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COMPANY REGISTRATION NUMBER: 02353508
Printing & Rollercoating Co Ltd
Filleted Unaudited Financial Statements
31 March 2018
Printing & Rollercoating Co Ltd
Financial Statements
Year ended 31 March 2018
Contents
Pages
Officers and professional advisers
1
Statement of financial position
2 to 3
Notes to the financial statements
4 to 6
Printing & Rollercoating Co Ltd
Officers and Professional Advisers
Director Mr G Pearcy
- Director
Registered office
4 Church Gardens
Mansfield Woodhouse
Nottinghamshire
NG19 9JF
Accountants
Gregory Priestley & Stewart
Chartered Accountants
Alexandra House
123 Priestsic Road
Sutton in Ashfield
Nottinghamshire
NG17 4EA
Printing & Rollercoating Co Ltd
Statement of Financial Position
31 March 2018
2018
2017
Note
£
£
Fixed assets
Tangible assets
4
86,701
88,571
Current assets
Debtors
5
185
Cash at bank and in hand
480
15,739
----
--------
665
15,739
Creditors: amounts falling due within one year
6
81,332
90,700
--------
--------
Net current liabilities
80,667
74,961
--------
--------
Total assets less current liabilities
6,034
13,610
Provisions
2,014
2,494
-------
--------
Net assets
4,020
11,116
-------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
3,920
11,016
-------
--------
Shareholders funds
4,020
11,116
-------
--------
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 year 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 year 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 .
Printing & Rollercoating Co Ltd
Statement of Financial Position (continued)
31 March 2018
These financial statements were approved by the board of directors and authorised for issue on 26 October 2018 , and are signed on behalf of the board by:
Mr G Pearcy
Director
Company registration number: 02353508
Printing & Rollercoating Co Ltd
Notes to the Financial Statements
Year ended 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 4 Church Gardens, Mansfield Woodhouse, Nottinghamshire, NG19 9JF.
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
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.
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.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
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:
Plant and machinery
-
15% reducing balance
Fixtures and fittings
-
15% reducing balance
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. Tangible assets
Freehold property
Plant and machinery
Fixtures and fittings
Total
£
£
£
£
Cost
At 1 April 2017 and 31 March 2018
76,101
48,271
3,111
127,483
--------
--------
-------
---------
Depreciation
At 1 April 2017
37,310
1,602
38,912
Charge for the year
1,644
226
1,870
--------
--------
-------
---------
At 31 March 2018
38,954
1,828
40,782
--------
--------
-------
---------
Carrying amount
At 31 March 2018
76,101
9,317
1,283
86,701
--------
--------
-------
---------
At 31 March 2017
76,101
10,961
1,509
88,571
--------
--------
-------
---------
5. Debtors
2018
2017
£
£
Other debtors
185
----
----
6. Creditors: amounts falling due within one year
2018
2017
£
£
Corporation tax
238
Other creditors
81,332
90,462
--------
--------
81,332
90,700
--------
--------
7. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2018
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
Mr G Pearcy
( 88,612)
13,000
( 5,000)
( 80,612)
--------
--------
-------
--------
2017
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
Mr G Pearcy
( 96,832)
18,220
( 10,000)
( 88,612)
--------
--------
--------
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