PETER_ONSLOW_LTD - Accounts

PETER ONSLOW LIMITED - Company Information

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Company Registration No. 04085135 (England and Wales)

PETER ONSLOW LTD

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 OCTOBER 2016

PETER ONSLOW LTD

CONTENTS

Page

Accountants' report

Abbreviated balance sheet

Notes to the abbreviated accounts

3 - 4

PETER ONSLOW LTD

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF PETER ONSLOW LTD FOR THE YEAR ENDED 31 OCTOBER 2016

- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Peter Onslow Ltd for the year ended 31 October 2016 set out on pages 2 to 4 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at icaew.com/regulations.

This report is made solely to the Board of Directors of Peter Onslow Ltd, as a body, in accordance with the terms of our engagement letter dated 27 November 2014. Our work has been undertaken solely to prepare for your approval the financial statements of Peter Onslow Ltd and state those matters that we have agreed to state to the Board of Directors of Peter Onslow Ltd, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Peter Onslow Ltd and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Peter Onslow Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Peter Onslow Ltd. You consider that Peter Onslow Ltd 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 financial statements of Peter Onslow Ltd. 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 financial statements.

Moore and Smalley LLP

Chartered Accountants

Fylde House

Skyways Commercial Campus

Amy Johnson Way

Blackpool

FY4 3RS

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

PETER ONSLOW LTD

ABBREVIATED BALANCE SHEET

AS AT

31 OCTOBER 2016

- 2 -

2016

2015

Notes

Fixed assets

Tangible assets

74,667

66,583

Current assets

Stocks

543,000

628,500

Debtors

83,859

96,865

Cash at bank and in hand

7,063

633,922

725,365

Creditors: amounts falling due within one year

(921,760)

(1,030,335)

Net current liabilities

(287,838)

(304,970)

Total assets less current liabilities

(213,171)

(238,387)

(213,171)

(238,387)

Capital and reserves

Called up share capital

20,001

Profit and loss account

(233,172)

(258,388)

Shareholders' funds

(213,171)

(238,387)

For the financial year ended 31 October 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 financial statements for the year in question in accordance with section 476;

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

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on .........................

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

Mr P Onslow

Director

Company Registration No. 04085135

PETER ONSLOW LTD

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 OCTOBER 2016

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for livestock and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets other than freehold land are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Land and buildings Freehold

not depreciated

Plant and machinery

15% reducing balance

1.5

Stock

Stock is valued at the estimated market value.

1.6

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

1.7

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either 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.

PETER ONSLOW LTD

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 OCTOBER 2016

- 4 -

Fixed assets

Tangible assets

Cost

At 1 November 2015

95,385

Additions

11,667

At 31 October 2016

107,052

Depreciation

At 1 November 2015

28,802

Charge for the year

3,583

At 31 October 2016

32,385

Net book value

At 31 October 2016

74,667

At 31 October 2015

66,583

Share capital

2016

2015

Allotted, called up and fully paid

20,001 ordinary of £1 each

20,001