Company Registration No. 9918039 (England and Wales)
Poplars (Leyland) Limited
Unaudited accounts
for the year ended 31 March 2021
Poplars (Leyland) Limited
Unaudited accounts
Contents
Poplars (Leyland) Limited
Company Information
for the year ended 31 March 2021
Directors
Geoff Hope
Vanda Hope
Company Number
9918039 (England and Wales)
Registered Office
7 Peel Hill
Preston New Road
Blackpool
FY4 5JP
Accountants
Ambledene Accountancy
Cotton Court
Church Street
Preston
PR1 3BY
Poplars (Leyland) Limited
Statement of financial position
as at 31 March 2021
Intangible assets
3,975
51,675
Tangible assets
555,633
565,478
Cash at bank and in hand
191,031
65,121
Creditors: amounts falling due within one year
(257,522)
(230,721)
Net current liabilities
(51,409)
(159,829)
Total assets less current liabilities
508,199
457,324
Creditors: amounts falling due after more than one year
(488,388)
(509,075)
Net assets/(liabilities)
19,811
(51,751)
Called up share capital
2
2
Profit and loss account
19,809
(51,753)
Shareholders' funds
19,811
(51,751)
For the year ending 31 March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 29 April 2021 and were signed on its behalf by
Vanda Hope
Director
Company Registration No. 9918039
Poplars (Leyland) Limited
Notes to the Accounts
for the year ended 31 March 2021
Poplars (Leyland) Limited is a private company, limited by shares, registered in England and Wales, registration number 9918039. The registered office is 7 Peel Hill, Preston New Road, Blackpool, FY4 5JP.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The directors have not identified any material uncertainties related to events or conditions (including the COVID-19 pandemic) that may cast significant doubt about the company's ability to continue as a going concern in spite of the net liability position.
The directors have agreed to provide the company with such financial support as is necessary for the company to continue in operation for the foreseeable future.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Government grants received in relation to the various coronavirus support measures are credited to the profit and loss account when received and are disclosed as other operating income not netted off the relevant expenditure that the grants were designed to support.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Intangible fixed assets - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 5 years.
Poplars (Leyland) Limited
Notes to the Accounts
for the year ended 31 March 2021
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
The directors consider that the current residual value of the freehold property is at least equal to its cost and consequently no depreciation has been provided in the period.
The depreciation rates applied to other tangible fixed assets are as follows:
Plant & machinery
20% reducing balance
Computer equipment
33.3% straight line
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
4
Intangible fixed assets
Other
Charge for the year
47,700
5
Tangible fixed assets
Land & buildings
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2020
516,253
100,374
3,526
620,153
At 31 March 2021
516,253
100,374
3,526
620,153
At 1 April 2020
-
51,149
3,526
54,675
Charge for the year
-
9,845
-
9,845
At 31 March 2021
-
60,994
3,526
64,520
At 31 March 2021
516,253
39,380
-
555,633
At 31 March 2020
516,253
49,225
-
565,478
Poplars (Leyland) Limited
Notes to the Accounts
for the year ended 31 March 2021
Trade debtors
14,932
5,771
Accrued income and prepayments
150
-
Total debtors less than one year
15,082
5,771
Total debtors
15,082
5,771
7
Creditors: amounts falling due within one year
2021
2020
Bank loans and overdrafts
45,895
45,891
Trade creditors
1,879
12,247
Taxes and social security
38,517
22,026
Other creditors
2,389
6,126
Loans from directors
107,643
144,431
8
Creditors: amounts falling due after more than one year
2021
2020
Bank loans
488,388
509,075
Aggregate of amounts that fall due for payment after five years
258,811
279,619
Bank loans payable within and after more than one year amounting to £534,183 (2020: £554,966) are secured.
9
Average number of employees
During the year the average number of employees was 24 (2020: 25).
