Pinemark Projects Ltd - Limited company accounts 18.2

REGISTERED NUMBER: 07341367

Report of the Director and

Unaudited Financial Statements for the Year Ended 31 August 2019

for

Pinemark Projects Ltd

Page

Company Information

1

Report of the Director

2

Statement of Income and Retained Earnings

3

Balance Sheet

4

Notes to the Financial Statements

5

DIRECTOR:

S J Crayford

SECRETARY:

REGISTERED OFFICE:

Unit C3

Knights Park Industrial Estate

Knight Road

Rochester

Kent

ME2 2LS

REGISTERED NUMBER:

07341367

ACCOUNTANTS:

I.B.C.

Unit C3,

Knights Park Industrial Estate,

Knight Road,

Rochester,

Kent,

ME2 2LS.

The director presents his report with the financial statements of the company for the year ended 31 August 2019.

DIRECTOR

S J Crayford held office during the whole of the period from 1 September 2018 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small

companies.

ON BEHALF OF THE BOARD:

S J Crayford - Director

15 May 2020

TURNOVER

632,975

618,247

Cost of sales

479,487

446,723

GROSS PROFIT

153,488

171,524

Administrative expenses

131,074

121,917

OPERATING PROFIT and

PROFIT BEFORE TAXATION

22,414

49,607

Tax on profit

4,516

8,502

PROFIT FOR THE FINANCIAL YEAR

17,898

41,105

Retained earnings at beginning of year

81,042

45,937

Dividends

5

(20,000

)

(6,000

)

RETAINED EARNINGS AT END OF YEAR

78,940

81,042

FIXED ASSETS

Tangible assets

6

7,705

10,273

Investments

7

63

63

7,768

10,336

CURRENT ASSETS

Stocks

13,000

13,250

Debtors

8

4,600

4,900

Cash at bank

129,233

151,584

146,833

169,734

CREDITORS

Amounts falling due within one year

9

75,561

98,928

NET CURRENT ASSETS

71,272

70,806

TOTAL ASSETS LESS CURRENT LIABILITIES

79,040

81,142

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

78,940

81,042

SHAREHOLDERS' FUNDS

79,040

81,142

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 in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the director on 15 May 2020 and were signed by:

S J Crayford - Director

1.	STATUTORY INFORMATION

Pinemark Projects Ltd is a private company, limited by shares , registered in Not specified/Other. 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.

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 XXX.

**PLEASE COMPLETE CLIENT SCREEN WITH DETAILS

4.	OPERATING PROFIT

The operating profit is stated after charging:

31.8.19

31.8.18

£

£

Depreciation - owned assets

2,568

3,426

5.

DIVIDENDS

31.8.19

31.8.18

£

£

Final

20,000

6,000

6.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 September 2018

and 31 August 2019

25,620

2,420

13,585

1,540

43,165

DEPRECIATION

At 1 September 2018

22,237

2,179

7,301

1,175

32,892

Charge for year

846

60

1,571

91

2,568

At 31 August 2019

23,083

2,239

8,872

1,266

35,460

NET BOOK VALUE

At 31 August 2019

2,537

181

4,713

274

7,705

At 31 August 2018

3,383

241

6,284

365

10,273

7.	FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:

31.8.19

31.8.18

£

£

Incorporation Costs

63

63

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.19

31.8.18

£

£

Trade debtors

4,600

4,900

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.19

31.8.18

£

£

Trade creditors

56,999

56,419

Tax

4,516

8,502

VAT

9,485

7,771

Directors' loan accounts

561

20,516

Accruals and deferred income

4,000

5,720

75,561

98,928