Peto Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 07320953 (England and Wales)

Abbreviated Unaudited Accounts

for the Period 1 January 2015 to 30 June 2016

for

PETO LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

I F Mackinnon

R C Osborne

REGISTERED OFFICE:

Ardmair House

Union Road

Cowes

Isle of Wight

PO31 7TP

REGISTERED NUMBER:

07320953 (England and Wales)

ACCOUNTANTS:

Roach Enterprises Limited

48 Winterton Way

Shrewsbury

Shropshire

SY3 5PA

FIXED ASSETS

Tangible assets

2

1

14,894

CURRENT ASSETS

Debtors

2,355

847,856

Cash at bank and in hand

1,305

201

3,660

848,057

CREDITORS

Amounts falling due within one year

3

2,271,772

438,386

NET CURRENT (LIABILITIES)/ASSETS

(2,268,112

)

409,671

TOTAL ASSETS LESS CURRENT
LIABILITIES

(2,268,111

)

424,565

CREDITORS

Amounts falling due after more than one
year

3

-

1,974,049

NET LIABILITIES

(2,268,111

)

(1,549,484

)

CAPITAL AND RESERVES

Called up share capital

4

300,824

Share premium

1,072,901

Profit and loss account

(3,641,836

)

(2,923,209

)

SHAREHOLDERS' FUNDS

(2,268,111

)

(1,549,484

)

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

The members have not required the company to obtain an audit of its financial statements for the period 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.

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 March 2017 and were signed on its behalf by:

R C Osborne - 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).

The directors have assessed the financial viability of the company through detailed financial forecasts. Based on

the financial forecasts, coupled together with continued financial support from its parent company and its

ultimate shareholders for the foreseeable future, the directors are of the opinion that the going concern basis of

preparation of the financial statements is appropriate.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 8 Related

Party Disclosures, not to disclose related party transactions with wholly owned subsidiaries within the group.

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 etc

-

25% on cost

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.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

265,627

Additions

367

At 30 June 2016

265,994

DEPRECIATION

At 1 January 2015

250,733

Charge for period

15,260

At 30 June 2016

265,993

NET BOOK VALUE

At 30 June 2016

1

At 31 December 2014

14,894

3.

CREDITORS

Creditors include an amount of £ 1,965,957 for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2014

value:

£

400,000

A Ordinary

£0.00

1

400

300,000

B Ordinary

£1

300,000

424,003

C Ordinary

£0.00

1

424

300,824

5.	ULTIMATE CONTROLLING PARTY

The ultimate parent company is Brunel Marketplace Limited.