Pearce Mayfield Associates Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 04144238 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 March 2016

for

Pearce Mayfield Associates Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

P Mayfield

R Price

Dr B Gudgin

R Rose

SECRETARY:

Mrs F Mayfield

REGISTERED OFFICE:

C/O Smiths Accountants

Unit 114 Boston House

Grove Technology Park

Wantage

Oxfordshire

OX12 9FF

REGISTERED NUMBER:

04144238 (England and Wales)

ACCOUNTANTS:

Smiths Chartered Accountants

Unit 114 Boston House

Grove Technology Park

Wantage

Oxfordshire

OX12 9FF

FIXED ASSETS

Intangible assets

2

-

Tangible assets

3

664

2,888

664

2,888

CURRENT ASSETS

Stocks

2,717

1,127

Debtors

111,618

163,500

Cash at bank and in hand

45,237

54,543

159,572

219,170

CREDITORS

Amounts falling due within one year

227,175

177,095

NET CURRENT (LIABILITIES)/ASSETS

(67,603

)

42,075

TOTAL ASSETS LESS CURRENT
LIABILITIES

(66,939

)

44,963

CAPITAL AND RESERVES

Called up share capital

4

905

Share premium

109,014

Profit and loss account

(176,858

)

(64,956

)

SHAREHOLDERS' FUNDS

(66,939

)

44,963

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

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 25 November 2016 and were signed on
its behalf by:

R Rose - Director

P Mayfield - Director

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

50% on cost and 25% on reducing balance

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

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.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

and 31 March 2016

50,000

AMORTISATION

At 1 April 2015

and 31 March 2016

50,000

NET BOOK VALUE

At 31 March 2016

-

At 31 March 2015

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

65,781

Additions

220

At 31 March 2016

66,001

DEPRECIATION

At 1 April 2015

62,893

Charge for year

2,444

At 31 March 2016

65,337

NET BOOK VALUE

At 31 March 2016

664

At 31 March 2015

2,888

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.16

31.3.15

value:

£

905

Ordinary

1

905