PE HU Limited Filleted accounts for Companies House (small and micro)

30 false false false false false false false false false true false false false false false false false No description of principal activity 2018-12-01 Sage Accounts Production Advanced 2020 - FRS102_2014 64,174 17,173 81,347 21,876 8,277 30,153 51,194 42,298 xbrli:pure xbrli:shares iso4217:GBP 09425163 2018-12-01 2019-11-30 09425163 2019-11-30 09425163 2018-11-30 09425163 2017-12-01 2018-11-30 09425163 2018-11-30 09425163 core:FurnitureFittings 2018-12-01 2019-11-30 09425163 bus:Director1 2018-12-01 2019-11-30 09425163 core:FurnitureFittings 2018-11-30 09425163 core:FurnitureFittings 2019-11-30 09425163 core:AfterOneYear 2019-11-30 09425163 core:AfterOneYear 2018-11-30 09425163 core:WithinOneYear 2019-11-30 09425163 core:WithinOneYear 2018-11-30 09425163 core:ShareCapital 2019-11-30 09425163 core:ShareCapital 2018-11-30 09425163 core:RetainedEarningsAccumulatedLosses 2019-11-30 09425163 core:RetainedEarningsAccumulatedLosses 2018-11-30 09425163 core:FurnitureFittings 2018-11-30 09425163 bus:SmallEntities 2018-12-01 2019-11-30 09425163 bus:AuditExemptWithAccountantsReport 2018-12-01 2019-11-30 09425163 bus:FullAccounts 2018-12-01 2019-11-30 09425163 bus:SmallCompaniesRegimeForAccounts 2018-12-01 2019-11-30 09425163 bus:PrivateLimitedCompanyLtd 2018-12-01 2019-11-30

COMPANY REGISTRATION NUMBER: 09425163

PE HU Limited

Filleted Unaudited Financial Statements

30 November 2019

PE HU Limited

Statement of Financial Position

30 November 2019

	2019		2018
Note	£	£	£

Fixed assets

Tangible assets	5		51,194	42,298

Current assets

Stocks		9,500	9,700
Debtors	6	250	2,947
Cash at bank and in hand		2,052	13,639
		--------	--------
		11,802	26,286

Creditors: amounts falling due within one year	7	81,017		47,014
		--------		--------
Net current liabilities			69,215	20,728
			--------	--------
Total assets less current liabilities			( 18,021)	21,570

Creditors: amounts falling due after more than one year	8	155,267	120,431
		---------	---------
Net liabilities		( 173,288)	( 98,861)
		---------	---------

Capital and reserves

Called up share capital	100	100
Profit and loss account	( 173,388)	( 98,961)
	---------	--------
Shareholders deficit	( 173,288)	( 98,861)
	---------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 30 November 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

PE HU Limited

Statement of Financial Position (continued)

30 November 2019

These financial statements were approved by the board of directors and authorised for issue on 26 November 2020 , and are signed on behalf of the board by:

Mr S Thompson
Director

Company registration number: 09425163

PE HU Limited

Notes to the Financial Statements

Year ended 30 November 2019

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Swallow House, Parsons Road, Washington, Tyne & Wear, NE37 1EZ.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Fixtures & Fittings	-	15% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 30 (2018: 30 ).

5. Tangible assets

	Fixtures and fittings	Total
	£	£
Cost
At 1 December 2018	64,174	64,174
Additions	17,173	17,173
	--------	--------
At 30 November 2019	81,347	81,347
	--------	--------
Depreciation
At 1 December 2018	21,876	21,876
Charge for the year	8,277	8,277
	--------	--------
At 30 November 2019	30,153	30,153
	--------	--------
Carrying amount
At 30 November 2019	51,194	51,194
	--------	--------
At 30 November 2018	42,298	42,298
	--------	--------

6. Debtors

	2019	2018
	£	£
Other debtors	250	2,947
	----	-------

7. Creditors: amounts falling due within one year

	2019	2018
	£	£
Social security and other taxes	44,961	36,478
Primo drinks	10,036	10,036
Other creditors	26,020	500
	--------	--------
	81,017	47,014
	--------	--------

8. Creditors: amounts falling due after more than one year

	2019	2018
	£	£
Bank loans and overdrafts	19,543	19,964
Other creditors	135,724	100,467
	---------	---------
	155,267	120,431
	---------	---------

9. Director's advances, credits and guarantees

Included in creditors: amounts falling due after more than one year is a directors loan balance of £135,724 (2018: £100,467).

10. Related party transactions

The company was under the control of Mr S Thompson throughout the current and previous year. Mr S Thompson is the managing director and majority shareholder. No transactions with related parties were undertaken such as are required to be disclosed under FRS102 Section 1A.