P R Heesom Limited - Filleted accounts

P R Heesom Limited - Filleted accounts

P R HEESOM LIMITED - Company Information

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P R Heesom Limited
Registered number: 03602273
Balance Sheet
at 31 July 2016
Notes 2016 2015
£ £
Fixed assets
Tangible assets 2 2,921 2,624
Current assets
Debtors 3 7,152 19,812
Cash at bank and in hand 39,162 27,729
46,314 47,541
Creditors: amounts falling due within one year 4 (22,707) (20,418)
Net current assets 23,607 27,123
Net assets 26,528 29,747
Capital and reserves
Called up share capital 1 1
Profit and loss account 26,527 29,746
Shareholder's funds 26,528 29,747
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The financial statements have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Patrick Richard Heesom
Director
The financial statements were approved by the board of directors on 20 March 2017
P R Heesom Limited
Notes to the Financial statements
for the year ended 31 July 2016
1 Accounting policies
Basis of preparation
These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 – The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' ('FRS 102'), and with the Companies Act 2006. The financial statements have been prepared on the historical cost basis and are presented in Sterling (£).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services and is recognised by reference to the stage of completion of the contract.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is calculated to write down the cost less estimated residual value of all tangible fixed assets over their expected useful lives, using the straight-line method.
Plant and machinery 25% per year
Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Taxation
Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the current or past reporting periods using the tax rates and laws that that have been enacted or substantively enacted by the reporting date.
Deferred tax is calculated using the tax rates and laws that that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference and is recognised in respect of all timing differences at the reporting date, except as otherwise indicated. Deferred tax assets are only recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. If and when all conditions for retaining tax allowances for the cost of a fixed asset have been met, the deferred tax is reversed.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Employee benefits
Short-term employee benefits and contributions to defined contribution pension plans are recognised as an expense in the period in which they are incurred.
The company operates stakeholder defined contribution pension schemes for the benefit of the employees and directors. The assets of the pension schemes are administered by an independent pensions provider.
2 Tangible fixed assets
Plant and machinery
£
Cost
At 1 August 2015 11,922
Additions 594
At 31 July 2016 12,516
Depreciation
At 1 August 2015 9,298
Charge for the year 297
At 31 July 2016 9,595
Net book value
At 31 July 2016 2,921
At 31 July 2015 2,624
3 Debtors 2016 2015
£ £
Trade debtors 7,082 17,822
Other debtors 70 1,990
7,152 19,812
4 Creditors: amounts falling due within one year 2016 2015
£ £
Trade creditors 247 1,422
Corporation tax 15,621 11,352
Other taxes and social security costs 5,074 5,899
Other creditors 1,765 1,745
22,707 20,418
5 Other information
P R Heesom Limited is a private company limited by shares and incorporated in England. Its registered office is:
20 William James House
Cowley Road
Cambridge
CB4 0WX
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