PG Commercial Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08283784 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2018

FOR

PG COMMERCIAL LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Certified Accountants' Report

7

DIRECTOR:

J Valender

REGISTERED OFFICE:

14 Long Grove Close

Broxbourne

Hertfordshire

EN10 7NP

BUSINESS ADDRESS:

Studio 2

102a Albion Drive

London

E8 4LY

REGISTERED NUMBER:

08283784 (England and Wales)

ACCOUNTANTS:

MTI Accounting Solutions Limited

14 Long Grove Close

Broxbourne

Hertfordshire

EN10 7NP

FIXED ASSETS

Intangible assets

4

1,088

1,632

Tangible assets

5

105,088

53,849

106,176

55,481

CURRENT ASSETS

Debtors

6

468,869

446,007

Cash at bank and in hand

30,011

29,491

498,880

475,498

CREDITORS

Amounts falling due within one year

7

363,002

469,511

NET CURRENT ASSETS

135,878

5,987

TOTAL ASSETS LESS CURRENT LIABILITIES

242,054

61,468

PROVISIONS FOR LIABILITIES

18,450

10,409

NET ASSETS

223,604

51,059

CAPITAL AND RESERVES

Called up share capital

52

52

Capital redemption reserve

50

50

Retained earnings

223,502

50,957

SHAREHOLDERS' FUNDS

223,604

51,059

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 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 21 March 2019 and were signed by:

J Valender - Director

1.	STATUTORY INFORMATION

PG Commercial Limited 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being 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.

Land and buildings

-

in accordance with the property

Plant and machinery etc

-

20% on cost

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.

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 7 (2017 - 9 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 December 2017

and 30 November 2018

3,000

AMORTISATION

At 1 December 2017

1,368

Charge for year

544

At 30 November 2018

1,912

NET BOOK VALUE

At 30 November 2018

1,088

At 30 November 2017

1,632

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 December 2017

-

162,696

162,696

Additions

9,981

98,843

108,824

Disposals

-

(52,307

)

(52,307

)

At 30 November 2018

9,981

209,232

219,213

DEPRECIATION

At 1 December 2017

-

108,847

108,847

Charge for year

1,996

36,152

38,148

Eliminated on disposal

-

(32,870

)

(32,870

)

At 30 November 2018

1,996

112,129

114,125

NET BOOK VALUE

At 30 November 2018

7,985

97,103

105,088

At 30 November 2017

-

53,849

53,849

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

334,912

310,142

Other debtors

133,957

135,865

468,869

446,007

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

108,088

214,433

Taxation and social security

78,286

94,014

Other creditors

176,628

161,064

363,002

469,511

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2018

2017

£

£

Within one year

89,000

-

Between one and five years

341,666

-

430,666

-

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 PG Commercial Limited for the year ended 30 November 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 the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of PG Commercial Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of PG Commercial Limited and state those matters that we have agreed to state to the director of PG Commercial Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. 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 PG Commercial 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 PG Commercial Limited. You consider that PG Commercial 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 PG Commercial 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.

MTI Accounting Solutions Limited

14 Long Grove Close

Broxbourne

Hertfordshire

EN10 7NP

21 March 2019