Punk Grandad Limited - Period Ending 2016-06-30

Company No. 06808813

Punk Grandad Limited

Abbreviated Accounts

Year Ended

30 June 2016
 

Brett Pittwood

Chartered Accountants

Punk Grandad Limited   Accounts Year Ended 30 June 2016

INDEX Page

Abbreviated balance sheet 1

Notes to the abbreviated accounts 2

Punk Grandad Limited Abbreviated balance sheet at 30 June 2016

page 787878787 Company No. 06808813

		Note			30 June 2016						30 June 2015
Current assets
Stocks								425						366
Debtors								-						230
Cash at bank and in hand								766						216
								1,191						812
CREDITORS: amounts falling due within one year								(6,973)						(5,921)
Net liabilities								(£5,782)						(£5,109)
Capital and reserves
Called up share capital		2			100						100
Profit and loss account					(5,882)						(5,209)
								(£5,782)						(£5,109)

For the year ending 30 June 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 27 March 2017 and signed on its behalf by:

M C Griffiths
Director

Punk Grandad Limited Notes to the abbreviated accounts   Year Ended 30 June 2016

page 787878787

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 in respect of the sale of goods and services to customers.

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.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Foreign currency

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

2	Share capital

Allotted, called up and fully paid shares

	30 June 2016						30 June 2015
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100