Company Registration No. 05551140 (England and Wales)
PENNY & LISA LETTINGS AND MANAGEMENT LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2016
PENNY & LISA LETTINGS AND MANAGEMENT LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
PENNY & LISA LETTINGS AND MANAGEMENT LIMITED
ABBREVIATED BALANCE SHEET
AS AT
30 JUNE 2016
30 June 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Intangible assets
2
-
11,025
Tangible assets
2
14,954
14,771
Investments
2
2,000
2,000
16,954
27,796
Current assets
Debtors
10,974
11,885
Cash at bank and in hand
498,318
452,628
509,292
464,513
Creditors: amounts falling due within one year
(294,727)
(290,508)
Net current assets
214,565
174,005
Total assets less current liabilities
231,519
201,801
Provisions for liabilities
(2,991)
(2,808)
228,528
198,993
Capital and reserves
Called up share capital
3
118
118
Profit and loss account
228,410
198,875
Shareholders' funds
228,528
198,993
PENNY & LISA LETTINGS AND MANAGEMENT LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
30 JUNE 2016
30 June 2016
- 2 -
For the financial year ended 30 June 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 17 October 2016
Ms L Dickens
Director
Company Registration No. 05551140
PENNY & LISA LETTINGS AND MANAGEMENT LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 JUNE 2016
- 3 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.3
Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Plant and machinery
30% reducing balance
Fixtures, fittings & equipment
15% reducing balance
1.5
Investments
Fixed asset investments are stated at cost less provision for diminution in value.
1.6
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
2
Fixed assets
Intangible assets
Tangible assets
Investments
Total
£
£
£
£
Cost
At 1 July 2015
110,250
34,604
2,000
146,854
Additions
-
3,237
-
3,237
At 30 June 2016
110,250
37,841
2,000
150,091
Depreciation
At 1 July 2015
99,225
19,833
-
119,058
Charge for the year
11,025
3,054
-
14,079
At 30 June 2016
110,250
22,887
-
133,137
Net book value
At 30 June 2016
-
14,954
2,000
16,954
At 30 June 2015
11,025
14,771
2,000
27,796
PENNY & LISA LETTINGS AND MANAGEMENT LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2016
- 4 -
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 Ordinary A of £1 each
100
100
18 Ordinary B of £1 each
18
18
118
118