Pretarchi Limited - Period Ending 2022-02-28
Pretarchi Limited - Period Ending 2022-02-28
Registration number:
Pretarchi Limited
for the Year Ended 28 February 2022
Pretarchi Limited
Contents
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Company Information |
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Accountants' Report |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Pretarchi Limited
Company Information
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Directors |
Mr I R Faley-Black Mrs S J Faley-Black |
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Registered office |
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Accountants |
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Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Pretarchi Limited
for the Year Ended 28 February 2022
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Pretarchi Limited for the year ended 28 February 2022 as set out on pages 3 to 10 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 at
http://www.icaew.com/regulation.
This report is made solely to the Board of Directors of Pretarchi Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Pretarchi Limited and state those matters that we have agreed to state to the Board of Directors of Pretarchi Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Pretarchi Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Pretarchi Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Pretarchi Limited. You consider that Pretarchi 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 accounts of Pretarchi 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 accounts.
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6 Houndiscombe Road
Plymouth
Devon
PL4 6HH
Pretarchi Limited
(Registration number: 08878390)
Balance Sheet as at 28 February 2022
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Note |
2022 |
(As restated) |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Current assets |
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Stocks |
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- |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
100 |
100 |
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Retained earnings |
(575,798) |
(507,308) |
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Shareholders' deficit |
(575,698) |
(507,208) |
Pretarchi Limited
(Registration number: 08878390)
Balance Sheet as at 28 February 2022
For the financial year ending 28 February 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Mr I R Faley-Black
Director
Pretarchi Limited
Notes to the Unaudited Financial Statements for the Year Ended 28 February 2022
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General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
United Kingdom
The principal place of business is:
The Craft House
5 Elliot Street
Plymouth
Devon
PL1 2PP
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared using the historic cost convention. The financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Going concern
The accounts have been prepared on a going concern basis as the directors continue to provide financial support when necessary to the company. The directors have also reviewed the position for 12 months from the date the accounts were approved and in their opinion the company will reduce the balance sheet deficiency and will show positive results for the next financial period.
Pretarchi Limited
Notes to the Unaudited Financial Statements for the Year Ended 28 February 2022
Prior period errors
Depreciation brought forward has been adjusted, to remove £11,400 of depreciation that was charged on Land. Land has been restated to original cost price, and the accounting policies have been updated.
Relating to the current period disclosed in these financial statements | Relating to the prior period disclosed in these financial statements | Relating to periods before the prior period disclosed in these financial statements | |
Retained earnings brought forward | 11,400 | 9,600 | 7,800 |
Accumulated depreciation brought forward | (11,400) | (9,600) | (7,800) |
Depreciation charged in the year | - | (1,800) | (1,800) |
Revenue recognition
Turnover primarily comprises the fair value of the consideration received for the provision of hotel accomodation services in the ordinary course of the company's activities. turnover is shown net of value added tax, rebates and discounts. The company recognises revenue when the services are provided.
Government grants
Government grants are fair value of the grants received by the government to support the company in the ordinry course of the company's activities. The company recognises government grant income when the amount of grant can be reliably measured, and it is highly probable that future economic benefits of the grant will flow to the company.
Pretarchi Limited
Notes to the Unaudited Financial Statements for the Year Ended 28 February 2022
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Freehold property |
2% straight line |
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Fixtures & fittings |
20% reducing balance |
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Motor vehicles |
25% reducing balance |
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Office equipment |
25% reducing balance |
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Plant & equipment |
20% reducing balance |
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Freehold property |
No depreciation |
Goodwill
Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
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Asset class |
Amortisation method and rate |
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Goodwill |
10 years straight line |
Stocks
Stocks are stated at the lower of cost incurred and estimated selling price, of the food, beverages and consumables purchased for resale. Stock is valued on a first in first out basis.
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Pretarchi Limited
Notes to the Unaudited Financial Statements for the Year Ended 28 February 2022
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Intangible assets |
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Goodwill |
Total |
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Cost or valuation |
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At 1 March 2021 |
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At 28 February 2022 |
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Amortisation |
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At 1 March 2021 |
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Amortisation charge |
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At 28 February 2022 |
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Carrying amount |
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At 28 February 2022 |
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At 28 February 2021 |
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Pretarchi Limited
Notes to the Unaudited Financial Statements for the Year Ended 28 February 2022
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Tangible assets |
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Land and buildings |
Furniture, fittings and equipment |
Motor vehicles |
Property, plant |
Total |
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Cost or valuation |
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At 1 March 2021 |
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Additions |
- |
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- |
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At 28 February 2022 |
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Depreciation |
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At 1 March 2021 |
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Charge for the year |
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At 28 February 2022 |
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Carrying amount |
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At 28 February 2022 |
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At 28 February 2021 |
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Pretarchi Limited
Notes to the Unaudited Financial Statements for the Year Ended 28 February 2022
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Debtors |
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Current |
2022 |
2021 |
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Trade debtors |
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- |
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Prepayments |
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Other debtors |
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Creditors |
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2022 |
2021 |
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Due within one year |
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Trade creditors |
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Taxation and social security |
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- |
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Accruals and deferred income |
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Other creditors |
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