Protective Masks Direct Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07981198 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2020

for

Protective Masks Direct Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

M Lambert

REGISTERED OFFICE:

Thatcher House

12 Mount Ephraim

Tunbridge Wells

Kent

TN4 8AS

REGISTERED NUMBER:

07981198 (England and Wales)

ACCOUNTANTS:

Ward Mackenzie Ltd

Thatcher House

12 Mount Ephraim

Tunbridge Wells

Kent

TN4 8AS

FIXED ASSETS

Tangible assets

4

2,276

1,195

CURRENT ASSETS

Stocks

5

11,000

60,000

Debtors

6

307,682

293,461

Cash at bank

236,166

-

554,848

353,461

CREDITORS

Amounts falling due within one year

7

(250,440

)

(157,284

)

NET CURRENT ASSETS

304,408

196,177

TOTAL ASSETS LESS CURRENT LIABILITIES

306,684

197,372

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

9

306,584

197,272

SHAREHOLDERS' FUNDS

306,684

197,372

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 1 December 2020 and were signed by:

M Lambert - Director

1.	STATUTORY INFORMATION

Protective Masks Direct Ltd 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.

Computer equipment - 33% on cost

Motor Vehicles - 25% on cost

STOCKS

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

DEFERRED TAX

Deferred tax is not recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date as these are considered immaterial.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2019 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 April 2019

5,866

Additions

1,968

At 31 March 2020

7,834

DEPRECIATION

At 1 April 2019

4,671

Charge for year

887

At 31 March 2020

5,558

NET BOOK VALUE

At 31 March 2020

2,276

At 31 March 2019

1,195

5.

STOCKS

2020

2019

£

£

Stocks

11,000

60,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

THL Marketing

307,682

293,461

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Bank loans and overdrafts

-

14,996

Corporation tax

26,317

8,984

VAT

40,333

4,732

Directors' current accounts

177,354

125,404

Accrued expenses

6,436

3,168

250,440

157,284

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

100

Ordinary

1

100

100

9.

RESERVES

Retained

earnings

£

At 1 April 2019

197,272

Profit for the year

111,312

Dividends

(2,000

)

At 31 March 2020

306,584

10.	RELATED PARTY DISCLOSURES

At 31 March 2020 the company was owed £307,682 (2019: £293,461) from THL Marketing, a firm also under the control of director Mr M Lambert.

Also, during the year, wages of £16,457 (2019 : £18,095) were paid to H Lambert and £14,199 (2019 : £15,546) to T Lambert, family members of director Mr M Lambert.

11.	POST BALANCE SHEET EVENTS

Since the year end, the Coronavirus (COVID-19) has emerged globally resulting in a significant impact on businesses worldwide. As a result some business operations have been restricted, however the company continues to operate using alternative methods and remote working. The directors are unable to evaluate the overall financial impact on the business at present. Hence financial statements do not include any adjustments that might result from the outcome of this uncertainty. The directors are continuing to monitor, assess and act to the current changing environment in order to position the company to ensure its future success.

12.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the director Mr M Lambert.