Precision Hygiene Ltd - Accounts to registrar - small 16.3d
Precision Hygiene Ltd - Accounts to registrar - small 16.3d
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 August 2016 |
| for |
| Precision Hygiene Ltd |
| Precision Hygiene Ltd (Registered number: 02888042) |
| Contents of the Financial Statements |
| for the Year Ended 31 August 2016 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Precision Hygiene Ltd |
| Company Information |
| for the Year Ended 31 August 2016 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Southgate House |
| 59 Magdalen Street |
| Exeter |
| Devon |
| EX2 4HY |
| Precision Hygiene Ltd (Registered number: 02888042) |
| Balance Sheet |
| 31 August 2016 |
| 31.8.16 | 31.8.15 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| 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 on by: |
| Precision Hygiene Ltd (Registered number: 02888042) |
| Notes to the Financial Statements |
| for the Year Ended 31 August 2016 |
| 1. | STATUTORY INFORMATION |
| Precision Hygiene Ltd is a |
| company's registered number and registered office address can be found on the Company Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The director has assessed going concern and considers that there are no material uncertainties which may cast |
| significant doubt about the company's ability to continue. As a result, the financial statements have been |
| prepared using the going concern basis of accounting. |
| Turnover |
| Turnover represents net invoiced sales and rentals of goods, excluding value added tax, to the extent that there |
| is a right to consideration and is recorded at the value of the consideration due. Where a contract has been only |
| partially completed at the balance sheet date turnover represents the value of the service provided to date |
| based on a proportion of the total expected consideration at completion. Where payments are received from |
| customers in advance of services provided, the amounts are recorded as Deferred Income and included as part |
| of Creditors due within one year. |
| Tangible fixed assets |
| Plant and machinery etc. | - | 25% on reducing balance, 25% on cost and 10% on cost |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and |
| slow moving items. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
| balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling |
| at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and | Rental | Motor | Computer |
| machinery | equipment | vehicles | equipment | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 September 2015 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 August 2016 |
| DEPRECIATION |
| At 1 September 2015 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 August 2016 |
| NET BOOK VALUE |
| At 31 August 2016 |
| At 31 August 2015 |
| Precision Hygiene Ltd (Registered number: 02888042) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2016 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| Fixed assets with a gross cost of £332,196 (2015 - £315,064) and accumulated depreciation of £289,129 (2015 |
| - £278,099) are held for use in operating leases. |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.8.16 | 31.8.15 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Directors' loan accounts | 10,926 | 7,471 |
| Prepayments |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.8.16 | 31.8.15 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Corporation Tax |
| Social security and other taxes |
| VAT | 26,142 | 21,787 |
| Other creditors |
| Accrued expenses |
| 7. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 31.8.16 | 31.8.15 |
| £ | £ |
| Bank overdrafts |
| The overdraft is secured by fixed and floating charges over the assets of the company. |
| 8. | OTHER FINANCIAL COMMITMENTS |
| At 31 August 2016 the company had commitments under non-cancellable operating leases totalling £18,209. |
| 9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 31 August 2016 and |
| 31 August 2015: |
| 31.8.16 | 31.8.15 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| The loan is interest free and repayable on demand. |
| 10. | RELATED PARTY DISCLOSURES |
| During the year, total dividends of £22,228 (2015 - £38,200) were paid to the directors . |
| Precision Hygiene Ltd (Registered number: 02888042) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2016 |
| 11. | ULTIMATE CONTROLLING PARTY |
| The ultimate controlling party is the director M C Gallagher by virtue of his shareholding. |