Pro Services (Herts) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09466697 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2020

FOR

PRO SERVICES (HERTS) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

K Crittenden

REGISTERED OFFICE:

Business and Technology Centre

Bessemer Drive

Stevenage

Hertfordshire

SG1 2DX

REGISTERED NUMBER:

09466697 (England and Wales)

ACCOUNTANTS:

Cook & Partners Limited

Manufactory House

Bell Lane

Hertford

Hertfordshire

SG14 1BP

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

4,333

3,733

4,333

3,733

CURRENT ASSETS

Stocks

450

1,950

Debtors

6

16,425

9,370

Cash at bank and in hand

600

589

17,475

11,909

CREDITORS

Amounts falling due within one year

7

21,666

15,224

NET CURRENT LIABILITIES

(4,191

)

(3,315

)

TOTAL ASSETS LESS CURRENT LIABILITIES

142

418

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

42

318

SHAREHOLDERS' FUNDS

142

418

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 28th January 2021 and were signed by:

K Crittenden - Director

1.	STATUTORY INFORMATION

Pro Services (Herts) 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.

The director has assessed various factors and risks affecting the company and its ability in these difficult economic times to continue to trade as a going concern. The director has not identified any material uncertainties or risks related to events or conditions that could affect the carrying values of the company's assets and liabilities as at the balance sheet date and therefore the financial statements for the year ended 31st March 2020 have been prepared using the going concern basis of accounting.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of two years.

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.

Tangible fixed assets

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

Fixtures and fittings

-

15% on cost

Motor vehicles

-

15% 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.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2019 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st April 2019

and 31st March 2020

1,500

AMORTISATION

At 1st April 2019

and 31st March 2020

1,500

NET BOOK VALUE

At 31st March 2020

-

At 31st March 2019

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1st April 2019

300

1,370

5,200

6,870

Additions

500

980

-

1,480

At 31st March 2020

800

2,350

5,200

8,350

DEPRECIATION

At 1st April 2019

90

561

2,486

3,137

Charge for year

120

353

407

880

At 31st March 2020

210

914

2,893

4,017

NET BOOK VALUE

At 31st March 2020

590

1,436

2,307

4,333

At 31st March 2019

210

809

2,714

3,733

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Other debtors

3,859

2,128

Directors' current accounts

12,566

7,242

16,425

9,370

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Bank loans and overdrafts

249

-

Tax

10,122

6,104

Social security and other taxes

2,576

2,576

VAT

3,665

3,665

Other creditors

1,165

-

Accrued expenses

3,889

2,879

21,666

15,224

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

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

2020

2019

£

£

K Crittenden

Balance outstanding at start of year

7,242

3,745

Amounts advanced

34,182

21,057

Amounts repaid

(28,858

)

(17,560

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

12,566

7,242