Permagard Products Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02363543

Unaudited Financial Statements for the Year Ended 31 May 2020

for

Permagard Products Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

8

DIRECTORS:

D.J. Wookey

S Wookey

SECRETARY:

A Wookey

REGISTERED OFFICE:

The Mews

Hounds Road

Chipping Sodbury

Bristol

BS37 6EE

REGISTERED NUMBER:

02363543

ACCOUNTANTS:

Dolman's Chartered Accountants

The Mews

Hounds Road

Chipping Sodbury

Bristol

BS37 6EE

FIXED ASSETS

Intangible assets

4

-

61

Tangible assets

5

463,033

443,323

463,033

443,384

CURRENT ASSETS

Stocks

170,000

159,826

Debtors

6

139,981

173,458

Cash at bank and in hand

271,813

246,915

581,794

580,199

CREDITORS

Amounts falling due within one year

7

315,099

348,247

NET CURRENT ASSETS

266,695

231,952

TOTAL ASSETS LESS CURRENT LIABILITIES

729,728

675,336

PROVISIONS FOR LIABILITIES

2,568

-

NET ASSETS

727,160

675,336

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

726,960

675,136

SHAREHOLDERS' FUNDS

727,160

675,336

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

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 December 2020 and were signed on its behalf by:

S Wookey - Director

1.	STATUTORY INFORMATION

Permagard Products Limited is a private company, limited by shares , registered in Not specified/Other. 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, excluding discounts, rebates,

value added tax and other sales taxes.

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.

Patents and licences are being amortised evenly over their estimated useful life of fifteen years.

Patents and licences

Tangible fixed assets

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

Freehold property

-

in accordance with the property

Short leasehold

-

20% on cost

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on 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.

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 11 (2019 - 11 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 June 2019

and 31 May 2020

7,093

AMORTISATION

At 1 June 2019

7,032

Charge for year

61

At 31 May 2020

7,093

NET BOOK VALUE

At 31 May 2020

-

At 31 May 2019

61

5.	TANGIBLE FIXED ASSETS

Improvements

Freehold

Short

to

Plant and

property

leasehold

property

machinery

£

£

£

£

COST

At 1 June 2019

395,271

3,050

34,316

88,225

Additions

-

-

-

-

At 31 May 2020

395,271

3,050

34,316

88,225

DEPRECIATION

At 1 June 2019

4,077

3,050

-

82,558

Charge for year

-

-

-

850

At 31 May 2020

4,077

3,050

-

83,408

NET BOOK VALUE

At 31 May 2020

391,194

-

34,316

4,817

At 31 May 2019

391,194

-

34,316

5,667

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 June 2019

26,953

31,000

30,458

609,273

Additions

-

8,700

25,446

34,146

At 31 May 2020

26,953

39,700

55,904

643,419

DEPRECIATION

At 1 June 2019

25,064

22,842

28,359

165,950

Charge for year

283

4,214

9,089

14,436

At 31 May 2020

25,347

27,056

37,448

180,386

NET BOOK VALUE

At 31 May 2020

1,606

12,644

18,456

463,033

At 31 May 2019

1,889

8,158

2,099

443,323

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

32,316

49,538

Other debtors

107,665

123,920

139,981

173,458

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

232,485

231,130

Taxation and social security

61,800

81,593

Other creditors

20,814

35,524

315,099

348,247

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2020

2019

£

£

Within one year

33,294

27,932

Between one and five years

130,130

109,374

163,424

137,306

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2020 and 31 May 2019:

2020

2019

£

£

D.J. Wookey

Balance outstanding at start of year

-

-

Amounts advanced

910

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

910

-

The loan is unsecured, interest free, and repayable on demand.

The following reproduces the text of the report prepared for the directors 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 Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial

statements of Permagard Products Limited for the year ended 31 May 2020 which comprise the Income Statement, Balance

Sheet and the related notes from the company's accounting records and from information and explanations you have given

us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Permagard Products Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Permagard Products Limited and state those matters that we have agreed to state to the Board of Directors of Permagard Products Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Permagard Products Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Permagard Products Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Permagard Products Limited. You consider that Permagard Products Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Permagard Products Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Dolman's Chartered Accountants

The Mews

Hounds Road

Chipping Sodbury

Bristol

BS37 6EE

Date: .............................................