PALFREY & WEBB LIMITED
PALFREY & WEBB LIMITED
Registered number: 502777
Unaudited Financial Statements
For the Period 1 January 2016 to 30 June 2017
Fenn & Co
The Office, 4a Allendale Rd
Caister-On-Sea
Great Yarmouth
Norfolk
NR30 5ES
PALFREY & WEBB LIMITED
Unaudited Financial Statements
For the Period 1 January 2016 to 30 June 2017
Unaudited Financial Statements
| Contents | |
| Page | |
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| Balance Sheet | 1 |
| Notes to the Financial Statements | 3—4 |
PALFREY & WEBB LIMITED
Balance Sheet
As at
30 June 2017
Balance Sheet
Registered number:
502777
For the period ending 30 June 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
| Period to 30 June 2017 | 31 December 2015 | ||||
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 2 |
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| CURRENT ASSETS | |||||
| Debtors | 3 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 4 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 5 |
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| Revaluation reserve |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | 1,000 | 373,847 | |||
Directors' responsibilities:
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The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. -
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. -
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime. - The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
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Page 1
PALFREY & WEBB LIMITED
Balance Sheet (continued)
As at
30 June 2017
The notes on pages 3 to 4 form part of these financial statements.
Page 2
PALFREY & WEBB LIMITED
Notes to the Unaudited Accounts
For the Period 1 January 2016 to 30 June 2017
Notes to the Unaudited Accounts
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
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 form the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover form the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
1.3.
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 of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
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| Leasehold |
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1.4.
Investment properties
Investment properties shall not be subject to periodic charges for depreciation except for properties held on lease, which shall be depreciated at least over the period when the unexpired term is 20 years or less.
Investment properties shall be included in the balance sheet at their market value.
2.
Tangible Assets
| Land & Property | ||||
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| Freehold | Leasehold | Investment Properties | Total | |
| £ | £ | £ | £ | |
| Cost | ||||
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| Disposals |
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| Net Book Value | ||||
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3.
Debtors
| Period to 30 June 2017 | 31 December 2015 | ||
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| £ | £ | ||
| Due within one year | |||
| Chand Properties Ltd |
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| VAT Recoverable |
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PALFREY & WEBB LIMITED
Notes to the Unaudited Accounts (continued)
For the Period 1 January 2016 to 30 June 2017
4.
Creditors: Amounts Falling Due Within One Year
| Period to 30 June 2017 | 31 December 2015 | ||
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| £ | £ | ||
| Other creditors |
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| Gill Holdings (Current liabilities - creditors < 1 year) |
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| Gill AT Loan (Current liabilities - creditors < 1 year) |
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| T. Gill Loan (Current liabilities - creditors < 1 year) |
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| Chand Properties Ltd (Current liabilities - creditors < 1 year) |
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| Directors' loan accounts | - |
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6.
General Information
PALFREY & WEBB LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 502777 . The registered office is The Barn, Honingham Thorpe, Norwich Road, Calton, NR9 5BZ.
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