Peerless Fencing Limited 01260855 false true 2015-04-01 2016-03-31 2016-03-31 01260855 2015-04-01 2016-03-31 01260855 2016-03-31 01260855 uk-bus:OrdinaryShareClass1 2016-03-31 01260855 uk-bus:OrdinaryShareClass2 2016-03-31 01260855 uk-bus:OrdinaryShareClass3 2016-03-31 01260855 uk-bus:OrdinaryShareClass4 2016-03-31 01260855 uk-bus:Director2 2015-04-01 2016-03-31 01260855 uk-bus:OrdinaryShareClass1 2015-04-01 2016-03-31 01260855 uk-bus:OrdinaryShareClass2 2015-04-01 2016-03-31 01260855 uk-bus:OrdinaryShareClass3 2015-04-01 2016-03-31 01260855 uk-bus:OrdinaryShareClass4 2015-04-01 2016-03-31 01260855 uk-gaap:MotorVehicles 2015-04-01 2016-03-31 01260855 uk-gaap:OfficeEquipment 2015-04-01 2016-03-31 01260855 uk-gaap:PlantMachinery 2015-04-01 2016-03-31 01260855 2015-03-31 01260855 2015-03-31 01260855 uk-bus:OrdinaryShareClass1 2015-03-31 01260855 uk-bus:OrdinaryShareClass2 2015-03-31 01260855 uk-bus:OrdinaryShareClass3 2015-03-31 01260855 uk-bus:OrdinaryShareClass4 2015-03-31 iso4217:GBP xbrli:shares

Company registration number: 01260855

Peerless Fencing Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2016
 

image-name
 

Peerless Fencing Limited
Contents

Accountants' Report

1

Abbreviated Balance Sheet

2 to 3

Notes to the Abbreviated Accounts

4 to 6

 


Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of Peerless Fencing Limited for the Year Ended 31 March 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Peerless Fencing Limited for the year ended 31 March 2016 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Peerless Fencing Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Peerless Fencing Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Peerless Fencing Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Peerless Fencing Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Peerless Fencing Limited. You consider that Peerless Fencing Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Peerless Fencing Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

MJH Accountants Limited

21 October 2016

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 6) have been prepared.

 

Peerless Fencing Limited
(Registration number: 01260855)
Abbreviated Balance Sheet at 31 March 2016

   

Note

   

2016
£

   

2015
£

 

Fixed assets

 

             

Tangible fixed assets

 

   

3,281

   

3,857

 

Current assets

 

             

Stocks

 

   

36,440

   

25,761

 

Debtors

 

   

126,352

   

110,373

 

Cash at bank and in hand

 

   

110

   

620

 
   

   

162,902

   

136,754

 

Creditors: Amounts falling due within one year

 

   

(141,116)

   

(132,082)

 

Net current assets

 

   

21,786

   

4,672

 

Net assets

 

   

25,067

   

8,529

 

Capital and reserves

 

             

Called up share capital

 

4

   

2,500

   

2,500

 

Capital redemption reserve

 

   

2,500

   

2,500

 

Profit and loss account

 

   

20,067

   

3,529

 

Shareholders' funds

 

   

25,067

   

8,529

 

The notes on pages 4 to 6 form an integral part of these financial statements.
Page 2

 

Peerless Fencing Limited
(Registration number: 01260855)
Abbreviated Balance Sheet at 31 March 2016
......... continued

For the year ending 31 March 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 director acknowledges his 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 director on 21 October 2016

..............................................
Mr C J Haigh
Director

The notes on pages 4 to 6 form an integral part of these financial statements.
Page 3

 

Peerless Fencing Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

1

Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of goods sold and services provided to customers during the accounting period.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class

Depreciation method and rate

Plant and machinery

20% on reducing balance

Office equipment

25% on reducing balance and 33.3% on cost

Motor vehicles

25% on reducing balance

Stock and work in progress

Stock and work in progress are valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

 

Peerless Fencing Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2

Fixed assets

 

Tangible assets
£

   

Total
£

 

Cost

 

   

 

At 1 April 2015

 

241,176

   

241,176

 

Additions

 

626

   

626

 

Disposals

 

(12,419)

   

(12,419)

 

At 31 March 2016

 

229,383

   

229,383

 

Amortisation

 

   

 

At 1 April 2015

 

237,319

   

237,319

 

Charge for the year

 

1,202

   

1,202

 

Eliminated on disposals

 

(12,419)

   

(12,419)

 

At 31 March 2016

 

226,102

   

226,102

 

Net book value

 

   

 

At 31 March 2016

 

3,281

   

3,281

 

At 31 March 2015

 

3,857

   

3,857

 

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

 

2016
£

   

2015
£

 

 

   

 

Amounts falling due within one year

 

37,021

   

32,941

 
 

Peerless Fencing Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

4

Share capital

Allotted, called up and fully paid shares

 

2016

2015

   

No.

   

£

   

No.

   

£

 

Ordinary A shares of £1 each

 

1,250

   

1,250

   

1,250

   

1,250

 

Ordinary B shares of £1 each

 

375

   

375

   

375

   

375

 

Ordinary C shares of £1 each

 

475

   

475

   

475

   

475

 

Ordinary D shares of £1 each

 

400

   

400

   

400

   

400

 
   

2,500

   

2,500

   

2,500

   

2,500