Physical Edge Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05903633 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 August 2019

for

Physical Edge Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

R W Chong

REGISTERED OFFICE:

2 Pelham Street

London

SW7 2NG

REGISTERED NUMBER:

05903633 (England and Wales)

FIXED ASSETS

Tangible assets

4

15,623

15,833

CURRENT ASSETS

Debtors

5

215,903

244,293

Cash at bank and in hand

276,161

235,906

492,064

480,199

CREDITORS

Amounts falling due within one year

6

(120,215

)

(128,384

)

NET CURRENT ASSETS

371,849

351,815

TOTAL ASSETS LESS CURRENT LIABILITIES

387,472

367,648

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

387,372

367,548

387,472

367,648

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.

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 20 February 2020 and were signed by:

R W Chong - Director

1.	STATUTORY INFORMATION

Physical Edge 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 etc

-

25% on reducing balance

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.

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 3 (2018 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 September 2018

44,503

Additions

4,998

At 31 August 2019

49,501

DEPRECIATION

At 1 September 2018

28,670

Charge for year

5,208

At 31 August 2019

33,878

NET BOOK VALUE

At 31 August 2019

15,623

At 31 August 2018

15,833

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.19

31.8.18

£

£

Trade debtors

9,280

37,838

Amounts owed by group undertakings

201,102

201,102

Other debtors

5,521

5,353

215,903

244,293

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.19

31.8.18

£

£

Trade creditors

(1

)

-

Taxation and social security

16,641

20,988

Other creditors

103,575

107,396

120,215

128,384