Pro-Bolt Limited - Abbreviated accounts 16.3
Pro-Bolt Limited - Abbreviated accounts 16.3
| REGISTERED NUMBER: |
| ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2016 |
| FOR |
| PRO-BOLT LIMITED |
| PRO-BOLT LIMITED (REGISTERED NUMBER: 03715081) |
| CONTENTS OF THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 31 AUGUST 2016 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 4 |
| PRO-BOLT LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 AUGUST 2016 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| PRO-BOLT LIMITED (REGISTERED NUMBER: 03715081) |
| ABBREVIATED BALANCE SHEET |
| 31 AUGUST 2016 |
| 2016 | 2015 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 2 |
| Tangible assets | 3 |
| CURRENT ASSETS |
| Stocks |
| Debtors |
| CREDITORS |
| Amounts falling due within one year | 4 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
4 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 5 |
| Capital redemption reserve |
| Profit and loss account |
| SHAREHOLDERS' FUNDS |
| 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. |
| PRO-BOLT LIMITED (REGISTERED NUMBER: 03715081) |
| ABBREVIATED BALANCE SHEET - continued |
| 31 AUGUST 2016 |
| The financial statements were approved by the Board of Directors on behalf by: |
| PRO-BOLT LIMITED (REGISTERED NUMBER: 03715081) |
| NOTES TO THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 31 AUGUST 2016 |
| 1. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The directors consider that there are no material uncertainties that may cast significant doubt about the |
| company’s ability to continue as a going concern, and therefore these financial statements have been |
| prepared on a going concern basis. |
| 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). |
| The company has taken advantage of the exemption in FRS1 from the requirement to produce a |
| cashflow statement because it is a small company. |
| Turnover |
| Turnover represents the total invoice value, excluding value added tax, of sales made during the year. |
| Revenue is recognised on despatch of the goods to the customer. |
| Patents |
| Patents are valued at cost less accumulated amortisation. |
| Amortisation is calculated to write off the cost in equal annual instalments over their estimated useful |
| life of 10 years. |
| Website |
| Website costs of £24,429 are included within the Intangible assets of £29,585.The company started |
| amortising the costs on completion which was December 2015. |
| Tangible fixed assets |
| Short leasehold | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| 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. |
| Leasing |
| Rentals payable under operating leases are charged against income on a straight line basis over the |
| lease term. |
| PRO-BOLT LIMITED (REGISTERED NUMBER: 03715081) |
| NOTES TO THE ABBREVIATED ACCOUNTS - continued |
| FOR THE YEAR ENDED 31 AUGUST 2016 |
| 2. | INTANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 September 2015 |
| Additions |
| At 31 August 2016 |
| AMORTISATION |
| At 1 September 2015 |
| Amortisation for year |
| At 31 August 2016 |
| NET BOOK VALUE |
| At 31 August 2016 |
| At 31 August 2015 |
| 3. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 September 2015 |
| Additions |
| Disposals | ( |
) |
| At 31 August 2016 |
| DEPRECIATION |
| At 1 September 2015 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31 August 2016 |
| NET BOOK VALUE |
| At 31 August 2016 |
| At 31 August 2015 |
| 4. | CREDITORS |
| Creditors include an amount of £ |
| 5. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2016 | 2015 |
| value: | £ | £ |
| Ordinary | 1 |
| First Preference Share | 1 |
| Second Preference Share | 1 |
| 90 | 90 |
| PRO-BOLT LIMITED (REGISTERED NUMBER: 03715081) |
| NOTES TO THE ABBREVIATED ACCOUNTS - continued |
| FOR THE YEAR ENDED 31 AUGUST 2016 |
| 6. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 31 August 2016 and |
| 31 August 2015: |
| 2016 | 2015 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Balance outstanding at end of year |
| Interest is accruing at 4% on overdrawn outstanding balances and there are no set repayment terms. |