Company Registration No. 06011775 (England and Wales)
A & C PALMER ASSOCIATES LTD.
Abbreviated Accounts
For The Year Ended 30 November 2015
A & C PALMER ASSOCIATES LTD.
Company Information
Directors
A.A. Palmer
C.L. Palmer
Secretary
C.L. Palmer
Company Number
06011775
Registered Office
19 Malvern Drive,
Woodford Green,
Essex,
IG8 0JR.
Accountants
Nicholas Hall
7b, Johnston Road,
Woodford Green,
Essex,
IG8 0XA.
Business Address
19 Malvern Drive,
Woodford Green,
Essex,
IG8 0JR.
A & C PALMER ASSOCIATES LTD.
Contents
Page
Accountants' Report
1
Abbreviated Balance Sheet
2 - 3
Notes To The Abbreviated Accounts
4 - 5
A & C PALMER ASSOCIATES LTD.
Accountants' Report To The Board Of Directors On The Preparation Of The Unaudited Statutory Financial Statements Of
A & C Palmer Associates Ltd.
A & C PALMER ASSOCIATES LTD.
For The Year Ended 30 November 2015
- 1 -
The following reproduces the text of the Accountants' Report prepared in respect of the company's annual unaudited financial statements, from which the unaudited abbreviated financial statements set out on pages 2 to 5 have been prepared.
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of A & C Palmer Associates Ltd. for the year ended 30 November 2015 set out on pages 3 to 8 from the company’s accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of A & C Palmer Associates Ltd., as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the financial statements of A & C Palmer Associates Ltd. and state those matters that we have agreed to state to the Board of Directors of A & C Palmer Associates Ltd., as a body, in this report in accordance with technical guidelines. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than A & C Palmer Associates Ltd. and its Board of Directors as a body, for our work or for this report.
It is your duty to ensure that A & C Palmer Associates Ltd. has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of A & C Palmer Associates Ltd.. You consider that A & C Palmer Associates Ltd. is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of A & C Palmer Associates Ltd.. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Nicholas Hall
________________________________
Nicholas Hall
7b, Johnston Road,
Woodford Green,
Essex,
IG8 0XA.
23 August 2016
A & C PALMER ASSOCIATES LTD.
Abbreviated Balance Sheet
As At 30 November 2015
- 2 -
2015
2014
Notes
£
£
£
£
Fixed Assets
Tangible Assets
2
1,212
1,468
Current Assets
Cash At Bank And In Hand
755
1,280
Creditors: Amounts Falling Due Within One Year
(924)
(1,084)
Net Current (Liabilities)/Assets
(169)
196
Total Assets Less Current Liabilities
1,043
1,664
Capital And Reserves
Called Up Share Capital
3
29,265
24,015
Profit And Loss Account
(28,222)
(22,351)
Shareholders' Funds
1,043
1,664
A & C PALMER ASSOCIATES LTD.
Abbreviated Balance Sheet (Continued)
As At 30 November 2015
- 3 -
For the financial year ended 30 November 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 23 August 2016
A.A. Palmer
_______________________________
A.A. Palmer
Director
Company Registration No. 06011775
A & C PALMER ASSOCIATES LTD.
Notes To The Abbreviated Accounts
For The Year Ended 30 November 2015
- 4 -
1
Accounting Policies
1.1
Accounting Convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
1.2
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).
1.3
Turnover
Turnover represents amounts receivable for services.
1.4
Tangible Fixed Assets And Depreciation
No depreciation is provided as the company was dormant and did not trade during the year.
Computer Equipment
- 15% Reducing Balance
2
Fixed Assets
Tangible Assets
£
Cost
At 1 December 2014 & At 30 November 2015
2,405
Depreciation
At 1 December 2014
937
Charge For The Year
256
At 30 November 2015
1,193
Net Book Value
At 30 November 2015
1,212
At 30 November 2014
1,468
A & C PALMER ASSOCIATES LTD.
Notes To The Abbreviated Accounts (Continued)
For The Year Ended 30 November 2015
- 5 -
3
Share Capital
2015
2014
£
£
Allotted, Called Up And Fully Paid
15 Ordinary Shares of £1 each
15
15
29,250 5% Preference Shares of £1 each
29,250
24,000
29,265
24,015
During the year, 5,250 5% Preference Shares of £1 each were allotted and fully paid at par for cash consideration to provide additional working capital. These shares are redeemable at par at the option of the company on 30 November 2016 or on each anniversary of that date.