Paulmark Ventilation Limited - Period Ending 2016-09-30

Registration number: 02786248

Paulmark Ventilation Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 September 2016
 

Thomas Harris Ltd
The 1929 Building
Merton Abbey Mills
18 Watermill Way
London
SW19 2RD

Paulmark Ventilation Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Paulmark Ventilation Limited
for the Year Ended 30 September 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Paulmark Ventilation Limited for the year ended 30 September 2016 set out on pages 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 at http://www.icaew.com/en/members/regulations-standards-and-guidance/.

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

It is your duty to ensure that Paulmark Ventilation Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Paulmark Ventilation Limited. You consider that Paulmark Ventilation 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 accounts of Paulmark Ventilation 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 accounts.

......................................

Thomas Harris Ltd
The 1929 Building
Merton Abbey Mills
18 Watermill Way
London
SW19 2RD

27 March 2017

Page 1

Paulmark Ventilation Limited
(Registration number: 02786248)
Abbreviated Balance Sheet at 30 September 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					10,269			13,693
Current assets
Stocks					7,720			-
Debtors					150,918			98,545
Cash at bank and in hand					18,245			37,963
					176,883			136,508
Creditors: Amounts falling due within one year					(102,068)			(87,319)
Net current assets					74,815			49,189
Net assets					85,084			62,882
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					84,984			62,782
Shareholders' funds					85,084			62,882

For the year ending 30 September 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 21 March 2017 and signed on its behalf by:

.........................................
A J Stocker
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Paulmark Ventilation Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Goodwill is written off over the useful economic life of the asset.

Asset class	Amortisation method and rate
Goodwill	Straight line over life of asset

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Fixtures and fittings	25% reducing balance
Motor vehicles	25% reducing balance

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

Page 3

Paulmark Ventilation Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2016
......... continued

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 October 2015		64,000			32,127			96,127
At 30 September 2016		64,000			32,127			96,127
Depreciation
At 1 October 2015		64,000			18,434			82,434
Charge for the year		-			3,424			3,424
At 30 September 2016		64,000			21,858			85,858
Net book value
At 30 September 2016		-			10,269			10,269
At 30 September 2015		-			13,693			13,693

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary of £1 each		100			100			100			100

Page 4