D. C. W. Penrose & Company Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 00586591 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 1 July 2016

for

D. C. W. Penrose & Company Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

D C W Penrose

D J Penrose

L D Penrose

REGISTERED OFFICE:

273 London Road

Staines

Middlesex

TW18 4JJ

REGISTERED NUMBER:

00586591 (England and Wales)

ACCOUNTANTS:

Andrew F Wye Limited

24 Marlyns Drive

Burpham

Guildford

Surrey

GU4 7LT

FIXED ASSETS

Tangible assets

2

351,747

319,516

CURRENT ASSETS

Stocks

16,712

16,832

Debtors

271,675

278,517

Cash at bank and in hand

255,023

235,783

543,410

531,132

CREDITORS

Amounts falling due within one year

239,837

206,193

NET CURRENT ASSETS

303,573

324,939

TOTAL ASSETS LESS CURRENT
LIABILITIES

655,320

644,455

CREDITORS

Amounts falling due after more than one year

24,565

-

NET ASSETS

630,755

644,455

CAPITAL AND RESERVES

Called up share capital

3

30,000

Profit and loss account

600,755

614,455

SHAREHOLDERS' FUNDS

630,755

644,455

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 1 July 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 1 July 2016 in accordance with Section 476 of the Companies Act 2006.

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.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 31 March 2017 and were signed on its behalf by:

L D Penrose - Director

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).

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.

Freehold property

-

2% on cost

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

15% on reducing balance

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

sheetbalance sheet date. The company only accounts for deferred tax assets where there is a reasonable

probability that the asset will be realised within the foreseeable future.

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.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 2 July 2015

1,484,854

Additions

57,450

Disposals

(8,000

)

At 1 July 2016

1,534,304

DEPRECIATION

At 2 July 2015

1,165,338

Charge for year

21,123

Eliminated on disposal

(3,904

)

At 1 July 2016

1,182,557

NET BOOK VALUE

At 1 July 2016

351,747

At 1 July 2015

319,516

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

1.7.16

1.7.15

value:

£

30,000

Ordinary

£1

30,000

4.	ULTIMATE CONTROLLING PARTY

The company is controlled by the trustees of D C W Penrose Family Trust, which comprise the directors of the

company.