Pier Garage Limited - Period Ending 2016-04-30

Registration number: 03179320

Pier Garage Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 April 2016
 

Westlake Clark
Chartered Accountants
118 Old Milton Road
New Milton
Hampshire
BH25 6EB

Pier Garage Limited
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 4

Pier Garage Limited
(Registration number: 03179320)
Abbreviated Balance Sheet at 30 April 2016

		Note			2016						2015
	£			£			£			£
Fixed assets
Tangible fixed assets		2						73,099						77,724
Current assets
Stocks					10,874						11,250
Debtors					2,405						680
Cash at bank and in hand					170,455						173,273
					183,734						185,203
Creditors: Amounts falling due within one year					(50,201)						(41,935)
Net current assets								133,533						143,268
Total assets less current liabilities								206,632						220,992
Provisions for liabilities								(957)						(1,153)
Net assets								205,675						219,839
Capital and reserves
Called up share capital		3			100						100
Profit and loss account					205,575						219,739
Shareholders' funds								205,675						219,839

The directors' statements required by Section 475(2), (3) are shown on the following page which forms part of this Balance Sheet.

The notes form an integral part of these financial statements.
Page 1

Pier Garage Limited
(Registration number: 03179320)
Abbreviated Balance Sheet at 30 April 2016
......... continued

For the year ended 30 April 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 8 August 2016 and signed on its behalf by:

.........................................
PJ Adams
Director

The notes form an integral part of these financial statements.
Page 2

Pier Garage Limited
Notes to the Abbreviated Accounts for the Year Ended 30 April 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Going concern

The directors believe that the company is well placed to manage its business risks successfully, despite the current uncertain economic outlook, and have reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus, they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers. Revenue is recognised on the date of invoicing.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Freehold buildings	4% straight line basis
Computer equipment	25% straight line basis
Plant and machinery	25% reducing balance basis
Motor vehicles	25% reducing balance basis

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Page 3

Pier Garage Limited
Notes to the Abbreviated Accounts for the Year Ended 30 April 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 May 2015		158,299			158,299
Additions		620			620
At 30 April 2016		158,919			158,919
Depreciation
At 1 May 2015		80,575			80,575
Charge for the year		5,245			5,245
At 30 April 2016		85,820			85,820
Net book value
At 30 April 2016		73,099			73,099
At 30 April 2015		77,724			77,724

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

Page 4