General Information
Pro Vapours (Merseyside) Limited is a private company, limited by shares, registered in England and Wales, registration number 09314661, registration address Penny Lane Business Centre, 374 Smithdown Road, Liverpool, Merseyside, L15 5AN
The presentation currency is £ sterling.
| 1. |
Accounting policies
Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared on the going concern basis and under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sale taxes.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
| Plant and Machinery |
25% Reducing Balance
|
| Fixtures and Fittings |
25% Reducing Balance
|
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
|
| 2. |
Tangible fixed assets
| Cost or valuation |
Plant and Machinery |
|
Fixtures and Fittings |
|
Total |
| |
£ |
|
£ |
|
£ |
| At 01 December 2018 |
5,000 |
|
348 |
|
5,348 |
| Additions |
- |
|
- |
|
- |
| Disposals |
- |
|
- |
|
- |
| At 30 November 2019 |
5,000 |
|
348 |
|
5,348 |
| Depreciation |
| At 01 December 2018 |
3,418 |
|
238 |
|
3,656 |
| Charge for year |
395 |
|
27 |
|
422 |
| On disposals |
- |
|
- |
|
- |
| At 30 November 2019 |
3,813 |
|
265 |
|
4,078 |
| Net book values |
| Closing balance as at 30 November 2019 |
1,187 |
|
83 |
|
1,270 |
| Opening balance as at 01 December 2018 |
1,582 |
|
110 |
|
1,692 |
|
| 3. |
Stocks
|
2019
£ |
|
2018
£ |
| Stocks |
13,790 |
|
4,000 |
|
13,790 |
|
4,000 |
|
| 4. |
Debtors: amounts falling due within one year
|
2019
£ |
|
2018
£ |
| Other Debtors |
- |
|
974 |
|
- |
|
974 |
|
| 5. |
Creditors: amount falling due within one year
|
2019
£ |
|
2018
£ |
| PAYE & Social Security |
- |
|
648 |
| Accrued Expenses |
500 |
|
500 |
| Directors' Current Accounts |
15,240 |
|
15,239 |
| VAT |
1,766 |
|
3,561 |
|
17,506 |
|
19,948 |
|
| 6. |
Share Capital
Authorised
1 Ordinary share of £1.00 each
Allotted, called up and fully paid
|
2019
£ |
|
2018
£ |
|
1
Ordinary share of £1.00 each |
1 |
|
1 |
|
1 |
|
1 |
|
| 7. |
Average number of employees
The average monthly number of employees, including directors, during the year was 3 (2018 : 3)
|
2
|
