Peter Howe WinDors Limited Filleted accounts for Companies House (small and micro)

PETER HOWE WINDORS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 05346331

Peter Howe WinDors Limited

Filleted Unaudited Financial Statements

For the year ended

31 December 2018

Peter Howe WinDors Limited

Financial Statements

Year ended 31 December 2018

Contents	Page

Officers and professional advisers	1

Statement of financial position	2

Notes to the financial statements	4

Peter Howe WinDors Limited

Officers and Professional Advisers

Director	Mr P Howe

Company secretary	Mrs A Howe

Registered office	550 Valley Road
	Basford
	Nottingham
	NG5 1JJ

Accountants	Swandec
	Chartered Accountants
	550 Valley Road
	Basford
	Nottingham
	NG5 1JJ

Bankers	National Westminster
	19 High Road
	Beeston
	Nottingham
	NG9 2JX

Peter Howe WinDors Limited

Statement of Financial Position

31 December 2018

	2018		2017
Note	£	£	£

Fixed assets

Intangible assets	3	10,900	12,717
Tangible assets	4	238	317
		--------	--------
		11,138	13,034

Current assets

Debtors	5	197	–
Cash at bank and in hand		18,777	6,868
		--------	------
		18,974	6,868

Creditors: amounts falling due within one year	6	14,109		8,845
		--------		------
Net current assets/(liabilities)			4,865	( 1,977)
			--------	--------
Total assets less current liabilities			16,003	11,057
			--------	--------
Net assets			16,003	11,057
			--------	--------

Capital and reserves

Called up share capital	7	1	1
Profit and loss account		16,002	11,056
		--------	--------
Shareholders funds		16,003	11,057
		--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.

For the year ending 31 December 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Peter Howe WinDors Limited

Statement of Financial Position (continued)

31 December 2018

These financial statements were approved by the board of directors and authorised for issue on 4 September 2019 , and are signed on behalf of the board by:

Mr P Howe
Director

Company registration number: 05346331

Peter Howe WinDors Limited

Notes to the Financial Statements

Year ended 31 December 2018

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 550 Valley Road, Basford, Nottingham, NG5 1JJ.

2. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

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

Revenue recognition

The turnover shown in the profit and loss account represents amounts invoiced for work carried out during the year, exclusive of Value Added Tax.

Income tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more or a right to pay less tax. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

Goodwill

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	5% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Fixtures & Fittings	-	25% reducing balance

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

3. Intangible assets

	Goodwill
	£
Cost
At 1 January 2018 and 31 December 2018	36,333
	--------
Amortisation
At 1 January 2018	23,616
Charge for the year	1,817
	--------
At 31 December 2018	25,433
	--------
Carrying amount
At 31 December 2018	10,900
	--------
At 31 December 2017	12,717
	--------

4. Tangible assets

	Fixtures and fittings	Total
	£	£
Cost
At 1 January 2018 and 31 December 2018	1,426	1,426
	------	------
Depreciation
At 1 January 2018	1,109	1,109
Charge for the year	79	79
	------	------
At 31 December 2018	1,188	1,188
	------	------
Carrying amount
At 31 December 2018	238	238
	------	------
At 31 December 2017	317	317
	------	------

5. Debtors

	2018	2017
	£	£
Other debtors	197	–
	----	----

6. Creditors: amounts falling due within one year

	2018	2017
	£	£
Corporation tax	2,543	145
Social security and other taxes	–	496
Other creditors	11,566	8,204
	--------	------
	14,109	8,845
	--------	------

7. Called up share capital

Issued, called up and fully paid

	2018		2017
	No.	£	No.	£
Ordinary shares of £ 1 each	1	1.00	1	1.00
	----	-----	----	-----

8. Director's advances, credits and guarantees

At the statement of financial position the company owed the director £10,846 (2017:£7,484). The directors loan account is unsecured, interest free and repayable on demand.