P&B Walsh Decorators Ltd - Accounts to registrar - small 17.2

REGISTERED NUMBER: 04944207

Unaudited Financial Statements For The Year Ended 31st March 2017

for

P&B Walsh Decorators Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

P Walsh

B Walsh

Mrs T Walsh

REGISTERED OFFICE:

2 Trust Court

Histon

Cambridgeshire

CB24 9PW

REGISTERED NUMBER:

04944207

ACCOUNTANTS:

Aston Shaw Accountants

2 Trust Court

Chivers Way

Histon

Cambridgeshire

CB24 9PW

FIXED ASSETS

Tangible assets

4

122,788

CURRENT ASSETS

Stocks

6,505

Debtors

5

470,095

Cash at bank and in hand

19,101

495,701

CREDITORS

Amounts falling due within one year

6

282,829

NET CURRENT ASSETS

212,872

TOTAL ASSETS LESS CURRENT LIABILITIES

335,660

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

335,560

335,660

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2017 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 20th October 2017 and were signed on its behalf by:

P Walsh - Director

1.	STATUTORY INFORMATION

P&B Walsh Decorators Ltd is a private company, limited by shares , registered in Not

specified/Other. The company's registered number and registered office address can be found on

the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income

Statement, except to the extent that it relates to items recognised in other comprehensive

income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have

been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not

reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods

different from those in which they are recognised in financial statements. Deferred tax is

measured using tax rates and laws that have been enacted or substantively enacted by the year

end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is

probable that they will be recovered against the reversal of deferred tax liabilities or other future

taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss 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 profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st April 2016

250,345

Additions

55,304

Disposals

(16,120

)

At 31st March 2017

289,529

DEPRECIATION

At 1st April 2016

136,427

Charge for year

38,434

Eliminated on disposal

(8,120

)

At 31st March 2017

166,741

NET BOOK VALUE

At 31st March 2017

122,788

At 31st March 2016

113,918

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade debtors

467,689

Other debtors

2,406

470,095

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Bank loans and overdrafts

55,250

Hire purchase contracts

111,253

Trade creditors

127,694

Taxation and social security

(42,119

)

Other creditors

30,751

282,829