Premier Drylining And Plastering Limited - Period Ending 2016-08-31

Registration number: 08665307

Premier Drylining And Plastering Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 August 2016
 

SBMC Business Management Ltd
Accountants
432 Gloucester Road
Horfield
Bristol
BS7 8TX

Premier Drylining And Plastering Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Accountants' Report to the Director on the Preparation of the Statutory Accounts of
Premier Drylining And Plastering Limited
for the Year Ended 31 August 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Premier Drylining And Plastering Limited for the year ended 31 August 2016 set out on pages 2 to 4 from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Premier Drylining And Plastering Limited, as a body, in accordance. Our work has been undertaken solely to prepare for your approval the accounts of Premier Drylining And Plastering Limited. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Premier Drylining And Plastering Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Premier Drylining And Plastering Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Premier Drylining And Plastering Limited. You consider that Premier Drylining And Plastering Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Premier Drylining And Plastering Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

SBMC Business Management Ltd
Accountants
432 Gloucester Road
Horfield
Bristol
BS7 8TX

31 May 2017

Page 1

Premier Drylining And Plastering Limited
(Registration number: 08665307)
Abbreviated Balance Sheet at 31 August 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					8,194			11,032
Current assets
Stocks					29,543			25,868
Debtors					24,813			27,992
Cash at bank and in hand					249			772
					54,605			54,632
Creditors: Amounts falling due within one year					(60,879)			(63,375)
Net current liabilities					(6,274)			(8,743)
Net assets					1,920			2,289
Capital and reserves
Called up share capital		3			2			2
Profit and loss account					1,918			2,287
Shareholders' funds					1,920			2,289

For the year ending 31 August 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 director acknowledges his 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 31 May 2017

.........................................
I R Gittins
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Premier Drylining And Plastering Limited
Notes to the Abbreviated Accounts for the Year Ended 31 August 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 & machinery	25% on cost
Motor vehicles	25% on cost

Work in progress

Work in progress 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. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

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.

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 3

Premier Drylining And Plastering Limited
Notes to the Abbreviated Accounts for the Year Ended 31 August 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 September 2015		19,904			19,904
Additions		2,665			2,665
At 31 August 2016		22,569			22,569
Depreciation
At 1 September 2015		8,872			8,872
Charge for the year		5,503			5,503
At 31 August 2016		14,375			14,375
Net book value
At 31 August 2016		8,194			8,194
At 31 August 2015		11,032			11,032

3	Share capital

Allotted, called up and fully paid shares

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

4	Related party transactions

Director's advances and credits

	2016 Advance/ Credit £	2016 Repaid £	2015 Advance/ Credit £	2015 Repaid £
I R Gittins
Director's loan account	15,514	2,970	15,514	-

Page 4