Pimmers Elite Upholstery & Curtains Limited
Pimmers Elite Upholstery & Curtains Limited
Unaudited Financial Statements
For The Year Ended
31 March 2020
Blue Cloud Accounting Solutions Limited
128 Saltergate
Chesterfield
Derbyshire
S40 1NG
Pimmers Elite Upholstery & Curtains Limited
Unaudited Financial Statements
For The Year Ended
31 March 2020
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—5 |
Pimmers Elite Upholstery & Curtains Limited
Balance Sheet
As at
31 March 2020
Balance Sheet
Registered number:
04914084
For the year ending 31 March 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
| 2020 | 2019 | ||||
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 4 |
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| CURRENT ASSETS | |||||
| Stocks | 5 |
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| Debtors | 6 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 7 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| PROVISIONS FOR LIABILITIES | |||||
| Deferred Taxation |
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| NET LIABILITIES |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 8 |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | (9,805) | (4,703) | |||
Page 1
Pimmers Elite Upholstery & Curtains Limited
Balance Sheet (continued)
As at
31 March 2020
Directors' responsibilities:
-
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. -
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. -
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime. - The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
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Director
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The notes on pages 3 to 5 form part of these financial statements.
Page 2
Pimmers Elite Upholstery & Curtains Limited
Notes to the Financial Statements
For The Year Ended
31 March 2020
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
1.2.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of VAT and trade discounts.
1.3.
Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
1.4.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Leasehold |
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| Plant & Machinery |
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| Motor Vehicles |
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| Office & Computer Equipment |
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1.5.
Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
1.6.
Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
1.7.
Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.
Average Number of Employees
Average number of employees, including directors, during the year was as follows: 3 (2019: 3)
Page 3
Pimmers Elite Upholstery & Curtains Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 March 2020
3.
Intangible Assets
| Goodwill | |||
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| Cost | |||
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| Amortisation | |||
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| Net Book Value | |||
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4.
Tangible Assets
| Land & Property | |||||
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| Leasehold | Plant & Machinery | Motor Vehicles | Office & Computer Equipment | Total | |
| £ | £ | £ | £ | £ | |
| Cost | |||||
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| Additions |
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| Depreciation | |||||
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| Provided during the period |
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| Net Book Value | |||||
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5.
Stocks
| 2020 | 2019 | ||
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| £ | £ | ||
| Stock - materials |
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| Stock - work in progress |
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Page 4
Pimmers Elite Upholstery & Curtains Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 March 2020
6.
Debtors
| 2020 | 2019 | ||
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| £ | £ | ||
| Due within one year | |||
| Prepayments and accrued income |
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| Other debtors |
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7.
Creditors: Amounts Falling Due Within One Year
| 2020 | 2019 | ||
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| £ | £ | ||
| Trade creditors |
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| Other taxes and social security |
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| VAT |
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| Net wages | 786 | 791 | |
| Other creditors |
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| Accruals and deferred income |
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| Directors' loan accounts |
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9.
Pension Commitments
The company operates a defined contribution pension scheme for it's employees. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date unpaid contributions of £171.45 (PY £0) were due to the fund. They are included in Other Creditors.
10.
General Information
Pimmers Elite Upholstery & Curtains Limited
Registered number
04914084
is a limited by shares company incorporated in England & Wales. The Registered Office is 391 - 395 Hasland Road, Chesterfield, Derbyshire, S41 0AQ.
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