Abbreviated Company Accounts - P & S GALLAGHER LIMITED

P & S GALLAGHER LIMITED - Company Information

Registered Number 02671037

P & S GALLAGHER LIMITED

Abbreviated Accounts

31 March 2014

P & S GALLAGHER LIMITED Registered Number 02671037

Abbreviated Balance Sheet as at 31 March 2014

	Notes	2014	2013
		£	£
Fixed assets
Intangible assets	2	98,415	109,350
Tangible assets	3	420,819	402,226
		519,234	511,576
Current assets
Stocks		487,359	464,136
Debtors		33,154	38,006
Cash at bank and in hand		40,655	12,780
		561,168	514,922
Creditors: amounts falling due within one year		(285,764)	(312,340)
Net current assets (liabilities)		275,404	202,582
Total assets less current liabilities		794,638	714,158
Creditors: amounts falling due after more than one year		(101,243)	(108,158)
Total net assets (liabilities)		693,395	606,000
Capital and reserves
Called up share capital		99	99
Revaluation reserve		195,000	195,000
Profit and loss account		498,296	410,901
Shareholders' funds		693,395	606,000

For the year ending 31 March 2014 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 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 Board on 18 August 2014

And signed on their behalf by:
P Gallagher, Director

P & S GALLAGHER LIMITED Registered Number 02671037

Notes to the Abbreviated Accounts for the period ended 31 March 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Tangible assets depreciation policy
25% on reducing balance

2Intangible fixed assets

	£
Cost
At 1 April 2013	150,000
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 March 2014	150,000
Amortisation
At 1 April 2013	40,650
Charge for the year	10,935
On disposals	-
At 31 March 2014	51,585
Net book values
At 31 March 2014	98,415
At 31 March 2013	109,350

3Tangible fixed assets

	£
Cost
At 1 April 2013	593,533
Additions	44,337
Disposals	(43,850)
Revaluations	-
Transfers	-
At 31 March 2014	594,020
Depreciation
At 1 April 2013	191,307
Charge for the year	18,351
On disposals	(36,457)
At 31 March 2014	173,201
Net book values
At 31 March 2014	420,819
At 31 March 2013	402,226