Premier Road Surfacing Ltd - Abbreviated accounts

Premier Road Surfacing Ltd - Abbreviated accounts


Registered number
04127818
Premier Road Surfacing Ltd
Abbreviated Accounts
31 March 2015
Business Services (Leicester) Ltd
The Manor
Main Street
Tur Langton
LE8 0PJ
01858 540303
Premier Road Surfacing Ltd
Registered number: 04127818
Abbreviated Balance Sheet
as at 31 March 2015
Notes 2015 2014
£ £
Fixed assets
Tangible assets 2 1,070,837 1,141,159
Current assets
Debtors 1,438,163 850,126
Cash at bank and in hand 555,715 271
1,993,878 850,397
Creditors: amounts falling due within one year (1,414,327) (657,449)
Net current assets 579,551 192,948
Total assets less current liabilities 1,650,388 1,334,107
Creditors: amounts falling due after more than one year (416,786) (322,243)
Provisions for liabilities (164,027) (96,422)
Net assets 1,069,575 915,442
Capital and reserves
Called up share capital 3 1,000 1,000
Profit and loss account 1,068,575 914,442
Shareholders' funds 1,069,575 915,442
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
M S Varnham
Director
Approved by the board on 21 July 2015
Premier Road Surfacing Ltd
Notes to the Abbreviated Accounts
for the year ended 31 March 2015
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
Turnover
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Plant and machinery 15% reducing balance
Motor vehicles 25% reducing balance
Deferred taxation
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.
Leasing and hire purchase commitments
Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability.

The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.

Rentals paid under operating leases are charged to income on a straight line basis over the lease term.
2 Tangible fixed assets £
Cost
At 1 April 2014 1,707,362
Additions 637,650
Disposals (704,790)
At 31 March 2015 1,640,222
Depreciation
At 1 April 2014 566,203
Charge for the year 219,025
On disposals (215,843)
At 31 March 2015 569,385
Net book value
At 31 March 2015 1,070,837
At 31 March 2014 1,141,159
3 Share capital Nominal 2015 2015 2014
value Number £ £
Allotted, called up and fully paid:
Ordinary shares £1 each 1,000 1,000 1,000
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