Pretarchi Limited - Period Ending 2020-02-29
Pretarchi Limited - Period Ending 2020-02-29
Registration number:
Pretarchi Limited
for the Year Ended 29 February 2020
Pretarchi Limited
Contents
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Company Information |
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Accountants' Report |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Pretarchi Limited
Company Information
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Directors |
Mr I R Faley-Black Mrs S J Faley-Black |
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Registered office |
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Accountants |
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Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Pretarchi Limited
for the Year Ended 29 February 2020
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Pretarchi Limited for the year ended 29 February 2020 as set out on pages 3 to 9 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 at
http://www.icaew.com/regulation.
This report is made solely to the Board of Directors of Pretarchi Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Pretarchi Limited and state those matters that we have agreed to state to the Board of Directors of Pretarchi Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Pretarchi Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Pretarchi Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Pretarchi Limited. You consider that Pretarchi 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 accounts of Pretarchi 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 accounts.
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6 Houndiscombe Road
Plymouth
Devon
PL4 6HH
Pretarchi Limited
(Registration number: 08878390)
Balance Sheet as at 29 February 2020
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2020 |
2019 |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
( |
( |
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Provisions for liabilities |
- |
( |
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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
( |
( |
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Shareholders' deficit |
( |
( |
Pretarchi Limited
(Registration number: 08878390)
Balance Sheet as at 29 February 2020
For the financial year ending 29 February 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Director
Pretarchi Limited
Notes to the Unaudited Financial Statements for the Year Ended 29 February 2020
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General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
United Kingdom
The principal place of business is:
Camelot Hotel
5 Elliot Street
Plymouth
Devon
PL1 2PP
United Kingdom
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared using the historic cost convention. The financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Going concern
The accounts have been prepared on a going concern basis as the directors continue to provide financial support when necessary to the company. The directors have also reviewed the position for 12 months from the date the accounts were approved and in their opinion the company will reduce the balance sheet deficiency and will show positive results for the next financial period.
Tax
The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Pretarchi Limited
Notes to the Unaudited Financial Statements for the Year Ended 29 February 2020
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Freehold property |
2% straight line |
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Fixtures & fittings |
20% reducing balance |
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Motor vehicles |
25% reducing balance |
Goodwill
Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
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Asset class |
Amortisation method and rate |
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Goodwill |
10 years straight line |
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Pretarchi Limited
Notes to the Unaudited Financial Statements for the Year Ended 29 February 2020
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Intangible assets |
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Goodwill |
Total |
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Cost or valuation |
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At 1 March 2019 |
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At 29 February 2020 |
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Amortisation |
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At 1 March 2019 |
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Amortisation charge |
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At 29 February 2020 |
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Carrying amount |
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At 29 February 2020 |
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At 28 February 2019 |
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Pretarchi Limited
Notes to the Unaudited Financial Statements for the Year Ended 29 February 2020
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Tangible assets |
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Land and buildings |
Furniture, fittings and equipment |
Motor vehicles |
Property, plant |
Total |
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Cost or valuation |
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At 1 March 2019 |
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Additions |
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- |
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At 29 February 2020 |
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Depreciation |
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At 1 March 2019 |
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Charge for the year |
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At 29 February 2020 |
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Carrying amount |
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At 29 February 2020 |
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At 28 February 2019 |
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Pretarchi Limited
Notes to the Unaudited Financial Statements for the Year Ended 29 February 2020
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Debtors |
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2020 |
2019 |
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Other debtors |
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Creditors |
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2020 |
2019 |
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Due within one year |
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Trade creditors |
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Accruals and deferred income |
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Other creditors |
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