Padstow Sea Sand Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09060054 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2018

FOR

PADSTOW SEA SAND LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J A H Prynn

M E Prynn

REGISTERED OFFICE:

The Lodge

St Eval Airfield Farm

St Eval

Wadebridge

Cornwall

PL27 7UN

REGISTERED NUMBER:

09060054 (England and Wales)

ACCOUNTANTS:

Whitakers

Chartered Accountants

Bryndon House

5/7 Berry Road

Newquay

Cornwall

TR7 1AD

FIXED ASSETS

Tangible assets

4

130,861

103,051

CURRENT ASSETS

Debtors

5

45,143

24,886

Cash at bank

11,674

7,540

56,817

32,426

CREDITORS

Amounts falling due within one year

6

117,744

132,084

NET CURRENT LIABILITIES

(60,927

)

(99,658

)

TOTAL ASSETS LESS CURRENT LIABILITIES

69,934

3,393

CREDITORS

Amounts falling due after more than one year

7

(42,345

)

(27,647

)

PROVISIONS FOR LIABILITIES

(9,867

)

-

NET ASSETS/(LIABILITIES)

17,722

(24,254

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

17,720

(24,256

)

SHAREHOLDERS' FUNDS

17,722

(24,254

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Board of Directors on 22 February 2019 and were signed on its behalf by:

J A H Prynn - Director

M E Prynn - Director

1.	STATUTORY INFORMATION

Padstow Sea Sand Ltd 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold

-

Straight line over 25 years

Plant and machinery

-

15% on reducing balance

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.

Hire purchase and leasing commitments

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 7 (2017 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Short

Plant and

leasehold

machinery

Totals

£

£

£

COST

At 1 June 2017

56,577

60,000

116,577

Additions

1,214

67,945

69,159

Disposals

-

(20,000

)

(20,000

)

At 31 May 2018

57,791

107,945

165,736

DEPRECIATION

At 1 June 2017

4,526

9,000

13,526

Charge for year

2,263

22,086

24,349

Eliminated on disposal

-

(3,000

)

(3,000

)

At 31 May 2018

6,789

28,086

34,875

NET BOOK VALUE

At 31 May 2018

51,002

79,859

130,861

At 31 May 2017

52,051

51,000

103,051

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.18

31.5.17

£

£

Trade debtors

45,143

24,886

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.18

31.5.17

£

£

Hire purchase contracts

24,528

11,976

Trade creditors

28,828

71,424

Social security and other taxes

39,125

16,732

Directors' current accounts

21,163

28,602

Accrued expenses

4,100

3,350

117,744

132,084

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.5.18

31.5.17

£

£

Hire purchase contracts

42,345

27,647

8.	RELATED PARTY DISCLOSURES

The company is controlled by its director Mr JAH Prynn, by virtue of the fact that he owns 100% of the

company's ordinary share capital.