PG Bennett Limited 4745217 false true 2013-06-01 2014-05-31 2014-05-31 true 4745217 2013-06-01 2014-05-31 4745217 2014-05-31 4745217 uk-bus:OrdinaryShareClass1 2014-05-31 4745217 uk-bus:Director2 2013-06-01 2014-05-31 4745217 uk-bus:OrdinaryShareClass1 2013-06-01 2014-05-31 4745217 uk-gaap:MotorVehicles 2013-06-01 2014-05-31 4745217 uk-gaap:ToolsEquipment 2013-06-01 2014-05-31 4745217 2013-05-31 4745217 2013-05-31 4745217 uk-bus:OrdinaryShareClass1 2013-05-31 iso4217:GBP xbrli:shares

Registration number: 4745217



PG Bennett Limited

Unaudited Abbreviated Financial Statements

for the Year Ended 31 May 2014

 

PG Bennett Limited
Contents

Abbreviated Balance Sheet

1

Notes to the Abbreviated Financial Statements

2 to 3

 

PG Bennett Limited
(Registration number: 4745217)
Abbreviated Balance Sheet at 31 May 2014

 

Note

   

2014
£

   

2013
£

 

Fixed assets

 

   

   

 

Tangible fixed assets

 

   

2,009

   

2,480

 

 

2

   

2,009

   

2,480

 

Current assets

 

   

   

 

Stocks

 

   

1,000

   

667

 

Debtors

 

   

23,018

   

10,583

 

Cash at bank and in hand

 

   

5,286

   

501

 

 

   

29,304

   

11,751

 

Creditors: Amounts falling due within one year

 

   

(31,275)

   

(10,554)

 

Net current (liabilities)/assets

 

   

(1,971)

   

1,197

 

Net assets

 

   

38

   

3,677

 

Capital and reserves

 

   

   

 

Called up share capital

 

3

   

1

   

1

 

Profit and loss account

 

   

37

   

3,676

 

Shareholders' funds

 

   

38

   

3,677

 

For the year ending 31 May 2014 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the director on 1 December 2014


 
P G Bennett
 
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

 

PG Bennett Limited
Notes to the Abbreviated Financial Statements for the
Year Ended 31 May 2014

1

Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated financial statements have been extracted, have been prepared under the historical cost convention and in accordance with applicable accounting standards.

Going concern

The financial statements have been prepared on the assumption that the company is able to carry on business as a going concern, which the director considers appropriate.

Exemption from preparing a cash flow statement

The financial statements do not include a cash flow statement because the company, as a small reporting entity, is exempt from the requirements to prepare such a statement.

Turnover

Turnover comprises the invoiced value of goods and services supplied by the company during the year, net of discounts and value added tax.

Government grants

Government grants are recognised in the profit and loss account so as to match them with the expenditure towards which they are intended to contribute.

Depreciation

Depreciation is provided at the following annual rates to write off each asset over its estimated useful life:

Asset class

Depreciation method and rate

Equipment

25% on net book value

Motor vehicles

25% on net book value

Stock

Stocks are valued at the lower of cost and net realisable value.

Deferred tax

Deferred taxation arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset. Deferred tax assets and liabilities are not discounted.



 

PG Bennett Limited
Notes to the Abbreviated Financial Statements for the
Year Ended 31 May 2014

Hire purchase and leasing

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.

Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.

2

Fixed assets

   

Tangible assets
£

   

Total
£

 

Cost

           

At 1 June 2013

 

16,873

   

16,873

 

Additions

 

290

   

290

 

Disposals

 

(382)

   

(382)

 

At 31 May 2014

 

16,781

   

16,781

 

Depreciation

           

At 1 June 2013

 

14,393

   

14,393

 

Charge for the year

 

670

   

670

 

Eliminated on disposals

 

(291)

   

(291)

 

At 31 May 2014

 

14,772

   

14,772

 

Net book value

           

At 31 May 2014

 

2,009

   

2,009

 

At 31 May 2013

 

2,480

   

2,480

 

3

Share capital

Allotted, called up and fully paid shares

 

2014

2013

   

No.

   

£

   

No.

   

£

 

Ordinary shares of £1 each

 

1

   

1

   

1

   

1

 
                         

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