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COMPANY REGISTRATION NUMBER: 10950240
PMJ KITCHEN VENTILATION LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 March 2018
PMJ KITCHEN VENTILATION LIMITED
STATEMENT OF FINANCIAL POSITION
31 March 2018
31 Mar 18
Note
£
£
FIXED ASSETS
Intangible assets
5
32,000
Tangible assets
6
2,130
--------
34,130
CURRENT ASSETS
Debtors
7
20,940
Cash at bank and in hand
23,838
--------
44,778
CREDITORS: amounts falling due within one year
8
74,645
--------
NET CURRENT LIABILITIES
29,867
--------
TOTAL ASSETS LESS CURRENT LIABILITIES
4,263
-------
NET ASSETS
4,263
-------
CAPITAL AND RESERVES
Called up share capital
2
Profit and loss account
4,261
-------
SHAREHOLDERS FUNDS
4,263
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the period ending 31 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
PMJ KITCHEN VENTILATION LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 March 2018
These financial statements were approved by the board of directors and authorised for issue on 30 October 2018 , and are signed on behalf of the board by:
P.M. Jackson
Director
Company registration number: 10950240
PMJ KITCHEN VENTILATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
PERIOD FROM 7 SEPTEMBER 2017 TO 31 MARCH 2018
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 1 Buckingham Close, Haslingden, Rossendale, Lancashire, BB4 4DY.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
(a) Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
(b) Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
(c) Taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
(d) Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life.
(e) Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
5 years straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
(f) Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
(g) Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Motor Vehicles
-
25% per annum reducing balance
Equipment
-
15% per annum reducing balance
(h) Financial instruments
Basic financial instruments are recognised at amortised cost.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the period amounted to 1 .
5. INTANGIBLE ASSETS
Goodwill
£
Cost
Additions
35,000
--------
At 31 March 2018
35,000
--------
Amortisation
Charge for the period
3,000
--------
At 31 March 2018
3,000
--------
Carrying amount
At 31 March 2018
32,000
--------
6. TANGIBLE ASSETS
Motor Vehicles
Equipment
Total
£
£
£
Cost
At 7 September 2017
Additions
2,500
300
2,800
-------
----
-------
At 31 March 2018
2,500
300
2,800
-------
----
-------
Depreciation
At 7 September 2017
Charge for the period
625
45
670
-------
----
-------
At 31 March 2018
625
45
670
-------
----
-------
Carrying amount
At 31 March 2018
1,875
255
2,130
-------
----
-------
7. DEBTORS
31 Mar 18
£
Trade debtors
20,724
Prepayments and accrued income
216
--------
20,940
--------
8. CREDITORS: amounts falling due within one year
31 Mar 18
£
Trade creditors
4,299
Accruals and deferred income
1,050
Corporation tax
5,330
Social security and other taxes
5,411
Director loan accounts
53,555
Other creditors
5,000
--------
74,645
--------
9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES
There are no transactions with directors that require disclosure under FRS 102.
10. RELATED PARTY TRANSACTIONS
The company was under the control of the director, Mr P.M. Jackson , throughout the period. During the period the company paid dividends to the director, Mr P.M. Jackson , amounting to £10,000.