Abbreviated Company Accounts - THOMAS PANTON (WINE MERCHANTS) LIMITED

THOMAS PANTON (WINE MERCHANTS) LIMITED Registered Number 01286298

Abbreviated Balance Sheet as at 31 January 2014

	Notes	2014	2013
		£	£
Fixed assets
Tangible assets	2	12,263	16,399
		12,263	16,399
Current assets
Stocks		491,620	495,426
Debtors		79,903	104,234
Cash at bank and in hand		50	50
		571,573	599,710
Creditors: amounts falling due within one year		(363,540)	(321,200)
Net current assets (liabilities)		208,033	278,510
Total assets less current liabilities		220,296	294,909
Creditors: amounts falling due after more than one year		(244,135)	(300,000)
Total net assets (liabilities)		(23,839)	(5,091)
Capital and reserves
Called up share capital	3	33,400	33,400
Profit and loss account		(57,239)	(38,491)
Shareholders' funds		(23,839)	(5,091)

For the year ending 31 January 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 31 October 2014

And signed on their behalf by:
Thomas Panton, Director

THOMAS PANTON (WINE MERCHANTS) LIMITED Registered Number 01286298

Notes to the Abbreviated Accounts for the period ended 31 January 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.

Turnover policy
Turnover represents the value of goods and services supplied excluding VAT

Tangible assets depreciation policy
Tangible fixed assets are included at cost less accumulated depreciation.

Depreciation is charged to write off the cost of each asset over it's expected useful life at the following rates

Motor vehicles - 25% on reducing balance
Fixtures and fittings - 20% on cost

Other accounting policies
Assets on hire purchase and finance lease
Assets held under hire purchase or finance lease contracts are included in tangible fixed assets and depreciated over the shorted or the contract term and their expected useful lives.

Stock
Stock is included at the lower of cost and it's net realisable value

Foreign currency
Monetary assets and liabilities denominated in foreign currency are converted to Sterling at the rate of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate of exchange ruling at the transaction date. All exchange differences are included in the profit and loss account.

2Tangible fixed assets

	£
Cost
At 1 February 2013	69,532
Additions	1,885
Disposals	-
Revaluations	-
Transfers	-
At 31 January 2014	71,417
Depreciation
At 1 February 2013	53,133
Charge for the year	6,021
On disposals	-
At 31 January 2014	59,154
Net book values
At 31 January 2014	12,263
At 31 January 2013	16,399

3Called Up Share Capital
Allotted, called up and fully paid:

	2014 £	2013 £
33,400 Ordinary shares of £1 each	33,400	33,400