Paulex Environmental Limited 31/12/2020 iXBRL
Paulex Environmental Limited 31/12/2020 iXBRL
Company registration number:
05179744
Unaudited filleted financial statements
PAULEX ENVIRONMENTAL LIMITED
Contents
Statement of financial position
Notes to the financial statements
PAULEX ENVIRONMENTAL LIMITED
STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2020
2020 | 2019 | ||||||||
Note | £ | £ | £ | £ | |||||
Fixed assets | |||||||||
Intangible assets | 5 |
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- | ||||||
Tangible assets | 6 |
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- | ||||||
_______ | _______ | ||||||||
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- | ||||||||
Current assets | |||||||||
Stocks |
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- | |||||||
Debtors | 7 |
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Cash at bank and in hand |
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- | |||||||
_______ | _______ | ||||||||
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Creditors: amounts falling due | |||||||||
within one year | 8 |
(
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- | ||||||
_______ | _______ | ||||||||
Net current assets |
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|||||||
_______ | _______ | ||||||||
Total assets less current liabilities |
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Provisions for liabilities |
(
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- | |||||||
_______ | _______ | ||||||||
Net assets |
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_______ | _______ | ||||||||
Capital and reserves | |||||||||
Called up share capital |
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Profit and loss account | 9 |
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- | ||||||
_______ | _______ | ||||||||
Shareholders funds |
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_______ | _______ | ||||||||
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
29 September 2021
, and are signed on behalf of the board by:
Director
Company registration number:
05179744
PAULEX ENVIRONMENTAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2020
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 7 Topsham Units, Dart Business Park, Clyst St George, Exeter, EX3 0QH.
Principal activity
The principal activity of the company during the year was the provision of spill kits and storage solutions.
Commencement of trade
The company commenced trade on 9 March 2020.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Judgements and key sources of estimation uncertainty
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
Goodwill
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at a revalued amount, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are recorded at the fair value at the acquisition date.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill | - | 10 years on cost |
Combined other intangible assets | - | 2 years on cost |
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery | - | 15% reducing balance | |
Fittings, fixtures and equipment | - | 1/3 on cost | |
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Provisions
Financial instruments
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
2
(2019:
1
).
5.
Intangible assets
Goodwill | Other intangible assets | Total | ||
£ | £ | £ | ||
Cost | ||||
At 1 January 2020 | - | - | - | |
Additions | 1 | 195 | 196 | |
_______ | _______ | _______ | ||
At 31 December 2020 |
|
|
|
|
_______ | _______ | _______ | ||
Amortisation | ||||
At 1 January 2020 | - | - | - | |
Charge for the year | - |
|
|
|
_______ | _______ | _______ | ||
At 31 December 2020 | - |
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|
|
_______ | _______ | _______ | ||
Carrying amount | ||||
At 31 December 2020 |
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|
|
|
_______ | _______ | _______ | ||
At 31 December 2019 | - | - | - | |
_______ | _______ | _______ | ||
6.
Tangible assets
Plant and machinery | Fixtures, fittings and equipment | Total | ||
£ | £ | £ | ||
Cost | ||||
At 1 January 2020 | - | - | - | |
Additions | 2,724 | 384 | 3,108 | |
_______ | _______ | _______ | ||
At 31 December 2020 |
|
|
|
|
_______ | _______ | _______ | ||
Depreciation | ||||
At 1 January 2020 | - | - | - | |
Charge for the year |
|
|
|
|
_______ | _______ | _______ | ||
At 31 December 2020 |
|
|
|
|
_______ | _______ | _______ | ||
Carrying amount | ||||
At 31 December 2020 |
|
|
|
|
_______ | _______ | _______ | ||
At 31 December 2019 | - | - | - | |
_______ | _______ | _______ | ||
7.
Debtors
2020 | 2019 | |||
£ | £ | |||
Trade debtors |
|
- | ||
Other debtors |
|
|
||
_______ | _______ | |||
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|
|||
_______ | _______ | |||
8.
Creditors: amounts falling due within one year
2020 | 2019 | |||
£ | £ | |||
Trade creditors |
|
- | ||
Accruals and deferred income |
|
- | ||
Social security and other taxes | 1,220 | (-) | ||
Other creditors | 17,754 | (-) | ||
_______ | _______ | |||
|
- | |||
_______ | _______ | |||
9.
Reserves
10.
Directors
advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company: | |||||
Loans to / (from) directors at 1 January 2020 | Loans to / (from) the directors | Amounts repaid | Balance at 31 December 2020 | ||
£ | £ | £ | £ | ||
|
- |
(
|
|
(
|
|
_______ | _______ | _______ | _______ | ||
Loans to / (from) directors at 1 January 2019 | Loans to / (from) the directors | Amounts repaid | Balance at 31 December 2019 | ||
£ | £ | £ | £ | ||
|
- | - | - | - | |
_______ | _______ | _______ | _______ | ||