Pretloves Removal & Storage Service Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06855543 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2019

for

Pretloves Removal & Storage Service Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr A C Pretlove

Mrs A T Pretlove-Redmond

SECRETARY:

Mrs A T Pretlove-Redmond

REGISTERED OFFICE:

Lewis House

Great Chesterford Court

Great Chesterford

Essex

CB10 1PF

BUSINESS ADDRESS:

Woodside Industrial Estate

Woodside

Epping

Essex

CM16 6LJ

REGISTERED NUMBER:

06855543 (England and Wales)

FIXED ASSETS

Intangible assets

5

-

9,000

Tangible assets

6

91,379

121,285

91,379

130,285

CURRENT ASSETS

Stocks

3,670

3,617

Debtors

7

256,998

168,245

Cash at bank

26,763

57,980

287,431

229,842

CREDITORS

Amounts falling due within one year

8

(323,752

)

(316,296

)

NET CURRENT LIABILITIES

(36,321

)

(86,454

)

TOTAL ASSETS LESS CURRENT LIABILITIES

55,058

43,831

CREDITORS

Amounts falling due after more than one year

9

(824

)

(10,386

)

PROVISIONS FOR LIABILITIES

(8,841

)

(11,645

)

NET ASSETS

45,393

21,800

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

45,193

21,600

SHAREHOLDERS' FUNDS

45,393

21,800

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 applicable to companies subject to the small companies regime.

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 15 October 2019 and were signed on its behalf by:

Mr A C Pretlove - Director

Mrs A T Pretlove-Redmond - Director

1.	STATUTORY INFORMATION

Pretloves Removal & Storage Service 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of ten years.

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 the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% 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.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual

provisions of the instruments.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes, in

effect, a financing transaction, where it is recognised at the present value of the future payments discounted at a

market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

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.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 30 (2018 - 32 ) .

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2018

and 31 March 2019

90,000

AMORTISATION

At 1 April 2018

81,000

Charge for year

9,000

At 31 March 2019

90,000

NET BOOK VALUE

At 31 March 2019

-

At 31 March 2018

9,000

6.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2018

490,096

Additions

1,576

Disposals

(13,251

)

At 31 March 2019

478,421

DEPRECIATION

At 1 April 2018

368,811

Charge for year

30,459

Eliminated on disposal

(12,228

)

At 31 March 2019

387,042

NET BOOK VALUE

At 31 March 2019

91,379

At 31 March 2018

121,285

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 April 2018

144,577

Transfer to ownership

(107,577

)

At 31 March 2019

37,000

DEPRECIATION

At 1 April 2018

78,382

Charge for year

5,203

Transfer to ownership

(62,193

)

At 31 March 2019

21,392

NET BOOK VALUE

At 31 March 2019

15,608

At 31 March 2018

66,195

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

69,535

68,784

Other debtors

187,463

99,461

256,998

168,245

Included within other debtors disclosed above is a balance of £89,617 (2018 - £nil) in relation to directors loan

account, £10,854 (2018 - £14,113) in relation to other debtors and a balance of £86,992 (2018 - £85,348) in

relation to prepayments.

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Hire purchase contracts (see note 10)

9,562

28,434

Trade creditors

146,791

152,017

Taxation and social security

121,541

87,038

Other creditors

45,858

48,807

323,752

316,296

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Hire purchase contracts (see note 10)

824

10,386

10.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

2019

2018

£

£

Net obligations repayable:

Within one year

9,562

28,434

Between one and five years

824

10,386

10,386

38,820

Non-cancellable operating

leases

2019

2018

£

£

Within one year

93,000

93,000

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2019 and

31 March 2018:

2019

2018

£

£

Mr A C Pretlove

Balance outstanding at start of year

-

-

Amounts advanced

34,278

-

Amounts repaid

(515

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

33,763

-

Mrs A T Pretlove-Redmond

Balance outstanding at start of year

-

-

Amounts advanced

56,159

-

Amounts repaid

(305

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

55,854

-

The above amounts owed to the company by the directors are disclosed within other debtors in the balance sheet.

The advances made to the director in the year had no fixed repayment terms and were repayable on demand.

Interest was charged on advances to the directors at a rate of 7%.

National Westminster Bank Plc have a fixed and floating charge covering all property and undertaking of the

company. This is providing security for a loan of which the directors have obtained personally.