Company Registration No. 06413560 (England and Wales)
PALACE PLUMBING LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2014
PALACE PLUMBING LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2
PALACE PLUMBING LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2014
31 March 2014
- 1 -
2014
2013
Notes
£
£
£
£
Fixed assets
Tangible assets
2
1,737
2,317
Current assets
Debtors
4,632
6,211
Cash at bank and in hand
621
1,305
5,253
7,516
Creditors: amounts falling due within one year
(5,805)
(6,789)
Net current (liabilities)/assets
(552)
727
Total assets less current liabilities
1,185
3,044
Creditors: amounts falling due after more than one year
(2,337)
1,185
707
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
1,085
607
Shareholders' funds
1,185
707
For the financial year ended 31 March 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 10 December 2014
Mr C Avis
Director
Company Registration No. 06413560
PALACE PLUMBING LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2014
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Fixtures, fittings & equipment
25% Reducing Balance
Motor vehicles
25% Reducing Balance
2
Fixed assets
Tangible assets
£
Cost
At 1 April 2013 & at 31 March 2014
10,447
Depreciation
At 1 April 2013
8,130
Charge for the year
580
At 31 March 2014
8,710
Net book value
At 31 March 2014
1,737
At 31 March 2013
2,317
3
Share capital
2014
2013
£
£
Allotted, called up and fully paid
100 Ordinary Shares of £1 each
100
100
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