Peak District Online Limited - Period Ending 2018-10-31
Peak District Online Limited - Period Ending 2018-10-31
Registration number:
Peak District Online Limited
for the Year Ended 31 October 2018
Chartered Certified Accountants
2 Western Street
Barnsley
South Yorkshire
S70 2BP
Peak District Online Limited
Contents
Company Information |
|
Balance Sheet |
|
Statement of Changes in Equity |
|
Notes to the Financial Statements |
Peak District Online Limited
Company Information
Directors |
Mr James Dobson Mr Steve Wake |
Company secretary |
Mrs Joann Louise Dobson |
Registered office |
|
Accountants |
|
Page 1 |
Peak District Online Limited
(Registration number: 05509614)
Balance Sheet as at 31 October 2018
Note |
2018 |
2017 |
|
Fixed assets |
|||
Tangible assets |
|
|
|
Current assets |
|||
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current liabilities |
( |
( |
|
Net liabilities |
( |
( |
|
Capital and reserves |
|||
Called up share capital |
|
|
|
Profit and loss account |
( |
( |
|
Total equity |
( |
( |
For the financial year ending 31 October 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
|
• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
.........................................
Company secretary
Page 2 |
Peak District Online Limited
Statement of Changes in Equity for the Year Ended 31 October 2018
Share capital |
Profit and loss account |
Total |
|
At 1 November 2017 |
|
( |
( |
Profit for the year |
- |
|
|
Total comprehensive income |
- |
|
|
At 31 October 2018 |
|
( |
( |
Share capital |
Profit and loss account |
Total |
|
At 1 November 2016 |
|
( |
( |
Loss for the year |
- |
( |
( |
Total comprehensive income |
- |
( |
( |
At 31 October 2017 |
|
( |
( |
Page 3 |
Peak District Online Limited
Notes to the Financial Statements for the Year Ended 31 October 2018
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Page 4 |
Peak District Online Limited
Notes to the Financial Statements for the Year Ended 31 October 2018
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Plant and machinery etc |
- 25% on reducing balance |
Leasing and hire purchase contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account on a straight line basis.
Tangible assets |
Furniture, fittings and equipment |
Other tangible assets |
Total |
|
Cost or valuation |
|||
At 1 November 2017 |
|
|
|
At 31 October 2018 |
|
|
|
Depreciation |
|||
At 1 November 2017 |
|
|
|
Charge for the year |
|
|
|
At 31 October 2018 |
|
|
|
Carrying amount |
|||
At 31 October 2018 |
|
|
|
At 31 October 2017 |
|
|
|
Page 5 |
Peak District Online Limited
Notes to the Financial Statements for the Year Ended 31 October 2018
Debtors |
2018 |
2017 |
|
Trade debtors |
|
|
Other debtors |
|
|
|
|
Creditors |
Creditors: amounts falling due within one year
2018 |
2017 |
|
Due within one year |
||
Trade creditors |
|
|
Taxation and social security |
|
|
Accruals and deferred income |
|
|
Other creditors |
|
|
|
|
Share capital |
Allotted, called up and fully paid shares
2018 |
2017 |
|||
No. |
£ |
No. |
£ |
|
|
|
4 |
|
4 |
Related party transactions |
Summary of transactions with other related parties
2018 |
2017 |
|
Villager Jim Limited |
18,050 |
18,260 |
Peak District Ventures Limited |
11,200 |
14,100 |
Page 6 |