Micro-entity Accounts - PETER BARRATT'S GARDEN CENTRE (BEVERLEY) LIMITED

Micro-entity Accounts - PETER BARRATT'S GARDEN CENTRE (BEVERLEY) LIMITED

PETER BARRATT'S GARDEN CENTRE (BEVERLEY) LIMITED - Company Information

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Registered Number 06032245

PETER BARRATT'S GARDEN CENTRE (BEVERLEY) LIMITED

Micro-entity Accounts

25 December 2016

PETER BARRATT'S GARDEN CENTRE (BEVERLEY) LIMITED Registered Number 06032245

Micro-entity Balance Sheet as at 25 December 2016

Notes 2016 2015
£ £
Current assets
Debtors 2 2
2 2
Net current assets (liabilities) 2 2
Total assets less current liabilities 2 2
Total net assets (liabilities) 2 2
Capital and reserves
Called up share capital 1 1 1
Profit and loss account 1 1
Shareholders' funds 2 2
  • For the year ending 25 December 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 directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
  • The accounts have been prepared in accordance with the micro-entity provisions and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 27 September 2017

And signed on their behalf by:
Anthony Jones, Director

PETER BARRATT'S GARDEN CENTRE (BEVERLEY) LIMITED Registered Number 06032245

Notes to the Micro-entity Accounts for the period ended 25 December 2016

1Called Up Share Capital
Allotted, called up and fully paid:
2016
£		 2015
£
1 Ordinary share of £1 each 1 1

The Company has a cap of £2,150,000 on the amount of Ordinary shares that it can issue.

2Accounting Policies

Basis of measurement and preparation of accounts
The financial statements have been prepared in accordance with International Financial Reporting Standards (IFRSs). The financial statements have also been prepared in accordance with the IFRSs adopted by the European Union and therefore comply with Article 4 of the EU IAS Regulation.

The financial statements have been prepared on the historical cost basis.
The Company has opted to apply Section 390(3) of the Companies Act 2006. This permits the Company to end its financial year on 25 December 2016 (2015: 27 December 2015) as it is not more than 7 days after or before the end of the year dated 31 December 2016 (2015: 31 December 2015).

Other accounting policies
Share capital
Equity share capital represents the Ordinary shares issued by the Company and are recorded at the proceeds received less direct issue costs.

Financial assets
Financial assets are assessed for indicators of impairment at each Balance sheet date. Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows of the investment have been impacted.

Objective evidence of impairment could include:
- significant financial difficulty of the issuer or counterparty
- default in interest or principal payments
- it becoming probable that the borrower will enter bankruptcy

The carrying amount of the financial asset is reduced by the impairment loss directly for all financial assets with the exception of trade receivables, where the carrying amount is reduced through the use of an allowance account. When a trade receivable is considered uncollectible, it is written off against the allowance account.

Other receivables
Other receivables are measured at initial recognition at their fair value, and are subsequently measured at amortised cost using the effective interest rate method. Appropriate allowances for estimated irrecoverable amounts are recognised in the income statement when there is objective evidence that the asset is impaired.