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Premier Braking Limited |
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Abbreviated Unaudited Accounts |
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for the Year Ended 31 December 2015 |
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REGISTERED NUMBER:
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Premier Braking Limited |
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Abbreviated Unaudited Accounts |
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for the Year Ended 31 December 2015 |
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Premier Braking Limited (Registered number: SC133975) |
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Contents of the Abbreviated Accounts |
for the Year Ended 31 December 2015 |
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Page |
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Company Information | 1 |
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Abbreviated Balance Sheet | 2 |
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Notes to the Abbreviated Accounts | 4 |
Premier Braking Limited |
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Company Information |
for the Year Ended 31 December 2015 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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BANKERS: |
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Premier Braking Limited (Registered number: SC133975) |
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Abbreviated Balance Sheet |
31 December 2015 |
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2015 | 2014 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 2 |
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CURRENT ASSETS |
Stocks |
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Debtors |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT ASSETS |
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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 |
Called up share capital | 3 |
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Profit and loss account |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their responsibilities for: |
(a) |
ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the
Companies Act 2006 and |
(b) |
preparing financial statements which give a true and fair view of the state of affairs of the company
as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
Premier Braking Limited (Registered number: SC133975) |
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Abbreviated Balance Sheet - continued |
31 December 2015 |
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The financial statements were approved by the Board of Directors on
on its behalf by: |
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Premier Braking Limited (Registered number: SC133975) |
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Notes to the Abbreviated Accounts |
for the Year Ended 31 December 2015 |
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1. | ACCOUNTING POLICIES |
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Accounting convention |
The financial statements have been prepared under the historical cost convention and in |
accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015). |
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Turnover and revenue recognition |
Turnover represents net invoiced sales of motorcycle accessories. |
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Income is recognised on dispatch of goods. |
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Tangible fixed assets |
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Website development | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for |
obsolete and slow moving items. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed |
at the balance sheet date where transactions or events have occurred at that date that will result in |
an obligation to pay more, or a right to pay less or to receive more, tax. |
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Deferred tax assets are recognised only to the extent that the directors consider that it is more |
likely than not that there will be suitable taxable profits from which the future reversal of the |
underlying timing differences can be deducted. |
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Deferred tax is measured on an undiscounted basis at the rates that are expected to apply in the |
periods in which timing differences reverse, based on tax rates and laws enacted or substantively |
enacted at the balance sheet date. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling |
at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate |
of exchange ruling at the date of transaction. Exchange differences are taken into account in |
arriving at the operating result. |
Premier Braking Limited (Registered number: SC133975) |
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Notes to the Abbreviated Accounts - continued |
for the Year Ended 31 December 2015 |
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2. | TANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 January 2015 |
and 31 December 2015 |
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DEPRECIATION |
At 1 January 2015 |
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Charge for year |
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At 31 December 2015 |
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NET BOOK VALUE |
At 31 December 2015 |
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At 31 December 2014 |
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3. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2015 | 2014 |
value: | £ | £ |
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Ordinary A | £1 |
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Ordinary B | £1 |
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100 | 100 |
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The issued share capital of Ordinary A and B shares shall rank pari passu in all respects. |
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4. | ULTIMATE CONTROLLING PARTY |
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There is no ultimate controlling party. |