Registration number:
Unaudited Abbreviated Accounts
for the Year Ended
Paddockwood Forge Limited
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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 4 ) have been prepared.
Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Paddockwood Forge Limited
for the Year Ended 30 November 2016
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Paddockwood Forge Limited for the year ended 30 November 2016 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 Financial Accounatnts, we are subject to its ethical and other professional requirements.
This report is made solely to the Board of Directors of Paddockwood Forge Limited , as a body, in accordance with the terms of our engagement letter dated 18 November 2006 . Our work has been undertaken solely to prepare for your approval the accounts of Paddockwood Forge Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with the Institute of Financial Accountants. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Paddockwood Forge Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Paddockwood Forge 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 Paddockwood Forge Limited. You consider that Paddockwood Forge 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 Paddockwood Forge 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.
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R & A Accountancy Services (Lincs) Ltd
Accountants
3 Fountain Court
Market Place
Epworth
Doncaster
South Yorkshire
DN9 1EG
24 May 2017
Paddockwood Forge Limited
(Registration number: 05997200)
Abbreviated Balance Sheet at 30 November 2016
Note |
2016
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2015
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Fixed assets |
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Intangible fixed assets |
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Tangible fixed assets |
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Current assets |
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Stocks |
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Debtors |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Shareholders' funds |
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Approved by the Board on
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Mr Jeremy Hallam
Director
2
Paddockwood Forge Limited
Notes to the Abbreviated Accounts for the Year Ended 30 November 2016
......... continued
Accounting policies |
Basis of preparation
Turnover
Goodwill
Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.
Amortisation
Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:
Asset class |
Amortisation method and rate |
Goodwill |
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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 |
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Plant and machinery |
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Stock
Deferred tax
Hire purchase and leasing
Paddockwood Forge Limited
Notes to the Abbreviated Accounts for the Year Ended 30 November 2016
......... continued
Financial instruments
Fixed assets |
Intangible assets
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Tangible assets
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Total
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Cost |
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At 1 December 2015 |
58,500 |
56,389 |
114,889 |
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Additions |
- |
110 |
110 |
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Disposals |
- |
(415) |
(415) |
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At 30 November 2016 |
58,500 |
56,084 |
114,584 |
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Depreciation |
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At 1 December 2015 |
26,325 |
28,731 |
55,056 |
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Charge for the year |
2,925 |
6,111 |
9,036 |
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Eliminated on disposals |
- |
(273) |
(273) |
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At 30 November 2016 |
29,250 |
34,569 |
63,819 |
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Net book value |
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At 30 November 2016 |
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At 30 November 2015 |
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Share capital |
Allotted, called up and fully paid shares
2016 |
2015 |
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No. |
£ |
No. |
£ |
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