Potato Lane Projects Limited - Accounts to registrar (filleted) - small 18.2

Potato Lane Projects Limited - Accounts to registrar (filleted) - small 18.2

POTATO LANE PROJECTS LIMITED - Company Information

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REGISTERED NUMBER: 04395129 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

FOR

POTATO LANE PROJECTS LIMITED
POTATO LANE PROJECTS LIMITED (REGISTERED NUMBER: 04395129)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


POTATO LANE PROJECTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2022







DIRECTORS: R A Watson
A Pochin
M B Bates





REGISTERED OFFICE: 52 Colders Lane
Meltham
Holmfirth
West Yorkshire
HD9 5JL





REGISTERED NUMBER: 04395129 (England and Wales)





ACCOUNTANTS: Brosnans
Chartered Accountants
Birkby House
Bailiff Bridge
Brighouse
West Yorkshire
HD6 4JJ
Page 1
POTATO LANE PROJECTS LIMITED (REGISTERED NUMBER: 04395129)

BALANCE SHEET
31 MARCH 2022

2022 2021
Notes £    £   
FIXED ASSETS
Tangible assets 4 41,179 11,832

CURRENT ASSETS
Debtors 5 164,112 151,000
Cash at bank and in hand 571,900 576,980
736,012 727,980
CREDITORS
Amounts falling due within one year 6 (181,758 ) (219,972 )
NET CURRENT ASSETS 554,254 508,008
TOTAL ASSETS LESS CURRENT
LIABILITIES
595,433
519,840

CAPITAL AND RESERVES
Called up share capital 7 3 3
Capital redemption reserve 1 1
Retained earnings 595,429 519,836
SHAREHOLDERS' FUNDS 595,433 519,840

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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 notes form part of these financial statements

Page 2 continued...
POTATO LANE PROJECTS LIMITED (REGISTERED NUMBER: 04395129)

BALANCE SHEET - continued
31 MARCH 2022


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 27 June 2022 and were signed on its behalf by:





R A Watson - Director


The notes form part of these financial statements

Page 3
POTATO LANE PROJECTS LIMITED (REGISTERED NUMBER: 04395129)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

1. STATUTORY INFORMATION

Potato Lane Projects 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 (£).


The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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 the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 15% on cost

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.

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.


Page 4 continued...
POTATO LANE PROJECTS LIMITED (REGISTERED NUMBER: 04395129)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022

2. ACCOUNTING POLICIES - continued
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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2021 - 18 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2021 23,063
Additions 33,857
At 31 March 2022 56,920
DEPRECIATION
At 1 April 2021 11,231
Charge for year 4,510
At 31 March 2022 15,741
NET BOOK VALUE
At 31 March 2022 41,179
At 31 March 2021 11,832

Page 5 continued...
POTATO LANE PROJECTS LIMITED (REGISTERED NUMBER: 04395129)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 114,112 101,000
Other debtors 50,000 50,000
164,112 151,000

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade creditors 104,041 90,333
Taxation and social security 74,961 75,054
Other creditors 2,756 54,585
181,758 219,972

7. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
3 Ordinary £1 3 3

8. RELATED PARTY DISCLOSURES

The company is controlled by the directors.

Page 6