P S Lighting Solutions Limited Filleted accounts for Companies House (small and micro)

P S Lighting Solutions Limited Filleted accounts for Companies House (small and micro)

PS LIGHTING SOLUTIONS LIMITED - Company Information

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false false false false false false false false false true false false false false false false false No description of principal activity 2018-07-01 Sage Accounts Production Advanced 2019 - FRS102_2014 45,793 15,564 61,357 19,338 10,505 29,843 31,514 26,455 xbrli:pure xbrli:shares iso4217:GBP 05486219 2018-07-01 2019-06-30 05486219 2019-06-30 05486219 2018-06-30 05486219 2018-06-30 05486219 core:MotorVehicles 2018-07-01 2019-06-30 05486219 bus:Director1 2018-07-01 2019-06-30 05486219 bus:Director2 2018-07-01 2019-06-30 05486219 core:MotorVehicles 2018-06-30 05486219 core:MotorVehicles 2019-06-30 05486219 core:WithinOneYear 2019-06-30 05486219 core:WithinOneYear 2018-06-30 05486219 core:AfterOneYear 2019-06-30 05486219 core:AfterOneYear 2018-06-30 05486219 core:ShareCapital 2019-06-30 05486219 core:ShareCapital 2018-06-30 05486219 core:RetainedEarningsAccumulatedLosses 2019-06-30 05486219 core:RetainedEarningsAccumulatedLosses 2018-06-30 05486219 core:MotorVehicles 2018-06-30 05486219 bus:SmallEntities 2018-07-01 2019-06-30 05486219 bus:AuditExempt-NoAccountantsReport 2018-07-01 2019-06-30 05486219 bus:FullAccounts 2018-07-01 2019-06-30 05486219 bus:SmallCompaniesRegimeForAccounts 2018-07-01 2019-06-30 05486219 bus:PrivateLimitedCompanyLtd 2018-07-01 2019-06-30
COMPANY REGISTRATION NUMBER: 05486219
P S Lighting Solutions Limited
Filleted Unaudited Financial Statements
30 June 2019
P S Lighting Solutions Limited
Statement of Financial Position
30 June 2019
2019
2018
Note
£
£
£
Fixed assets
Tangible assets
5
31,514
26,455
Current assets
Stocks
31,186
120,169
Debtors
6
129,421
67,310
Cash at bank and in hand
147,221
146,005
---------
---------
307,828
333,484
Creditors: amounts falling due within one year
7
76,224
109,926
---------
---------
Net current assets
231,604
223,558
---------
---------
Total assets less current liabilities
263,118
250,013
Creditors: amounts falling due after more than one year
8
5,266
6,827
---------
---------
Net assets
257,852
243,186
---------
---------
Capital and reserves
Called up share capital
73
73
Profit and loss account
257,779
243,113
---------
---------
Shareholders funds
257,852
243,186
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 30 June 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
P S Lighting Solutions Limited
Statement of Financial Position (continued)
30 June 2019
These financial statements were approved by the board of directors and authorised for issue on 21 February 2020 , and are signed on behalf of the board by:
Mr P Samuel
Mr S Samuel
Director
Director
Company registration number: 05486219
P S Lighting Solutions Limited
Notes to the Financial Statements
Year ended 30 June 2019
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 37 Oxford Street, Pontycymer, BRIDGEND, CF32 8DD, UK.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
888
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
-
25% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
4. Employee numbers
The average number of persons employed by the company during the year amounted to Nil (2018: Nil).
5. Tangible assets
Motor vehicles
Total
£
£
Cost
At 1 July 2018
45,793
45,793
Additions
15,564
15,564
--------
--------
At 30 June 2019
61,357
61,357
--------
--------
Depreciation
At 1 July 2018
19,338
19,338
Charge for the year
10,505
10,505
--------
--------
At 30 June 2019
29,843
29,843
--------
--------
Carrying amount
At 30 June 2019
31,514
31,514
--------
--------
At 30 June 2018
26,455
26,455
--------
--------
6. Debtors
2019
2018
£
£
Trade debtors
104,735
25,662
Other debtors
24,686
41,648
---------
--------
129,421
67,310
---------
--------
7. Creditors: amounts falling due within one year
2019
2018
£
£
Trade creditors
52,613
108,650
Corporation tax
4,555
–
Social security and other taxes
19,056
1,276
--------
---------
76,224
109,926
--------
---------
8. Creditors: amounts falling due after more than one year
2019
2018
£
£
Other creditors
5,266
6,827
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