Peter Lovesey Limited - Period Ending 2016-11-30

Registration number: 03883709

Peter Lovesey Limited

Abbreviated Accounts

for the Year Ended 30 November 2016
 

787878787
Peter Lovesey Limited
Registration number: 03883709
Abbreviated Balance Sheet at 30 November 2016

		Note			2016						2015
	£			£			£			£
Fixed assets
Tangible fixed assets		2						1,453						1,938
Current assets
Debtors					2,397						-
Cash at bank and in hand					66,798						91,778
					69,195						91,778
Creditors: Amounts falling due within one year					(14,905)						(64,038)
Net current assets								54,290						27,740
Total assets less current liabilities								55,743						29,678
Provisions for liabilities								(291)						(387)
Net assets								55,452						29,291
Capital and reserves
Called up share capital		3			2						2
Profit and loss account					55,450						29,289
Shareholders' funds								55,452						29,291

For the year ending 30 November 2016 the company was entitled to exemption from audit 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 and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Approved by the Board on 31 March 2017 and signed on its behalf by:

Mr P H Lovesey
Director

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

787878787
Peter Lovesey Limited
Notes to the Abbreviated Accounts for the Year Ended 30 November 2016

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, net of value added tax, in respect of the sale of goods and services to customers.

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 and machinery	25% on written down value

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.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

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

787878787
Peter Lovesey Limited
Notes to the Abbreviated Accounts for the Year Ended 30 November 2016

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 December 2015		12,768			12,768
At 30 November 2016		12,768			12,768
Amortisation
At 1 December 2015		10,830			10,830
Charge for the year		485			485
At 30 November 2016		11,315			11,315
Net book value
At 30 November 2016		1,453			1,453
At 30 November 2015		1,938			1,938

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £1 each		2			2			2			2

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