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Registration number: 7195492

PDL (Bournemouth) Limited
 

 
Annual Report and Unaudited Abbreviated Accounts
 

 
for the Year Ended 31 March 2016
 

 

PDL (Bournemouth) Limited
Contents

Abbreviated Balance Sheet

1

Notes to the Abbreviated Accounts

2 to 3

 

PDL (Bournemouth) Limited
(Registration number: 7195492)
Abbreviated Balance Sheet at 31 March 2016

   

Note

   

2016
£

   

2015
£

 

Fixed assets

 

             

Tangible fixed assets

 

   

26,842

   

21,258

 

Current assets

 

             

Stocks

 

   

81,873

   

7,833

 

Debtors

 

   

152,581

   

37,034

 

Cash at bank and in hand

 

   

385,913

   

103,894

 
   

   

620,367

   

148,761

 

Creditors: Amounts falling due within one year

 

   

(279,863)

   

(82,524)

 

Net current assets

 

   

340,504

   

66,237

 

Total assets less current liabilities

 

   

367,346

   

87,495

 

Creditors: Amounts falling due after more than one year

 

   

(4,841)

   

(4,805)

 

Provisions for liabilities

 

   

(40,958)

   

(6,288)

 

Net assets

 

   

321,547

   

76,402

 

Capital and reserves

 

             

Called up share capital

 

3

   

84

   

168

 

Capital redemption reserve

 

   

168

   

84

 

Profit and loss account

 

   

321,295

   

76,150

 

Shareholders' funds

 

   

321,547

   

76,402

 

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 15 December 2016

.........................................
Mr T Mackin
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

 

PDL (Bournemouth) 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).

The accounts do not include a cash flow statement because the company, as a small reporting entity, is exempt from the requirements to prepare such a statement.

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

Motor Vehicles

25% on cost

Equipment, fixtures and fittings

25% reducing balance

Work in progress and long term contracts

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. Revenue from long term contracts is recognised by stage of completion. Stage of completion is measured by reference to costs incurred to date as a percentage of total estimated costs for each contract. Where the contract outcome cannot be measured reliably, revenue is measured only to the extent of the expenses recognised that are recoverable. Full provision is made for losses on all contracts in the year in which they are first foreseen.

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.

 

PDL (Bournemouth) Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

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.

2

Fixed assets

   

Tangible assets
£

   

Total
£

 

Cost

           

At 1 April 2015

 

40,107

   

40,107

 

Additions

 

13,302

   

13,302

 

At 31 March 2016

 

53,409

   

53,409

 

Depreciation

           

At 1 April 2015

 

18,849

   

18,849

 

Charge for the year

 

7,718

   

7,718

 

At 31 March 2016

 

26,567

   

26,567

 

Net book value

           

At 31 March 2016

 

26,842

   

26,842

 

At 31 March 2015

 

21,258

   

21,258

 

3

Share capital

Allotted, called up and fully paid shares

 

2016

2015

   

No.

   

£

   

No.

   

£

 

Class A of £1 each

 

34

   

34

   

68

   

68

 

Class B of £1 each

 

50

   

50

   

50

   

50

 

Class C of £1 each

 

-

   

-

   

50

   

50

 
   

84

   

84

   

168

   

168