PFM_DEVELOPMENTS_LIMITED - Accounts

PFM DEVELOPMENTS LIMITED - Company Information

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Company Registration No. 07507341 (England and Wales)

PFM DEVELOPMENTS LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2016

PFM DEVELOPMENTS LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

PFM DEVELOPMENTS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

35,839

19,835

Current assets

Stocks

210,300

247,454

Debtors

623

958

Cash at bank and in hand

3,572

20,336

214,495

268,748

Creditors: amounts falling due within one year

(110,382)

(248,358)

Net current assets

104,113

20,390

Total assets less current liabilities

139,952

40,225

Provisions for liabilities

(6,930)

(3,594)

133,022

36,631

Capital and reserves

Called up share capital

100

Profit and loss account

132,922

36,531

Shareholders' funds

133,022

36,631

For the financial year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 23 December 2016

Mr P. F. McDonnell

Director

Company Registration No. 07507341

PFM DEVELOPMENTS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery

15% Reducing balance

Computer equipment

33 1/3% Straight line

Motor vehicles

25% Reducing balance

1.5

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

Fixed assets

Tangible assets

Cost

At 1 April 2015

38,787

Additions

21,711

Disposals

(1,500)

At 31 March 2016

58,998

Depreciation

At 1 April 2015

18,952

On disposals

(539)

Charge for the year

4,746

At 31 March 2016

23,159

Net book value

At 31 March 2016

35,839

At 31 March 2015

19,835

PFM DEVELOPMENTS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2016

- 3 -

Share capital

2016

2015

Allotted, called up and fully paid

100 Ordinary shares of £1 each

100