Registered Number 03782319
PATRICK GARVEY MANAGEMENT LIMITED
Abbreviated Accounts
31 January 2016
Notes | 31/01/2016 | 31/07/2014 | |
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£ | £ | ||
Fixed assets | |||
Intangible assets | 2 |
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Tangible assets | 3 |
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Current assets | |||
Debtors |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
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Net current assets (liabilities) |
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Total assets less current liabilities |
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Provisions for liabilities |
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Total net assets (liabilities) |
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Capital and reserves | |||
Called up share capital | 4 |
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Profit and loss account |
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Shareholders' funds |
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Approved by the Board on
And signed on their behalf by:
1 Accounting Policies
Basis of measurement and preparation of accounts
The accounts have been prepared on a going concern basis. The company is able to meet its day to day working capital requirements due to the support of a bank overdraft facility which is due for renewal in 2017. There has been no indication that the bank will not be willing to renew the overdraft. Since the year end the directors have taken measures to reduce costs to improve the company's financial position.
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
Turnover
Turnover represents amounts receivable for services net of VAT and trade discounts and is stated after disbursements and any monies collected on behalf of clients.
Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 1999, is being amortised evenly over its estimated useful life of twenty years.
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:
Computer equipment - 15% on reducing balance
Fixtures, fittings & equipment - 15% on reducing balance
Foreign currency translation
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.
£ | |
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Cost | |
At 1 August 2014 |
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Additions |
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Disposals |
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Revaluations |
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Transfers |
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At 31 January 2016 |
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Amortisation | |
At 1 August 2014 |
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Charge for the year |
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On disposals |
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At 31 January 2016 |
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Net book values | |
At 31 January 2016 | 18,658 |
At 31 July 2014 | 26,630 |
£ | |
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Cost | |
At 1 August 2014 |
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Additions |
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Disposals |
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Revaluations |
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Transfers |
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At 31 January 2016 |
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Depreciation | |
At 1 August 2014 |
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Charge for the year |
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On disposals |
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At 31 January 2016 |
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Net book values | |
At 31 January 2016 | 3,590 |
At 31 July 2014 | 4,060 |
5 Transactions with directors
Name of director receiving advance or credit: |
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Description of the transaction: |
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Balance at 1 August 2014: | £ |
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Advances or credits made: | £ |
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Advances or credits repaid: |
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Balance at 31 January 2016: | £ |