P.A.R. (Insulations and Wires) Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 02405904 (England and Wales)

P.A.R. (Insulations and Wires) Limited

Abbreviated Unaudited Accounts

For The Year Ended 30 September 2016

Page

Abbreviated Balance Sheet

1

Notes to the Abbreviated Accounts

3

Report of the Accountants

5

FIXED ASSETS

Intangible assets

2

9,667

-

Tangible assets

3

117,334

138,253

127,001

138,253

CURRENT ASSETS

Stocks

249,994

271,658

Debtors

326,695

367,596

Cash at bank and in hand

988

732

577,677

639,986

CREDITORS

Amounts falling due within one year

4

493,976

545,434

NET CURRENT ASSETS

83,701

94,552

TOTAL ASSETS LESS CURRENT
LIABILITIES

210,702

232,805

CREDITORS

Amounts falling due after more than one
year

4

(19,073

)

(34,323

)

PROVISIONS FOR LIABILITIES

(5,202

)

(7,900

)

NET ASSETS

186,427

190,582

CAPITAL AND RESERVES

Called up share capital

5

9,750

Capital redemption reserve

3,250

Profit and loss account

173,427

177,582

SHAREHOLDERS' FUNDS

186,427

190,582

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 16 May 2017 and were signed on its behalf by:

R A Hirst - 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

-

4% straight line

Fixtures and fittings

-

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at

the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

Government grants

Grants are credited to deferred revenue. Grants towards capital expenditure are released to the profit and loss

account over the expected useful life of the assets. Grants towards revenue expenditure are released to the profit

and loss account as the related expenditure is incurred.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

Additions

10,000

At 30 September 2016

10,000

AMORTISATION

Amortisation for year

333

At 30 September 2016

333

NET BOOK VALUE

At 30 September 2016

9,667

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 October 2015

306,533

Additions

1,299

Disposals

(88

)

At 30 September 2016

307,744

DEPRECIATION

At 1 October 2015

168,280

Charge for year

22,202

Eliminated on disposal

(72

)

At 30 September 2016

190,410

NET BOOK VALUE

At 30 September 2016

117,334

At 30 September 2015

138,253

4.

CREDITORS

Creditors include an amount of £ 136,892 (2015 - £ 155,032 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

9,750

Ordinary

£1

9,750

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages one to four)

have been prepared.

As described on the balance sheet you are responsible for the preparation of the financial statements for the year ended 30 September 2016 set out on pages three to ten and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Our report may not be relied upon by any person for any other purpose whatsoever.

Roddis Taylor Robinson neither owes nor accepts any duty to any other party and shall not be liable for any loss,

damage or expenses of whatsoever nature which is caused by their reliance on these accounts.

Roddis Taylor Robinson

Chartered Accountants

Unit 6, Acorn Business Park

Woodseats Close

Sheffield

South Yorkshire

S8 0TB

16 May 2017