Humberside PS Limited Filleted accounts for Companies House (small and micro)

HUMBERSIDE PS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 07055947

Humberside PS Limited

Filleted Unaudited Financial Statements

For the Year Ended

31 March 2019

Humberside PS Limited

Statement of Financial Position

31 March 2019

	2019		2018
Note	£	£	£	£

Fixed Assets

Tangible assets	5		5,348		2,080

Current Assets

Debtors	6	99,745	92,393
Investments	7	205,278	100,000
Cash at bank and in hand		1,582,373	1,264,323
		------------	------------
		1,887,396	1,456,716

Creditors: amounts falling due within one year	8	115,877		122,211
		------------		------------
Net Current Assets			1,771,519		1,334,505
			------------		------------
Total Assets Less Current Liabilities			1,776,867		1,336,585
			------------		------------
Net Assets			1,776,867		1,336,585
			------------		------------

Capital and Reserves

Called up share capital	1,000	1,000
Profit and loss account	1,775,867	1,335,585
	------------	------------
Shareholders Funds	1,776,867	1,336,585
	------------	------------

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 statement of income and retained earnings has not been delivered.

For the year ending 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Humberside PS Limited

Statement of Financial Position (continued)

31 March 2019

These financial statements were approved by the board of directors and authorised for issue on 20 November 2019 , and are signed on behalf of the board by:

M Riaz

Director

Company registration number: 07055947

Humberside PS Limited

Notes to the Financial Statements

Year Ended 31 March 2019

1. General Information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Halifax House, 30-34 George Street, Hull, HU1 3AJ, East Yorkshire.

2. Statement of Compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. 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

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Income Tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

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.

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 and equipment	-	25% straight line

Impairment of Fixed Assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs.

Financial Instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes 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. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship (see hedge accounting policy).

4. Employee Numbers

The average number of persons employed by the company during the year amounted to 3 (2018: 2 ).

5. Tangible Assets

	Fixtures and equipment	Total
	£	£
Cost
At 1 April 2018	5,277	5,277
Additions	4,294	4,294
Disposals	( 2,503)	( 2,503)
	-------	-------
At 31 March 2019	7,068	7,068
	-------	-------
Depreciation
At 1 April 2018	3,197	3,197
Charge for the year	1,026	1,026
Disposals	( 2,503)	( 2,503)
	-------	-------
At 31 March 2019	1,720	1,720
	-------	-------
Carrying amount
At 31 March 2019	5,348	5,348
	-------	-------
At 31 March 2018	2,080	2,080
	-------	-------

6. Debtors

	2019	2018
	£	£
Trade debtors	35,467	30,966
Other debtors	64,278	61,427
	--------	--------
	99,745	92,393
	--------	--------

7. Investments

	2019	2018
	£	£
Other investments	205,278	100,000
	---------	---------

8. Creditors: amounts falling due within one year

	2019	2018
	£	£
Trade creditors	2,195	3,740
Social security and other taxes	111,352	116,166
Other creditors	2,330	2,305
	---------	---------
	115,877	122,211
	---------	---------

9. Financial Instruments at Fair Value

	2019	2018
	£	£

Financial assets measured at fair value through profit or loss

Financial assets measured at fair value through profit or loss	205,278	100,000
	---------	---------

Financial instruments measured at fair value through profit and loss are listed investments valued at open market value.

10. Directors' Advances, Credits and Guarantees

During the year the directors entered into the following advances and credits with the company:

	2019
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
M Riaz	7,163	31,283	( 7,163)	31,283
A Sheikh	7,163	31,282	( 7,163)	31,282
	--------	--------	--------	--------
	14,326	62,565	( 14,326)	62,565
	--------	--------	--------	--------

	2018
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
M Riaz	–	7,163	–	7,163
A Sheikh	–	7,163	–	7,163
	----	--------	----	--------
	–	14,326	–	14,326
	----	--------	----	--------

Balances are repayable on demand and subject to interest at the Official Rate.