Period Homes Ireland Limited - Period Ending 2016-05-31

PERIOD HOMES IRELAND LIMITED - Company Information

Registration number: NI064842

Period Homes Ireland Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 May 2016

G P Boyle & Company Ltd
Old Fire Station
Cecil Street
Newry
Co. Down
BT35 6AU

Period Homes Ireland Limited

Contents

Accountants' Report	1
Abbreviated Balance Sheet	2
Notes to the Abbreviated Accounts	3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Period Homes Ireland Limited
for the Year Ended 31 May 2016

We have not been instructed to carry out an audit or a review of the accounts of Period Homes Ireland Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

G P Boyle & Company Ltd
Old Fire Station
Cecil Street
Newry
Co. Down
BT35 6AU

27 February 2017

Page 1

Period Homes Ireland Limited

(Registration number: NI064842)
Abbreviated Balance Sheet as at 31 May 2016

	Note	2016 £	2015 £
Fixed assets
Tangible assets	2	322	3,946
Current assets
Stocks		75,500	77,800
Cash at bank and in hand		5,168	4,452
		80,668	82,252
Creditors: Amounts falling due within one year		(14,080)	(20,371)
Net current assets		66,588	61,881
Total assets less current liabilities		66,910	65,827
Creditors: Amounts falling due after more than one year		-	(331)
Net assets		66,910	65,496
Capital and reserves
Called up share capital	3	2	2
Profit and loss account		66,908	65,494
Shareholders funds		66,910	65,496

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 director on 27 February 2017

.........................................
Mrs Karen Warren
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Period Homes Ireland Limited

Notes to the Abbreviated Accounts

Accounting policies

Basis of preparation

The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (FRSSE) (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	20% Straight Line
Fixtures and fittings	20% Straight Line
Office equipment	15% Straight Line

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and it's results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Fixed assets

	Tangible assets £	Total £
Cost
At 1 June 2015	18,270	18,270
At 31 May 2016	18,270	18,270
Depreciation
At 1 June 2015	14,324	14,324
Charge for the year	3,624	3,624
At 31 May 2016	17,948	17,948
Net book value
At 31 May 2016	322	322
At 31 May 2015	3,946	3,946

Page 3

Period Homes Ireland Limited

Notes to the Abbreviated Accounts

	Tangible assets £	Total £
Cost
At 1 June 2015	18,270	18,270
At 31 May 2016	18,270	18,270
Depreciation
At 1 June 2015	14,324	14,324
Charge for the year	3,624	3,624
At 31 May 2016	17,948	17,948
Net book value
At 31 May 2016	322	322
At 31 May 2015	3,946	3,946

Share capital

Allotted, called up and fully paid shares

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

Page 4