PERANCEA_LIMITED - Accounts

PERANCEA LIMITED - Company Information

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Company Registration No. 02061057 (England and Wales)

PERANCEA LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2016

PERANCEA LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

PERANCEA LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MAY 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

35,733

20,009

Current assets

Stocks

49,482

51,373

Debtors

111,527

106,186

Cash at bank and in hand

92,238

140,592

253,247

298,151

Creditors: amounts falling due within one year

(75,619)

(92,197)

Net current assets

177,628

205,954

Total assets less current liabilities

213,361

225,963

Capital and reserves

Called up share capital

Share premium account

960

Other reserves

110

Profit and loss account

212,221

224,823

Shareholders' funds

213,361

225,963

For the financial year ended 31 May 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 28 February 2017

P Hendrick

Director

Company Registration No. 02061057

PERANCEA LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MAY 2016

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention 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 for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Land and buildings Leasehold

straight line over the life of the lease

Plant and machinery

15% reducing balance

Fixtures, fittings & equipment

25% reducing balance

Motor vehicles

25% reducing balance

1.5

Pensions

The company pays into individual employees' personal pension schemes. Contributions payable are charged to the profit and loss account in the year they are payable.

Fixed assets

Tangible assets

Cost

At 1 June 2015

330,663

Additions

31,633

Disposals

(26,613)

At 31 May 2016

335,683

Depreciation

At 1 June 2015

310,653

On disposals

(20,792)

Charge for the year

10,089

At 31 May 2016

299,950

Net book value

At 31 May 2016

35,733

At 31 May 2015

20,009

PERANCEA LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MAY 2016

- 3 -

Share capital

2016

2015

Allotted, called up and fully paid

10 ordinary voting shares of £1 each

60 ordinary non voting shares of £1 each

Related party relationships and transactions

At the balance sheet date the company owed P J Hendrick £864 (2015 - £1,778) and M Evans owed the company £7,141 (2015 - £nil). The amount was repaid on 1 February 2017.