Reid Painting & Decorating Limited - Limited company - abbreviated - 11.6

Reid Painting & Decorating Limited - Limited company - abbreviated - 11.6


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REGISTERED NUMBER: NI045359(Northern Ireland)















Abbreviated Unaudited Accounts for the Year Ended 31 March 2015

for

Reid Painting & Decorating Limited

Reid Painting & Decorating Limited (Registered number: NI045359)






Contents of the Abbreviated Accounts
for the Year Ended 31 March 2015




Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 4

Reid Painting & Decorating Limited

Company Information
for the Year Ended 31 March 2015







DIRECTOR: J Reid



SECRETARY: Mrs M P Reid



REGISTERED OFFICE: 18 Market Road
Ballymena
BT43 6EL



REGISTERED NUMBER: NI045359(Northern Ireland)



ACCOUNTANTS: J A McNicholl & Company Limited
18 Market Road
Ballymena
BT43 6EL



BANKERS: First Trust Bank
78 Wellington Street
Ballymena
BT43 6AF

Reid Painting & Decorating Limited (Registered number: NI045359)

Abbreviated Balance Sheet
31 March 2015

31.3.15 31.3.14
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 2 8,000 10,000
Tangible assets 3 32,567 24,239
40,567 34,239

CURRENT ASSETS
Stocks 12,250 15,800
Cash at bank and in hand 49 3,111
12,299 18,911
CREDITORS
Amounts falling due within one year 41,196 50,872
NET CURRENT LIABILITIES (28,897 ) (31,961 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

11,670

2,278

CREDITORS
Amounts falling due after more than
one year

7,200

1,118
NET ASSETS 4,470 1,160

Reid Painting & Decorating Limited (Registered number: NI045359)

Abbreviated Balance Sheet - continued
31 March 2015

31.3.15 31.3.14
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 4 300 300
Profit and loss account 4,170 860
SHAREHOLDERS' FUNDS 4,470 1,160

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2015 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 1 June 2015and were signed by:





J Reid- Director


Reid Painting & Decorating Limited (Registered number: NI045359)

Notes to the Abbreviated Accounts
for the Year Ended 31 March 2015

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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery - 20% on reducing balance
Motor vehicles - 20% on reducing balance
Computer 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.

2. INTANGIBLE FIXED ASSETS
Total
£   
COST
At 1 April 2014
and 31 March 2015 10,000
AMORTISATION
Amortisation for year 2,000
At 31 March 2015 2,000
NET BOOK VALUE

At 31 March 2015 8,000
At 31 March 2014 10,000

Reid Painting & Decorating Limited (Registered number: NI045359)

Notes to the Abbreviated Accounts - continued
for the Year Ended 31 March 2015

3. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 April 2014 45,979
Additions 13,342
At 31 March 2015 59,321
DEPRECIATION
At 1 April 2014 21,740
Charge for year 5,014
At 31 March 2015 26,754
NET BOOK VALUE
At 31 March 2015 32,567
At 31 March 2014 24,239

4. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.15 31.3.14
value: £    £   
300 Ordinary £1 300 300