Prodem Demolition & Asbestos Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06304677 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 April 2019

for

Prodem Demolition & Asbestos Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

S M Cross

SECRETARY:

Mrs E Cross

REGISTERED OFFICE:

Park View

16 Trafford Gardens

Nottingham

Nottinghamshire

NG8 5AL

REGISTERED NUMBER:

06304677 (England and Wales)

ACCOUNTANTS:

Bostockwhite Limited

Cabourn House

Station Street

Bingham

Nottinghamshire

NG13 8AQ

FIXED ASSETS

Intangible assets

4

13,125

17,625

Tangible assets

5

184,615

248,553

197,740

266,178

CURRENT ASSETS

Debtors

6

136,262

127,850

Cash at bank and in hand

681

666

136,943

128,516

CREDITORS

Amounts falling due within one year

7

224,018

290,821

NET CURRENT LIABILITIES

(87,075

)

(162,305

)

TOTAL ASSETS LESS CURRENT LIABILITIES

110,665

103,873

CREDITORS

Amounts falling due after more than one year

8

(19,333

)

(62,599

)

PROVISIONS FOR LIABILITIES

(30,932

)

(40,468

)

NET ASSETS

60,400

806

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

60,300

706

SHAREHOLDERS' FUNDS

60,400

806

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 15 October 2019 and were signed by:

M P Cross - Director

1.	STATUTORY INFORMATION

Prodem Demolition & Asbestos 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 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2012, 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 each asset over its estimated useful life.

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 3 (2018 - 16 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 May 2018

and 30 April 2019

45,000

AMORTISATION

At 1 May 2018

27,375

Charge for year

4,500

At 30 April 2019

31,875

NET BOOK VALUE

At 30 April 2019

13,125

At 30 April 2018

17,625

5.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 May 2018

386,570

72,417

10,356

469,343

Additions

-

-

497

497

Disposals

(35,350

)

(14,699

)

-

(50,049

)

At 30 April 2019

351,220

57,718

10,853

419,791

DEPRECIATION

At 1 May 2018

161,554

49,895

9,341

220,790

Charge for year

30,806

5,081

592

36,479

Eliminated on disposal

(10,139

)

(11,954

)

-

(22,093

)

At 30 April 2019

182,221

43,022

9,933

235,176

NET BOOK VALUE

At 30 April 2019

168,999

14,696

920

184,615

At 30 April 2018

225,016

22,522

1,015

248,553

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.19

30.4.18

£

£

Trade debtors

123,917

88,395

Other debtors

12,345

39,455

136,262

127,850

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.19

30.4.18

£

£

Bank loans and overdrafts

28,909

22,899

Hire purchase contracts

28,345

40,623

Trade creditors

43,037

155,744

Taxation and social security

53,142

39,043

Other creditors

70,585

32,512

224,018

290,821

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.4.19

30.4.18

£

£

Hire purchase contracts

19,333

62,599

9.	SECURED DEBTS

The following secured debts are included within creditors:

30.4.19

30.4.18

£

£

Bank overdrafts

28,909

22,899

Hire purchase contracts

47,678

103,222

76,587

126,121

The bank overdraft is secured to Lloyds TSB Bank Plc by a fixed and floating charge over all assets of the company.

Hire purchase contracts are secured on the items to which they relate.

10.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 30 April 2019 and the period ended

30 April 2018:

30.4.19

30.4.18

£

£

M P Cross

Balance outstanding at start of year

11,681

25,829

Amounts repaid

(11,681

)

(14,148

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

11,681