Pabro Performance Films Limited - Period Ending 2016-05-31

Registration number: 03569651

Pabro Performance Films Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 May 2016
 

Cannons
Chartered Certified Accountants
Unit F, Kingsmead
Folkestone
Kent
CT19 5EU

Pabro Performance Films Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Pabro Performance Films Limited
(Registration number: 03569651)
Abbreviated Balance Sheet at 31 May 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					13,877			13,681
Current assets
Stocks					1,225			1,750
Debtors					27,159			17,238
Cash at bank and in hand					9,806			59,498
					38,190			78,486
Creditors: Amounts falling due within one year					(34,887)			(48,593)
Net current assets					3,303			29,893
Net assets					17,180			43,574
Capital and reserves
Called up share capital		3			2			2
Profit and loss account					17,178			43,572
Shareholders' funds					17,180			43,574

For the year ending 31 May 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 27 January 2017 and signed on its behalf by:

.........................................
Mr PA Bailey
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Pabro Performance Films Limited
Notes to the Abbreviated Accounts for the Year Ended 31 May 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Plant and machinery	25% on reducing balance
Motor vehicles	25% on reducing balance
Computer equipment	25% on cost

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 2

Pabro Performance Films Limited
Notes to the Abbreviated Accounts for the Year Ended 31 May 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 June 2015		34,465			34,465
Additions		1,297			1,297
At 31 May 2016		35,762			35,762
Depreciation
At 1 June 2015		20,784			20,784
Charge for the year		1,101			1,101
At 31 May 2016		21,885			21,885
Net book value
At 31 May 2016		13,877			13,877
At 31 May 2015		13,681			13,681

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £1 each		2			2			2			2

Page 3