Pronto Industrial Paints Ltd - Limited company - abbreviated - 11.6
Pronto Industrial Paints Ltd - Limited company - abbreviated - 11.6
| REGISTERED NUMBER: |
| Abbreviated Unaudited Accounts for the Year Ended 31 March 2014 |
| for |
| Pronto Industrial Paints Ltd |
| Pronto Industrial Paints Ltd (Registered number: 02978626) |
| Contents of the Abbreviated Accounts |
| for the Year Ended 31 March 2014 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 4 |
| Pronto Industrial Paints Ltd |
| Company Information |
| for the Year Ended 31 March 2014 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| SOLICITORS: |
| Pronto Industrial Paints Ltd (Registered number: 02978626) |
| Abbreviated Balance Sheet |
| 31 March 2014 |
| 2014 | 2013 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 2 |
| Investments | 3 |
| CURRENT ASSETS |
| Stocks |
| Debtors |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 4 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
4 |
( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 5 |
| Revaluation reserve |
| Profit and loss account |
| SHAREHOLDERS' FUNDS |
| 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. |
| Pronto Industrial Paints Ltd (Registered number: 02978626) |
| Abbreviated Balance Sheet - continued |
| 31 March 2014 |
| The financial statements were approved by the Board of Directors on by: |
| Pronto Industrial Paints Ltd (Registered number: 02978626) |
| Notes to the Abbreviated Accounts |
| for the Year Ended 31 March 2014 |
| 1. | ACCOUNTING POLICIES |
| Accounting convention |
| The financial statements have been prepared under the historical cost convention as modified by the revaluation |
| of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective April |
| 2008). |
| Preparation of consolidated financial statements |
| The financial statements contain information about Pronto Industrial Paints Ltd as an individual company and do |
| not contain consolidated financial information as the parent of a group. The company has taken the option under |
| Section 398 of the Companies Act 2006 not to prepare consolidated financial statements. |
| Exemption from preparing a cash flow statement |
| Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a |
| small company. |
| Turnover |
| Turnover comprises revenue recognised by the company in respect of goods and services supplied, exclusive of |
| Value Added Tax and trade discounts. All turnover is derived in the UK. |
| Tangible fixed assets |
| Freehold property | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
| moving items. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
| sheet date. |
| Research and development |
| Expenditure on research and development is written off in the year in which it is incurred. |
| 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 |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held |
| under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases |
| are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to the profit and loss account over the relevant period. The |
| capital element of the future payments is treated as a liability. |
| Rentals applicable to operating leases where substantially all of the benefits and risk of ownership remain with |
| the lessor are charged to the profit and loss account as incurred. |
| Pronto Industrial Paints Ltd (Registered number: 02978626) |
| Notes to the Abbreviated Accounts - continued |
| for the Year Ended 31 March 2014 |
| 1. | ACCOUNTING POLICIES - continued |
| 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 OR VALUATION |
| At 1 April 2013 |
| Additions |
| Disposals | ( |
) |
| At 31 March 2014 |
| DEPRECIATION |
| At 1 April 2013 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31 March 2014 |
| NET BOOK VALUE |
| At 31 March 2014 |
| At 31 March 2013 |
| 3. | FIXED ASSET INVESTMENTS |
| Investments |
| other |
| than |
| loans |
| £ |
| COST |
| At 1 April 2013 |
| and 31 March 2014 | 5 |
| NET BOOK VALUE |
| At 31 March 2014 |
| At 31 March 2013 |
| The company's investments at the balance sheet date in the share capital of companies include the following: |
| Country of incorporation: Scotland |
| Nature of business: |
| % |
| Class of shares: | holding |
| Ordinary | 100.00 |
| Pronto Industrial Paints Ltd (Registered number: 02978626) |
| Notes to the Abbreviated Accounts - continued |
| for the Year Ended 31 March 2014 |
| 3. | FIXED ASSET INVESTMENTS - continued |
| Country of incorporation: Scotland |
| Nature of business: |
| % |
| Class of shares: | holding |
| Ordinary | 100.00 |
| Nature of business: |
| % |
| Class of shares: | holding |
| Ordinary | 100.00 |
| 4. | CREDITORS |
| Creditors include an amount of £ |
| 5. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2014 | 2013 |
| value: | £ | £ |
| Ordinary | £1 |
| B | £1 |