Penna Homecare Limited Small abbreviated accounts

PENNA HOMECARE LIMITED - Company Information

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COMPANY REGISTRATION NUMBER 08628233

PENNA HOMECARE LIMITED

UNAUDITED ABBREVIATED ACCOUNTS

31 July 2016

PENNA HOMECARE LIMITED

ABBREVIATED BALANCE SHEET

31 July 2016

		2016		2015
Note		£	£	£
FIXED ASSETS	2
Tangible assets			1,667	2,674
			-------	-------

CURRENT ASSETS

Debtors	25,951	23,275
Cash at bank and in hand	10,024	8,622
	--------	--------
	35,975	31,897
CREDITORS: Amounts falling due within one year	45,141	31,535
	--------	--------

NET CURRENT (LIABILITIES)/ASSETS		( 9,166)	362

	-------	-------
TOTAL ASSETS LESS CURRENT LIABILITIES	( 7,499)	3,036
	-------	-------

CAPITAL AND RESERVES

Called up equity share capital	4	2	2
Profit and loss account		( 7,501)	3,034

	-------	-------
(DEFICIT)/SHAREHOLDERS' FUNDS	( 7,499)	3,036
	-------	-------

For the year ended 31 July 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These abbreviated accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime.

These abbreviated accounts were approved by the directors and authorised for issue on 28 April 2017 , and are signed on their behalf by:

S J Walsh

Company Registration Number: 08628233

PENNA HOMECARE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

YEAR ENDED 31 JULY 2016

1. ACCOUNTING POLICIES

Basis of accounting

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). The financial statements have been prepared on a going concern basis which assumes that the company will be able to continue its current operation in the foreseeable future, with the continued support from the directors.

Turnover

The turnover shown in the profit and loss account represents amounts invoiced during the year. The turnover basis is not affected by consideration of long-term contracts and contracts for ongoing services.

Fixed assets

All fixed assets are initially recorded at cost.

Depreciation

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Equipment-25% straight line

Operating lease agreements

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

2. FIXED ASSETS

	Tangible Assets
	£

COST

At 1 August 2015	4,499
Additions	157
	-------
At 31 July 2016	4,656
	-------

DEPRECIATION

At 1 August 2015	1,825
Charge for year	1,164
	-------
At 31 July 2016	2,989
	-------

NET BOOK VALUE

At 31 July 2016	1,667
	-------

At 31 July 2015	2,674
	-------

3. TRANSACTIONS WITH THE DIRECTORS

During the period S J Walsh received a loan from the company. The amount outstanding at 31 July 2016 was £2,353. The loan was repaid after the period end.

4. SHARE CAPITAL

Allotted, called up and fully paid:

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