P M Wall Ltd - Limited company - abbreviated - 11.6

P M WALL LTD

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2014

Page

Company Information

1

Chartered Accountants' Report

2

Abbreviated Balance Sheet

3

Notes to the Abbreviated Accounts

5

DIRECTORS:

P M Wall

Mrs M Wall

SECRETARY:

Mrs M Wall

REGISTERED OFFICE:

3/5 College Street

Burnham on Sea

Somerset

TA8 1AR

REGISTERED NUMBER:

06062157 (England and Wales)

ACCOUNTANTS:

T P Lewis & Partners

Chartered Accountants

3/5 College Street

Burnham on Sea

Somerset

TA8 1AR

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 three to six)

have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of P M Wall Ltd for the year ended 31 March 2014 which comprise the Profit and Loss Account,

the Balance Sheet and the related notes 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 (ICAEW), we are subject

to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of P M Wall Ltd, as a body, in accordance with our terms of

engagement. Our work has been undertaken solely to prepare for your approval the financial statements of P M Wall Ltd

and state those matters that we have agreed to state to the Board of Directors of P M Wall 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 the company and its Board of Directors, as a body, for our work or

for this report.

It is your duty to ensure that P M Wall 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 P M Wall Ltd. You

consider that P M Wall 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 P M Wall 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.

T P Lewis & Partners

Chartered Accountants

3/5 College Street

Burnham on Sea

Somerset

TA8 1AR

19 November 2014

FIXED ASSETS

Intangible assets

2

5,578

7,464

Tangible assets

3

6,207

8,225

11,785

15,689

CURRENT ASSETS

Stocks

1,375

1,500

Debtors

18,314

20,372

19,689

21,872

CREDITORS

Amounts falling due within one year

29,933

35,669

NET CURRENT LIABILITIES

(10,244

)

(13,797

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,541

1,892

PROVISIONS FOR LIABILITIES

1,241

1,645

NET ASSETS

300

247

CAPITAL AND RESERVES

Called up share capital

4

100

100

Profit and loss account

200

147

SHAREHOLDERS' FUNDS

300

247

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2014 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 19 November 2014 and were signed on its behalf by:

P M Wall - 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 April 2008).

Turnover

Turnover represents net invoiced supply and installation of flooring materials, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Cost is calculated on a first in, first out basis.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2013

and 31 March 2014

18,660

AMORTISATION

At 1 April 2013

11,196

Amortisation for year

1,886

At 31 March 2014

13,082

NET BOOK VALUE

At 31 March 2014

5,578

At 31 March 2013

7,464

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2013

and 31 March 2014

13,620

DEPRECIATION

At 1 April 2013

5,395

Charge for year

2,018

At 31 March 2014

7,413

NET BOOK VALUE

At 31 March 2014

6,207

At 31 March 2013

8,225

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

100

Ordinary

£1

100

100

5.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2014 and

31 March 2013:

2014

2013

£

£

P M Wall and Mrs M Wall

Balance outstanding at start of year

16,628

12,230

Amounts advanced

41,250

15,698

Amounts repaid

(43,642

)

(11,300

)

Balance outstanding at end of year

14,236

16,628

The loan was repaid within 9 months of the 31 March 2014 and interest is charged on a monthly basis to the

overdrawn loan account at a rate of 4%. A total of £676 was charged to the loan account and is shown under

interest received.