Red Penguin Associates Ltd - Abbreviated accounts 16.3

REGISTERED NUMBER: 06430404 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 30 NOVEMBER 2016

FOR

RED PENGUIN ASSOCIATES LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

C A L Sturgeon

P S D Worrall

SECRETARY:

Ms A G Dunleavy

REGISTERED OFFICE:

Appledram Barns

Birdham Road

Chichester

West Sussex

PO20 7EQ

REGISTERED NUMBER:

06430404 (England and Wales)

ACCOUNTANTS:

Lewis Brownlee (Chichester) Limited

Chartered Accountants

Appledram Barns

Birdham Road

Chichester

West Sussex

PO20 7EQ

FIXED ASSETS

Tangible assets

2

3,670

4,161

CURRENT ASSETS

Debtors

891,603

748,993

Cash at bank and in hand

440,019

1,039,583

1,331,622

1,788,576

CREDITORS

Amounts falling due within one year

471,927

588,942

NET CURRENT ASSETS

859,695

1,199,634

TOTAL ASSETS LESS CURRENT LIABILITIES

863,365

1,203,795

PROVISIONS FOR LIABILITIES

735

1,027

NET ASSETS

862,630

1,202,768

CAPITAL AND RESERVES

Called up share capital

3

70

100

Capital redemption reserve

30

-

Profit and loss account

862,530

1,202,668

SHAREHOLDERS' FUNDS

862,630

1,202,768

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2016 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 5 June 2017 and were signed on its behalf by:

C A L Sturgeon - 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 January 2015).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax, except in respect of service contracts

where turnover is recognised when the company obtains the right to consideration.

Tangible fixed assets

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

Fixtures and fittings

-

33% on cost

Computer equipment

-

33% on cost

Deferred tax

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

sheet date.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance

sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the

date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 December 2015

30,707

Additions

2,915

Disposals

(15,871

)

At 30 November 2016

17,751

DEPRECIATION

At 1 December 2015

26,546

Charge for year

3,406

Eliminated on disposal

(15,871

)

At 30 November 2016

14,081

NET BOOK VALUE

At 30 November 2016

3,670

At 30 November 2015

4,161

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

70

Ordinary

£1

70

100

4.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 November 2016 and

30 November 2015:

2016

2015

£

£

P S D Worrall

Balance outstanding at start of year

15,000

369

Amounts advanced

-

15,000

Amounts repaid

(15,000

)

(369

)

Balance outstanding at end of year

-

15,000

During the year the company paid reimbursed business expenses to the director, P S D Worrall, totalling £1,284.

At the year end, P S D Worrall owed the company £228. This was fully repaid after the year end.

At the year end the director, C Sturgeon, owed the company £485. This was fully repaid after the year end.