Paul's Plaice Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 03087573 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 30 June 2014

for

Paul's Plaice Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

P A Teague

SECRETARY:

Mrs G Teague

REGISTERED OFFICE:

9 St George's Yard

Farnham

Surrey

GU9 7LW

REGISTERED NUMBER:

03087573 (England and Wales)

ACCOUNTANTS:

Blackwood Futcher & Co.

Chartered Accountants

9 St George's Yard

Farnham

Surrey

GU9 7LW

FIXED ASSETS

Tangible assets

2

59,579

59,490

CURRENT ASSETS

Stocks

500

500

Debtors

1,205,160

1,319,133

Cash at bank

188,724

5,843

1,394,384

1,325,476

CREDITORS

Amounts falling due within one year

123,525

96,186

NET CURRENT ASSETS

1,270,859

1,229,290

TOTAL ASSETS LESS CURRENT LIABILITIES

1,330,438

1,288,780

CREDITORS

Amounts falling due after more than one year

3

(537,703

)

(583,937

)

PROVISIONS FOR LIABILITIES

(9,549

)

(7,031

)

NET ASSETS

783,186

697,812

CAPITAL AND RESERVES

Called up share capital

4

1,000

1,000

Capital redemption reserve

24,847

24,847

Profit and loss account

757,339

671,965

SHAREHOLDERS' FUNDS

783,186

697,812

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2014 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 10 January 2015 and were signed by:

P A Teague - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements 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 net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Long leasehold

-

10% on cost

St Cross refurbishment

-

10% on reducing balance

St Cross equipment

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

20% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2013

324,117

Additions

23,640

Disposals

(14,998

)

At 30 June 2014

332,759

DEPRECIATION

At 1 July 2013

264,627

Charge for year

17,793

Eliminated on disposal

(9,240

)

At 30 June 2014

273,180

NET BOOK VALUE

At 30 June 2014

59,579

At 30 June 2013

59,490

3.

CREDITORS

Creditors include the following debts falling due in more than five years:

30.6.14

30.6.13

£

£

Repayable by instalments

364,407

426,641

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.14

30.6.13

value:

£

£

1,000

Ordinary

£1

1,000

1,000

5.	ULTIMATE PARENT COMPANY

Oak Park Leisure Limited is regarded by the director as being the company's ultimate parent company.

6.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2014 and

30 June 2013:

30.6.14

30.6.13

£

£

P A Teague

Balance outstanding at start of year

179,815

-

Amounts advanced

46,777

179,815

Amounts repaid

(179,815

)

-

Balance outstanding at end of year

46,777

179,815

The maximum amount outstanding during the period and due to the company is that stated above. No interest

was paid during the period on this balance.

7.	RELATED PARTY DISCLOSURES

8.	ULTIMATE CONTROLLING PARTY