Petcol Construction Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 05820822

Abbreviated Unaudited Accounts

for the Year Ended 30 June 2014

for

PETCOL CONSTRUCTION LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

J P Coleman

REGISTERED OFFICE:

Waterside House

Waterside Business Park

1649 Pershore Road

Birmingham

West Midlands

B30 3DR

REGISTERED NUMBER:

05820822

ACCOUNTANTS:

Stanley Yule Chartered Accountants

Waterside House

Waterside Business Park

1649 Pershore Road

Birmingham

West Midlands

B30 3DR

FIXED ASSETS

Intangible assets

2

-

-

Tangible assets

3

4,929

6,613

4,929

6,613

CURRENT ASSETS

Stocks

1,130

1,700

Debtors

19,073

11,339

20,203

13,039

CREDITORS

Amounts falling due within one year

19,506

12,229

NET CURRENT ASSETS

697

810

TOTAL ASSETS LESS CURRENT LIABILITIES

5,626

7,423

CREDITORS

Amounts falling due after more than one year

(1,650

)

(4,125

)

PROVISIONS FOR LIABILITIES

(975

)

(1,327

)

NET ASSETS

3,001

1,971

CAPITAL AND RESERVES

Called up share capital

4

1

1

Profit and loss account

3,000

1,970

SHAREHOLDERS' FUNDS

3,001

1,971

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 10 December 2014 and were signed by:

J P Coleman - 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 and services, excluding value added tax arising from the

general construction work.Income is recognised on despatch of goods or on delivery of a service.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Motor vehicles

-

25% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those

held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance

leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period.

The capital element of the future payments is treated as a liability.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2013

and 30 June 2014

32,000

AMORTISATION

At 1 July 2013

and 30 June 2014

32,000

NET BOOK VALUE

At 30 June 2014

-

At 30 June 2013

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2013

and 30 June 2014

12,367

DEPRECIATION

At 1 July 2013

5,754

Charge for year

1,684

At 30 June 2014

7,438

NET BOOK VALUE

At 30 June 2014

4,929

At 30 June 2013

6,613

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

1

Ordinary

£1

1

1

5.	ULTIMATE CONTROLLING PARTY

The company is under the control of the director, Mr J P Coleman by virtue of his 100% interest in the issued

share capital of the company.