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REGISTERED NUMBER: 05413616 (England and Wales)





















PROLINE SPECIALIST FINISHING LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018






PROLINE SPECIALIST FINISHING LIMITED (REGISTERED NUMBER: 05413616)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


PROLINE SPECIALIST FINISHING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2018







DIRECTOR: G Jones





SECRETARY: Mrs L J Jones





REGISTERED OFFICE: 22-24 Harborough Road
Kingsthorpe
Northampton
NN2 7AZ





REGISTERED NUMBER: 05413616 (England and Wales)





ACCOUNTANTS: Phipps Henson McAllister
Chartered Accountants
22-24 Harborough Road
Kingsthorpe
Northampton
NN2 7AZ

PROLINE SPECIALIST FINISHING LIMITED (REGISTERED NUMBER: 05413616)

BALANCE SHEET
31 MARCH 2018

2018 2017
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 4,505 6,205
Tangible assets 5 169,520 149,731
174,025 155,936

CURRENT ASSETS
Stocks 20,138 27,018
Debtors 6 59,818 55,385
Cash at bank 10,893 1,909
90,849 84,312
CREDITORS
Amounts falling due within one year 7 139,843 149,621
NET CURRENT LIABILITIES (48,994 ) (65,309 )
TOTAL ASSETS LESS CURRENT LIABILITIES 125,031 90,627

CREDITORS
Amounts falling due after more than one
year

8

(31,139

)

(34,962

)

PROVISIONS FOR LIABILITIES (6,043 ) (1,615 )
NET ASSETS 87,849 54,050

CAPITAL AND RESERVES
Called up share capital 9 2 2
Retained earnings 87,847 54,048
SHAREHOLDERS' FUNDS 87,849 54,050

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

PROLINE SPECIALIST FINISHING LIMITED (REGISTERED NUMBER: 05413616)

BALANCE SHEET - continued
31 MARCH 2018


The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director on 19 September 2018 and were signed by:





G Jones - Director


PROLINE SPECIALIST FINISHING LIMITED (REGISTERED NUMBER: 05413616)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018


1. STATUTORY INFORMATION

Proline Specialist Finishing Limited is a private company, limited by shares , registered in England and Wales.
The company's registered number and registered office address can be found on the Company Information
page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,
rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost
less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Office Equipment - 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to
the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or
substantively enacted by the balance sheet date.


PROLINE SPECIALIST FINISHING LIMITED (REGISTERED NUMBER: 05413616)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2018


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the
balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different
from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and
laws that have been enacted or substantively enacted by the year end and that are expected to apply to the
reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that
they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the
lease.

Debtors and creditors
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at
transaction price. Any losses arising from impairment are recognised in the profit and loss account in other
administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2017 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2017
and 31 March 2018 17,000
AMORTISATION
At 1 April 2017 10,795
Charge for year 1,700
At 31 March 2018 12,495
NET BOOK VALUE
At 31 March 2018 4,505
At 31 March 2017 6,205

PROLINE SPECIALIST FINISHING LIMITED (REGISTERED NUMBER: 05413616)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2018


5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 April 2017 162,500 26,799 546
Additions - - 3,966
At 31 March 2018 162,500 26,799 4,512
DEPRECIATION
At 1 April 2017 22,750 22,623 469
Charge for year 3,250 1,044 606
At 31 March 2018 26,000 23,667 1,075
NET BOOK VALUE
At 31 March 2018 136,500 3,132 3,437
At 31 March 2017 139,750 4,176 77

Motor Office
vehicles Equipment Totals
£    £    £   
COST
At 1 April 2017 7,660 2,404 199,909
Additions 29,483 - 33,449
At 31 March 2018 37,143 2,404 233,358
DEPRECIATION
At 1 April 2017 2,358 1,978 50,178
Charge for year 8,696 64 13,660
At 31 March 2018 11,054 2,042 63,838
NET BOOK VALUE
At 31 March 2018 26,089 362 169,520
At 31 March 2017 5,302 426 149,731

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Trade debtors 56,668 52,194
Other debtors 400 1,000
Prepayments and accrued income 2,750 2,191
59,818 55,385

PROLINE SPECIALIST FINISHING LIMITED (REGISTERED NUMBER: 05413616)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2018


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Bank loans and overdrafts 10,579 17,826
Hire purchase contracts 2,764 -
Trade creditors 9,556 10,881
Taxation and social security 33,619 29,877
Other creditors 83,325 91,037
139,843 149,621

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2018 2017
£    £   
Bank loans 25,719 34,962
Hire purchase contracts 5,420 -
31,139 34,962

Amounts falling due in more than five years:

Repayable by instalments
Bank Loan due in 2-5 yrs 15,140 24,383

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2018 2017
value: £    £   
2 Ordinary £1 2 2