Pinestone Ltd - Filleted accounts

Pinestone Ltd
Registered number:		02951627
Balance Sheet
as at 31 December 2016

Notes			2016			2015
£				£
Fixed assets
Tangible assets	4		230,258			239,085

Current assets
Debtors	5	137,314			107,193
Cash at bank and in hand		221,988			147,271
		359,302			254,464

Creditors: amounts falling due within one year	6	(93,934)			(92,269)

Net current assets			265,368			162,195

Total assets less current liabilities			495,626			401,280


Provisions for liabilities			(885)			(1,232)


Net assets			494,741			400,048

Capital and reserves
Called up share capital			2			2
Profit and loss account			494,739			400,046

Shareholders' funds			494,741			400,048

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Mrs. V. M. Blackburn
Director
Approved by the board on 19 May 2017

Pinestone Ltd
Notes to the Accounts
for the year ended 31 December 2016


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Land and buildings	2% straight line basis
	Fixtures and equipment	25% reducing balance basis

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees			2016		2015
Number					Number

	Average number of persons employed by the company			29		29


3	Intangible fixed assets					£
	Goodwill:

	Cost
	At 1 January 2016					185,000
	At 31 December 2016					185,000

	Amortisation
	At 1 January 2016					185,000
	At 31 December 2016					185,000

	Net book value
	At 31 December 2016					-

	Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.


4	Tangible fixed assets
		Land and buildings		Fixtures and equipment		Total
£			£		£
	Cost
	At 1 January 2016	329,264		253,126		582,390
	At 31 December 2016	329,264		253,126		582,390

	Depreciation
	At 1 January 2016	99,149		244,156		343,305
	Charge for the year	6,585		2,242		8,827
	At 31 December 2016	105,734		246,398		352,132

	Net book value
	At 31 December 2016	223,530		6,728		230,258
	At 31 December 2015	230,115		8,970		239,085





5	Debtors			2016		2015
£					£

	Trade debtors			13,356		10,198
	Loan Heathercliffe Ltd			123,958		96,995
				137,314		107,193


6	Creditors: amounts falling due within one year			2016		2015
£					£

	Director's account			172		172
	Corporation tax			41,971		35,441
	Other taxes and social security costs			7,195		6,482
	Trade creditors and accrued expenses			44,596		50,174
				93,934		92,269


7	Controlling party

	The controlling party is Mrs. V. M. Blackburn by virtue of her ownership of 100% of the issued ordinary share capital of the company.


8	Other information

	Pinestone Ltd is a private company limited by shares and incorporated in England. Its registered office is:
	York House
	250 Middleton Road
	Manchester
	M8 4WA

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