Pacificworks Limited - Period Ending 2016-04-30

Registration number: 05329684

Pacificworks Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 April 2016
 

RMCA
Chartered Accountants
The Counting House
9 High Street
Tring
Herts
HP23 5TE

Pacificworks Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Pacificworks Limited
(Registration number: 05329684)
Abbreviated Balance Sheet at 30 April 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					33,802			10,994
Current assets
Debtors					5,177			12,454
Cash at bank and in hand					9,379			22
					14,556			12,476
Creditors: Amounts falling due within one year					(28,301)			(23,022)
Net current liabilities					(13,745)			(10,546)
Total assets less current liabilities					20,057			448
Creditors: Amounts falling due after more than one year					(4,282)			-
Net assets					15,775			448
Capital and reserves
Called up share capital		3			2			2
Profit and loss account					15,773			446
Shareholders' funds					15,775			448

For the year ending 30 April 2016 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 20 January 2017

MR Egan Director

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

Pacificworks Limited
Notes to the Abbreviated Accounts for the Year Ended 30 April 2016
......... 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 January 2015).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers. In respect of long-term contracts and contracts for on-going services,turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long term contracts and contracts for on-going services is recognised by reference to the stage of completion.

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
Plant and machinery	25% straight line
Motor vehicles	25% reducing balance

Hire purchase

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.

Page 2

Pacificworks Limited
Notes to the Abbreviated Accounts for the Year Ended 30 April 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 May 2015		29,079			29,079
Additions		44,145			44,145
Disposals		(17,441)			(17,441)
At 30 April 2016		55,783			55,783
Depreciation
At 1 May 2015		18,085			18,085
Charge for the year		11,526			11,526
Eliminated on disposals		(7,630)			(7,630)
At 30 April 2016		21,981			21,981
Net book value
At 30 April 2016		33,802			33,802
At 30 April 2015		10,994			10,994

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary of £1 each		2			2			2			2

Page 3