For the year ended 31 March 2015
Unaudited Abbreviated Report and Financial Statements
England and Wales
Registered Number: 04202585
PBMS (Torquay) Limited
For the year ended 31 March 2015
1
Accountants' Report
2
Balance Sheet
3 to 4
Notes to the Abbreviated Financial Statements
Accountants' Report
For the year ended 31 March 2015
PBMS (Torquay) Limited
As described on the balance sheet you are responsible for the preparation of the financial statements for the year
|
ended
31
March
2015
and you consider that the company is exempt from an audit under the Companies Act
2006
.
|
In accordance with your instructions
,
we have compiled these unaudited financial statements in order to assist you
|
to fulfil your statutory responsibilities
,
from the accounting records and information and explanations supplied to us
.
|
Paul Dollins Accountants
Certified Public Accountants
3A Laburnum Row
Torre
Torquay
TQ2 7DA
1 of 4
Notes to the Abbreviated Financial Statements
|
For the year ended 31 March 2015
PBMS (Torquay) Limited
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
|
Deferred taxation arises when items are charged or credited in accounts in different periods to those in which they are included in the company's tax computations.Deferred tax is provided in full on timing differences that result in an obligation to pay more (or less) tax at a future date. Deferred tax is calculated at the average rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. The resulting deferred tax asset or liability is not discounted.
|
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
|
Land and Buildings
Plant and Machinery
No depreciation is provided on the company
'
s freehold properties since in the opinion of the directors the expected
|
useful lives are sufficiently long and the estimated residual values are sufficiently high that any such depreciation
|
would be immaterial
.
The directors undertake an annual impairment review of these properties
.
|
Investment properties are included in the balance sheet at their open market value at the balance sheet date
.
The
|
resulting aggregate surplus or deficit is transferred to a revaluation reserve
.
Depreciation is provided only on those
|
investment properties which are leasehold and where the unexpired lease term is less than
20
years
.
|
Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities
(
effective
|
April
2008
)
,
it is a departure from the general requirement of the Companies Act
2006
for all tangible assets to be
|
depreciated
.
In the opinion of the directors compliance with the standard is necessary for the financial statements to
|
give a true and fair view
.
Depreciation or amortisation is only one of many factors reflected in the annual valuation
|
and the amount of this which might otherwise have been charged cannot be separately identified or quantified
.
|
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
3 of 4
Notes to the Abbreviated Financial Statements
|
For the year ended 31 March 2015
PBMS (Torquay) Limited
253,779
339
254,118
7,958
623
Charge for year
8,581
245,537
245,821
3
Fixed asset investments
|
13,000
(10,000)
3,000
3,000
13,000
Allotted called up and fully paid
|
2015
2014
2
Ordinary Shares shares of £
1
.
00
each
|
2
2
2
2
4 of 4