Proskins Limited - Abbreviated accounts 16.3
Proskins Limited - Abbreviated accounts 16.3
| REGISTERED NUMBER: |
| Abbreviated Unaudited Accounts |
| for the Year Ended 30 June 2016 |
| for |
| Proskins Limited |
| Proskins Limited (Registered number: 07301296) |
| Contents of the Abbreviated Accounts |
| for the Year Ended 30 June 2016 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 4 |
| Chartered Accountants' Report | 8 |
| Proskins Limited |
| Company Information |
| for the Year Ended 30 June 2016 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Proskins Limited (Registered number: 07301296) |
| Abbreviated Balance Sheet |
| 30 June 2016 |
| 2016 | 2015 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 2 |
| Tangible assets | 3 |
| Investments | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 5 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 6 |
| Share premium |
| Profit and loss account |
| SHAREHOLDERS' FUNDS |
| 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. |
| Proskins Limited (Registered number: 07301296) |
| Abbreviated Balance Sheet - continued |
| 30 June 2016 |
| The financial statements were approved by the Board of Directors on behalf by: |
| Proskins Limited (Registered number: 07301296) |
| Notes to the Abbreviated Accounts |
| for the Year Ended 30 June 2016 |
| 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). |
| Preparation of consolidated financial statements |
| The financial statements contain information about Proskins Limited as an individual company and do |
| not contain consolidated financial information as the parent of a group. The company has taken the |
| option under Section 398 of the Companies Act 2006 not to prepare consolidated financial statements. |
| Turnover |
| Turnover represents net invoiced sales of goods, excluding value added tax. |
| Intangible assets |
| Amortisation is provided at the following annual rates in order to write off each asset over its estimated |
| useful life. |
| Trademarks and licences - 10% on cost |
| Website costs - 20% on cost |
| Tangible fixed assets |
| Fixtures and fittings | - |
| Motor vehicles | - |
| 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 material timing differences that have originated but not |
| reversed at the balance sheet date. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at |
| the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of |
| exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at |
| the operating result. |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. |
| Those held under hire purchase contracts are depreciated over their estimated useful lives. Those |
| held under finance leases are depreciated over their estimated useful lives or the lease term, |
| whichever is the shorter. |
| The interest element of these obligations is charged to the profit and loss account over the relevant |
| period. The capital element of the future payments is treated as a liability. |
| 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. |
| Proskins Limited (Registered number: 07301296) |
| Notes to the Abbreviated Accounts - continued |
| for the Year Ended 30 June 2016 |
| 2. | INTANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 July 2015 |
| Additions |
| At 30 June 2016 |
| AMORTISATION |
| At 1 July 2015 |
| Amortisation for year |
| At 30 June 2016 |
| NET BOOK VALUE |
| At 30 June 2016 |
| At 30 June 2015 |
| 3. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 July 2015 |
| Additions |
| At 30 June 2016 |
| DEPRECIATION |
| At 1 July 2015 |
| Charge for year |
| At 30 June 2016 |
| NET BOOK VALUE |
| At 30 June 2016 |
| At 30 June 2015 |
| 4. | FIXED ASSET INVESTMENTS |
| Investments |
| other |
| than |
| loans |
| £ |
| COST |
| At 1 July 2015 |
| and 30 June 2016 | 64 |
| NET BOOK VALUE |
| At 30 June 2016 |
| At 30 June 2015 |
| Proskins Limited (Registered number: 07301296) |
| Notes to the Abbreviated Accounts - continued |
| for the Year Ended 30 June 2016 |
| 4. | FIXED ASSET INVESTMENTS - continued |
| The company's investments at the Balance Sheet date in the share capital of companies include the |
| following: |
| Country of incorporation: |
| Nature of business: |
| % |
| Class of shares: | holding |
| Ordinary | 99.00 |
| £ | £ |
| Aggregate capital and reserves | (132,833 | ) | (132,833 | ) |
| Country of incorporation: |
| Nature of business: |
| % |
| Class of shares: | holding |
| Partnership share | 80.00 |
| £ | £ |
| Profit for the year | - | 6,316 |
| Details for the year ended 2016 are not yet available. |
| 5. | CREDITORS |
| Creditors include an amount of £ |
| 6. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2016 | 2015 |
| value: | £ | £ |
| Ordinary | £1 |
| 7. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to directors subsisted during the years ended 30 June 2016 and |
| 30 June 2015: |
| 2016 | 2015 |
| £ | £ |
| Balance outstanding at start of year | ( |
) | ( |
) |
| Amounts advanced | ( |
) |
| Amounts repaid | ( |
) |
| Balance outstanding at end of year | ( |
) | ( |
) |
| Proskins Limited (Registered number: 07301296) |
| Notes to the Abbreviated Accounts - continued |
| for the Year Ended 30 June 2016 |
| 7. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued |
| Balance outstanding at start of year | ( |
) | ( |
) |
| Amounts repaid |
| Balance outstanding at end of year | ( |
) | ( |
) |
| Balance outstanding at start of year |
| Amounts advanced | ( |
) |
| Amounts repaid |
| Balance outstanding at end of year | ( |
) |
| The loan to the company from J Moore subsisted prior to the date of his appointment as a director on |
| 22 October 2015. Details shown above relate solely to the period of his directorship from 22 October |
| 2015 to the balance sheet date. Interest is payable on this loan at a fixed rate of 7%. Other directors' |
| loans to the company are interest free. |
| Chartered Accountants' Report to the Board of Directors |
| on the Unaudited Financial Statements of |
| Proskins Limited |
| 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 seven) 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 Proskins Limited for the year ended 30 June 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 Proskins Limited, as a body, in accordance with the terms of our engagement letter dated 4 November 2015. Our work has been undertaken solely to prepare for your approval the financial statements of Proskins Limited and state those matters that we have agreed to state to the Board of Directors of Proskins 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 Proskins Limited Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that Proskins 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 Proskins Limited. You consider that Proskins 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 Proskins 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. |
| 23 March 2017 |