Premium Roofing Limited - Period Ending 2016-07-31

Registration number: 06967787

Premium Roofing Limited

Unaudited Abbreviated Accounts
 
for the Year Ended 31 July 2016

Gutteridge Scanlan
Chartered Accountants
5 High View Close
Hamilton Office Park
Leicester
LE4 9LJ

Premium Roofing Limited

Contents

Abbreviated Balance Sheet	1
Notes to the Abbreviated Accounts	2 to 3

Premium Roofing Limited

(Registration number: 06967787)
Abbreviated Balance Sheet as at 31 July 2016

	Note	2016  £	2015  £
Fixed assets
Tangible assets	2	12,658	11,081
Current assets
Stocks		206	945
Debtors		16,319	7,243
Cash at bank and in hand		30,169	38,485
		46,694	46,673
Prepayments and accrued income		1,738	2,355
Creditors: Amounts falling due within one year		(17,415)	(20,686)
Net current assets		31,017	28,342
Net assets		43,675	39,423
Capital and reserves
Called up share capital	3	100	100
Profit and loss account		43,575	39,323
Shareholders funds		43,675	39,423

For the year ending 31 July 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 director on 19 January 2017

.........................................
Mr Henry Marshall Gaskin
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Premium Roofing Limited

Notes to the Abbreviated Accounts

1

Accounting policies

Turnover

Turnover represents amounts chargeable in respect of the sale of goods and services to customers.

Revenue recognition

Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales tax or duty.

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
Plant & machinery	25% on reducing balance
Motor Vehicles	25% on reducing balance

Work in progress

Work in progress 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. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

2

Fixed assets

	Tangible assets £	Total £
Cost
At 1 August 2015	20,341	20,341
Additions	16,412	16,412
Disposals	(18,871)	(18,871)
At 31 July 2016	17,882	17,882
Depreciation
At 1 August 2015	9,260	9,260
Charge for the year	4,220	4,220
Eliminated on disposals	(8,256)	(8,256)
At 31 July 2016	5,224	5,224
Net book value
At 31 July 2016	12,658	12,658
At 31 July 2015	11,081	11,081

Page 2

Premium Roofing Limited

Notes to the Abbreviated Accounts

3

Share capital

Allotted, called up and fully paid shares

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

Page 3