Poulton Service & Exhaust Centre Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04540048 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021

FOR

POULTON SERVICE & EXHAUST CENTRE LTD

Page

Company Information

1

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

Mrs S A Clements

L D Clements

Mrs N J Gisby

SECRETARY:

Mrs N J Gisby

REGISTERED OFFICE:

South Stour Offices

Roman Road

Mersham

Ashford

Kent

TN25 7HS

BUSINESS ADDRESS:

Hollow Wood Road

Poulton Industrial Estate

Coombe Valley

Dover

Kent

CT17 0UB

REGISTERED NUMBER:

04540048 (England and Wales)

ACCOUNTANTS:

Cassidys Chartered Accountants

South Stour Offices

Roman Road

Mersham

Ashford

Kent

TN25 7HS

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

247,513

248,281

247,513

248,281

CURRENT ASSETS

Stocks

12,761

8,251

Debtors

6

6,962

6,192

Cash at bank and in hand

171,126

174,474

190,849

188,917

CREDITORS

Amounts falling due within one year

7

86,039

106,405

NET CURRENT ASSETS

104,810

82,512

TOTAL ASSETS LESS CURRENT LIABILITIES

352,323

330,793

PROVISIONS FOR LIABILITIES

8

1,679

1,639

NET ASSETS

350,644

329,154

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

350,544

329,054

SHAREHOLDERS' FUNDS

350,644

329,154

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2021 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 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 24 January 2022 and were signed on its behalf by:

Mrs S A Clements - Director

1.	STATUTORY INFORMATION

Poulton Service & Exhaust Centre 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

in accordance with the property

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Government grants

Government grants are recognised in the profit and loss account on a systematic basis over the periods in which the entity recognises as expenses the related costs for which the grants are intended to compensate.

Government grants related to assets, including non-monetary grants at fair value, are presented in the statement of financial position either by setting up the grant as deferred income or by deducting the grant in arriving at the carrying amount of the asset.

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.

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 11 (2020 - 11 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 October 2020

and 30 September 2021

57,600

AMORTISATION

At 1 October 2020

and 30 September 2021

57,600

NET BOOK VALUE

At 30 September 2021

-

At 30 September 2020

-

5.	TANGIBLE FIXED ASSETS

Freehold

Plant and

Motor

property

machinery

vehicles

Totals

£

£

£

£

COST

At 1 October 2020

243,797

48,527

200

292,524

Additions

-

2,771

-

2,771

At 30 September 2021

243,797

51,298

200

295,295

DEPRECIATION

At 1 October 2020

4,880

39,226

137

44,243

Charge for year

842

2,681

16

3,539

At 30 September 2021

5,722

41,907

153

47,782

NET BOOK VALUE

At 30 September 2021

238,075

9,391

47

247,513

At 30 September 2020

238,917

9,301

63

248,281

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.21

30.9.20

£

£

Trade debtors

4,525

3,428

Other debtors

2,437

2,764

6,962

6,192

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.21

30.9.20

£

£

Trade creditors

19,888

27,040

Taxation and social security

47,047

42,440

Other creditors

19,104

36,925

86,039

106,405

8.	PROVISIONS FOR LIABILITIES

30.9.21

30.9.20

£

£

Deferred tax

1,679

1,639

Deferred

tax

£

Balance at 1 October 2020

1,639

Provided during year

40

Balance at 30 September 2021

1,679

9.	PENSION COMMITMENTS

The company operates a defined contribution scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge for the period amounts to £26,800 (2020 - £25,150) and represents contributions payable by the company to the fund.

10.	RELATED PARTY DISCLOSURES

During the year, total dividends of £79,000 (2020 - £66,000) were paid to the directors .

Mrs S Clements - Director and Shareholder

At the balance sheet date Poulton Service & Exhaust Centre Ltd owed Mrs Clements £5,625 (2020- £5,625).

11.	ULTIMATE CONTROLLING PARTY

The company is controlled by Mrs S A Clements a director who owns 60% of the issued share capital.