The Pedestal Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10159639 (England and Wales)

Unaudited Financial Statements For The Year Ended 31 May 2019

for

The Pedestal Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

P Solomons

G S G Savill

S A Stratton

M J G Walecki

SECRETARY:

Psiba Ltd

REGISTERED OFFICE:

55 Princes Gate

Exhibition Road

London

SW7 2PG

REGISTERED NUMBER:

10159639 (England and Wales)

ACCOUNTANTS:

Fuller Spurling

Mill House

58 Guildford Street

Chertsey

Surrey

KT16 9BE

FIXED ASSETS

Intangible assets

4

47,100

62,800

Tangible assets

5

4,774

8,505

51,874

71,305

CURRENT ASSETS

Debtors

6

16,016

19,705

Cash at bank

62,961

170,845

78,977

190,550

CREDITORS

Amounts falling due within one year

7

32,642

60,750

NET CURRENT ASSETS

46,335

129,800

TOTAL ASSETS LESS CURRENT LIABILITIES

98,209

201,105

CAPITAL AND RESERVES

Called up share capital

4

4

Share premium

8

273,996

273,996

Retained earnings

8

(175,791

)

(72,895

)

SHAREHOLDERS' FUNDS

98,209

201,105

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 23 January 2020 and were signed on its behalf by:

P Solomons - Director

1.	STATUTORY INFORMATION

The Pedestal Ltd 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.

Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Turnover from the sale of goods is recognised when goods are delivered and legal title has passed.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of five years.

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 cost

Fixtures and fittings

-

25% on cost

Taxation

Taxation represents the sum of tax currently payable, and deferred tax if material.

The company's liability for current tax is calculated using tax rates that have been enacted or substantively

enacted by the end of the reporting period.

Deferred tax, where material, is recognised on all timing differences between the carrying amounts of assets and

liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit.

The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the

extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset

to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which

the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or

substantively enacted by the end of the reporting period.

Hire purchase and leasing commitments

Rentals payable under operating lease agreements are charged to the profit and loss account evenly over the life

of the leases.

Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered.

Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and in hand

Cash at bank includes cash and short term highly liquid investments with a short maturity of three months or less

from the date of acquisition or opening of the deposit or similar account.

Creditors

Creditors, provisions and accrued costs are recognised where the company has a present obligation resulting

from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the

obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their

settlement amount after allowing for any trade discounts due.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2018 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 June 2018

and 31 May 2019

78,500

AMORTISATION

At 1 June 2018

15,700

Charge for year

15,700

At 31 May 2019

31,400

NET BOOK VALUE

At 31 May 2019

47,100

At 31 May 2018

62,800

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

COST

At 1 June 2018

and 31 May 2019

11,810

3,113

14,923

DEPRECIATION

At 1 June 2018

5,151

1,267

6,418

Charge for year

2,952

779

3,731

At 31 May 2019

8,103

2,046

10,149

NET BOOK VALUE

At 31 May 2019

3,707

1,067

4,774

At 31 May 2018

6,659

1,846

8,505

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.19

31.5.18

£

£

Trade debtors

16,016

19,705

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.19

31.5.18

£

£

Trade creditors

19,443

15,914

VAT

4,537

4,351

Other creditors

1,462

-

Directors' current accounts

6,000

6,000

Accrued expenses

1,200

34,485

32,642

60,750

8.

RESERVES

Retained

Share

earnings

premium

Totals

£

£

£

At 1 June 2018

(72,895

)

273,996

201,101

Deficit for the year

(102,896

)

(102,896

)

At 31 May 2019

(175,791

)

273,996

98,205