Prickett & Ellis Lettings Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04664203 (England and Wales)

Unaudited Financial Statements for the Year Ended 28 February 2019

for

Prickett & Ellis Lettings Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTORS:

N J Ellis

C Fox

SECRETARY:

N J Ellis

REGISTERED OFFICE:

Regency House

33 Wood Street

Barnet

Hertfordshire

EN5 4BE

REGISTERED NUMBER:

04664203 (England and Wales)

ACCOUNTANTS:

Cartwrights

Chartered Accountants and Business Advisors

Regency House

33 Wood Street

Barnet

Hertfordshire

EN5 4BE

FIXED ASSETS

Tangible assets

4

8,709

7,321

CURRENT ASSETS

Debtors

5

35,537

44,956

Prepayments and accrued income

7,357

11,375

Cash at bank

95,465

139,900

138,359

196,231

CREDITORS

Amounts falling due within one year

6

180,967

186,537

NET CURRENT (LIABILITIES)/ASSETS

(42,608

)

9,694

TOTAL ASSETS LESS CURRENT LIABILITIES

(33,899

)

17,015

PROVISIONS FOR LIABILITIES

504

63

NET (LIABILITIES)/ASSETS

(34,403

)

16,952

CAPITAL AND RESERVES

Called up share capital

7

4

4

Retained earnings

(34,407

)

16,948

SHAREHOLDERS' FUNDS

(34,403

)

16,952

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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 20 November 2019 and were signed on its behalf by:

C Fox - Director

1.	STATUTORY INFORMATION

Prickett & Ellis Lettings 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

Straight line over 5 years

Motor vehicles

-

Straight line over 5 years

Computer equipment

-

Straight line over 5 years

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 5 (2018 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 March 2018

4,303

17,000

8,885

30,188

Additions

-

-

4,287

4,287

Disposals

-

(17,000

)

-

(17,000

)

At 28 February 2019

4,303

-

13,172

17,475

DEPRECIATION

At 1 March 2018

2,899

17,000

2,968

22,867

Charge for year

337

-

2,562

2,899

Eliminated on disposal

-

(17,000

)

-

(17,000

)

At 28 February 2019

3,236

-

5,530

8,766

NET BOOK VALUE

At 28 February 2019

1,067

-

7,642

8,709

At 28 February 2018

1,404

-

5,917

7,321

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28/2/19

28/2/18

£

£

Trade debtors

35,537

21,728

Other debtors

-

1,779

P & E Property Management

-

21,449

35,537

44,956

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28/2/19

28/2/18

£

£

Trade creditors

955

610

Tax

17

852

Social security and other taxes

6,164

5,510

Pension control a/c

274

268

VAT

1,160

6,200

Deposits held

91,577

81,200

Company credit card

2,093

3,094

P & E Residential

37,988

47,796

Directors' current accounts

18,163

18,431

Accruals and deferred income

22,576

22,576

180,967

186,537

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

28/2/19

28/2/18

value:

£

£

3

Ordinary

£1

3

3

1

Ordinary "A"

£1

1

1

4

4

8.	ULTIMATE CONTROLLING PARTY

The company is controlled equally by the directors.

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 Prickett & Ellis Lettings Limited for the year ended 28 February 2019 which comprise the Income Statement,

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 Prickett & Ellis Lettings 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 Prickett & Ellis Lettings Limited and state those matters that we have agreed to state to the Board of Directors of Prickett & Ellis Lettings 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 Prickett & Ellis Lettings Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Prickett & Ellis Lettings 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 loss of Prickett & Ellis Lettings Limited. You consider that Prickett & Ellis Lettings 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 Prickett & Ellis Lettings 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.

Cartwrights

Chartered Accountants and Business Advisors

Regency House

33 Wood Street

Barnet

Hertfordshire

EN5 4BE

20 November 2019