Pc Cables (UK) Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06609755 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 June 2020

for

Pc Cables (UK) Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

N C Fordham

SECRETARY:

R Kelly

REGISTERED OFFICE:

142 Culver Road

Basingstoke

Hampshire

RG21 3NL

REGISTERED NUMBER:

06609755 (England and Wales)

ACCOUNTANTS:

Kelly & Associates

7 Brackenwood

Sunbury on Thames

Middlesex

TW16 6SQ

CURRENT ASSETS

Stocks

10,043

14,475

Debtors

4

83,082

37,539

Cash at bank

7,711

2,479

100,836

54,493

CREDITORS

Amounts falling due within one year

5

108,446

92,393

NET CURRENT LIABILITIES

(7,610

)

(37,900

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(7,610

)

(37,900

)

CAPITAL AND RESERVES

Called up share capital

6

100

100

Retained earnings

(7,710

)

(38,000

)

SHAREHOLDERS' FUNDS

(7,610

)

(37,900

)

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 director acknowledges his 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 director and authorised for issue on 19 May 2021 and were signed by:

N C Fordham - Director

1.	STATUTORY INFORMATION

Pc Cables (UK) 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.

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 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.

Going concern basis

These financial statements have been prepared on a going concern basis, on the understanding that the director and shareholder will continue to financially support the company for the foreseeable future.

3.	EMPLOYEES AND DIRECTORS

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

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.20

30.6.19

£

£

Trade debtors

5,197

16,211

Amounts owed by group undertakings

47,885

21,328

Director's loan

30,000

-

83,082

37,539

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.20

30.6.19

£

£

Trade creditors

(159

)

570

Tax

1

1

VAT

108,079

91,297

Accruals and deferred income

525

525

108,446

92,393

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.20

30.6.19

value:

£

£

100

Ordinary

£1

100

100

7.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2020 and 30 June 2019:

30.6.20

30.6.19

£

£

N C Fordham

Balance outstanding at start of year

-

-

Amounts advanced

30,000

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

30,000

-

The loan was advanced in May/June 2020 and repaid in October 2020.

8.	RELATED PARTY DISCLOSURES

During the year under review the company bought products for resale and other services worth £262,792 ( 2019 £279,775) from Games Galaxy Limited, a company associated with the director. The transactions were carried out at market value.