P M Finishers Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04084093 (England and Wales)

P M FINISHERS LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2020

Page

Company Information

1

Report of the Accountants

2

Balance Sheet

3

Notes to the Financial Statements

4

to

6

DIRECTOR:

Mr P D Molloy

SECRETARY:

Mrs B R Molloy

REGISTERED OFFICE:

31 St John's

Worcester

Worcestershire

WR2 5AG

BUSINESS ADDRESS:

The Hideaway

Kings End Road

Powick

Worcester

WR2 2RA

REGISTERED NUMBER:

04084093 (England and Wales)

ACCOUNTANTS:

Gardiner Fosh

Chartered Accountants and Statutory Auditor

31 St John's

Worcester

Worcestershire

WR2 5AG

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial

statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are

cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be

filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 March 2020 set out on pages four to nine and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Gardiner Fosh

Chartered Accountants and Statutory Auditor

31 St John's

Worcester

Worcestershire

WR2 5AG

30 September 2020

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

7,104

9,094

Investments

6

182,100

-

189,204

9,094

CURRENT ASSETS

Stocks

-

389

Debtors

7

770

37,255

Cash at bank

19,139

3,852

19,909

41,496

CREDITORS

Amounts falling due within one year

8

187,723

1,396

NET CURRENT (LIABILITIES)/ASSETS

(167,814

)

40,100

TOTAL ASSETS LESS CURRENT LIABILITIES

21,390

49,194

CAPITAL AND RESERVES

Called up share capital

127,848

127,848

Retained earnings

(106,458

)

(78,654

)

21,390

49,194

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 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 30 September 2020 and were signed by:

Mr P D Molloy - Director

1.	STATUTORY INFORMATION

P M Finishers Ltd 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.	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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

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.

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 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2019

and 31 March 2020

75,000

AMORTISATION

At 1 April 2019

and 31 March 2020

75,000

NET BOOK VALUE

At 31 March 2020

-

At 31 March 2019

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2019

and 31 March 2020

61,225

DEPRECIATION

At 1 April 2019

52,131

Charge for year

1,990

At 31 March 2020

54,121

NET BOOK VALUE

At 31 March 2020

7,104

At 31 March 2019

9,094

6.	FIXED ASSET INVESTMENTS

Interest

in joint

venture

£

COST

Additions

182,100

At 31 March 2020

182,100

NET BOOK VALUE

At 31 March 2020

182,100

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

360

36,470

Other debtors

410

785

770

37,255

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

-

(2

)

Taxation and social security

(87

)

(87

)

Other creditors

187,810

1,485

187,723

1,396