Port Nicholson Ltd - Abbreviated accounts 16.3

REGISTERED NUMBER: 04463743 (England and Wales)

ABBREVIATED ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2016

FOR

PORT NICHOLSON LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

Directors:

M S Bridge

P H Williams

Secretary:

M S Bridge

Registered office:

First Floor

44 High Street

Newport Pagnell

Buckinghamshire

MK16 8AQ

Business address:

53 Lloyd Road

Northampton

Northamptonshire

NN1 5JE

Registered number:

04463743 (England and Wales)

Accountants:

Clark Pritchard

First Floor

44 High Street

Newport Pagnell

Buckinghamshire

MK16 8AQ

Fixed assets

Tangible assets

2

6,246

12,674

Current assets

Stocks

2,000

Debtors

396,183

323,023

Cash at bank

48,981

1,993

447,164

327,016

Creditors

Amounts falling due within one year

439,832

311,200

Net current assets

7,332

15,816

Total assets less current liabilities

13,578

28,490

Capital and reserves

Called up share capital

3

100

Profit and loss account

13,478

28,390

Shareholders' funds

13,578

28,490

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 27 March 2017 and were signed on its behalf by:

M S Bridge - Director

P H Williams - 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.

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on cost

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

sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	Tangible fixed assets

Total

£

Cost

At 1 July 2015

72,131

Disposals

(29,463

)

At 30 June 2016

42,668

Depreciation

At 1 July 2015

59,457

Charge for year

1,783

Eliminated on disposal

(24,818

)

At 30 June 2016

36,422

Net book value

At 30 June 2016

6,246

At 30 June 2015

12,674

3.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

100

Ordinary

£1

100