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

REGISTERED NUMBER: NI045359 (Northern Ireland)

Abbreviated Unaudited Accounts for the Year Ended 31 March 2015

for

Reid Painting & Decorating Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

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

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

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 2015 and were signed by:

J Reid - 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 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

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