Pendle Stained Glass Limited - Period Ending 2013-09-30

Pendle Stained Glass Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 September 2013

MacMahon Leggate
Chartered Accountants
Charter House
18-20 Finsley Gate
Burnley
BB11 2HA

Pendle Stained Glass Limited
Contents

Accountants' Report

Abbreviated Balance Sheet

2 to 3

Notes to the Abbreviated Accounts

4 to 5

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 5) have been prepared.

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Pendle Stained Glass Limited
for the Year Ended 30 September 2013

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Pendle Stained Glass Limited for the year ended 30 September 2013 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 Pendle Stained Glass 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 Pendle Stained Glass 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 Pendle Stained Glass Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Pendle Stained Glass 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 Pendle Stained Glass Limited. You consider that Pendle Stained Glass 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 Pendle Stained Glass 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.

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

MacMahon Leggate
Chartered Accountants
Charter House
18-20 Finsley Gate
Burnley
Lancashire
BB11 2HA

21 November 2013

Page 1

Pendle Stained Glass Limited
(Registration number: 03849985)
Abbreviated Balance Sheet at 30 September 2013

	Note	2013 £	2012 £
Fixed assets
Tangible fixed assets		115,532	99,145
Current assets
Stocks		20,299	33,783
Debtors		30,877	26,516
Cash at bank and in hand		55,186	39,788
		106,362	100,087
Creditors: Amounts falling due within one year		(45,049)	(21,932)
Net current assets		61,313	78,155
Total assets less current liabilities		176,845	177,300
Creditors: Amounts falling due after more than one year		(12,588)	-
Net assets		164,257	177,300
Capital and reserves
Called up share capital	3	1	1
Profit and loss account		164,256	177,299
Shareholders' funds		164,257	177,300

For the year ending 30 September 2013 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 November 2013

The notes on pages 4 to 5 form an integral part of these financial statements.
Page 2

Pendle Stained Glass Limited
(Registration number: 03849985)
Abbreviated Balance Sheet at 30 September 2013
......... continued

.........................................
Mr D H Moore
Director

The notes on pages 4 to 5 form an integral part of these financial statements.
Page 3

Pendle Stained Glass Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2013
......... 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 April 2008).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

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	25% reducing balance basis
Office equipment	25% reducing balance basis
Motor vehicles	25% reducing balance basis

Work in progress

Work in progress is 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.

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.

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

Page 4

Pendle Stained Glass Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2013
......... 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 October 2012	115,423	115,423
Additions	23,168	23,168
At 30 September 2013	138,591	138,591
Depreciation
At 1 October 2012	16,278	16,278
Charge for the year	6,781	6,781
At 30 September 2013	23,059	23,059
Net book value
At 30 September 2013	115,532	115,532
At 30 September 2012	99,145	99,145

3	Share capital

Allotted, called up and fully paid shares

	2013			2012
		No.	£		No.	£
Ordinary of £1 each		1	1		1	1

Page 5