PSW Spraybooths Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03919268 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2019

for

PSW Spraybooths Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTORS:

I G Stone

Mrs V B Stone

SECRETARY:

K M Wall

REGISTERED OFFICE:

Unit 5

Anglesey Business Park

Littleworth

Hednesford

Staffordshire

WS12 1NR

REGISTERED NUMBER:

03919268 (England and Wales)

ACCOUNTANTS:

Crowther Jordan Limited

Chartered Accountants

39 High Street

Wednesfield

Wolverhampton

West Midlands

WV11 1ST

BANKERS:

HSBC Bank PLC

14 Upper Brook Street

Rugeley

Staffordshire

WS12 2DW

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

5,941

7,676

5,941

7,676

CURRENT ASSETS

Stocks

23,118

30,955

Debtors

6

112,687

120,669

Cash at bank

827,955

949,055

963,760

1,100,679

CREDITORS

Amounts falling due within one year

7

68,410

200,956

NET CURRENT ASSETS

895,350

899,723

TOTAL ASSETS LESS CURRENT LIABILITIES

901,291

907,399

PROVISIONS FOR LIABILITIES

1,129

1,458

NET ASSETS

900,162

905,941

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

900,062

905,841

SHAREHOLDERS' FUNDS

900,162

905,941

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

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

The financial statements were approved and authorised for issue by the Board of Directors on 5 August 2019 and were signed on its behalf by:

I G Stone - Director

1.	STATUTORY INFORMATION

PSW Spraybooths 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

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

-

25% on reducing balance and 20% on reducing balance

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 Statement of Income and

Retained Earnings, 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 5 (2018 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2018

and 31 March 2019

35,000

AMORTISATION

At 1 April 2018

and 31 March 2019

35,000

NET BOOK VALUE

At 31 March 2019

-

At 31 March 2018

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2018

and 31 March 2019

42,782

DEPRECIATION

At 1 April 2018

35,106

Charge for year

1,735

At 31 March 2019

36,841

NET BOOK VALUE

At 31 March 2019

5,941

At 31 March 2018

7,676

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Trade debtors

97,582

90,246

Other debtors

15,105

30,423

112,687

120,669

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Trade creditors

24,168

25,011

Taxation and social security

40,139

172,057

Other creditors

4,103

3,888

68,410

200,956

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a

Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the

Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of PSW Spraybooths Limited for the year ended 31 March 2019 which comprise the Statement of

Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from

information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of PSW Spraybooths Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of PSW Spraybooths Limited and state those matters that we have agreed to state to the Board of Directors of PSW Spraybooths Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than PSW Spraybooths Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that PSW Spraybooths Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of PSW Spraybooths Limited. You consider that PSW Spraybooths Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of PSW Spraybooths Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Crowther Jordan Limited

Chartered Accountants

39 High Street

Wednesfield

Wolverhampton

West Midlands

WV11 1ST

5 August 2019