P V Projects Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03296321 (England and Wales)

P V PROJECTS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2018

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J P Cleary

S C Smallman

R D Buchanan

S A Masker

Ms C A Knowles

REGISTERED OFFICE:

Grosvenor Court

Winchester Road

Ampfield

Hampshire

SO51 9BD

REGISTERED NUMBER:

03296321 (England and Wales)

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

75,412

93,208

75,412

93,208

CURRENT ASSETS

Debtors

6

725,945

704,315

Cash at bank and in hand

246,284

170,837

972,229

875,152

CREDITORS

Amounts falling due within one year

7

(507,418

)

(431,935

)

NET CURRENT ASSETS

464,811

443,217

TOTAL ASSETS LESS CURRENT LIABILITIES

540,223

536,425

PROVISIONS FOR LIABILITIES

(22,000

)

(20,000

)

NET ASSETS

518,223

516,425

CAPITAL AND RESERVES

Called up share capital

1,002

1,002

Retained earnings

517,221

515,423

SHAREHOLDERS' FUNDS

518,223

516,425

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 3 September 2019 and were signed on its behalf by:

S C Smallman - Director

1.	STATUTORY INFORMATION

P V Projects 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 FRS 102 "The Financial Reporting Standards

applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as

applicable to companies subject to the small companies regime.

The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure

is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary

amounts in these financial statements are rounded to the nearest £1.

Turnover

Turnover represents net sales during the year (excluding value added tax and disbursements) adjusted for

accrued and deferred income where applicable.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Fixtures and fittings

-

15% Straight line

Computer equipment

-

25% Straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and

the carrying value of the asset and is recognised in the income statement.

Financial instruments

The Company has elected to apply the provision of Section 11 'Basic Financial Instruments' and Section 12

'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial assets are recognised in the company's statement of financial position when the company becomes

party to the contractual provisions of the instrument.

Basic financial assets, which include trade and other receivables and cash and bank balances are initially

measured at transaction price including transaction costs and are subsequently carried at amortised cost using the

effective interest method, unless the arrangement constitutes a financial transaction, where the transaction is

measured at the present value of the future receipts discounted at a market rate of interest.

Financial Liabilities

Basic financial liabilities which include trade and other payables, are initially measured at transaction price and

subsequently measured at amortised cost, unless the arrangement constitutes a financing transaction where the

debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Equity Instruments

Equity instruments issued by the company are recorded at the fair value of the proceeds received net of direct

issue costs. Dividend's payable on equity instruments are recognised as liabilities once they are no longer at the

discretion of the company

Pension costs and other post-retirement benefits

Contributions are paid into individual employees' personal pension plans. The cost is charges to the profit and

loss account in the year in which they become payable.

Employee ownership trust

On 21 December 2015, the company established the P V Projects Employee Ownership Trust for the benefit of

employees. Monies held in this trust are held by independent trustees and managed at their own discretion.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 29 (2017 - 28 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2018

and 31 December 2018

100,000

AMORTISATION

At 1 January 2018

and 31 December 2018

100,000

NET BOOK VALUE

At 31 December 2018

-

At 31 December 2017

-

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 January 2018

99,022

131,924

230,946

Additions

1,686

14,004

15,690

Disposals

(2,254

)

(18,857

)

(21,111

)

At 31 December 2018

98,454

127,071

225,525

DEPRECIATION

At 1 January 2018

70,782

66,956

137,738

Charge for year

7,278

25,663

32,941

Eliminated on disposal

(2,230

)

(18,336

)

(20,566

)

At 31 December 2018

75,830

74,283

150,113

NET BOOK VALUE

At 31 December 2018

22,624

52,788

75,412

At 31 December 2017

28,240

64,968

93,208

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

486,703

469,767

Amounts owed by group undertakings

200,000

200,000

Other debtors

39,242

34,548

725,945

704,315

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

38,340

46,290

Taxation and social security

237,619

233,990

Other creditors

231,459

151,655

507,418

431,935