PPFS GRP Company Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08915445 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 September 2018

for

PPFS GRP Company Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

A Hobbs

J A Hobbs

J.P. Hobbs

REGISTERED OFFICE:

Suite 3 Warren House

10-20 Main Road

Hockley

Essex

SS5 4QS

REGISTERED NUMBER:

08915445 (England and Wales)

ACCOUNTANTS:

Anser Solutions!

Chartered Accountants

Suite 3 Warren House

10-20 Main Road

Hockley

Essex

SS5 4QS

CURRENT ASSETS

Stocks

68,712

70,210

Debtors

4

447,645

747,338

516,357

817,548

CREDITORS

Amounts falling due within one year

5

432,651

668,058

NET CURRENT ASSETS

83,706

149,490

TOTAL ASSETS LESS CURRENT LIABILITIES

83,706

149,490

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

7

83,506

149,290

83,706

149,490

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 31 May 2019 and were signed on its behalf by:

A Hobbs - Director

1.	STATUTORY INFORMATION

PPFS GRP Company 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 the value of sales to customers, net of discounts, allowances, volume and promotional

rebates and other payments to customers and excludes VAT. Sale of goods are recognised when the company

has delivered product to the customer, the customer has accepted the products and collectability of the related

receivable is reasonably assured.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

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.

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.

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 19 (2017 - 34 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.18

30.9.17

£

£

Trade debtors

339,337

696,188

Other debtors

108,308

51,150

447,645

747,338

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.18

30.9.17

£

£

Bank loans and overdrafts

72,093

28,876

Trade creditors

195,184

379,651

Amounts owed to associates

-

9,809

Taxation and social security

136,963

190,350

Other creditors

28,411

59,372

432,651

668,058

6.	SECURED DEBTS

The following secured debts are included within creditors:

30.9.18

30.9.17

£

£

Bank overdrafts

72,093

28,876

The bank overdraft is secured by way of a fixed & floating charge over the company's assets.

7.

RESERVES

Retained

earnings

£

At 1 October 2017

149,290

Profit for the year

86,480

Dividends

(152,264

)

At 30 September 2018

83,506