P & V United Ltd - Accounts to registrar (filleted) - small 18.2

P & V United Ltd - Accounts to registrar (filleted) - small 18.2

P & V UNITED LTD - Company Information

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REGISTERED NUMBER: SC339264 (Scotland)




















P & V United Ltd

Unaudited Financial Statements

for the Year Ended 31 May 2018





Whitelaw Wells
9 Ainslie Place
Edinburgh
Midlothian
EH3 6AT








P & V United Ltd (Registered number: SC339264)






Contents of the Financial Statements
for the Year Ended 31 May 2018




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


P & V United Ltd

Company Information
for the Year Ended 31 May 2018







DIRECTOR: Mr P K Pham



SECRETARY: Whitelaw Wells



REGISTERED OFFICE: 9 Ainslie Place
Edinburgh
Midlothian
EH3 6AT



REGISTERED NUMBER: SC339264 (Scotland)



ACCOUNTANTS: Whitelaw Wells
9 Ainslie Place
Edinburgh
Midlothian
EH3 6AT



BANKERS: The Royal Bank of Scotland plc
Edinburgh West End Office
142-144 Princes Street
Edinburgh
EH2 4EQ
Page 1
P & V United Ltd (Registered number: SC339264)

Balance Sheet
31 May 2018

2018 2017
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 2,314 5,991
2,314 5,991

CURRENT ASSETS
Stocks 8,000 8,000
Debtors 6 28,000 2,272
Cash at bank and in hand 97,564 119,065
133,564 129,337
CREDITORS
Amounts falling due within one year 7 131,892 126,545
NET CURRENT ASSETS 1,672 2,792
TOTAL ASSETS LESS CURRENT
LIABILITIES
3,986
8,783

PROVISIONS FOR LIABILITIES 440 1,138
NET ASSETS 3,546 7,645

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 3,446 7,545
SHAREHOLDERS' FUNDS 3,546 7,645

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 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.

The notes form part of these financial statements

Page 2 continued...
P & V United Ltd (Registered number: SC339264)

Balance Sheet - continued
31 May 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 27 February 2019 and were signed by:





Mr P K Pham - Director


The notes form part of these financial statements

Page 3
P & V United Ltd (Registered number: SC339264)

Notes to the Financial Statements
for the Year Ended 31 May 2018

1. STATUTORY INFORMATION

P & V United Ltd is a private company, limited by shares , registered in Scotland. 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 and revenue recognition
Turnover, which represents net invoiced sales of goods, is recognised at the point when a meal is
served or delivered to the customer.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2008, has been
amortised evenly over its estimated useful life of five years.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost and 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for
obsolete and slow moving items.

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial
instruments. Basic financial instruments are initially recognised at transaction value and
subsequently measured at their settlement value.

All loans with related parties are all repayable on demand.

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.

Page 4 continued...
P & V United Ltd (Registered number: SC339264)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2018

2. ACCOUNTING POLICIES - continued

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the
company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2017 - 17 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2017
and 31 May 2018 65,000
AMORTISATION
At 1 June 2017
and 31 May 2018 65,000
NET BOOK VALUE
At 31 May 2018 -
At 31 May 2017 -

Page 5 continued...
P & V United Ltd (Registered number: SC339264)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2018

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2017 30,496
Additions 2,635
At 31 May 2018 33,131
DEPRECIATION
At 1 June 2017 24,505
Charge for year 6,312
At 31 May 2018 30,817
NET BOOK VALUE
At 31 May 2018 2,314
At 31 May 2017 5,991

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Amounts owed by participating interests 28,000 -
Other debtors - 2,272
28,000 2,272

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Trade creditors 52,954 39,342
Taxation and social security 54,712 47,358
Other creditors 24,226 39,845
131,892 126,545

The director's current account is unsecured, interest free and has no fixed term of repayment.

Page 6