Peterborough Office Supplies Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05711494 (England and Wales)

Unaudited Financial Statements

for the Year Ended 28 February 2021

for

Peterborough Office Supplies Limited

Page

Chartered accountants' report

1

Statement of financial position

2

to

3

Notes to the financial statements

4

to

7

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of financial position. Readers are cautioned that the Income statement and certain other primary statements and the Report of the directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Peterborough Office Supplies Limited for the year ended 28 February 2021 which comprise the Income statement, Statement of financial position and the related notes 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Peterborough Office Supplies Limited, as a body, in accordance with the terms of our engagement letter dated 15 March 2019. Our work has been undertaken solely to prepare for your approval the financial statements of Peterborough Office Supplies Limited and state those matters that we have agreed to state to the Board of Directors of Peterborough Office Supplies Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Peterborough Office Supplies Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Peterborough Office Supplies Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Peterborough Office Supplies Limited. You consider that Peterborough Office Supplies 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 financial statements of Peterborough Office Supplies 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 financial statements.

Moore Thompson

6 May 2021

Fixed assets

Intangible assets

5

48,375

58,050

Tangible assets

6

22,356

25,377

70,731

83,427

Current assets

Stocks

22,549

16,986

Debtors

7

112,597

161,826

Cash at bank

450,989

413,833

586,135

592,645

Creditors

Amounts falling due within one year

8

198,686

218,991

Net current assets

387,449

373,654

Total assets less current liabilities

458,180

457,081

Creditors

Amounts falling due after more than one year

9

(7,305

)

(10,305

)

Provisions for liabilities

(2,826

)

(3,126

)

Accruals and deferred income

(3,730

)

(3,655

)

Net assets

444,319

439,995

Capital and reserves

Called up share capital

100

100

Retained earnings

444,219

439,895

444,319

439,995

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2021 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 6 May 2021 and were signed on its behalf by:

R Olejniczak - Director

Mrs T Olejniczak - Director

1.	Statutory information

Peterborough Office Supplies Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

05711494

Registered office:

Bank Chambers

27a Market Place

Market Deeping

Peterborough

Cambridgeshire

PE6 8EA

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

2.	Statement of compliance

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.

3.	Accounting policies

Basis of preparing the financial statements

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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of twenty 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.

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 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4.	Employees and directors

The average number of employees during the year was 9 (2020 - 9 ) .

5.	Intangible fixed assets

Goodwill

£

Cost

At 1 March 2020

and 28 February 2021

193,500

Amortisation

At 1 March 2020

135,450

Charge for year

9,675

At 28 February 2021

145,125

Net book value

At 28 February 2021

48,375

At 29 February 2020

58,050

6.	Tangible fixed assets

Plant and

machinery

etc

£

Cost

At 1 March 2020

59,167

Additions

5,400

Disposals

(17,083

)

At 28 February 2021

47,484

Depreciation

At 1 March 2020

33,790

Charge for year

5,805

Eliminated on disposal

(14,467

)

At 28 February 2021

25,128

Net book value

At 28 February 2021

22,356

At 29 February 2020

25,377

7.

Debtors: amounts falling due within one year

2021

2020

£

£

Trade debtors

110,455

161,826

Other debtors

2,142

-

112,597

161,826

8.

Creditors: amounts falling due within one year

2021

2020

£

£

Hire purchase contracts (see note 10)

3,000

3,000

Trade creditors

61,295

70,736

Taxation and social security

37,420

35,285

Other creditors

96,971

109,970

198,686

218,991

9.

Creditors: amounts falling due after more than one year

2021

2020

£

£

Hire purchase contracts (see note 10)

7,305

10,305

10.	Leasing agreements

Minimum lease payments fall due as follows:

Hire purchase contracts

2021

2020

£

£

Net obligations repayable:

Within one year

3,000

3,000

Between one and five years

7,305

10,305

10,305

13,305

Non-cancellable

operating leases

2021

2020

£

£

Within one year

9,600

9,600