Caseware UK (AP4) 2021.0.152 2021.0.152 2021-07-312021-07-312022-05-09No description of principal activity12020-08-01false1truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10263148 2020-08-01 2021-07-31 10263148 2019-08-01 2020-07-31 10263148 2021-07-31 10263148 2020-07-31 10263148 c:Director1 2020-08-01 2021-07-31 10263148 d:MotorVehicles 2020-08-01 2021-07-31 10263148 d:MotorVehicles 2021-07-31 10263148 d:MotorVehicles 2020-07-31 10263148 d:MotorVehicles d:OwnedOrFreeholdAssets 2020-08-01 2021-07-31 10263148 d:FurnitureFittings 2020-08-01 2021-07-31 10263148 d:FurnitureFittings 2021-07-31 10263148 d:FurnitureFittings 2020-07-31 10263148 d:FurnitureFittings d:OwnedOrFreeholdAssets 2020-08-01 2021-07-31 10263148 d:OfficeEquipment 2020-08-01 2021-07-31 10263148 d:OfficeEquipment 2021-07-31 10263148 d:OfficeEquipment 2020-07-31 10263148 d:OfficeEquipment d:OwnedOrFreeholdAssets 2020-08-01 2021-07-31 10263148 d:OwnedOrFreeholdAssets 2020-08-01 2021-07-31 10263148 d:CurrentFinancialInstruments 2021-07-31 10263148 d:CurrentFinancialInstruments 2020-07-31 10263148 d:Non-currentFinancialInstruments 2021-07-31 10263148 d:Non-currentFinancialInstruments 2020-07-31 10263148 d:CurrentFinancialInstruments d:WithinOneYear 2021-07-31 10263148 d:CurrentFinancialInstruments d:WithinOneYear 2020-07-31 10263148 d:Non-currentFinancialInstruments d:AfterOneYear 2021-07-31 10263148 d:Non-currentFinancialInstruments d:AfterOneYear 2020-07-31 10263148 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2021-07-31 10263148 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2020-07-31 10263148 d:ShareCapital 2021-07-31 10263148 d:ShareCapital 2020-07-31 10263148 d:RetainedEarningsAccumulatedLosses 2021-07-31 10263148 d:RetainedEarningsAccumulatedLosses 2020-07-31 10263148 c:FRS102 2020-08-01 2021-07-31 10263148 c:AuditExempt-NoAccountantsReport 2020-08-01 2021-07-31 10263148 c:FullAccounts 2020-08-01 2021-07-31 10263148 c:PrivateLimitedCompanyLtd 2020-08-01 2021-07-31 10263148 2 2020-08-01 2021-07-31 iso4217:GBP xbrli:pure

Registered number: 10263148









PUBLIC ENEMY CUSTOMS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2021

 
PUBLIC ENEMY CUSTOMS LIMITED
REGISTERED NUMBER: 10263148

BALANCE SHEET
AS AT 31 JULY 2021

2021
2020
Note
£
£

Fixed assets
  

Tangible assets
 4 
3,931
108

  
3,931
108

Current assets
  

Stocks
  
21,213
-

Debtors: amounts falling due within one year
 5 
9,762
10,530

Cash at bank and in hand
 6 
5,572
26,136

  
36,547
36,666

Creditors: amounts falling due within one year
 7 
(64,240)
(19,241)

Net current (liabilities)/assets
  
 
 
(27,693)
 
 
17,425

Total assets less current liabilities
  
(23,762)
17,533

Creditors: amounts falling due after more than one year
 8 
(45,000)
(45,000)

  

Net liabilities
  
(68,762)
(27,467)


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
(68,763)
(27,468)

  
(68,762)
(27,467)


Page 1

 
PUBLIC ENEMY CUSTOMS LIMITED
REGISTERED NUMBER: 10263148
    
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2021

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 9 May 2022.




Mason Haynes
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
PUBLIC ENEMY CUSTOMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2021

1.


General information

Public Enemy Customs Limited is a private company limited by shares, incorporated in England. The registered office address is 64 New Cavendish Street, London, W1G 8TB. 
The functional currency used in the preparation of the financial statements is GBP Sterling. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

 
2.2

Going concern

In assessing the ability of the company to operate as a going concern, management have evaluated current and forecasted operational results, and the solvency of the company. The director has obtained assurances from the creditors and shareholders to continue to provide adequate funds to meet its obligations, and not to demand repayment of any funds due to them, until the company is in a financial position to do so. As a result, the director considers it appropriate to prepare the financial statements on a going concern basis.
Potential sources of uncertainty noted by the director includes the COVID-19 pandemic. However, at the date of this report it is not possible to reliably determine the effects that this will have on the company.
 
Accordingly the director has continued to prepare the financial statements on the going concern basis.                                                                                                                                                        

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%
Straight line
Office equipment
-
20%
Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 3

 
PUBLIC ENEMY CUSTOMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2021

2.Accounting policies (continued)

 
2.4

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a SELECT OR ENTER METHOD basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Page 4

 
PUBLIC ENEMY CUSTOMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2021

2.Accounting policies (continued)

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.9

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.10

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.11

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2020 - 1).

Page 5

 
PUBLIC ENEMY CUSTOMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2021

4.


Tangible fixed assets





Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 August 2020
700
-
540
1,240


Additions
-
5,100
-
5,100



At 31 July 2021
700
5,100
540
6,340



Depreciation


At 1 August 2020
700
-
432
1,132


Charge for the year on owned assets
-
1,169
108
1,277



At 31 July 2021
700
1,169
540
2,409



Net book value



At 31 July 2021
-
3,931
-
3,931


5.


Debtors

2021
2020
£
£


Trade debtors
3,315
-

Other debtors
6,447
10,405

Prepayments and accrued income
-
125

9,762
10,530



6.


Cash and cash equivalents

2021
2020
£
£

Cash at bank and in hand
5,572
26,136

5,572
26,136


Page 6

 
PUBLIC ENEMY CUSTOMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2021

7.


Creditors: Amounts falling due within one year

2021
2020
£
£

Other creditors
57,132
15,633

Accruals and deferred income
7,108
3,608

64,240
19,241



8.


Creditors: Amounts falling due after more than one year

2021
2020
£
£

Bank loans
45,000
45,000

45,000
45,000



9.


Loans


Analysis of the maturity of loans is given below:


2021
2020
£
£


Amounts falling due 1-2 years

Bank loans
45,000
45,000


45,000
45,000



45,000
45,000


 
Page 7