Pittstop (Ripon) Limited - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 02703134

Abbreviated Accounts for the Year Ended 31 May 2015

for

Pittstop (Ripon) Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

D R G Pitt

Mrs K G Pitt

SECRETARY:

Mrs K G Pitt

REGISTERED OFFICE:

P O Box 55

Eva Lett House

1 South Crescent

Ripon

North Yorkshire

HG4 1SN

REGISTERED NUMBER:

02703134

ACCOUNTANTS:

Eura Audit UK

P O Box 55

Eva Lett House

1 South Crescent

Ripon

North Yorkshire

HG4 1XW

FIXED ASSETS

Tangible assets

2

1,856,120

1,331,233

Investments

3

1,373,931

1,396,370

3,230,051

2,727,603

CURRENT ASSETS

Stocks

161,010

155,655

Debtors

29,250

65,557

Cash at bank

302,662

632,435

492,922

853,647

CREDITORS

Amounts falling due within one year

72,367

109,372

NET CURRENT ASSETS

420,555

744,275

TOTAL ASSETS LESS CURRENT LIABILITIES

3,650,606

3,471,878

CAPITAL AND RESERVES

Called up share capital

4

200,000

200,000

Revaluation reserve

149,334

87,334

Profit and loss account

3,301,272

3,184,544

SHAREHOLDERS' FUNDS

3,650,606

3,471,878

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2015 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 and authorised for issue by the Board of Directors on 17 February 2016 and were signed on its behalf by:

D R G Pitt - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the revaluation

of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective April

2008).

The financial statements have been prepared under the historical cost convention modified by the revaluation of

properties and in accordance with applicable accounting standards. The financial statements are in compliance

with the Companies Act 2006 except that, as explained below, investment properties are not depreciated.

Turnover

Turnover represents net invoiced sales of goods and services, 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.

Land and buildings

-

not provided

Plant and machinery etc

-

15% 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 provided on the liability method to take account of timing differences between the treatment of

certain items for accounts purposes and their treatment for tax purposes. Tax deferred is accounted for in respect

of all material timing differences

Tangible fixed assets

In accordance with SSAP 19 , no depreciation is provided in respect of freehold properties. This is a departure

from the requirements of the Companies Act 2006 which requires all properties to be depreciated. Such

properties are not held for consumption but for investment and the directors consider that to depreciate them

would not give a true and fair view. Depreciation is only one of many factors reflected in the annual valuation of

properties and accordingly the amount of depreciation which might otherwise have been charged cannot be

separately identified or quantified. The directors consider that this policy results in the accounts giving a true and

fair view.

2.	TANGIBLE FIXED ASSETS

Total

£

COST OR VALUATION

At 1 June 2014

1,479,147

Additions

463,072

Revaluations

62,000

At 31 May 2015

2,004,219

DEPRECIATION

At 1 June 2014

147,914

Charge for year

185

At 31 May 2015

148,099

NET BOOK VALUE

At 31 May 2015

1,856,120

At 31 May 2014

1,331,233

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 June 2014

1,396,370

Additions

101,717

Disposals

(124,156

)

At 31 May 2015

1,373,931

NET BOOK VALUE

At 31 May 2015

1,373,931

At 31 May 2014

1,396,370

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

200,000

Ordinary

£1.00

200,000

200,000