PUGH_&_CO_(LONDON)_LIMITE - Accounts

PUGH & CO.(LONDON)LIMITED - Company Information

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Company Registration No. 00502587 (England and Wales)

PUGH & CO (LONDON) LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2016

PUGH & CO (LONDON) LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

PUGH & CO (LONDON) LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 APRIL 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

975,151

975,178

Investments

20,380

995,531

995,558

Current assets

Debtors

25,030

Cash at bank and in hand

60,284

86,080

85,314

86,080

Creditors: amounts falling due within one year

(16,564)

(15,234)

Net current assets

68,750

70,846

Total assets less current liabilities

1,064,281

1,066,404

Capital and reserves

Called up share capital

12,000

Revaluation reserve

962,076

Profit and loss account

90,205

92,328

Shareholders' funds

1,064,281

1,066,404

For the financial year ended 30 April 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 9 January 2017

Mr S Pugh

Mr C A Pugh

Director

Company Registration No. 00502587

PUGH & CO (LONDON) LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 APRIL 2016

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention modified to include the revaluation of freehold land and buildings 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 from property rentals.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets include investment properties valued by the directors on an existing use open market value basis. Other tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:

Fixtures, fittings & equipment

15% reducing balance

Investment properties are included in the balance sheet at their open market value. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.

Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.

1.5

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

PUGH & CO (LONDON) LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 APRIL 2016

- 3 -

Fixed assets

Tangible assets

Investments

Total

Cost or valuation

At 1 May 2015 & at 30 April 2016

978,496

20,380

998,876

Depreciation

At 1 May 2015

3,318

Charge for the year

At 30 April 2016

3,345

Net book value

At 30 April 2016

975,151

20,380

995,531

At 30 April 2015

975,178

20,380

995,558

Share capital

2016

2015

Allotted, called up and fully paid

12,000 Ordinary shares of £1 each

12,000