Peter Howe WinDors Limited Filleted accounts for Companies House (small and micro)

PETER HOWE WINDORS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 05346331

Peter Howe WinDors Limited

Filleted Unaudited Financial Statements

For the year ended

31 December 2020

Peter Howe WinDors Limited

Financial Statements

Year ended 31 December 2020

Contents	Page

Officers and professional advisers	1

Statement of financial position	2

Notes to the financial statements	4

Peter Howe WinDors Limited

Officers and Professional Advisers

Director	Mr P Howe

Registered office	550 Valley Road
	Basford
	Nottingham
	NG5 1JJ

Accountants	Swandec
	Chartered Accountants
	550 Valley Road
	Basford
	Nottingham
	NG5 1JJ

Bankers	National Westminster
	19 High Road
	Beeston
	Nottingham
	NG9 2JX

Peter Howe WinDors Limited

Statement of Financial Position

31 December 2020

	2020		2019
Note	£	£	£

Fixed assets

Intangible assets	3	7,267	9,084
Tangible assets	4	134	179
		------	------
		7,401	9,263

Current assets

Debtors	5	74	–
Cash at bank and in hand		20,353	18,982
		--------	--------
		20,427	18,982

Creditors: amounts falling due within one year	6	9,025		10,355
		--------		--------
Net current assets			11,402	8,627
			--------	--------
Total assets less current liabilities			18,803	17,890
			--------	--------
Net assets			18,803	17,890
			--------	--------

Capital and reserves

Called up share capital	7	1	1
Profit and loss account		18,802	17,889
		--------	--------
Shareholders funds		18,803	17,890
		--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.

For the year ending 31 December 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Peter Howe WinDors Limited

Statement of Financial Position (continued)

31 December 2020

These financial statements were approved by the board of directors and authorised for issue on 15 September 2021 , and are signed on behalf of the board by:

Mr P Howe
Director

Company registration number: 05346331

Peter Howe WinDors 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 550 Valley Road, Basford, Nottingham, NG5 1JJ.

2. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

The turnover shown in the profit and loss account represents amounts invoiced for work carried out during the year, exclusive of Value Added Tax.

Income tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more or a right to pay less tax. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

Goodwill

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

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	-	5% straight line

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

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

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:

	Fixtures & Fittings	-	25% reducing balance

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

3. Intangible assets

	Goodwill
	£
Cost
At 1 January 2020 and 31 December 2020	36,333
	--------
Amortisation
At 1 January 2020	27,249
Charge for the year	1,817
	--------
At 31 December 2020	29,066
	--------
Carrying amount
At 31 December 2020	7,267
	--------
At 31 December 2019	9,084
	--------

4. Tangible assets

	Fixtures and fittings	Total
	£	£
Cost
At 1 January 2020 and 31 December 2020	1,426	1,426
	------	------
Depreciation
At 1 January 2020	1,247	1,247
Charge for the year	45	45
	------	------
At 31 December 2020	1,292	1,292
	------	------
Carrying amount
At 31 December 2020	134	134
	------	------
At 31 December 2019	179	179
	------	------

5. Debtors

	2020	2019
	£	£
Other debtors	74	–
	----	----

6. Creditors: amounts falling due within one year

	2020	2019
	£	£
Corporation tax	1,120	1,822
Social security and other taxes	–	282
Other creditors	7,905	8,251
	------	--------
	9,025	10,355
	------	--------

7. Called up share capital

Issued, called up and fully paid

	2020		2019
	No.	£	No.	£
Ordinary shares of £ 1 each	1	1	1	1
	----	----	----	----

8. Director's advances, credits and guarantees

At the statement of financial position the company owed the director £7,185 (2019:£7,531). The directors loan account is unsecured, interest free and repayable on demand.