Professional Polishing Services Limited - Abbreviated accounts 16.1

Professional Polishing Services Limited - Abbreviated accounts 16.1


011621751.7.1530.6.1630.6.16Company accountsPrivate Limited CompanyFYtruefalsetruefalsetruefalsetruefalseOrdinary1.00000iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure011621752015-06-30011621752016-06-30011621752015-07-012016-06-30011621752014-06-30011621752014-07-012015-06-30011621752015-06-3001162175ns14:PoundSterling2015-07-012016-06-3001162175ns7:Director12015-07-012016-06-3001162175ns7:Director22015-07-012016-06-3001162175ns7:OrdinaryShareClass12015-07-012016-06-3001162175ns7:Director32015-07-012016-06-3001162175ns7:CompanySecretary2015-07-012016-06-3001162175ns7:RegisteredOffice2015-07-012016-06-3001162175ns7:EntityAccountantsOrAuditors2015-07-012016-06-3001162175ns5:NetGoodwill2015-07-012016-06-3001162175ns5:PlantMachinery2015-07-012016-06-3001162175ns5:FixturesFittings2015-07-012016-06-3001162175ns7:OrdinaryShareClass12016-06-3001162175ns7:OrdinaryShareClass12015-06-3001162175ns7:Director22015-06-3001162175ns7:Director22014-06-3001162175ns7:Director22014-07-012015-06-3001162175ns7:Director22016-06-3001162175ns7:Director22015-06-30
REGISTERED NUMBER: 01162175







ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 30 JUNE 2016

FOR

PROFESSIONAL POLISHING SERVICES
LIMITED

PROFESSIONAL POLISHING SERVICES
LIMITED (REGISTERED NUMBER: 01162175)

CONTENTS OF THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 JUNE 2016










Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 4

PROFESSIONAL POLISHING SERVICES
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2016







DIRECTORS: P Davies
K L Davies
P T Davies





SECRETARY: P T Davies





REGISTERED OFFICE: 18B Parkrose Industrial Estate
Middlemore Road
Smethwick
B66 2DZ





REGISTERED NUMBER: 01162175





ACCOUNTANTS: Prime
Chartered Accountants
Corner Oak
1 Homer Road
Solihull
B91 3QG

PROFESSIONAL POLISHING SERVICES
LIMITED (REGISTERED NUMBER: 01162175)

ABBREVIATED BALANCE SHEET
30 JUNE 2016

2016 2015
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 2 - -
Tangible assets 3 935,224 782,966
935,224 782,966

CURRENT ASSETS
Stocks 40,866 38,912
Debtors 350,003 313,798
Cash at bank 10,042 2,814
400,911 355,524
CREDITORS
Amounts falling due within one year 4 430,303 343,737
NET CURRENT (LIABILITIES)/ASSETS (29,392 ) 11,787
TOTAL ASSETS LESS CURRENT
LIABILITIES

905,832

794,753

CREDITORS
Amounts falling due after more than one
year

4

(298,826

)

(289,516

)

PROVISIONS FOR LIABILITIES (49,079 ) (14,756 )
NET ASSETS 557,927 490,481

CAPITAL AND RESERVES
Called up share capital 5 4,500 4,500
Profit and loss account 553,427 485,981
SHAREHOLDERS' FUNDS 557,927 490,481

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2016 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.

PROFESSIONAL POLISHING SERVICES
LIMITED (REGISTERED NUMBER: 01162175)

ABBREVIATED BALANCE SHEET - continued
30 JUNE 2016


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 30 September 2016and were signed on
its behalf by:




P Davies- Director



K L Davies- Director


PROFESSIONAL POLISHING SERVICES
LIMITED (REGISTERED NUMBER: 01162175)

NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 JUNE 2016


1. ACCOUNTING POLICIES

Accounting convention
The financial statements 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 net invoiced sales of goods, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business has been fully
amortised.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery - 10% on cost
Fixtures and fittings - 20% on cost

The long leasehold property is not depreciated as in the opinion of the directors its value is at least
equal to its cost and expenditure incurred on its upkeep will be adequate to maintain this position. This
policy is contrary to the Companies Act 2006, but it is considered necessary by the directors in order to
show a true and fair view.

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

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet.
Those held under hire purchase contracts are depreciated over their estimated useful lives. Those
held under finance leases are depreciated over their estimated useful lives or the lease term,
whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant
period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis
over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the
company's pension scheme are charged to the profit and loss account in the period to which they
relate.

PROFESSIONAL POLISHING SERVICES
LIMITED (REGISTERED NUMBER: 01162175)

NOTES TO THE ABBREVIATED ACCOUNTS - continued
FOR THE YEAR ENDED 30 JUNE 2016


2. INTANGIBLE FIXED ASSETS
Total
£   
COST
At 1 July 2015
and 30 June 2016 44,702
AMORTISATION
At 1 July 2015
and 30 June 2016 44,702
NET BOOK VALUE

At 30 June 2016 -
At 30 June 2015 -

3. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 July 2015 1,951,761
Additions 215,184
At 30 June 2016 2,166,945
DEPRECIATION
At 1 July 2015 1,168,795
Charge for year 62,926
At 30 June 2016 1,231,721
NET BOOK VALUE
At 30 June 2016 935,224
At 30 June 2015 782,966

4. CREDITORS

Creditors include an amount of £ 469,317 (2015 - £ 374,611 ) for which security has been given.

They also include the following debts falling due in more than five years:

2016 2015
£    £   
Repayable by instalments - 15,962

PROFESSIONAL POLISHING SERVICES
LIMITED (REGISTERED NUMBER: 01162175)

NOTES TO THE ABBREVIATED ACCOUNTS - continued
FOR THE YEAR ENDED 30 JUNE 2016


5. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2016 2015
value: £    £   
4,500 Ordinary £1 4,500 4,500

6. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2016 and
30 June 2015:

2016 2015
£    £   
K L Davies
Balance outstanding at start of year 1,638 -
Amounts advanced 2,109 4,338
Amounts repaid (2,700 ) (2,700 )
Balance outstanding at end of year 1,047 1,638