Panurgy Performance Development Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08142726 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2018

FOR

PANURGY PERFORMANCE DEVELOPMENT LTD

Page

Balance sheet

1

Notes to the financial statements

2

Fixed assets

Tangible assets

4

1,972

1,959

Current assets

Debtors

5

2,699

7,757

Cash at bank

2,140

589

4,839

8,346

Creditors

Amounts falling due within one year

6

5,650

7,009

Net current (liabilities)/assets

(811

)

1,337

Total assets less current liabilities

1,161

3,296

Provisions for liabilities

7

375

372

Net assets

786

2,924

Capital and reserves

Called up share capital

8

1

1

Retained earnings

785

2,923

Shareholders' funds

786

2,924

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 Statement of comprehensive income has not been delivered.

The financial statements were approved by the director on 10 April 2019 and were signed by:

Mr S G Eaton - Director

1.	Statutory information

Panurgy Performance Development Ltd is a private company, limited by shares, registered in England and Wales. The

company's registered number is 08142726. The registered office is 7 & 8 Church Street, Wimborne, Dorset, BH21 1JH and

business address is The Rookery, Newton Road, Sturminster Marshall, Wimborne, Dorset, BH21 4BT.

2.	Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents amounts receivable, excluding value added tax, in respect of services provided in the ordinary course

of business. Turnover is recognised as soon as the service has been provided to the customer.

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

-

25% on reducing balance

Computer equipment

-

25% 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 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.

Financial instruments

Basic financial instruments are initially recognised at transaction price and accounted for according to the substance of the

contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract

that evidences a residual interest in the assets of the company, after deducting all liabilities.

At each balance sheet date, financial instruments are measured at amortised cost using the effective interest method. Any

losses arising from impairment are recognised in the profit and loss account in the period to which they relate.

3.	Employees and directors

The average number of employees during the year was 1 (2017 - 1 ) .

4.	Tangible fixed assets

Plant and

Computer

machinery

equipment

Totals

£

£

£

Cost

At 1 August 2017

1,800

3,940

5,740

Additions

510

160

670

At 31 July 2018

2,310

4,100

6,410

Depreciation

At 1 August 2017

1,230

2,551

3,781

Charge for year

270

387

657

At 31 July 2018

1,500

2,938

4,438

Net book value

At 31 July 2018

810

1,162

1,972

At 31 July 2017

570

1,389

1,959

5.

Debtors: amounts falling due within one year

2018

2017

£

£

Trade debtors

2,210

7,196

Tax

-

561

Social security and other tax

489

-

2,699

7,757

6.

Creditors: amounts falling due within one year

2018

2017

£

£

Tax

3,484

4,261

Social security and other taxes

-

293

Directors' current accounts

727

1,015

Accruals

1,439

1,440

5,650

7,009

7.	Provisions for liabilities

2018

2017

£

£

Deferred tax

375

372

Deferred

tax

£

Balance at 1 August 2017

372

Provided during year

3

Balance at 31 July 2018

375

8.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

1

Ordinary

£1.00

1

1

9.	Ultimate controlling party

The company is controlled by the director, Mr S Eaton, who owns 100% of the issued share capital.