Press Techniques Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02364961 (England and Wales)

PRESS TECHNIQUES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2019

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr A Penn

REGISTERED OFFICE:

Unit 7

Greens Industrial Estate

Caldervale Road

Wakefield

WF1 1PE

REGISTERED NUMBER:

02364961 (England and Wales)

ACCOUNTANTS:

Harrison & Co

Chartered Accountants

531 Denby Dale Road West

Calder Grove

Wakefield

West Yorkshire

WF4 3ND

BANKERS:

National Westminster Bank Plc

8 Market Place

Huddersfied

HD1 2AL

FIXED ASSETS

Tangible assets

4

27,655

33,086

CURRENT ASSETS

Stocks

37,000

89,000

Debtors

24,513

75,126

Cash at bank

21,899

28,415

83,412

192,541

CREDITORS

Amounts falling due within one year

87,275

93,220

NET CURRENT (LIABILITIES)/ASSETS

(3,863

)

99,321

TOTAL ASSETS LESS CURRENT LIABILITIES

23,792

132,407

CREDITORS

Amounts falling due after more than one year

19,370

28,300

NET ASSETS

4,422

104,107

CAPITAL AND RESERVES

Called up share capital

15,000

15,000

Retained earnings

(10,578

)

89,107

SHAREHOLDERS' FUNDS

4,422

104,107

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 August 2019 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 23 December 2019 and were signed by:

Mr A Penn - Director

1.	STATUTORY INFORMATION

Press Techniques 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.

Plant and machinery

-

10% on reducing balance

Fixtures and fittings

-

33% on cost and 10% 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 Statement of Income and

Retained Earnings, 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 6 (2018 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 September 2018

173,569

Disposals

(5,000

)

At 31 August 2019

168,569

DEPRECIATION

At 1 September 2018

140,483

Charge for year

4,146

Eliminated on disposal

(3,715

)

At 31 August 2019

140,914

NET BOOK VALUE

At 31 August 2019

27,655

At 31 August 2018

33,086