Premium Force Limited - Period Ending 2016-07-31

Registration number: 06955027

Premium Force Limited

Unaudited Abbreviated Accounts
 
for the Year Ended 31 July 2016

Landmark Accountants Limited
Chartered Accountants
Hamilton House
25 High Street
Rickmansworth
Hertfordshire
WD3 1ET

Premium Force Limited

Contents

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

Premium Force Limited

(Registration number: 06955027)
Abbreviated Balance Sheet as at 31 July 2016

	Note	2016  £		2015  £
Fixed assets
Tangible assets	2		13,471		5,896
Current assets
Stocks		105,501		105,465
Debtors		25,338		28,897
Cash at bank and in hand		9,688		19,401
		140,527		153,763
Creditors: Amounts falling due within one year		(191,721)		(176,805)
Net current liabilities			(51,194)		(23,042)
Net liabilities			(37,723)		(17,146)
Capital and reserves
Called up share capital	3	1		1
Profit and loss account		(37,724)		(17,147)
Shareholders deficit			(37,723)		(17,146)

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 11 April 2017

Mr M Townsend
Director

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

Premium Force Limited

Notes to the Abbreviated Accounts

1

Accounting policies

Basis of preparation

The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (FRSSE) (effective January 2015).

Going concern

The company's balance sheet shows an insolvent position at the balance sheet date. With the continued support of the director there is adequate funding to finance the company's continuing activities and to enable it to pay its debts as and when they fall due for payment. Accordingly, the director considers that the company is a going concern and the financial statements have been prepared on this basis.

Turnover

Turnover represents amounts chargeable, net of value added tax, 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 and machinery	25% straight line basis
Fixtures and fittings	25% straight line basis
Motor vehicles	25% straight line basis

Stock

Stock 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.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

Page 2

Premium Force Limited

Notes to the Abbreviated Accounts

2

Fixed assets

	Tangible assets £	Total £
Cost
At 1 August 2015	65,127	65,127
Additions	13,257	13,257
Disposals	(5,800)	(5,800)
At 31 July 2016	72,584	72,584
Depreciation
At 1 August 2015	59,231	59,231
Charge for the year	5,682	5,682
Eliminated on disposals	(5,800)	(5,800)
At 31 July 2016	59,113	59,113
Net book value
At 31 July 2016	13,471	13,471
At 31 July 2015	5,896	5,896

3

Share capital

Allotted, called up and fully paid shares

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

4

Control

The director is the controlling party by virtue of his controlling shareholding in the company.

Page 3