Primeshield (UK & Europe) Ltd - Period Ending 2014-04-30

Registration number: 07225872

Primeshield (UK & Europe) Ltd

Unaudited Abbreviated Accounts

for the Year Ended 30 April 2014
 

Primeshield (UK & Europe) Ltd
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 5

Primeshield (UK & Europe) Ltd
(Registration number: 07225872)
Abbreviated Balance Sheet at 30 April 2014

		Note			2014 £			2013 £
Fixed assets
Intangible fixed assets					6,319			-
Tangible fixed assets					31,884			32,209
					38,203			32,209
Current assets
Stocks					41,188			41,188
Debtors					61,498			23,751
Cash at bank and in hand					20,775			-
					123,461			64,939
Creditors: Amounts falling due within one year					(137,329)			(146,707)
Net current liabilities					(13,868)			(81,768)
Total assets less current liabilities					24,335			(49,559)
Creditors: Amounts falling due after more than one year					(110,000)			-
Net liabilities					(85,665)			(49,559)
Capital and reserves
Called up share capital		3			1			1
Profit and loss account					(85,666)			(49,560)
Shareholders' deficit					(85,665)			(49,559)

For the year ending 30 April 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 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 in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 30 January 2015 and signed on its behalf by:

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 1

Primeshield (UK & Europe) Ltd
(Registration number: 07225872)
Abbreviated Balance Sheet at 30 April 2014
......... continued

.........................................
Mr James Parsons
Director

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

Primeshield (UK & Europe) Ltd
Notes to the Abbreviated Accounts for the Year Ended 30 April 2014
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful lives as follows:

Asset class	Amortisation method and rate
Development costs, patents and similar	20% straight line

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful lives as follows:

Asset class	Depreciation method and rate
Plant & machinery	15% reducing balance

Research and development

Development expenditure incurred on an individual project is carried forward when its future recoverability can reasonably be regarded as assured. Any expenditure carried forward is amortised in line with the expected future sales from the related project.

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Page 3

Primeshield (UK & Europe) Ltd
Notes to the Abbreviated Accounts for the Year Ended 30 April 2014
......... continued

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 May 2013		-			45,225			45,225
Additions		7,899			5,301			13,200
At 30 April 2014		7,899			50,526			58,425
Depreciation
At 1 May 2013		-			13,016			13,016
Charge for the year		1,580			5,626			7,206
At 30 April 2014		1,580			18,642			20,222
Net book value
At 30 April 2014		6,319			31,884			38,203
At 30 April 2013		-			32,209			32,209

3	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary shares of £1 each		1			1			1			1

Page 4

Primeshield (UK & Europe) Ltd
Notes to the Abbreviated Accounts for the Year Ended 30 April 2014
......... continued

4	Related party transactions

Directors' advances and credits

	2014 Advance/ Credit £	2014 Repaid £	2013 Advance/ Credit £	2013 Repaid £
Ms Isabel Mary Gainford
Aggregate in period	1,500	-	10,650	-
Mr Gerald James Spencer
Aggregate in period	1,900	-	-	-

Page 5