The Period House Store Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05592197 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2019

FOR

THE PERIOD HOUSE STORE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Certified Accountants' Report

7

DIRECTORS:

A Harburn

Ms S E Pickering

SECRETARY:

Ms S E Pickering

REGISTERED OFFICE:

3-7 Simpson's Buildings

Borough Road

Gallowfields Trading Estate

Richmond

North Yorkshire

DL10 4SX

REGISTERED NUMBER:

05592197 (England and Wales)

ACCOUNTANTS:

Momentum Taxation and Accountancy Ltd

Harelands Courtyard Offices

Moor Road

Melsonby

Richmond

North Yorkshire

DL10 5NY

FIXED ASSETS

Tangible assets

4

6,724

26,492

CURRENT ASSETS

Stocks

9,350

13,250

Debtors

5

69,837

94,590

Cash at bank and in hand

52,955

44,512

132,142

152,352

CREDITORS

Amounts falling due within one year

6

128,050

157,952

NET CURRENT ASSETS/(LIABILITIES)

4,092

(5,600

)

TOTAL ASSETS LESS CURRENT LIABILITIES

10,816

20,892

CREDITORS

Amounts falling due after more than one year

7

(9,000

)

(13,000

)

PROVISIONS FOR LIABILITIES

(1,278

)

(5,033

)

NET ASSETS

538

2,859

CAPITAL AND RESERVES

Called up share capital

10

10

Retained earnings

528

2,849

SHAREHOLDERS' FUNDS

538

2,859

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2019 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 29 October 2020 and were signed on its behalf by:

A Harburn - Director

Ms S E Pickering - Director

1.	STATUTORY INFORMATION

The Period House Store Limited 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.

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.

Tangible fixed assets

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

Plant and machinery etc

-

25% 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.

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.

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 6 (2018 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2019

66,288

Additions

2,144

Disposals

(25,625

)

At 31 December 2019

42,807

DEPRECIATION

At 1 January 2019

39,796

Charge for year

2,342

Eliminated on disposal

(6,055

)

At 31 December 2019

36,083

NET BOOK VALUE

At 31 December 2019

6,724

At 31 December 2018

26,492

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

23,047

29,452

Other debtors

46,790

65,138

69,837

94,590

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts

4,000

4,083

Trade creditors

88,543

127,802

Taxation and social security

31,773

21,303

Other creditors

3,734

4,764

128,050

157,952

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Bank loans

9,000

13,000

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the year ended 31 December 2019 and the period ended 31 December 2018:

2019

2018

£

£

A Harburn and Ms S E Pickering

Balance outstanding at start of year

64,083

3,582

Amounts advanced

90,662

120,616

Amounts repaid

(107,955

)

(60,115

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

46,790

64,083

All advances to the directors are repayable on demand and interest is charged at the official rate published by HM Revenue and Customs.

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 The Period House Store Limited for the year ended 31 December 2019 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of The Period House Store 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 The Period House Store Limited and state those matters that we have agreed to state to the Board of Directors of The Period House Store Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that The Period House Store 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 The Period House Store Limited. You consider that The Period House Store 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 The Period House Store 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.

Momentum Taxation and Accountancy Ltd

Harelands Courtyard Offices

Moor Road

Melsonby

Richmond

North Yorkshire

DL10 5NY

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