PRESCO LTD - Abbreviated accounts

Registered number

04205134

PRESCO LTD

Abbreviated Accounts

30 April 2016

PRESCO LTD
Registered number:		04205134
Abbreviated Balance Sheet
as at 30 April 2016

Notes			2016			2015
€				€
Fixed assets
Tangible assets	2		754			412

Current assets
Debtors		153,623			58,268
Cash at bank and in hand		917,697			688,193
		1,071,320			746,461

Creditors: amounts falling due within one year		(116,995)			(14,077)

Net current assets			954,325			732,384

Total assets less current liabilities			955,079			732,796


Provisions for liabilities			(131)			(29)


Net assets			954,948			732,767

Capital and reserves
Called up share capital	3		1			1
Profit and loss account			954,947			732,766

Shareholder's funds			954,948			732,767

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.



Mr K Benhamza
Director
Approved by the board on 16 January 2017

PRESCO LTD
Notes to the Abbreviated Accounts
for the year ended 30 April 2016

1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

	Turnover
	Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

	Depreciation
	Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

	Plant and machinery			25% reducing balance

	Deferred taxation
	Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.

	Foreign currencies
	Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account.


2	Tangible fixed assets					€

	Cost
	At 1 May 2015					2,167
	Additions					594
	At 30 April 2016					2,761

	Depreciation
	At 1 May 2015					1,755
	Charge for the year					252
	At 30 April 2016					2,007

	Net book value
	At 30 April 2016					754
	At 30 April 2015					412


3	Share capital	Nominal		2016		2016		2015
value			Number		€		€
	Allotted, called up and fully paid:
	Ordinary shares	£1 each		1		1		1

	The company's authorised and issued share capital is in Pound Sterling. The called up share capital is stated in the balance sheet in Euro following translation using the rate of exchange prevailing on the date of issue.

	On 4 November 2004 the company increased its authorised share capital to 200,000 ordinary £1 shares. On the same day the company allotted 199,999 £1 ordinary shares. To date these shares have not been called up and remain unpaid.