PRL Supply Chain Solutions Limited - Period Ending 2014-07-31

Registration number: 06647449

PRL Supply Chain Solutions Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 July 2014
 

PRL Supply Chain Solutions Limited
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 4

PRL Supply Chain Solutions Limited
(Registration number: 06647449)
Abbreviated Balance Sheet at 31 July 2014

		Note			2014 £			2013 £
Fixed assets
Tangible fixed assets		2			178			351
Investments		2			50			50
					228			401
Current assets
Debtors					25,742			150
Cash at bank and in hand					32,831			2,760
					58,573			2,910
Creditors: Amounts falling due within one year					(51,520)			(2,881)
Net current assets					7,053			29
Total assets less current liabilities					7,281			430
Provisions for liabilities					(36)			-
Net assets					7,245			430
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					7,145			330
Shareholders' funds					7,245			430

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 1

PRL Supply Chain Solutions Limited
(Registration number: 06647449)
Abbreviated Balance Sheet at 31 July 2014
......... continued

For the year ending 31 July 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 15 December 2014 and signed on its behalf by:

.........................................
P R Loft
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

PRL Supply Chain Solutions Limited
Notes to the Abbreviated Accounts for the Year Ended 31 July 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 the total invoice value, excluding value added tax, of sales made during the year. Income is recognised based on the date goods are despatched and the level of completion of services.

Depreciation

Tangible fixed assets are initially recorded at cost. Depreciation is provided on tangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Fixtures and fittings	33% straight line basis

Fixed asset investments

Fixed asset investments are stated at historical cost less provision for any diminution in value.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Page 3

PRL Supply Chain Solutions Limited
Notes to the Abbreviated Accounts for the Year Ended 31 July 2014
......... continued

2	Fixed assets

		Tangible assets £			Investments £			Total £
Cost
At 1 August 2013		1,145			50			1,195
At 31 July 2014		1,145			50			1,195
Depreciation
At 1 August 2013		794			-			794
Charge for the year		173			-			173
At 31 July 2014		967			-			967
Net book value
At 31 July 2014		178			50			228
At 31 July 2013		351			50			401

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Holding

Proportion of voting rights and shares held

Principal activity

Subsidiary undertakings
Liquid Gold Consulting Limited	Ordinary A shares	50%	Dormant

3	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary A Shares of £1 each		60			60			60			60
Ordinary B Shares of £1 each		40			40			40			40
		100			100			100			100

Page 4