Prodem Demolition & Asbestos Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06304677 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 April 2021

for

Prodem Demolition & Asbestos Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M P Cross

S M Cross

SECRETARY:

Mrs E Cross

REGISTERED OFFICE:

Park View

16 Trafford Gardens

Nottingham

Nottinghamshire

NG8 5AL

REGISTERED NUMBER:

06304677 (England and Wales)

ACCOUNTANTS:

Bostockwhite Limited

Cabourn House

Station Street

Bingham

Nottinghamshire

NG13 8AQ

FIXED ASSETS

Intangible assets

4

4,125

8,625

Tangible assets

5

130,368

155,115

134,493

163,740

CURRENT ASSETS

Debtors

6

58,642

26,094

Cash at bank

186

186

58,828

26,280

CREDITORS

Amounts falling due within one year

7

126,403

123,821

NET CURRENT LIABILITIES

(67,575

)

(97,541

)

TOTAL ASSETS LESS CURRENT LIABILITIES

66,918

66,199

CREDITORS

Amounts falling due after more than one year

8

(44,991

)

(13,564

)

PROVISIONS FOR LIABILITIES

(21,795

)

(25,960

)

NET ASSETS

132

26,675

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

32

26,575

SHAREHOLDERS' FUNDS

132

26,675

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 15 June 2021 and were signed on its behalf by:

M P Cross - Director

1.	STATUTORY INFORMATION

Prodem Demolition & Asbestos Ltd 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.

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 2012, is being amortised evenly over its estimated useful life of ten 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.

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

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 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.

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.

3.	EMPLOYEES AND DIRECTORS

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

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 May 2020

and 30 April 2021

45,000

AMORTISATION

At 1 May 2020

36,375

Charge for year

4,500

At 30 April 2021

40,875

NET BOOK VALUE

At 30 April 2021

4,125

At 30 April 2020

8,625

5.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 May 2020

and 30 April 2021

351,220

57,718

10,853

419,791

DEPRECIATION

At 1 May 2020

207,571

46,696

10,409

264,676

Charge for year

21,548

2,755

444

24,747

At 30 April 2021

229,119

49,451

10,853

289,423

NET BOOK VALUE

At 30 April 2021

122,101

8,267

-

130,368

At 30 April 2020

143,649

11,022

444

155,115

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.21

30.4.20

£

£

Trade debtors

34,455

9,527

Other debtors

24,187

16,567

58,642

26,094

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.21

30.4.20

£

£

Bank loans and overdrafts

27,411

25,560

Hire purchase contracts

7,398

9,532

Trade creditors

42,393

43,200

Taxation and social security

5,314

717

Other creditors

43,887

44,812

126,403

123,821

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.4.21

30.4.20

£

£

Bank loans

39,442

-

Hire purchase contracts

5,549

13,564

44,991

13,564

9.	SECURED DEBTS

The following secured debts are included within creditors:

30.4.21

30.4.20

£

£

Bank overdrafts

16,853

25,560

Hire purchase contracts

12,947

23,096

29,800

48,656

The bank overdraft is secured to Lloyds TSB Bank Plc by a fixed and floating charge over all assets of the company.

Hire purchase contracts are secured on the items to which they relate.

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2021 and 30 April 2020:

30.4.21

30.4.20

£

£

M P Cross

Balance outstanding at start of year

-

-

Amounts advanced

2,839

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

2,839

-