Premium English Artificial Grass Ltd - Period Ending 2015-09-30

Registration number: 08686054

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Unaudited Abbreviated Accounts

for the Year Ended 30 September 2015
 

Clere's Limited
Chartered Certified Accountants
GN House
119 Holloway Head
Birmingham
West Midlands
B1 1QP

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Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

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(Registration number: 08686054)
Abbreviated Balance Sheet at 30 September 2015

		Note			30 September 2015 £			30 September 2014 £
Fixed assets
Tangible fixed assets					12,405			14,594
Current assets
Debtors					8,341			4,036
Cash at bank and in hand					2,492			2,592
					10,833			6,628
Creditors: Amounts falling due within one year					(21,253)			(20,830)
Net current liabilities					(10,420)			(14,202)
Total assets less current liabilities					1,985			392
Creditors: Amounts falling due after more than one year					(8,800)			(12,000)
Net liabilities					(6,815)			(11,608)
Capital and reserves
Called up share capital		3			1			1
Profit and loss account					(6,816)			(11,609)
Shareholders' deficit					(6,815)			(11,608)

For the year ending 30 September 2015 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 director acknowledges his 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 director on 2 September 2016

.........................................
Mr D Loveland
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

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Notes to the Abbreviated Accounts for the Year Ended 30 September 2015
......... 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 April 2008).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

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
Motor vehicles	25% reducing balance
Fixtures and fittings	15% reducing balance

Hire purchase and leasing

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation 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. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 2

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Notes to the Abbreviated Accounts for the Year Ended 30 September 2015
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 October 2014		19,404			19,404
At 30 September 2015		19,404			19,404
Depreciation
At 1 October 2014		4,810			4,810
Charge for the year		2,189			2,189
At 30 September 2015		6,999			6,999
Net book value
At 30 September 2015		12,405			12,405
At 30 September 2014		14,594			14,594

3	Share capital

Allotted, called up and fully paid shares

	30 September 2015						30 September 2014
		No.			£			No.			£
Ordinary of £1 each		1			1			1			1

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