Professional Remediation Limited - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 07040597 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 October 2014

for

Professional Remediation Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Chartered Accountants' Report

6

DIRECTORS:

P Hardman

A Shepherd

REGISTERED OFFICE:

8 -10 Bolton Street

Ramsbottom

Bury

Lancs

BL0 9HX

REGISTERED NUMBER:

07040597 (England and Wales)

ACCOUNTANTS:

Cowgill, Holloway & Co

8 -10 Bolton Street

Ramsbottom

Bury

Lancs

BL0 9HX

FIXED ASSETS

Tangible assets

2

589,291

261,254

CURRENT ASSETS

Stocks

8,300

7,900

Debtors

1,390,284

1,489,621

Cash at bank

31

31

1,398,615

1,497,552

CREDITORS

Amounts falling due within one year

1,190,652

1,555,170

NET CURRENT ASSETS/(LIABILITIES)

207,963

(57,618

)

TOTAL ASSETS LESS CURRENT LIABILITIES

797,254

203,636

CREDITORS

Amounts falling due after more than one year

(369,993

)

(176,273

)

PROVISIONS FOR LIABILITIES

(109,312

)

(25,092

)

NET ASSETS

317,949

2,271

CAPITAL AND RESERVES

Called up share capital

3

100

100

Profit and loss account

317,849

2,171

SHAREHOLDERS' FUNDS

317,949

2,271

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2014 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors on 16 March 2015 and were signed on its behalf by:

P Hardman - 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 value of work done, 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.

Plant and machinery

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Office equipment

-

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 which have originated but not reversed at the

balance sheet date. Timing differences are differences between taxable profits and the results as stated in the

financial statements which arise from the inclusion of gains and losses in tax assessments in periods different

from those in which they are recognised in the financial statements.

Deferred tax is not recognised when fixed assets are revalued unless by the balance sheet date there is a binding

agreement to sell the revalued asset and the resulting gain or loss has been recognised in the financial statements.

Neither is deferred tax recognised when fixed assets are sold and it is more likely than not that the taxable gain

will be rolled over, being charged tax only if and when the replacement assets are sold.

Deferred tax is measured at the average tax rates which are expected to apply in the periods in which the timing

differences are expected to reverse, based on tax rates and laws which have been enacted or substantively

enacted by the balance sheet date. Deferred tax is measured on a non - discounted basis.

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.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2013

306,642

Additions

450,011

Disposals

(69,000

)

At 31 October 2014

687,653

DEPRECIATION

At 1 November 2013

45,388

Charge for year

73,097

Eliminated on disposal

(20,123

)

At 31 October 2014

98,362

NET BOOK VALUE

At 31 October 2014

589,291

At 31 October 2013

261,254

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.10.14

31.10.13

value:

£

£

100

Ordinary

£1

100

100

4.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included in creditors is £583 (2013: £2,384) due to Mr P Hardman and £2557 (2013: £4,207) due to A

Shepherd.

Dividends paid to the directors during the period total £62,410 (2013: £60,000).

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to five)

have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Professional Remediation Limited for the year ended 31 October 2014 which comprise the Profit

and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information

and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject

to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Professional Remediation Limited, as a body, in accordance with

our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of

Professional Remediation Limited and state those matters that we have agreed to state to the Board of Directors of

Professional Remediation Limited, as a body, in this report in accordance with AAF 2/10 as detailed at

icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone

other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Professional Remediation Limited has kept adequate accounting records and to prepare

statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of

Professional Remediation Limited. You consider that Professional Remediation Limited is exempt from the statutory

audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Professional Remediation

Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and

explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Cowgill, Holloway & Co

8 -10 Bolton Street

Ramsbottom

Bury

Lancs

BL0 9HX

Date: .............................................