Prestwich Plastering Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02177164 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2020

FOR

PRESTWICH PLASTERING LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

5

DIRECTORS:

O M Hetta

Miss N Shah

SECRETARY:

Miss N Shah

REGISTERED OFFICE:

Vanguard House

Merchants Quay

Salford Quays

Salford

Gtr Manchester

M50 3ST

REGISTERED NUMBER:

02177164 (England and Wales)

ACCOUNTANTS:

Allens Accountants Limited

Chartered Accountants

123 Wellington Road South

Stockport

Cheshire

SK1 3TH

FIXED ASSETS

Tangible assets

4

13,097

21,146

CURRENT ASSETS

Debtors

181,911

601,171

Cash at bank

1,422,200

941,937

1,604,111

1,543,108

CREDITORS

Amounts falling due within one year

985,411

969,412

NET CURRENT ASSETS

618,700

573,696

TOTAL ASSETS LESS CURRENT LIABILITIES

631,797

594,842

CAPITAL AND RESERVES

Called up share capital

5

100

100

Retained earnings

631,697

594,742

SHAREHOLDERS' FUNDS

631,797

594,842

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2020 in accordance with Section 444(2A) of the Companies Act 2006.

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 Board of Directors and authorised for issue on 26 June 2020 and were signed on its behalf by:

O M Hetta - Director

1.	STATUTORY INFORMATION

Prestwich Plastering 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 is measured at the fair value of the consideration received or receivable, net of discounts and value

added taxes. Turnover includes revenue earned from the rendering of services.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.

The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to

the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the

outcome of a contract cannot be estimated reliably.

Tangible fixed assets

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

Improvements to property

-

15% on cost and 15% on reducing balance

Motor vehicles

-

25% on cost

Computer equipment

-

25% on cost

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2019 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2019

173,013

Additions

2,677

At 31 March 2020

175,690

DEPRECIATION

At 1 April 2019

151,867

Charge for year

10,726

At 31 March 2020

162,593

NET BOOK VALUE

At 31 March 2020

13,097

At 31 March 2019

21,146

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/3/20

31/3/19

value:

£

£

90

Ordinary

1

90

90

10

Ordinary A

1

10

10

100

100

6.	ULTIMATE CONTROLLING PARTY

The controlling party is O M Hetta.