Pure Ground Surface Specialists Limited - Period Ending 2016-10-31

Registration number: 08722550

Pure Ground Surface Specialists Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 October 2016
 

Bruce Marshall & Co Limited
Accountants and Tax Advisers
3 Crewe Road
Sandbach
Cheshire
CW11 4NE

Pure Ground Surface Specialists Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Pure Ground Surface Specialists Limited
(Registration number: 08722550)
Abbreviated Balance Sheet at 31 October 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					23,570			26,807
Current assets
Stocks					750			750
Debtors					3,975			-
Cash at bank and in hand					-			3,436
					4,725			4,186
Creditors: Amounts falling due within one year					(27,757)			(19,292)
Net current liabilities					(23,032)			(15,106)
Total assets less current liabilities					538			11,701
Creditors: Amounts falling due after more than one year					-			(758)
Net assets					538			10,943
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					438			10,843
Shareholders' funds					538			10,943

For the year ending 31 October 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 Board on 14 February 2017 and signed on its behalf by:

.........................................
R H Wilcox
Director

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

Pure Ground Surface Specialists Limited
Notes to the Abbreviated Accounts for the Year Ended 31 October 2016
......... continued

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	10% straight line basis
Motor vehicles	10% straight line basis
Office equipment	10% 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.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

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.

Page 2

Pure Ground Surface Specialists Limited
Notes to the Abbreviated Accounts for the Year Ended 31 October 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 November 2015		32,379			32,379
At 31 October 2016		32,379			32,379
Depreciation
At 1 November 2015		5,572			5,572
Charge for the year		3,237			3,237
At 31 October 2016		8,809			8,809
Net book value
At 31 October 2016		23,570			23,570
At 31 October 2015		26,807			26,807

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