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PAULS ICE CREAM LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2018






PAULS ICE CREAM LIMITED (REGISTERED NUMBER: 07472138)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2018




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PAULS ICE CREAM LIMITED

COMPANY INFORMATION
for the Year Ended 31 March 2018







DIRECTOR: Mr Raj Kumar Kapoor





REGISTERED OFFICE: Heritage House
9b Hoghton Street
Southport
Merseyside
PR9 0TE





REGISTERED NUMBER: 07472138 (England and Wales)





ACCOUNTANTS: Philip T Jones & Partners Ltd
Heritage House
9B Hoghton Street
Southport
Merseyside
PR9 0TE

PAULS ICE CREAM LIMITED (REGISTERED NUMBER: 07472138)

BALANCE SHEET
31 March 2018

31/3/18 31/3/17
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 15,625 12,675
Tangible assets 5 45,060 20,283
60,685 32,958

CURRENT ASSETS
Stocks 3,500 -
Debtors 6 16,921 4,200
Cash at bank and in hand 5,646 47,951
26,067 52,151
CREDITORS
Amounts falling due within one year 7 44,980 71,397
NET CURRENT LIABILITIES (18,913 ) (19,246 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

41,772

13,712

CREDITORS
Amounts falling due after more than one
year

8

34,437

5,600
NET ASSETS 7,335 8,112

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 7,235 8,012
SHAREHOLDERS' FUNDS 7,335 8,112

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.

PAULS ICE CREAM LIMITED (REGISTERED NUMBER: 07472138)

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 Income Statement has not been delivered.

The financial statements were approved by the director on 13 November 2018 and were signed by:





Mr Raj Kumar Kapoor - Director


PAULS ICE CREAM LIMITED (REGISTERED NUMBER: 07472138)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2018

1. STATUTORY INFORMATION

Pauls Ice Cream 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.

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.

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.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% 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.

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.

PAULS ICE CREAM LIMITED (REGISTERED NUMBER: 07472138)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2018

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held
under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases
are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element
of the future payments is treated as a liability.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2017 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Patents
and
licences
£   
COST
At 1 April 2017 12,675
Additions 2,950
At 31 March 2018 15,625
NET BOOK VALUE
At 31 March 2018 15,625
At 31 March 2017 12,675

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 April 2017 43,100 48 43,148
Additions 40,478 1,238 41,716
Disposals (8,600 ) - (8,600 )
At 31 March 2018 74,978 1,286 76,264
DEPRECIATION
At 1 April 2017 22,825 40 22,865
Charge for year 14,714 310 15,024
Eliminated on disposal (6,685 ) - (6,685 )
At 31 March 2018 30,854 350 31,204
NET BOOK VALUE
At 31 March 2018 44,124 936 45,060
At 31 March 2017 20,275 8 20,283

PAULS ICE CREAM LIMITED (REGISTERED NUMBER: 07472138)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2018

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 April 2017
and 31 March 2018 11,500
DEPRECIATION
At 1 April 2017 9,455
Charge for year 511
At 31 March 2018 9,966
NET BOOK VALUE
At 31 March 2018 1,534
At 31 March 2017 2,045

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/18 31/3/17
£    £   
Other debtors 16,921 4,200

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/18 31/3/17
£    £   
Bank loans and overdrafts 7,271 -
Hire purchase contracts 5,600 5,600
Taxation and social security 10,616 1,054
Other creditors 21,493 64,743
44,980 71,397

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/3/18 31/3/17
£    £   
Bank loans 19,729 -
Hire purchase contracts - 5,600
Other creditors 14,708 -
34,437 5,600