Puzzel Ltd - Accounts to registrar (filleted) - small 18.2
Puzzel Ltd - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| AUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2018 |
| FOR |
| PUZZEL LTD |
| PUZZEL LTD (REGISTERED NUMBER: 04124967) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the Year Ended 31 December 2018 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| PUZZEL LTD |
| COMPANY INFORMATION |
| for the Year Ended 31 December 2018 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Statutory Auditors |
| Herschel House |
| 58 Herschel Street |
| Slough |
| Berkshire |
| SL1 1PG |
| PUZZEL LTD (REGISTERED NUMBER: 04124967) |
| BALANCE SHEET |
| 31 December 2018 |
| 31.12.18 | 31.12.17 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 3 |
| CURRENT ASSETS |
| Debtors | 4 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 5 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital | 8 |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors on |
| PUZZEL LTD (REGISTERED NUMBER: 04124967) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the Year Ended 31 December 2018 |
| 1. | STATUTORY INFORMATION |
| Puzzel Ltd is a |
| number and registered office address can be found on the Company Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Related party exemption |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The |
| Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party |
| transactions with wholly owned subsidiaries within the group. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
| value added tax and other sales taxes. |
| Tangible fixed assets |
| Plant and machinery etc | - |
| Financial instruments |
| Basic Financial Instruments are measured at amortised cost. The company does not have any Other Financial |
| Instruments. |
| 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. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
| balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at |
| the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| PUZZEL LTD (REGISTERED NUMBER: 04124967) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 December 2018 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| 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. |
| 3. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1 January 2018 |
| Additions |
| At 31 December 2018 |
| DEPRECIATION |
| At 1 January 2018 |
| Charge for year |
| At 31 December 2018 |
| NET BOOK VALUE |
| At 31 December 2018 |
| At 31 December 2017 |
| 4. | DEBTORS |
| 31.12.18 | 31.12.17 |
| £ | £ |
| Amounts falling due within one year: |
| Trade debtors |
| Other debtors |
| Amounts falling due after more than one year: |
| Other debtors & prepayments |
| Aggregate amounts |
| PUZZEL LTD (REGISTERED NUMBER: 04124967) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 December 2018 |
| 5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.12.18 | 31.12.17 |
| £ | £ |
| Trade creditors |
| Amounts owed to group undertakings |
| Taxation and social security |
| Other creditors & accruals |
| 6. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 31.12.18 | 31.12.17 |
| £ | £ |
| Within one year |
| Between one and five years |
| 7. | SECURED DEBTS |
| During the year, Sparebank 1 SR-Bank ASA was granted a fixed and floating charge with negative pledge over |
| all the assets of the company. |
| 8. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.12.18 | 31.12.17 |
| value: | £ | £ |
| Ordinary | £1 | 3,080,694 | 3,080,694 |
| Ordinary shares carry full and equal rights to participate in voting in all circumstances, in dividends and in |
| capital distributions, whether on a winding up or otherwise. The shares are not redeemable. |
| 9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| "Use of our report |
| This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the |
| Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members |
| those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest |
| extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the |
| company's members as a body, for our audit work, for this report, or for the opinions we have formed." |
| 10. | ULTIMATE CONTROLLING PARTY |
| In the opinion of the directors there is no ultimate controlling party. |
| PUZZEL LTD (REGISTERED NUMBER: 04124967) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 December 2018 |
| 11. | DEFERRED TAX |
| A deferred tax asset has been recognised in respect of unrelieved tax losses, amounting to £97,920 (2017: |
| £63,169). The recognition of the asset is appropriate because the entity is expanding their operations and has |
| re-entered a growth phase. A period of 12 months has been assessed, being the period that can be reliably |
| estimated, and a profit is expected. |
| In addition the company has further unutilised losses of £2,577,495 on which a deferred tax asset of £438,174 |
| could be recognised, but due to uncertainty as to the timing of the recovery it has not been included in these |
| financial statements. |
| 12. | FIRST YEAR ADOPTION |
| The company adopted FRS 102 for the accounting year 31 December 2018. There were no adjustments arising at |
| the transition date or at the end of the comparative period, therefore there is no difference between equity under |
| the previous financial reporting framework and equity under FRS 102. |