REGISTERED NUMBER: 05776762

Priddy's Ltd

Abbreviated Unaudited Accounts

for the Year Ended 30 April 2016

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

A Priddy

S A Priddy

SECRETARY:

S A Priddy

REGISTERED OFFICE:

Rumwell Hall

Rumwell

Taunton

Somerset

TA4 1EL

REGISTERED NUMBER:

05776762

ACCOUNTANTS:

BJ Dixon Walsh Ltd

Rumwell Hall

Rumwell

Taunton

Somerset

TA4 1EL

FIXED ASSETS

Intangible assets

2

-

3,520

Tangible assets

3

13,923

11,242

13,923

14,762

CURRENT ASSETS

Stocks

36,616

46,192

Debtors

416

2,407

Cash at bank and in hand

21,240

12,648

58,272

61,247

CREDITORS

Amounts falling due within one year

51,614

47,767

NET CURRENT ASSETS

6,658

13,480

TOTAL ASSETS LESS CURRENT LIABILITIES

20,581

28,242

PROVISIONS FOR LIABILITIES

2,283

1,636

NET ASSETS

18,298

26,606

CAPITAL AND RESERVES

Called up share capital

4

100

100

Profit and loss account

18,198

26,506

SHAREHOLDERS' FUNDS

18,298

26,606

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2016 in accordance with Section 476 of the Companies Act 2006.

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.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 6 September 2016 and were signed on its behalf by:

A Priddy - Director

1.	ACCOUNTING POLICIES

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).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Goodwill

Goodwill is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

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

Plant and machinery

-

33% on cost and 15% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

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 occured at that date that will result in an

obligation to pay more, or a right to pay less or to receive more tax, with the following exceptions:

- Provision is made for tax on gains arising from the revaluation (and similar fair value adjustments) of

fixed assets, and gains on disposal of fixed assets that have been rolled over into replacement assets,

only to the extent that, at the balance sheet date, there is a binding agreement to dispose of the assets

concerned. However, no provision is made where, on the basis of all available evidence at the balance

sheet date, it is more likely than not that the taxable gain will be rolled over into replacement assets

and charged to tax only where the replacement assets are sold.

- 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.

Deferred tax is measured on an undiscounted basis at the tax 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.balance sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis

over the period of the lease.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual

arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument

is any contract that evidences a residual interest in the assets of the company after deducting all of its

liabilities.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 May 2015

and 30 April 2016

35,200

AMORTISATION

At 1 May 2015

31,680

Amortisation for year

3,520

At 30 April 2016

35,200

NET BOOK VALUE

At 30 April 2016

-

At 30 April 2015

3,520

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 May 2015

21,473

Additions

4,811

At 30 April 2016

26,284

DEPRECIATION

At 1 May 2015

10,231

Charge for year

2,130

At 30 April 2016

12,361

NET BOOK VALUE

At 30 April 2016

13,923

At 30 April 2015

11,242

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

100

Ordinary

£1.00

100

100