Pentangle Automation Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10813753 (England and Wales)

PENTANGLE AUTOMATION LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2020

Page

Company Information

1

Statement of Financial Position

2

to

3

Notes to the Financial Statements

4

to

6

DIRECTORS:

M Paterson

T M Colling

SECRETARY:

M Paterson

REGISTERED OFFICE:

4 Henley Way

Doddington Road

Lincoln

Lincolnshire

LN6 3QR

REGISTERED NUMBER:

10813753 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

4 Henley Way

Doddington Road

Lincoln

Lincolnshire

LN6 3QR

FIXED ASSETS

Tangible assets

4

28,537

30,280

CURRENT ASSETS

Stocks

111,708

-

Debtors

5

46,786

131,651

Cash at bank and in hand

127,886

55,636

286,380

187,287

CREDITORS

Amounts falling due within one year

6

173,592

95,277

NET CURRENT ASSETS

112,788

92,010

TOTAL ASSETS LESS CURRENT LIABILITIES

141,325

122,290

CREDITORS

Amounts falling due after more than one year

7

(13,754

)

(21,779

)

PROVISIONS FOR LIABILITIES

(5,422

)

(5,148

)

NET ASSETS

122,149

95,363

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

122,049

95,263

SHAREHOLDERS' FUNDS

122,149

95,363

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 March 2021 and were signed on its behalf by:

M Paterson - Director

1.	STATUTORY INFORMATION

Pentangle Automation 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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

-

straight line over 3 years and 25% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 statement of financial position date.

Deferred tax

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

Going concern

Following the impact of Covid-19, these accounts have been prepared on a going concern basis, on the understanding that the directors and shareholders will continue to financially support the company during this uncertain period.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the statement of financial

position. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those

held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is

shorter.

The interest element of these obligations is charged to the income statement over the relevant period. The

capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the income statement on a straight line basis over the

period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2019 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 July 2019

40,299

Additions

8,454

At 30 June 2020

48,753

DEPRECIATION

At 1 July 2019

10,019

Charge for year

10,197

At 30 June 2020

20,216

NET BOOK VALUE

At 30 June 2020

28,537

At 30 June 2019

30,280

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

46,050

130,863

Other debtors

736

788

46,786

131,651

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Hire purchase contracts

7,738

8,024

Trade creditors

93,394

8,923

Taxation and social security

52,287

48,954

Other creditors

20,173

29,376

173,592

95,277

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Hire purchase contracts

13,754

21,779

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

10

Ordinary

£10

100

100