P_B_M_&_D_LIMITED - Accounts
P_B_M_&_D_LIMITED - Accounts
Company Registration No. 03775709 (England and Wales)
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2014
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2014
- 1 -
2014
2013
Notes
£
£
£
£
Fixed assets
Tangible assets
2
Current assets
Debtors
Creditors: amounts falling due within one year
(43,405 )
(80,044 )
Net current liabilities
(19,517 )
(75,429 )
Total assets less current liabilities
Creditors: amounts falling due after more than one year
-
(15,186 )
Capital and reserves
Called up share capital
3
Revaluation reserve
Profit and loss account
Shareholders' funds
Directors' responsibilities:
-
-
Approved by the Board and authorised for issue on 23 December 2014
Director
Company Registration No. 03775709
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2014
- 2 -
1
Accounting policies
1.1
Accounting convention
The directors, having regard to the nature, size and complexity of the business, have assessed the financial risks affecting the company and it's operations for the 12 months from the approval of the financial statements and consider it appropriate to prepare the financial statements on a going concern basis.
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
1.4
Tangible fixed assets and depreciation
Fixtures, fittings & equipment
Investment properties are included in the balance sheet at their open market value. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.
Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.
Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.
1.5
Deferred taxation
Deferred taxation is provided at appropriate rates on all timing differences using the liability method only to the extent that, in the opinion of the directors, there is a reasonable probability that a liability or asset will crystallise in the foreseeable future.
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2014
- 3 -
2
Fixed assets
Tangible assets
£
Cost or valuation
At 1 April 2013
223,192
Revaluation
(53,204)
Disposals
(21,822)
At 31 March 2014
148,166
Depreciation
At 1 April 2013
1,283
Charge for the year
282
At 31 March 2014
1,565
Net book value
At 31 March 2014
146,601
At 31 March 2013
221,909
3
Share capital
2014
2013
£
£
Allotted, called up and fully paid