Pickwick Papers Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07996157 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29TH MARCH 2019

FOR

PICKWICK PAPERS LIMITED

Page

Company Information

1

Report of the Accountants

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTOR:

M N Rajaseelan

REGISTERED OFFICE:

Fareham House

69 High Street

Fareham

Hampshire

PO16 7BB

REGISTERED NUMBER:

07996157 (England and Wales)

ACCOUNTANTS:

Wilkins Kennedy

Fareham House

69 High Street

Fareham

Hampshire

PO16 7BB

The following reproduces the text of the report prepared for the director 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 Director 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 Pickwick Papers Limited for the year ended 29th March 2019 which comprise the Income

Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting

records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Pickwick Papers 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 Pickwick

Papers Limited and state those matters that we have agreed to state to the Board of Directors of Pickwick Papers

Limited, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to

anyone other than Pickwick Papers Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Pickwick Papers 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 profit of Pickwick Papers

Limited. You consider that Pickwick Papers 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 Pickwick Papers 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.

Wilkins Kennedy

Fareham House

69 High Street

Fareham

Hampshire

PO16 7BB

20th December 2019

FIXED ASSETS

Tangible assets

4

4,285

5,714

CURRENT ASSETS

Stocks

114,850

84,850

Cash at bank and in hand

6,618

10,939

121,468

95,789

CREDITORS

Amounts falling due within one year

5

123,441

93,074

NET CURRENT (LIABILITIES)/ASSETS

(1,973

)

2,715

TOTAL ASSETS LESS CURRENT LIABILITIES

2,312

8,429

PROVISIONS FOR LIABILITIES

814

1,086

NET ASSETS

1,498

7,343

CAPITAL AND RESERVES

Called up share capital

50

50

Retained earnings

1,448

7,293

SHAREHOLDERS' FUNDS

1,498

7,343

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29th March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 29th March 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 20th December 2019 and were signed by:

M N Rajaseelan - Director

1.	STATUTORY INFORMATION

Pickwick Papers 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.

Critical accounting judgements and key sources of estimation uncertainty

Significant judgements and estimates

The preparation of financial statements often requires the use of judgements, estimates and assumptions that

affect the reported amounts of assets and liabilities at the date of the financial statements, and revenues and

expenses during the reporting period. These judgements, estimates and assumptions are based on

management's historical experience, knowledge and other factors including expectations of future events or

actions that are believed to be reasonable under the circumstances. Actual results may differ from those

amounts estimated.

In preparing these financial statements, management do not believe that they have made any critical

judgements in applying the company's accounting policies.

The following are estimates and assumptions that have a significant risk of causing a material adjustment to the

carrying amounts of assets and liabilities within the next financial year:

Stock - whether or not stock is saleable

Turnover

Turnover represents transaction made at point of sale, excluding value added tax.

Revenue is recognised at the point of sale when a customer purchases goods from the store.

Tangible fixed assets

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

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

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 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.

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 6 (2018 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 30th March 2018

and 29th March 2019

3,546

16,624

3,818

23,988

DEPRECIATION

At 30th March 2018

2,810

12,598

2,866

18,274

Charge for year

184

1,007

238

1,429

At 29th March 2019

2,994

13,605

3,104

19,703

NET BOOK VALUE

At 29th March 2019

552

3,019

714

4,285

At 29th March 2018

736

4,026

952

5,714

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts

23,306

-

Trade creditors

52,911

27,584

Taxation and social security

21,215

21,572

Other creditors

26,009

43,918

123,441

93,074

6.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 29th March 2019 and

29th March 2018:

2019

2018

£

£

M N Rajaseelan

Balance outstanding at start of year

17,132

26,521

Amounts advanced

(56,762

)

(76,822

)

Amounts repaid

40,000

67,433

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

370

17,132