Promenade Gift Company Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02841344 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2019

FOR

PROMENADE GIFT COMPANY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

to

4

DIRECTORS:

D A Hudson

T E Kennedy

SECRETARY:

D A Hudson

REGISTERED OFFICE:

Priory House

2 Priory Road

Dudley

West Midlands

DY1 1HH

REGISTERED NUMBER:

02841344 (England and Wales)

ACCOUNTANTS:

Poole Waterfield Limited

Priory House

2 Priory Road

Dudley

West Midlands

DY1 1HH

BANKERS:

The Royal Bank of Scotland

87 Bond Street

South Shore

Blackpool

FY4 1BW

CURRENT ASSETS

Stocks

9,300

4,600

Cash at bank and in hand

522

272

9,822

4,872

CREDITORS

Amounts falling due within one year

5

9,342

5,384

NET CURRENT ASSETS/(LIABILITIES)

480

(512

)

TOTAL ASSETS LESS CURRENT LIABILITIES

480

(512

)

CAPITAL AND RESERVES

Called up share capital

6

2

2

Retained earnings

478

(514

)

SHAREHOLDERS' FUNDS

480

(512

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 25 November 2019 and were signed on its behalf by:

D A Hudson - Director

1.	STATUTORY INFORMATION

Promenade Gift Company 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

The turnover shown in the profit and loss account represents amounts received during the year.

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

-

25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2018 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 April 2018

and 31 March 2019

3,850

DEPRECIATION

At 1 April 2018

and 31 March 2019

3,850

NET BOOK VALUE

At 31 March 2019

-

At 31 March 2018

-

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Trade creditors

-

2,521

PAYE

326

-

Wages control account

3,270

-

Directors' current accounts

368

343

Accrued expenses

5,378

2,520

9,342

5,384

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.19

31.3.18

value:

£

£

2

Ordinary

£1

2

2

7.	RELATED PARTY DISCLOSURES

In the previous year company leased a business premises from a director, Mr. D. A. Hudson, and his

wife at an annual rental of £4,500. This year no rent was paid.