Reid Painting & Decorating Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: NI045359 (Northern Ireland)

Abbreviated Unaudited Accounts for the Year Ended 31 March 2014

for

Reid Painting & Decorating Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

J Reid

SECRETARY:

Mrs M P Reid

REGISTERED OFFICE:

18 Market Road

Ballymena

BT43 6EL

REGISTERED NUMBER:

NI045359 (Northern Ireland)

ACCOUNTANTS:

J A McNicholl & Company Limited

18 Market Road

Ballymena

BT43 6EL

BANKERS:

First Trust Bank

78 Wellington Street

Ballymena

BT43 6AF

FIXED ASSETS

Intangible assets

2

10,000

10,000

Tangible assets

3

24,239

27,170

34,239

37,170

CURRENT ASSETS

Stocks

15,800

17,020

Debtors

-

4,221

Cash at bank and in hand

3,111

(221

)

18,911

21,020

CREDITORS

Amounts falling due within one year

50,872

51,530

NET CURRENT LIABILITIES

(31,961

)

(30,510

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,278

6,660

CREDITORS

Amounts falling due after more than one year

1,118

3,801

NET ASSETS

1,160

2,859

CAPITAL AND RESERVES

Called up share capital

4

300

300

Profit and loss account

860

2,559

SHAREHOLDERS' FUNDS

1,160

2,859

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2014 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 30 May 2014 and were signed by:

J Reid - 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 April 2008).

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

-

20% on reducing balance

Motor vehicles

-

20% on reducing balance

Computer equipment

-

20% 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.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2013

and 31 March 2014

10,000

NET BOOK VALUE

At 31 March 2014

10,000

At 31 March 2013

10,000

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2013

and 31 March 2014

45,979

DEPRECIATION

At 1 April 2013

18,809

Charge for year

2,931

At 31 March 2014

21,740

NET BOOK VALUE

At 31 March 2014

24,239

At 31 March 2013

27,170

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.14

31.3.13

value:

£

£

300

Ordinary

£1

300

300