P & M Flooring Limited Accounts

P & M FLOORING LIMITED - Company Information






P & M Flooring Limited
	Company No. 03333430
		Information for Filing with The Registrar
		31 March 2017

The Directors present their report and the accounts for the year ended 31 March 2017.

Principal activities
The principal activity of the company during the year under review was . Specialised Flooring Services




Directors

The Directors who served at any time during the year were as follows:

P. Greenshields
S. Greenshields
J. Watson
M. Watson
































































The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.

Signed on behalf of the board

P. Greenshields
Director
07 June 2017

at	31 March 2017

Company No.		03333430	Notes	2017	2016
				£	£
Fixed assets

	Tangible assets		2	20,626	18,666


				20,626	18,666
Current assets
	Stocks		3	72,900	58,500
	Debtors		4	12,778	19,153

	Cash at bank and in hand			85,477	104,859
				171,155	182,512
Creditors: Amount falling due within one year			5	(188,581)	(190,968)
Net current liabilities				(17,426)	(8,456)
Total assets less current liabilities				3,200	10,210
Creditors: Amounts falling due after more than one year			6	(5,604)	(10,059)



Net (liabilities)/assets				(2,404)	151

Capital and reserves
	Called up share capital			100	100



	Profit and loss account			(2,504)	51

Total equity				(2,404)	151


These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 31 March 2017 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 directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.

Approved by the board on 07 June 2017					true

And signed on its behalf by:

P. Greenshields
Director
07 June 2017

for the year ended 31 March 2017

Accounting policies

Basis of preparation

The accounts have been prepared in accordance with FRS 102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. There were no material departures from that standard.

The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets and in accordance with the accounting policies set out below.

Turnover

Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.

Tangible fixed assets and depreciation

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.

Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:

Freehold buildings

18% Reducing Balance

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.

Trade and other creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2	Tangible fixed assets
			Plant and machinery	Total
			£	£
		Cost or revaluation
		At 1 April 2016	34,305	34,305
		Additions	6,488	6,488



		At 31 March 2017	40,793	40,793
		Depreciation
		At 1 April 2016	15,639	15,639
		Charge for the year	4,528	4,528



		At 31 March 2017	20,167	20,167
		Net book values
		At 31 March 2017	20,626	20,626
		At 31 March 2016	18,666	18,666

3	Stocks
			2017	2016
			£	£

		Work in progress	72,900	58,500

			72,900	58,500

4	Debtors
			2017	2016
			£	£
		Trade debtors	12,778	17,826




		Loans to directors	-	1,327


			12,778	19,153

5	Creditors:
		amounts falling due within one year
			2017	2016
			£	£




		Trade creditors	111,182	92,881

		Corporation tax	45,542	44,184
		Other taxes and social security	18,969	39,839
		Loans from directors	712	-
		Other creditors	11,376	12,775
		Accruals and deferred income	800	1,289
			188,581	190,968

6	Creditors:
		amounts falling due after more than one year
			2017	2016
			£	£



		Obligations under finance lease and hire purchase contracts	5,604	10,059




			5,604	10,059

7	Reserves
			Total other reserves
			£













		Profit and loss account - includes all current and prior period retained profits and losses.

8	Dividends
			2017	2016
			£	£
		Dividends for the period:




		Dividends by type:

		Equity dividends	184,000	200,000
			184,000	200,000

Related party disclosures

Controlling party

Immediate controlling party

No single party controls the company.

Additional information

It's registered number is:

03333430

It's registered office is:

123 Cross Lane East

Gravesend

Kent

DA12 5HA