Pixieland (South West) Limited Accounts
Pixieland (South West) Limited Accounts
Pixieland (South West) Limited FILLETED ACCOUNTS COVER |
Company No. 04541081 | |||||||||
Pixieland (South West) Limited BALANCE SHEET REGISTRAR |
at | ||||||||||
Company No. | Notes | 2018 | 2017 | |||||||
£ | £ | |||||||||
Fixed assets | ||||||||||
Intangible assets | 2 | |||||||||
Tangible assets | 3 | |||||||||
Current assets | ||||||||||
Stocks | 4 | |||||||||
Debtors | 5 | |||||||||
Investments | 6 | |||||||||
Cash at bank and in hand | ||||||||||
Creditors: Amount falling due within one year | 7 | ( | ( | |||||||
Net current assets | ||||||||||
Total assets less current liabilities | ||||||||||
Provisions for liabilities | ||||||||||
Deferred taxation | 8 | ( | ( | |||||||
Net assets | ||||||||||
Capital and reserves | ||||||||||
Called up share capital | ||||||||||
Profit and loss account | 9 | |||||||||
Total equity | ||||||||||
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account. | ||||||||||
Approved by the board on 19 February 2019 | ||||||||||
And signed on its behalf by: | ||||||||||
C. Francis McDonough | ||||||||||
Director |
Pixieland (South West) Limited NOTES TO THE ACCOUNTS REGISTRAR |
for the year ended 30 September 2018 | ||||||||||||||
1 | Accounting policies | |||||||||||||
Basis of preparation | ||||||||||||||
Turnover | ||||||||||||||
Revenue from the sale of goods is recognised when all the following conditions are satisfied: • the Company has transferred to the buyer the significant risks and rewards of ownership of the goods; • the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; • the amount of revenue can be measured reliably; • it is probable that the economic benefits associated with the transaction will flow to the Company; and • the costs incurred or to be incurred in respect of the transaction can be measured reliably. Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed. | ||||||||||||||
Intangible fixed assets | ||||||||||||||
Taxation | ||||||||||||||
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively. | ||||||||||||||
Tangible fixed assets and depreciation | ||||||||||||||
At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss. | ||||||||||||||
Leasehold land and buildings | ||||||||||||||
Furniture, fittings and equipment | ||||||||||||||
Investments | ||||||||||||||
Stocks | ||||||||||||||
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of inventories recognised as an expense in the period in which the reversal occurs. | ||||||||||||||
Trade and other debtors | ||||||||||||||
Trade and other creditors | ||||||||||||||
Pensions | ||||||||||||||
Provisions | ||||||||||||||
Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties. When payments are eventually made, they are charged to the provision carried in the balance sheet. | ||||||||||||||
2 | Intangible fixed assets | |||||||||||||
Goodwill | Total | |||||||||||||
£ | £ | |||||||||||||
Cost | ||||||||||||||
At 1 October 2017 | ||||||||||||||
At 30 September 2018 | ||||||||||||||
Amortisation and impairment | ||||||||||||||
At 1 October 2017 | ||||||||||||||
At 30 September 2018 | ||||||||||||||
Net book values | ||||||||||||||
At 30 September 2018 | ||||||||||||||
At 30 September 2017 | ||||||||||||||
3 | Tangible fixed assets | |||||||||||||
Land and buildings | Fixtures, fittings and equipment | Total | ||||||||||||
£ | £ | £ | ||||||||||||
Cost or revaluation | ||||||||||||||
At 1 October 2017 | ||||||||||||||
Additions | ||||||||||||||
At 30 September 2018 | ||||||||||||||
Depreciation | ||||||||||||||
At 1 October 2017 | ||||||||||||||
Charge for the year | ||||||||||||||
At 30 September 2018 | ||||||||||||||
Net book values | ||||||||||||||
At 30 September 2018 | ||||||||||||||
At 30 September 2017 | ||||||||||||||
4 | Stocks | |||||||||||||
2018 | 2017 | |||||||||||||
£ | £ | |||||||||||||
Finished goods | ||||||||||||||
5 | Debtors | |||||||||||||
2018 | 2017 | |||||||||||||
£ | £ | |||||||||||||
Amounts owed by group undertakings | ||||||||||||||
Corporation tax recoverable | ||||||||||||||
Loans to directors | ||||||||||||||
Other debtors | ||||||||||||||
Prepayments and accrued income | ||||||||||||||
6 | Current asset investments | |||||||||||||
2018 | 2017 | |||||||||||||
£ | £ | |||||||||||||
Unlisted investments | ||||||||||||||
Investments in subsidiary, associates and jointly controlled entities are included at fair value. The share of profit or loss from the Forrest Road LLP for its accounting period ending within the accounting period of the company is included in the accounts of that period of the company as a value adjustment. | ||||||||||||||
7 | Creditors: | |||||||||||||
amounts falling due within one year | ||||||||||||||
2018 | 2017 | |||||||||||||
£ | £ | |||||||||||||
Bank loans and overdrafts | ||||||||||||||
Corporation tax | ||||||||||||||
Other taxes and social security | ||||||||||||||
Loans from directors | ||||||||||||||
Other creditors | ||||||||||||||
Accruals and deferred income | ||||||||||||||
8 | Provisions for liabilities | |||||||||||||
Deferred taxation | ||||||||||||||
Accelerated Capital Allowances, Losses and Other Timing Differences | Total | |||||||||||||
£ | £ | |||||||||||||
At 1 October 2017 | 18,006 | |||||||||||||
Charge to the profit and loss account for the period | (5,528) | ( | ||||||||||||
At 30 September 2018 | 12,478 | |||||||||||||
2018 | 2017 | |||||||||||||
£ | £ | |||||||||||||
Accelerated capital allowances | ||||||||||||||
9 | Reserves | |||||||||||||
10 | Dividends | |||||||||||||
2018 | 2017 | |||||||||||||
£ | £ | |||||||||||||
Dividends for the period: | ||||||||||||||
Dividends paid in the period | 51,000 | 100 | ||||||||||||
Dividends by type: | ||||||||||||||
Equity dividends | ||||||||||||||
51,000 | 100 | |||||||||||||
11 | Advances and credits to directors | |||||||||||||
Included within Other debtors are the following loans to directors: | ||||||||||||||
Director | Description | At 1 October 2017 | Advanced | Repaid | At 30 September 2018 | |||||||||
£ | £ | £ | £ | |||||||||||
( | ||||||||||||||
( | ||||||||||||||
12 | Related party disclosures | |||||||||||||
2018 | 2017 | |||||||||||||
Transactions with related parties | £ | £ | ||||||||||||
Name of related party | ||||||||||||||
Description of relationship between the parties | Director | |||||||||||||
Description of transaction and general amounts involved | Directors loan account | |||||||||||||
Amount due from/(to) the related party | (2,816) | 235,646 | ||||||||||||
Provision for doubtful debts due from the related party | - | - | ||||||||||||
Amounts written off in the period in respect of debts from/(to) the related party | - | - | ||||||||||||
Controlling party | ||||||||||||||
Immediate controlling party | ||||||||||||||
13 | Additional information | |||||||||||||
Its registered number is: | ||||||||||||||
Its registered office is: | ||||||||||||||