Accounts filed on 31-03-2014

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			Company registration number:05505221
			PALM FENCING LTD
			ABBREVIATED FINANCIAL STATEMENTS
			FOR THE YEAR ENDED 31 March 2014

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PALM FENCING LTD
BALANCE SHEET
AS AT 31 March 2014
			2014				2013
		Notes	£		£		£		£
FIXED ASSETS
Tangible assets		2			2,925				10,140
					2,925				10,140
CURRENT ASSETS
Stocks			1,000				1,000
Debtors			16,163				54,647
Cash at bank and in hand			19,052				1,870
			36,215				57,517
CREDITORS
Amounts falling due within one year			(36,743)				(56,443)
NET CURRENT ASSETS					(528)				1,074
TOTAL ASSETS LESS
CURRENT LIABILITIES					2,397				11,214
PROVISIONS FOR LIABILITIES					(14)				(14)
NET ASSETS					2,383				11,200
CAPITAL AND RESERVES
Called-up equity share capital		3			100				100
Profit and loss account					2,283				11,100
SHAREHOLDERS FUNDS					2,383				11,200
For the year ending 31 March 2014 the company was entitled to exemption 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 the accounts.
These financial statements have been prepared in accordance with the special provisions relating to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). Approved by the board of directors on 30 December 2014 and signed on its behalf.
..........................................................................
G Palmer
30 December 2014
The annexed notes form part of these financial statements.

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PALM FENCING LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2014

1.

Accounting policies

Basis of preparing the financial statements

The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Statement of cashflow

The Company has taken advantage of the exemption in Financial Reporting Standard No.1 from the requirement to produce a cashflow statement on the grounds that it is a small company.

Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Fixed assets

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following bases: Fixtures and fittings - 20% per annum of cost Motor vehicles - 20% per annum of cost

Stocks and work In progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Leasing

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets and depreciated over the shorter of the lease term and their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

2.	Tangible fixed assets
				Total
	Cost
	At start of period			29,750
	At end of period			29,750
	Depreciation
	At start of period			19,610
	Provided during the period			7,215
	At end of period			26,825
	Net Book Value
	At start of period			10,140
	At end of period			2,925

3.	Share capital				Allotted, issued and fully paid
					2014	2013
					£	£
	Ordinary Shares of £1 each				100	100
	Total issued share capital				100	100