Priceright Developments Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05771689 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2019

FOR

PRICERIGHT DEVELOPMENTS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr V Menelaou

REGISTERED OFFICE:

Solar House

282 Chase Road

London

N14 6NZ

REGISTERED NUMBER:

05771689 (England and Wales)

ACCOUNTANTS:

Freemans Partnership LLP

Chartered Certified Accountants

Solar House

282 Chase Road

London

N14 6NZ

FIXED ASSETS

Tangible assets

4

395

527

CURRENT ASSETS

Stocks

5

296,630

268,780

Debtors

6

221,588

81,946

Cash at bank and in hand

1,941

2,379

520,159

353,105

CREDITORS

Amounts falling due within one year

7

173,646

124,982

NET CURRENT ASSETS

346,513

228,123

TOTAL ASSETS LESS CURRENT LIABILITIES

346,908

228,650

CREDITORS

Amounts falling due after more than one year

8

-

19,918

NET ASSETS

346,908

208,732

CAPITAL AND RESERVES

Called up share capital

9

400

400

Retained earnings

346,508

208,332

SHAREHOLDERS' FUNDS

346,908

208,732

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 April 2020 and were signed by:

Mr V Menelaou - Director

1.	STATUTORY INFORMATION

Priceright Developments 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 represents amounts derived from the provision of services to customers during the year, and is

recognised at the date the service was provided. This is stated after trade discounts, other sales taxes and net of

VAT.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures fittings & equipment

-

25% on reducing balance

Stocks

Stocks 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 Statement of Income and

Retained Earnings, 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2018 - 1 ).

4.	TANGIBLE FIXED ASSETS

Fixtures

fittings

& equipment

£

COST

At 1 May 2018

and 30 April 2019

7,062

DEPRECIATION

At 1 May 2018

6,535

Charge for year

132

At 30 April 2019

6,667

NET BOOK VALUE

At 30 April 2019

395

At 30 April 2018

527

5.

STOCKS

30.4.19

30.4.18

£

£

Stocks and works in progress

296,630

268,780

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.19

30.4.18

£

£

Related company

198,744

77,900

VAT

22,844

4,046

221,588

81,946

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.19

30.4.18

£

£

Bank loans and overdrafts

594

-

Amount due to related company

85,352

79,620

Tax

44,323

200

Social security and other taxes

9,408

23,034

Directors' current accounts

6,621

-

Accrued expenses

27,348

22,128

173,646

124,982

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.4.19

30.4.18

£

£

Directors loans

-

19,918

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.4.19

30.4.18

value:

£

£

300

Ordinary A share

£1

300

300

100

Ordinary B share

£1

100

100

400

400