Precious Mess Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11427054 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 21 JUNE 2018 TO 30 JUNE 2019

FOR

PRECIOUS MESS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J M Trafford

I Trafford

REGISTERED OFFICE:

Odd House Odd House Lane

Bretherton

Leyland

United Kingdom

PR26 9BF

REGISTERED NUMBER:

11427054 (England and Wales)

ACCOUNTANTS:

Fairhurst

Chartered Accountants

Douglas Bank House

Wigan Lane

Wigan

Lancashire

WN1 2TB

FIXED ASSETS

Tangible assets

3

521

CURRENT ASSETS

Stocks

792

Cash in hand

2

794

CREDITORS

Amounts falling due within one year

4

4,357

NET CURRENT LIABILITIES

(3,563

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(3,042

)

CAPITAL AND RESERVES

Called up share capital

2

Retained earnings

(3,044

)

SHAREHOLDERS' FUNDS

(3,042

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 June 2019.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 June 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 28 February 2020 and were signed on its behalf by:

J M Trafford - Director

1.	STATUTORY INFORMATION

Precious Mess 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.

The company is dependent on the continuing support both financial and management of it's directors and

shareholders, who have confirmed their intention to do so for the coming 12 months.

Tangible fixed assets

Tangible fixed assets are stated at cost less depreciation and impairment.

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value

of each asset over its estimated useful life.

Plant & machinery

-

25% on reducing balance

Stocks

Stocks and work in progress have been valued at the lower of cost and estimated selling price less costs to sell.

Financial instruments

Trade and other debtors are initially recognised at the transaction price and thereafter stated at amortised cost

using effective interest method, less impairment losses for bad and doubtful debts except where the effect of

discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad

and doubtful debts.

Short term trade creditors are measured at transaction price. Financial liabilities that have no stated interest rate

and are payable within one year shall be measured at the undiscounted amount due.

Taxation

Taxation for the period 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 period 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.

Impairment of assets

At each reporting date assets are reviewed to determine whether there is any indication that those assets have

suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any

affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower,

the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised

immediately in the profit and loss.

Where an impairment loss subsequently reverses, the carrying amount of each asset is increased to the revised

estimate of its recoverable amount, to the extent that the increased carrying amount does not exceed the carrying

amount that would have been determined (net of depreciation) had no impairment loss been recognised for the

asset in prior years. A reversal of an impairment loss is recognised as income immediately.

3.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

Additions

556

At 30 June 2019

556

DEPRECIATION

Charge for period

35

At 30 June 2019

35

NET BOOK VALUE

At 30 June 2019

521

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Directors' current accounts

3,457

Accrued expenses

900

4,357