PW Drylining Services Limited - Abbreviated accounts

PW Drylining Services Limited - Abbreviated accounts


Registered number
07764200
PW Drylining Services Limited
Abbreviated Accounts
Year ended 31 March 2016
PW Drylining Services Limited
Report to the director on the preparation of the unaudited abbreviated accounts of
PW Drylining Services Limited for the year ended 31 March 2016
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abbreviated accounts of PW Drylining Services Limited for the year ended 31 March 2016 which comprise of the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://rulebook.accaglobal.com/
This report is made solely to the Board of Directors of PW Drylining Services Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of PW Drylining Services Limited and state those matters that we have agreed to state to the Board of Directors of PW Drylining Services Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than PW Drylining Services Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that PW Drylining Services Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of PW Drylining Services Limited. You consider that PW Drylining Services Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of PW Drylining Services Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the abbreviated accounts.
LW Accountants
Chartered Certified Accountants
73 Crostons Road
Bury
Lancashire
BL8 1LB
10 June 2016
PW Drylining Services Limited
Registered number: 07764200
Abbreviated Balance Sheet
as at 31 March 2016
Notes 2016 2015
£ £
Fixed assets
Tangible assets 2 4,563 6,084
Current assets
Debtors 4,452 5,810
Cash at bank and in hand 1 75
4,453 5,885
Creditors: amounts falling due within one year (5,137) (6,022)
Net current liabilities (684) (137)
Total assets less current liabilities 3,879 5,947
Creditors: amounts falling due after more than one year (4,194) (5,719)
Net (liabilities)/assets (315) 228
Capital and reserves
Called up share capital 3 1 1
Profit and loss account (316) 227
Shareholder's funds (315) 228
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
P Wilson
Director
Approved by the board on 10 June 2016
PW Drylining Services Limited
Notes to the Abbreviated Accounts
for the year ended 31 March 2016
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 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 25% straight line
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.
Provisions
Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis.
2 Tangible fixed assets £
Cost
At 1 April 2015 12,612
At 31 March 2016 12,612
Depreciation
At 1 April 2015 6,528
Charge for the year 1,521
At 31 March 2016 8,049
Net book value
At 31 March 2016 4,563
At 31 March 2015 6,084
3 Share capital Nominal 2016 2016 2015
value Number £ £
Allotted, called up and fully paid:
Ordinary shares £1 each 1 1 1
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