PATSEMPIRE LTD - Accounts to registrar - small 17.1

REGISTERED NUMBER: 08607699 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 July 2016

for

PATSEMPIRE LTD

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

P Patel

REGISTERED OFFICE:

65 Park Royal Road

London

London

NW10 7JJ

REGISTERED NUMBER:

08607699 (England and Wales)

ACCOUNTANTS:

Williams Chartered Accountants

Jade House

67 Park Royal Road

London

NW10 7JJ

FIXED ASSETS

Tangible assets

4

88,948

-

CURRENT ASSETS

Stocks

5

7,650

-

Debtors

6

12,410

-

Cash at bank and in hand

59,054

1

79,114

1

CREDITORS

Amounts falling due within one year

7

32,830

-

NET CURRENT ASSETS

46,284

1

TOTAL ASSETS LESS CURRENT LIABILITIES

135,232

1

CREDITORS

Amounts falling due after more than one year

8

(126,085

)

-

PROVISIONS FOR LIABILITIES

9

(8,633

)

-

NET ASSETS

514

1

CAPITAL AND RESERVES

Called up share capital

10

1

1

Retained earnings

11

513

-

SHAREHOLDERS' FUNDS

514

1

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director on 28 April 2017 and were signed by:

P Patel - Director

1.	STATUTORY INFORMATION

PATSEMPIRE 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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.

Tangible fixed assets

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

Plant & machinery

-

15% on reducing balance

Fixtures & fittings

-

20% on reducing balance

Office equipment

-

20% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position date.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 .

4.	TANGIBLE FIXED ASSETS

Short

Plant &

Fixtures

Office

leasehold

machinery

& fittings

equipment

Totals

£

£

£

£

£

COST

Additions

6,175

87,973

5,306

106

99,560

At 31 July 2016

6,175

87,973

5,306

106

99,560

DEPRECIATION

Charge for year

-

9,820

776

16

10,612

At 31 July 2016

-

9,820

776

16

10,612

NET BOOK VALUE

At 31 July 2016

6,175

78,153

4,530

90

88,948

5.

STOCKS

31.7.16

31.7.15

£

£

Stocks

7,650

-

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.16

31.7.15

£

£

Trade debtors

1,315

-

Other debtors

4,150

-

Subway West London Ltd

5,000

-

VAT account

1,238

-

Prepayments

707

-

12,410

-

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.16

31.7.15

£

£

Other loans

22,250

-

Trade creditors

319

-

Other creditors

6,361

-

Accrued expenses

3,900

-

32,830

-

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.7.16

31.7.15

£

£

Other loans more 5yrs instal

126,085

-

Amounts falling due in more than five years:

Repayable by instalments

Other loans more 5yrs instal

126,085

-

9.	PROVISIONS FOR LIABILITIES

31.7.16

31.7.15

£

£

Other provisions

Rent free period

8,633

-

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.16

31.7.15

value:

£

£

1

Ordinary Share

£1

1

1

11.

RESERVES

Retained

earnings

£

Profit for the year

9,013

Dividends

(8,500

)

At 31 July 2016

513

12.	RELATED PARTY DISCLOSURES

During the year the director, Mr Pratik Patel, was paid a dividend of £8,500 ( 2015- nil) in the capacity of

shareholder.

At the balance sheet date Subway West London Ltd, of which Mr Pratik Patel is also a director, owed the

company £5,000 (2015 - nil).

13.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party of the company is the director, Mr Pratik Patel, by virtue of his 100% holding of

the company's issued shares.