Peter Beales Garden Centre Ltd
Peter Beales Garden Centre Ltd
Registered number: 09654712
Abbreviated accounts
For the Period 24 June 2015 to 31 March 2016
William Dann & Co
30 Norwich Street
Dereham
Norfolk
NR19 1BX
Peter Beales Garden Centre Ltd
Company No. 09654712
Abbreviated Balance Sheet
31 March 2016
Abbreviated Balance Sheet
| Period to 31 March 2016 | |||
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| Notes | £ | £ | |
| FIXED ASSETS | |||
| Tangible Assets | 2 |
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| 54,989 | |||
| CURRENT ASSETS | |||
| Stocks |
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| Debtors |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 3 |
( |
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| NET CURRENT ASSETS (LIABILITIES) |
( |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
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| PROVISIONS FOR LIABILITIES | |||
| Deferred Taxation |
( |
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| NET ASSETS |
( |
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| CAPITAL AND RESERVES | |||
| Called up share capital | 4 |
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| Profit and Loss Account |
( |
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| SHAREHOLDERS' FUNDS |
( |
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Peter Beales Garden Centre Ltd
Company No. 09654712
Abbreviated Balance Sheet (continued)
31 March 2016
Director's responsibilities
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The member has 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 abbreviated accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2015).
On behalf of the board
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Page 1
Peter Beales Garden Centre Ltd
Notes to the Abbreviated Accounts
For the Period 24 June 2015 to 31 March 2016
Notes to the Abbreviated Accounts
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
1.3.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Fixtures & Fittings |
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1.4.
Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
1.5.
Deferred Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
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Peter Beales Garden Centre Ltd
Notes to the Abbreviated Accounts (continued)
For the Period 24 June 2015 to 31 March 2016
2.
Tangible Assets
| Total | |
|---|---|
| Cost | £ |
| As at |
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| Additions |
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| As at |
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| Depreciation | |
| As at |
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| Provided during the period |
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| As at |
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| Net Book Value | |
| As at |
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| As at |
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3.
Creditors: Amounts Falling Due Within One Year
| Period to 31 March 2016 | |
|---|---|
| £ | |
| Trade creditors |
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| Other taxes and social security |
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| Other creditors (Peter Beales Roses Ltd) |
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| Other creditors (HSBC Commercial Card) | 670 |
| Accruals and deferred income |
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Page 3
Peter Beales Garden Centre Ltd
Notes to the Abbreviated Accounts (continued)
For the Period 24 June 2015 to 31 March 2016
5.
Ultimate Controlling Party
The company's ultimate controlling party is Peter Beales Roses Ltd by virtue of his ownership of 100% of the issued share capital in the company.
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