Permagard Products Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 02363543

Abbreviated Unaudited Accounts for the Year Ended 31 May 2016

for

Permagard Products Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Chartered Accountants' Report

6

DIRECTORS:

D.J. Wookey

S Wookey

SECRETARY:

A Wookey

REGISTERED OFFICE:

The Mews

Hounds Road

Chipping Sodbury

Bristol

BS37 6EE

REGISTERED NUMBER:

02363543

ACCOUNTANTS:

Derek J Stenner Ltd

Chartered Accountant

The Mews,

Hounds Road,

Chipping Sodbury,

South Gloucestershire.

BS37 6EE

FIXED ASSETS

Intangible assets

2

1,480

1,953

Tangible assets

3

440,785

451,324

442,265

453,277

CURRENT ASSETS

Stocks

117,462

112,456

Debtors

61,956

71,899

Cash at bank and in hand

93,477

62,906

272,895

247,261

CREDITORS

Amounts falling due within one year

322,915

297,602

NET CURRENT LIABILITIES

(50,020

)

(50,341

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

392,245

402,936

CAPITAL AND RESERVES

Called up share capital

4

200

Profit and loss account

392,045

402,736

SHAREHOLDERS' FUNDS

392,245

402,936

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each
financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395
and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as
applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 28 February 2017 and were signed on its behalf by:

D.J. Wookey - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements 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 net invoiced sales of goods, excluding value added tax.

Patents and licences

Patents and licences have been depreciated over 15 years on cost.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

in accordance with the property

Short leasehold

-

20% on cost

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving

items.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are

charged to the profit and loss account in the period to which they relate.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2015

and 31 May 2016

7,093

AMORTISATION

At 1 June 2015

5,140

Amortisation for year

473

At 31 May 2016

5,613

NET BOOK VALUE

At 31 May 2016

1,480

At 31 May 2015

1,953

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2015

and 31 May 2016

606,649

DEPRECIATION

At 1 June 2015

155,325

Charge for year

10,539

At 31 May 2016

165,864

NET BOOK VALUE

At 31 May 2016

440,785

At 31 May 2015

451,324

4.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

2016

2015

value:

£

200

Ordinary shares

£1

200

5.	RELATED PARTY DISCLOSURES

During the year, the company paid rent to Mr D. Wookey, (a director of Permagard Products Limited) and Mrs A. Wookey.

Rent paid during the year totalled £48,000 (2015 £48,000).

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited

financial statements, from which the unaudited abbreviated accounts (set out on pages two to five) have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial

statements of Permagard Products Limited for the year ended 31 May 2016 which comprise the Profit and Loss Account, the

Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given

us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Permagard Products Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Permagard Products Limited and state those matters that we have agreed to state to the Board of Directors of Permagard Products Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Permagard Products Limited Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Permagard Products Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Permagard Products Limited. You consider that Permagard Products Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Permagard Products 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 financial statements.

Derek J Stenner Ltd

Chartered Accountant

The Mews,

Hounds Road,

Chipping Sodbury,

South Gloucestershire.

BS37 6EE

Date: .............................................