Registered Number 01286298

THOMAS PANTON (WINE MERCHANTS) LIMITED

Abbreviated Accounts

31 January 2015

THOMAS PANTON (WINE MERCHANTS) LIMITED Registered Number 01286298

Abbreviated Balance Sheet as at 31 January 2015

Notes 2015 2014
£ £
Fixed assets
Tangible assets 2 8,749 12,263
8,749 12,263
Current assets
Stocks 486,253 491,620
Debtors 58,242 79,903
Cash at bank and in hand 50 50
544,545 571,573
Creditors: amounts falling due within one year 3 (328,262) (363,540)
Net current assets (liabilities) 216,283 208,033
Total assets less current liabilities 225,032 220,296
Creditors: amounts falling due after more than one year 3 (244,135) (244,135)
Total net assets (liabilities) (19,103) (23,839)
Capital and reserves
Called up share capital 4 33,400 33,400
Profit and loss account (52,503) (57,239)
Shareholders' funds (19,103) (23,839)
  • For the year ending 31 January 2015 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 29 October 2015

And signed on their behalf by:
A T Panton, Director

THOMAS PANTON (WINE MERCHANTS) LIMITED Registered Number 01286298

Notes to the Abbreviated Accounts for the period ended 31 January 2015

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 amounts receivable by the company for goods supplied excluding VAT

Tangible assets depreciation policy
Tangible fixed assets are included at cost less accumulated depreciation. Depreciation is calculated to write off the cost of each asset less its expected realisable value over its useful lfe at the following rates

Leasehold property - Over life of lease
Motor vehicles - 25% reducing balance
Fixtures and fittings - 20% on cost

Other accounting policies
Stocks

Stock of goods for resale are held at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items

2Tangible fixed assets
£
Cost
At 1 February 2014 71,417
Additions -
Disposals -
Revaluations -
Transfers -
At 31 January 2015 71,417
Depreciation
At 1 February 2014 59,154
Charge for the year 3,514
On disposals -
At 31 January 2015 62,668
Net book values
At 31 January 2015 8,749
At 31 January 2014 12,263
3Creditors
2015
£
2014
£
Secured Debts 104,694 110,410
4Called Up Share Capital
Allotted, called up and fully paid:
2015
£
2014
£
33,400 Ordinary shares of £1 each 33,400 33,400

5Transactions with directors

Name of director receiving advance or credit: A T Panton
Description of the transaction: Loan
Balance at 1 February 2014: £ 384,838
Advances or credits made: -
Advances or credits repaid: £ 8,571
Balance at 31 January 2015: £ 376,267

Included in creditors due within one year is £132,132 due to A T Panton the director and major shareholder. An additional £244,135 is included in creditors falling due after one year. The director has confirmed that the loans will not be repaid unless the company has adequate funds to meet its liabilities as they fall due