Edward Preston & Sons Limited - Limited company - abbreviated - 11.0.0

Edward Preston & Sons Limited - Limited company - abbreviated - 11.0.0


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REGISTERED NUMBER: 00055714(England and Wales)















ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 JULY 2014

FOR

EDWARD PRESTON & SONS LIMITED

EDWARD PRESTON & SONS LIMITED (REGISTERED NUMBER: 00055714)

CONTENTS OF THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2014










Page

Company Information 1

Abbreviated Balance Sheet 2 to 3

Notes to the Abbreviated Accounts 4 to 5

EDWARD PRESTON & SONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2014







DIRECTORS: A F Asher
C Asher
W F Asher





SECRETARY: C Asher





REGISTERED OFFICE: Exchange House
St. Cross Lane
Newport
Isle of Wight
PO30 5BZ





REGISTERED NUMBER: 00055714(England and Wales)





ACCOUNTANTS: Bright Brown Limited
Chartered Accountants
Exchange House
St. Cross Lane
Newport
Isle of Wight
PO30 5BZ

EDWARD PRESTON & SONS LIMITED (REGISTERED NUMBER: 00055714)

ABBREVIATED BALANCE SHEET
31 JULY 2014

2014 2013
Notes £    £    £    £   
FIXED ASSETS
Investment property 2 50,000 50,000

CURRENT ASSETS
Debtors 1,867 -
Cash at bank 10,258 14,086
12,125 14,086
CREDITORS
Amounts falling due within one year 924 4,993
NET CURRENT ASSETS 11,201 9,093
TOTAL ASSETS LESS CURRENT
LIABILITIES

61,201

59,093

CAPITAL AND RESERVES
Called up share capital 3 25,700 25,700
Revaluation reserve (11,050 ) (11,050 )
Profit and loss account 46,551 44,443
SHAREHOLDERS' FUNDS 61,201 59,093

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2014 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.

EDWARD PRESTON & SONS LIMITED (REGISTERED NUMBER: 00055714)

ABBREVIATED BALANCE SHEET - continued
31 JULY 2014


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 Board of Directors on 5 October 2014and were signed on its
behalf by:





C Asher- Director


EDWARD PRESTON & SONS LIMITED (REGISTERED NUMBER: 00055714)

NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2014


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).

Investment property
No depreciation is provided for in respect of investment properties in accordance with the Financial
Reporting Standard for Smaller Entities (effective April 2008). Such properties are held for their
investment potential and not for consumption within the business. This is a departure from the
Companies Act 2006 which requires all properties to be depreciated and the directors consider that to
depreciate them would not enable the financial statements to give a true and fair view. Investment
properties are stated at their market value at the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at
the balance sheet date.

2. INVESTMENT PROPERTY
Total
£   
COST OR VALUATION
At 1 August 2013
and 31 July 2014 50,000
NET BOOK VALUE
At 31 July 2014 50,000
At 31 July 2013 50,000

3. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2014 2013
value: £    £   
6,500 Ordinary £1 6,500 6,500
19,200 Preference 5% £1 19,200 19,200
25,700 25,700

EDWARD PRESTON & SONS LIMITED (REGISTERED NUMBER: 00055714)

NOTES TO THE ABBREVIATED ACCOUNTS - continued
FOR THE YEAR ENDED 31 JULY 2014


4. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 July 2014 and
31 July 2013:

2014 2013
£    £   
C Asher
Balance outstanding at start of year (2,060 ) (2,060 )
Amounts advanced 3,000 -
Amounts repaid (7 ) -
Balance outstanding at end of year 933 (2,060 )

W F Asher
Balance outstanding at start of year (2,060 ) (2,060 )
Amounts advanced 3,000 -
Amounts repaid (6 ) -
Balance outstanding at end of year 934 (2,060 )