Pocketful Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04256084 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2019

FOR

POCKETFUL LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr A J Blackwell

Mr S A Blackwell

Mrs J E Blackwell

Mrs J H Blackwell

SECRETARY:

Mr A J Blackwell

REGISTERED OFFICE:

10 Market Square

Lytham

Lancashire

FY8 5LW

REGISTERED NUMBER:

04256084 (England and Wales)

ACCOUNTANTS:

Whitehead & Howarth

327 Clifton Drive South

Lytham St Annes

Lancashire

FY8 1HN

FIXED ASSETS

Tangible assets

3

300,050

300,058

CURRENT ASSETS

Debtors

4

1,106

1,219

Cash at bank

4,201

10,831

5,307

12,050

CREDITORS

Amounts falling due within one year

5

115,888

122,666

NET CURRENT LIABILITIES

(110,581

)

(110,616

)

TOTAL ASSETS LESS CURRENT LIABILITIES

189,469

189,442

PROVISIONS FOR LIABILITIES

23,336

23,336

NET ASSETS

166,133

166,106

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

6

166,033

166,006

SHAREHOLDERS' FUNDS

166,133

166,106

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2019 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 21 May 2019 and were signed on its behalf by:

Mr A J Blackwell - Director

1.	STATUTORY INFORMATION

Pocketful Limited 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 as modified by the revaluation of certain assets.

Turnover

Turnover comprises rents receivable in respect of the company's freehold interests in land and buildings.

Tangible fixed assets and depreciation

Depreciation has been provided at the rate of 15% on a reducing balance basis in order to write down the cost of

fixtures and fittings over their expected useful lives.

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.

Investment properties

In accordance with FRS 102 Section 1A, the company's freehold properties are held for long term investment

and are included in the balance sheet at their open market value. Surpluses and deficits arising on revaluation are

taken directly to Profit and Loss Account.

3.	TANGIBLE FIXED ASSETS

Fixtures

Investment

and

properties

fittings

Totals

£

£

£

COST OR VALUATION

At 1 February 2018

and 31 January 2019

300,000

2,084

302,084

DEPRECIATION

At 1 February 2018

-

2,026

2,026

Charge for year

-

8

8

At 31 January 2019

-

2,034

2,034

NET BOOK VALUE

At 31 January 2019

300,000

50

300,050

At 31 January 2018

300,000

58

300,058

Included in cost or valuation of land and buildings is freehold land of £ 300,000 (2018 - £ 300,000 ) which is not

depreciated.

Cost or valuation at 31 January 2019 is represented by:

Fixtures

Investment

and

properties

fittings

Totals

£

£

£

Valuation in 2005

51,468

-

51,468

Valuation in 2007

50,000

-

50,000

Valuation in 2016

75,000

-

75,000

Cost

123,532

2,084

125,616

300,000

2,084

302,084

If Investment properties had not been revalued they would have been included at the following historical cost:

31.1.19

31.1.18

£

£

Cost

123,532

123,532

Value of land in freehold land and buildings

123,532

123,532

Investment properties were valued on on open market basis on 31 January 2016 by Mr. A.J.B. Blackwell, a director

.

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.19

31.1.18

£

£

Other debtors

1,106

1,219

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.19

31.1.18

£

£

Taxation and social security

2,305

2,802

Other creditors

113,583

119,864

115,888

122,666

6.

RESERVES

Retained

earnings

£

At 1 February 2018

166,006

Profit for the year

10,027

Dividends

(10,000

)

At 31 January 2019

166,033

The balance of retained earnings at 31/1/2018 of £166,033 (2018: £166,006) includes unrealised retained

earnings of £153,132 (2018: £153,132) in respect of surpluses that have arisen on the revaluation of the

company's investment property.

7.	RELATED PARTY DISCLOSURES

Control

The company is controlled by Mr. S.A.B. Blackwell and Mr. A.J.B.Blackwell, both of whom are directors of the

company.