| PBF INVESTMENTS LTD |
| Registered number: |
10756531 |
| Balance Sheet |
| as at 31 December 2018 |
|
| Notes |
|
|
2018 |
|
|
2017 |
| £ |
£ |
| Current assets |
| Debtors |
2 |
|
11,057,451 |
|
|
11,192,327 |
| Cash at bank and in hand |
|
|
91,055 |
|
|
97,520 |
|
|
|
11,148,506 |
|
|
11,289,847 |
|
| Creditors: amounts falling due within one year |
3 |
|
(12,325,171) |
|
|
(11,246,045) |
|
| Net current (liabilities)/assets |
|
|
|
(1,176,665) |
|
|
43,802 |
|
| Net (liabilities)/assets |
|
|
|
(1,176,665) |
|
|
43,802 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
100 |
|
|
100 |
| Profit and loss account |
|
|
|
(1,176,765) |
|
|
43,702 |
|
| Shareholders' funds |
|
|
|
(1,176,665) |
|
|
43,802 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| Mr Erdal Henri Frayman |
| Director |
| Approved by the board on 27 August 2019 |
|
| PBF INVESTMENTS LTD |
| Notes to the Accounts |
| for the year ended 31 December 2018 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, Section 1A entities. |
|
The presentation currency is £ sterling |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. |
|
|
| 2 |
Debtors |
2018 |
|
2017 |
| £ |
£ |
|
|
Trade debtors |
10,978,059 |
|
11,176,487 |
|
Other debtors |
79,392 |
|
15,840 |
|
|
|
|
|
|
11,057,451 |
|
11,192,327 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 3 |
Creditors: amounts falling due within one year |
2018 |
|
2017 |
| £ |
£ |
|
|
Trade creditors |
12,252 |
|
6,769 |
|
Amounts due to parent company |
|
|
|
|
9,865,936 |
|
10,720,786 |
|
Corporation tax |
215,802 |
|
10,251 |
|
Other creditors |
2,231,181 |
|
508,239 |
|
|
|
|
|
|
12,325,171 |
|
11,246,045 |
|
|
|
|
|
|
|
|
|
|
Other creditors include a provision of £1,884,978 for specific doubtful debts related to trade debotrs; the matter is ongoing with the actual loss being decided by the outcome of the court case. |
|
|
| 4 |
Statutory information |
|
|
PBF INVESTMENTS LTD is a private company limited by shares and incorporated in England. Its registered office is: |
|
Kalamu House |
|
11 Coldbath Square |
|
London |
|
EC1R 5HL |
