Company Registration No. 07652679 (England and Wales)
P&C Distribution & Supply Ltd
Abbreviated unaudited accounts
for the year ended 31 May 2016
P&C Distribution & Supply Ltd
Abbreviated Balance Sheet
as at 31 May 2016
Tangible assets
66,901
88,622
Cash at bank and in hand
25,948
22,535
Creditors: amounts falling due within one year
(132,078)
(149,607)
Net current liabilities
(67,719)
(88,962)
Total assets less current liabilities
(818)
(340)
Provisions for liabilities
(13,365)
(17,707)
Net liabilities
(14,183)
(18,047)
Called up share capital
100
100
Profit and loss account
(14,283)
(18,147)
Total shareholders' funds
(14,183)
(18,047)
For the year ending 31 May 2016 the company was entitled to exemption from audit 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
Approved by the board on 4 September 2017
Ismail Abubakir
Director
Company Registration No. 07652679
P&C Distribution & Supply Ltd
Notes to the Abbreviated Accounts
for the year ended 31 May 2016
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% on reduding balance
Fixtures & fittings
20% on reducing balance
Computer equipment
33% on reducing balance
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Monetary 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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Charge for the year
21,721
P&C Distribution & Supply Ltd
Notes to the Abbreviated Accounts
for the year ended 31 May 2016
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
