PSC Mailing Ltd,Ltd - AccountsLtd - Accounts

PSC Mailing Ltd,Ltd - AccountsLtd - Accounts

PSC MAILING LTD - Company Information

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2018-03-01 07132980 2019-02-28 07132980 2018-03-01 2019-02-28 07132980 2018-02-28 07132980 2017-03-01 2018-02-28 07132980 uk-core:WithinOneYear 2018-02-28 07132980 uk-core:WithinOneYear 2019-02-28 07132980 uk-core:AfterOneYear 2018-02-28 07132980 uk-core:AfterOneYear 2019-02-28 07132980 uk-core:ShareCapital 2019-02-28 07132980 uk-core:ShareCapital 2018-02-28 07132980 uk-core:RetainedEarningsAccumulatedLosses 2019-02-28 07132980 uk-core:RetainedEarningsAccumulatedLosses 2018-02-28 07132980 uk-bus:Director1 2018-03-01 2019-02-28 07132980 uk-bus:Director2 2018-03-01 2019-02-28 07132980 uk-core:NetGoodwill 2018-03-01 2019-02-28 07132980 uk-core:PlantMachinery 2018-03-01 2019-02-28 07132980 uk-core:ToolsEquipment 2018-03-01 2019-02-28 07132980 uk-core:FurnitureFittings 2018-03-01 2019-02-28 07132980 uk-core:Goodwill 2018-02-28 07132980 uk-core:Goodwill 2019-02-28 07132980 uk-core:Goodwill 2018-03-01 2019-02-28 07132980 uk-core:ToolsEquipment 2018-02-28 07132980 uk-core:FurnitureFittings 2018-02-28 07132980 uk-core:PlantMachinery 2018-02-28 07132980 uk-core:PlantMachinery 2019-02-28 07132980 uk-core:FurnitureFittings 2019-02-28 07132980 uk-core:ToolsEquipment 2019-02-28 iso4217:GBP 07132980 uk-bus:AuditExempt-NoAccountantsReport 2018-03-01 2019-02-28 07132980 uk-bus:FRS102 2018-03-01 2019-02-28 07132980 uk-bus:FullAccounts 2018-03-01 2019-02-28 07132980 uk-bus:PrivateLimitedCompanyLtd 2018-03-01 2019-02-28
PSC Mailing Ltd
Registered Number:07132980
For the year ended 28 February 2019
England and Wales
Unaudited Financial Statements
2
For the year ended 28 February 2019
PSC Mailing Ltd
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
3
As at 28 February 2019
PSC Mailing Ltd
Statement of Financial Position
Registered Number :
07132980
£
£
2018
2019
Notes
Fixed assets
Intangible assets
12,000
14,000
2
Property, plant and equipment
87,653
113,875
3
99,653
127,875
Current assets
Inventories
4,581
6,500
4
Trade and other receivables
196,236
178,040
5
145,052
Cash and cash equivalents
144,237
328,777
345,869
Trade and other payables: amounts falling due within one
year
(220,382)
(182,260)
6
125,487
146,517
Net current assets
Total assets less current liabilities
246,170
253,362
Trade and other payables: amounts falling due after more
than one year
-
(139)
7
246,031
Net assets
253,362
Capital and reserves
Called up share capital
3
3
Retained earnings
246,028
253,359
246,031
253,362
Shareholders' funds
For the year ended 28 February 2019 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
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 proper 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 Section
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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Aaron Corbett Director
Elizabeth Maly Director
These financial statements were approved and authorised for issue by the Board on 21 June 2019 and were signed by:
The notes form part of these financial statements
1 of 4
4
For the year ended 28 February 2019
PSC Mailing Ltd
Notes to the Financial Statements
Statutory Information
PSC Mailing Ltd is a private limited company, limited by shares, domiciled in England and Wales, registration number
07132980.
Registered address:
Unit 8 Waters Business Park
Oil Sites Road
Ellesmere Port
CH65 4FF
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of 10 years.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and machinery
25% Reducing balance
33.3% Straight line
Computer equipment
25% Reducing balance
Fixtures and fittings
Inventories
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Hire purchase and leasing commitments
The finance element of the rental payment is charged to the profit and loss account on a straight line basis.
2 of 4
5
For the year ended 28 February 2019
PSC Mailing Ltd
Notes to the Financial Statements Continued
2. Intangible fixed assets
Goodwill
Cost or valuation
£
At 01 March 2018
20,000
At 28 February 2019
20,000
Amortisation
At 01 March 2018
6,000
2,000
Charge for year
At 28 February 2019
8,000
Net book value
At 28 February 2019
12,000
At 28 February 2018
14,000
3. Property, plant and equipment
Total
Computer
equipment
Fixtures and
fittings
Plant and
machinery
£
£
£
£
Cost or
valuation
At 01 March 2018
209,715
4,275
5,398
200,042
2,995
-
-
2,995
Additions
At 28 February 2019
203,037
5,398
4,275
212,710
Provision for depreciation and impairment
At 01 March 2018
95,840
4,275
2,666
88,899
Charge for year
29,217
-
683
28,534
At 28 February 2019
125,057
4,275
3,349
117,433
At 28 February 2019
Net book value
85,604
2,049
-
87,653
At 28 February 2018
111,143
2,732
-
113,875
4. Inventories
2018
2019
£
£
Stocks
6,500
4,581
5. Trade and other receivables
2018
2019
£
£
Trade debtors
178,040
196,236
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6
For the year ended 28 February 2019
PSC Mailing Ltd
Notes to the Financial Statements Continued
6. Trade and other payables: amounts falling due within one year
2018
2019
£
£
Trade creditors
83,086
106,240
Taxation and social security
55,766
54,843
Other creditors
43,408
59,299
182,260
220,382
7. Trade and other payables: amounts falling due after more than one year
2018
2019
£
£
Other creditors
139
-
4 of 4