Pinemark Projects Ltd - Limited company accounts 16.3

REGISTERED NUMBER: 07341367 (England and Wales)

Report of the Director and

Unaudited Financial Statements for the Year Ended 31 August 2016

for

Pinemark Projects Ltd

Page

Company Information

1

Report of the Director

2

Profit and Loss Account

3

Balance Sheet

4

Notes to the Financial Statements

5

DIRECTOR:

S J Crayford

SECRETARY:

REGISTERED OFFICE:

Unit C3

Knights Park Industrial Estate

Knight Road

Rochester

Kent

ME2 2LS

REGISTERED NUMBER:

07341367 (England and Wales)

ACCOUNTANTS:

I.B.C.

Unit C3 Knights Park Industrial Estate,

Knight Road,

Rochester,

Kent,

ME2 2LS.

The director presents his report with the financial statements of the company for the year ended 31 August 2016.

DIRECTOR

S J Crayford held office during the whole of the period from 1 September 2015 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small

companies.

ON BEHALF OF THE BOARD:

S J Crayford - Director

21 March 2017

TURNOVER

587,581

619,924

Cost of sales

443,564

487,797

GROSS PROFIT

144,017

132,127

Administrative expenses

121,291

99,704

OPERATING PROFIT

2

22,726

32,423

Interest payable and similar charges

-

25,000

PROFIT ON ORDINARY ACTIVITIES BEFORE
TAXATION

22,726

7,423

Tax on profit on ordinary activities

3

4,720

6,767

PROFIT FOR THE FINANCIAL YEAR

18,006

656

FIXED ASSETS

Tangible assets

4

9,178

12,239

Investments

5

63

9,241

12,302

CURRENT ASSETS

Stocks

18,900

18,000

Debtors

6

42,386

40,367

Cash at bank

107,362

90,208

168,648

148,575

CREDITORS

Amounts falling due within one year

7

132,128

133,122

NET CURRENT ASSETS

36,520

15,453

TOTAL ASSETS LESS CURRENT
LIABILITIES

45,761

27,755

CAPITAL AND RESERVES

Called up share capital

8

100

Retained earnings

9

45,661

27,655

SHAREHOLDERS' FUNDS

45,761

27,755

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

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

The director acknowledges his 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 financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard for Smaller Entities (effective January 2015).

The financial statements were approved by the director on 21 March 2017 and were signed by:

S J Crayford - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015) and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

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

Stocks

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

slow moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

2.	OPERATING PROFIT

The operating profit is stated after charging:

31.8.16

31.8.15

£

Depreciation - owned assets

3,061

4,082

Director's remuneration and other benefits etc

47,114

22,600

3.

TAXATION

Analysis of the tax charge

The tax charge on the profit on ordinary activities for the year was as follows:

31.8.16

31.8.15

£

Current tax:

UK corporation tax

4,720

6,767

Tax on profit on ordinary activities

4,720

6,767

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

COST

At 1 September 2015

and 31 August 2016

25,620

2,420

6,769

1,540

36,349

DEPRECIATION

At 1 September 2015

17,600

1,846

3,990

674

24,110

Charge for year

2,005

144

695

217

3,061

At 31 August 2016

19,605

1,990

4,685

891

27,171

NET BOOK VALUE

At 31 August 2016

6,015

430

2,084

649

9,178

At 31 August 2015

8,020

574

2,779

866

12,239

5.	FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:

31.8.16

31.8.15

£

Incorporation Costs

63

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.16

31.8.15

£

Trade debtors

42,386

40,367

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.16

31.8.15

£

Trade creditors

56,871

54,163

Tax

4,720

6,767

VAT

11,959

5,911

Directors' loan accounts

29,924

46,181

Accruals and deferred income

28,654

20,100

132,128

133,122

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.16

31.8.15

value:

£

100

Ordinary

£1

100

9.

RESERVES

Retained

earnings

£

At 1 September 2015

27,655

Profit for the year

18,006

At 31 August 2016

45,661