Pearl Technical Services Limited,Ltd - Accounts

Pearl Technical Services Limited,Ltd - Accounts

PEARL TECHNICAL SERVICES LIMITED - Company Information

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2015-06-01 true false Private Limited Company 03563820 2016-05-31 03563820 2015-06-01 2016-05-31 03563820 2015-05-31 03563820 2014-06-01 2015-05-31 03563820 uk-bus:Director1 2015-06-01 2016-05-31 03563820 uk-gaap:ComputerEquipment 2015-06-01 2016-05-31 03563820 uk-gaap:CommercialMotorVehicles 2015-06-01 2016-05-31 03563820 uk-gaap:FixturesFittings 2015-06-01 2016-05-31 03563820 uk-bus:OrdinaryShareClass1 2016-05-31 03563820 uk-bus:OrdinaryShareClass2 2016-05-31 03563820 uk-bus:OrdinaryShareClass3 2016-05-31 03563820 uk-bus:OrdinaryShareClass4 2016-05-31 03563820 uk-bus:OrdinaryShareClass5 2016-05-31 03563820 uk-bus:OrdinaryShareClass4 2015-06-01 2016-05-31 03563820 uk-bus:OrdinaryShareClass5 2015-06-01 2016-05-31 iso4217:GBP xbrli:shares
Pearl Technical Services Limited
For the year ended 31 May 2016
Unaudited Abbreviated Report and Financial Statements
England and Wales
Registered Number: 03563820
2
Contents Page
Pearl Technical Services Limited
For the year ended 31 May 2016
1
Balance Sheet
2 to 3
Notes to the Abbreviated Financial Statements
3
Abbreviated Balance Sheet
Pearl Technical Services Limited
As at 31 May 2016
03563820
Registered Number :
£
£
2016
Notes
2015
Fixed assets
Tangible assets
2
8,452
16,984
8,452
16,984
Current assets
Debtors
123,967
85,381
Cash at bank and in hand
127,051
183,870
212,432
307,837
Creditors: amounts falling due within one year
(176,977)
(174,459)
130,860
37,973
Net current assets
Total assets less current liabilities
46,425
147,844
46,425
Net assets
147,844
Capital and reserves
Called up share capital
104
3
102
Profit and loss account
46,321
147,742
46,425
147,844
Shareholders funds
For the year ended 31 May 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director responsibilities: 1) The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476;
2) 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.
Date approved by the board: 05 December 2016
A Sadik Director
Signed on behalf of the board of directors
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4
Notes to the Abbreviated Financial Statements
Pearl Technical Services Limited
For the year ended 31 May 2016
1 Accounting Policies
Basis of accounting
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the profit and loss account on a straight line basis.
Deferred taxation
Deferred taxation arises when items are charged or credited in accounts in different periods to those in which they are included in the company's tax computations.Deferred tax is provided in full on timing differences that result in an obligation to pay more (or less) tax at a future date. Deferred tax is calculated at the average rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. The resulting deferred tax asset or liability is not discounted.
Dividends
Proposed dividends are only included as liabilities in the financial statements when their payment has been approved
by the shareholders prior to the balance sheet date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Computer Equipment
33% Straight line
Motor Vehicles
20% Straight line
Fixtures and Fittings
20% Straight line
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and
rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets
and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
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5
Notes to the Abbreviated Financial Statements
Pearl Technical Services Limited
For the year ended 31 May 2016
2 Tangible fixed assets
Tangible fixed
assets
Cost or valuation
£
59,761
At 01 June 2015
(12,116)
Disposals
At 31 May 2016
47,645
Depreciation
42,777
At 01 June 2015
(7,269)
Disposals
3,685
Charge for year
39,193
At 31 May 2016
Net book values
At 31 May 2016
8,452
16,984
At 31 May 2015
3 Share capital
Allotted called up and fully paid
2016
2015
£
£
100 Ordinary shares of £1.00 each
100
100
1 Ordinary B share of £1.00 each
1
1
1 Ordinary C share of £1.00 each
1
1
1 Ordinary D share of £1.00 each
-
1
1 Ordinary E share of £1.00 each
-
1
104
102
1Ordinary D £1.00 and 1Ordinary E £1.00 shares have been issued during the year each at par for a cash consideration of £1 and £1 respectively.
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