PStech Engineering Ltd |
Notes to the Accounts |
for the period from 27 March 2017 to 27 September 2018 |
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1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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Turnover |
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Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). |
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. |
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2 |
Creditors: amounts falling due within one year |
2018 |
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£ |
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Bank loans and overdrafts |
2,737 |
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Trade creditors |
297 |
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Taxation and social security costs |
10,936 |
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Other creditors |
4,561 |
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18,531 |
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3 |
Other information |
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PStech Engineering Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
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The Barn 173 Church Rd |
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Northfield |
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Birmingham |
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West Midlands |
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B31 2LX |