Porosol Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 01255885 (England and Wales)

Porosol Limited

Abbreviated Accounts

For The Year Ended 30 June 2016

Page

Abbreviated Balance Sheet

1

to

2

Notes to the Abbreviated Accounts

3

to

4

FIXED ASSETS

Tangible assets

2

2,936

2,714

CURRENT ASSETS

Stocks

14,800

15,621

Debtors

3,769

1,420

Prepayments and accrued income

288

579

Cash at bank and in hand

3,032

1,610

21,889

19,230

CREDITORS

Amounts falling due within one year

12,812

10,458

NET CURRENT ASSETS

9,077

8,772

TOTAL ASSETS LESS CURRENT
LIABILITIES

12,013

11,486

PROVISIONS FOR LIABILITIES

483

416

NET ASSETS

11,530

11,070

CAPITAL AND RESERVES

Called up share capital

3

10,590

Profit and loss account

940

480

SHAREHOLDERS' FUNDS

11,530

11,070

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 30 March 2017 and were signed on its
behalf by:

T E Shaw - 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.

Office equipment

-

15% on reducing balance

Motor vehicles

-

25% 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 sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2015

8,733

Additions

740

At 30 June 2016

9,473

DEPRECIATION

At 1 July 2015

6,019

Charge for year

518

At 30 June 2016

6,537

NET BOOK VALUE

At 30 June 2016

2,936

At 30 June 2015

2,714

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

10,000

'A' Ordinary

£1

10,000

590

'B' Ordinary

£1

590

10,590

4.	ULTIMATE CONTROLLING PARTY

The company is under the control of P H Shaw.