REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 March 2018 |
for |
Pin Cushion Interiors Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 March 2018 |
for |
Pin Cushion Interiors Limited |
Pin Cushion Interiors Limited (Registered number: SC497554) |
Contents of the Financial Statements |
for the Year Ended 31 March 2018 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Chartered Accountants' Report | 5 |
Pin Cushion Interiors Limited |
Company Information |
for the Year Ended 31 March 2018 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
29 Portland Road |
Kilmarnock |
KA1 2BY |
Pin Cushion Interiors Limited (Registered number: SC497554) |
Balance Sheet |
31 March 2018 |
2018 | 2017 |
Notes | £ | £ |
CURRENT ASSETS |
Stocks |
Cash in hand |
CREDITORS |
Amounts falling due within one year | 4 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | 5 | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
The director acknowledges her 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. |
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 |
Pin Cushion Interiors Limited (Registered number: SC497554) |
Notes to the Financial Statements |
for the Year Ended 31 March 2018 |
1. | STATUTORY INFORMATION |
Pin Cushion Interiors Limited is a |
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 |
The accounts have been prepared in £ sterling. |
The accounts have been prepared on the going concern basis which assumes that the company will continue to |
trade for a period of 12 months beyond the date of this report.The director has confirmed that she will continue |
to support the business. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
moving items. |
Basic financial instruments |
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. |
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. |
Employee benefits |
When employees have rendered service to the company, short term benefits to which the employees are entitled |
are recognised at the amount expected to be paid in exchange for that service. The cost of any unused holiday |
entitlement is recognised in the period in which the employees' services are received. |
Pin Cushion Interiors Limited (Registered number: SC497554) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2018 |
2. | ACCOUNTING POLICIES - continued |
Cash and cash equivalents |
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held with banks or other |
short term liquid investments. Bank overdrafts, if applicable, are shown within borrowings in current liabilities. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2017 - 1 ). |
4. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
5. | RESERVES |
Retained |
earnings |
£ |
At 1 April 2017 | ( |
) |
Profit for the year |
At 31 March 2018 | ( |
) |
6. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
The director's current account included within other creditors is unsecured, repayable on demand and carries no |
fixed entitlement to interest. |
7. | RELATED PARTY DISCLOSURES |
There are no known or undisclosed related party considerations. |
8. | ULTIMATE CONTROLLING PARTY |
The controlling party is Miss R Young. |
Chartered Accountants' Report to the Director |
on the Unaudited Financial Statements of |
Pin Cushion Interiors Limited |
The following reproduces the text of the report prepared for the director in respect of the company's annual |
unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file |
a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the |
Report of the Director are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
financial statements of Pin Cushion Interiors Limited for the year ended 31 March 2018 which comprise the Income |
Statement, Balance Sheet and the related notes from the company's accounting records and from information and |
explanations you have given us. |
As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance. |
This report is made solely to the director of Pin Cushion Interiors Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Pin Cushion Interiors Limited and state those matters that we have agreed to state to the director of Pin Cushion Interiors Limited in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report. |
It is your duty to ensure that Pin Cushion Interiors Limited 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 profit of Pin Cushion Interiors Limited. You consider that Pin Cushion Interiors Limited 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 Pin Cushion Interiors Limited. 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. |
Chartered Accountants |
29 Portland Road |
Kilmarnock |
KA1 2BY |