Picselica Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08635854 (England and Wales)

Picselica Ltd

Unaudited Financial Statements

for the Year Ended 31 August 2018

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Dr L Ap Cenydd

Dr C J Headleand

Dr S R Pop

Dr W J Teahan

REGISTERED OFFICE:

Irish Square

Upper Denbigh Road

St Asaph

Denbighshire

LL17 0RN

REGISTERED NUMBER:

08635854 (England and Wales)

ACCOUNTANTS:

Salisbury & Company

Chartered Accountants

Irish Square

Upper Denbigh Road

St Asaph

Denbighshire

LL17 0RN

FIXED ASSETS

Tangible assets

4

14,831

8,799

CURRENT ASSETS

Cash at bank

46,849

121,929

CREDITORS

Amounts falling due within one year

5

6,354

80,859

NET CURRENT ASSETS

40,495

41,070

TOTAL ASSETS LESS CURRENT LIABILITIES

55,326

49,869

PROVISIONS FOR LIABILITIES

2,817

1,722

NET ASSETS

52,509

48,147

CAPITAL AND RESERVES

Called up share capital

85

85

Retained earnings

52,424

48,062

SHAREHOLDERS' FUNDS

52,509

48,147

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors on 16 May 2019 and were signed on its behalf by:

Dr C J Headleand - Director

1.	STATUTORY INFORMATION

Picselica Ltd 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 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 sales invoiced in the year.

The company is not VAT registered.

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 etc

-

33% on cost and 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

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.

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 4 (2017 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 September 2017

13,390

Additions

11,143

At 31 August 2018

24,533

DEPRECIATION

At 1 September 2017

4,591

Charge for year

5,111

At 31 August 2018

9,702

NET BOOK VALUE

At 31 August 2018

14,831

At 31 August 2017

8,799

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

-

133

Taxation and social security

3,349

78,022

Other creditors

3,005

2,704

6,354

80,859

6.	ULTIMATE CONTROLLING PARTY

No one party has ultimate control over the company.