Paul Fletcher Ltd - Period Ending 2015-05-31

Paul Fletcher Ltd - Period Ending 2015-05-31


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Registration number: 07260095

Paul Fletcher Ltd

Unaudited Abbreviated Accounts

for the Year Ended 31 May 2015
 

 

Paul Fletcher Ltd
Contents

Abbreviated Balance Sheet

1 to 2

Notes to the Abbreviated Accounts

3 to 4

 

Paul Fletcher Ltd
(Registration number: 07260095)
Abbreviated Balance Sheet at 31 May 2015

   

Note

   

2015
£

   

2014
£

 

Fixed assets

 

             

Intangible fixed assets

 

   

30,000

   

36,000

 

Tangible fixed assets

 

   

1,252

   

1,670

 
   

   

31,252

   

37,670

 

Current assets

 

             

Debtors

 

   

2,877

   

16,442

 

Cash at bank and in hand

 

   

34,548

   

25,527

 
   

   

37,425

   

41,969

 

Creditors: Amounts falling due within one year

 

   

(9,876)

   

(22,406)

 

Net current assets

 

   

27,549

   

19,563

 

Total assets less current liabilities

 

   

58,801

   

57,233

 

Creditors: Amounts falling due after more than one year

 

   

(36,697)

   

(41,619)

 

Provisions for liabilities

 

   

(250)

   

(334)

 

Net assets

 

   

21,854

   

15,280

 

Capital and reserves

 

             

Called up share capital

 

3

   

100

   

100

 

Profit and loss account

 

   

21,754

   

15,180

 

Shareholders' funds

 

   

21,854

   

15,280

 

For the year ending 31 May 2015 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 20 July 2015 and signed on its behalf by:

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

 

Paul Fletcher Ltd
(Registration number: 07260095)
Abbreviated Balance Sheet at 31 May 2015
......... continued


 
Mr Paul Fletcher
 
Director

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

 

Paul Fletcher Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 May 2015
......... 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 where applicable, in respect of services provided and work done for customers during the year.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

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

Asset class

Amortisation method and rate

Goodwill

10% straight line basis

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 economic life as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

25% reducing balance basis

Office equipment

25% reducing balance basis

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.

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.

 

Paul Fletcher Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 May 2015
......... continued

2

Fixed assets

   

Intangible assets
£

   

Tangible assets
£

   

Total
£

 

Cost

                 

At 1 June 2014

 

60,000

   

2,967

   

62,967

 

At 31 May 2015

 

60,000

   

2,967

   

62,967

 

Depreciation

                 

At 1 June 2014

 

24,000

   

1,297

   

25,297

 

Charge for the year

 

6,000

   

418

   

6,418

 

At 31 May 2015

 

30,000

   

1,715

   

31,715

 

Net book value

                 

At 31 May 2015

 

30,000

   

1,252

   

31,252

 

At 31 May 2014

 

36,000

   

1,670

   

37,670

 

3

Share capital

Allotted, called up and fully paid shares

 

2015

2014

   

No.

   

£

   

No.

   

£

 

Ordinary shares of £1 each

 

100

   

100

   

100

   

100