PVP3 Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09310058 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2019

FOR

PVP3 LIMITED

Page

Company information

1

Balance sheet

2

Notes to the financial statements

3

Director:

Mr P K Parmar

Registered office:

32 De Montfort Street

Leicester

Leicestershire

LE1 7GD

Registered number:

09310058 (England and Wales)

Accountants:

Pinnacle

Chartered Certified Accountants

& Registered Auditors

32 DeMontfort Street

Leicester

Leicestershire

LE1 7GD

FIXED ASSETS

Intangible assets

5

2,000

4,000

Property, plant and equipment

6

96,440

111,818

98,440

115,818

CURRENT ASSETS

Inventories

3,175

3,850

Debtors

7

3,422

4,100

Cash at bank and in hand

30,374

17,599

36,971

25,549

CREDITORS

Amounts falling due within one year

8

110,034

158,994

NET CURRENT LIABILITIES

(73,063

)

(133,445

)

TOTAL ASSETS LESS CURRENT LIABILITIES

25,377

(17,627

)

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

10

25,277

(17,727

)

SHAREHOLDERS' FUNDS

25,377

(17,627

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 and authorised for issue on 8 April 2020 and were signed by:

Mr P K Parmar - Director

1.	STATUTORY INFORMATION

PVP3 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

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.

Patents and licences are being amortised evenly over their estimated useful life of nil 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

-

10% on cost

Fixtures and fittings

-

10% on cost

Stocks

Inventories 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 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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2018 - 11 ) .

5.	INTANGIBLE FIXED ASSETS

Patents

and

licences

£

COST

At 1 December 2018

and 30 November 2019

10,000

AMORTISATION

At 1 December 2018

6,000

Amortisation for year

2,000

At 30 November 2019

8,000

NET BOOK VALUE

At 30 November 2019

2,000

At 30 November 2018

4,000

6.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

COST

At 1 December 2018

and 30 November 2019

9,953

143,833

153,786

DEPRECIATION

At 1 December 2018

2,967

39,001

41,968

Charge for year

995

14,383

15,378

At 30 November 2019

3,962

53,384

57,346

NET BOOK VALUE

At 30 November 2019

5,991

90,449

96,440

At 30 November 2018

6,986

104,832

111,818

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.19

30.11.18

£

£

Trade debtors

1,594

1,097

Other debtors

1,828

3,003

3,422

4,100

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.19

30.11.18

£

£

Trade creditors

8,912

21,480

Taxation and social security

17,920

17,410

Other creditors

83,202

120,104

110,034

158,994

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.11.19

30.11.18

value:

£

£

100

Ordinary shares

£1

100

100

10.

RESERVES

Retained

earnings

£

At 1 December 2018

(17,727

)

Profit for the year

43,004

At 30 November 2019

25,277

11.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At 30 November 2019, company owed £75,080 (2018 - £118,717) to Mr P Parmar (director & shareholder). The loan

is interest free and repayable on demand.

12.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr P K Parmar.