Registered Number 07759445

PALMERS AT ULLESTHORPE LIMITED

Abbreviated Accounts

31 July 2016

PALMERS AT ULLESTHORPE LIMITED Registered Number 07759445

Abbreviated Balance Sheet as at 31 July 2016

Notes 2016 2015
£ £
Fixed assets
Tangible assets 2 410,197 363,618
410,197 363,618
Current assets
Stocks 331,316 318,221
Debtors 53,730 52,848
Cash at bank and in hand 312,626 285,640
697,672 656,709
Creditors: amounts falling due within one year 3 (366,609 ) (473,854 )
Net current assets (liabilities) 331,063 182,855
Total assets less current liabilities 741,260 546,473
Creditors: amounts falling due after more than one year 3 (506,642 ) (431,140 )
Provisions for liabilities (33,350 ) (21,750 )
Total net assets (liabilities) 201,268 93,583
Capital and reserves
Called up share capital 4 1,000 1,000
Profit and loss account 200,268 92,583
Shareholders' funds 201,268 93,583

  • For the year ending 31 July 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
  • The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
  • These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 29 May 2017

And signed on their behalf by:
C F Jackson, Director

PALMERS AT ULLESTHORPE LIMITED Registered Number 07759445

Notes to the Abbreviated Accounts for the period ended 31 July 2016

1 Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Tangible assets depreciation policy
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:
Land - not depreciated
Buildings - 15% straight line
Leasehold improvements - 15% straight line
Fixtures, fittings & equipment - 10% - 33% straight line
Vehicles - 25% reducing balance

Valuation information and policy
Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Other accounting policies
Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE.

Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

2 Tangible fixed assets
£
Cost
At 1 August 2015 626,284
Additions 130,990
Disposals -
Revaluations -
Transfers -
At 31 July 2016 757,274
Depreciation
At 1 August 2015 262,666
Charge for the year 84,411
On disposals -
At 31 July 2016 347,077
Net book values
At 31 July 2016 410,197
At 31 July 2015 363,618
3 Creditors
2016
£
2015
£
Secured Debts 26,246 23,062
4 Called Up Share Capital
Allotted, called up and fully paid:
2016
£
2015
£
450 A Ordinary shares of £1 each 450 450
100 C Ordinary shares of £1 each 100 100
450 D Ordinary shares of £1 each 450 450