Pilkingtons (Accrington) Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 02346720 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2016

for

Pilkingtons (Accrington) Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

A Pilkington

SECRETARY:

A Pilkington

REGISTERED OFFICE:

22 - 28 Willow Street

Accrington

Lancashire

BB5 1LP

REGISTERED NUMBER:

02346720 (England and Wales)

ACCOUNTANTS:

Mayes Business Partnership Ltd

Chartered Certified Accountants

22-28 Willow Street

Accrington

Lancashire

BB5 1LP

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

205,436

94,274

205,436

94,274

CURRENT ASSETS

Stocks

12,996

13,651

Debtors

146,271

101,247

Cash at bank and in hand

56,604

63,356

215,871

178,254

CREDITORS

Amounts falling due within one year

75,823

56,414

NET CURRENT ASSETS

140,048

121,840

TOTAL ASSETS LESS CURRENT LIABILITIES

345,484

216,114

CREDITORS

Amounts falling due after more than one year

(71,779

)

-

PROVISIONS FOR LIABILITIES

(39,823

)

(18,747

)

NET ASSETS

233,882

197,367

CAPITAL AND RESERVES

Called up share capital

100

100

Share premium

413,419

413,419

Retained earnings

(179,637

)

(216,152

)

SHAREHOLDERS' FUNDS

233,882

197,367

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2016 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the director on 19 July 2017 and were signed by:

A Pilkington - Director

1.	STATUTORY INFORMATION

Pilkingtons (Accrington) Limited 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of ten years.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property

-

10% on reducing balance

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% 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.

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

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 23 .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2016

and 31 December 2016

401,200

AMORTISATION

At 1 January 2016

and 31 December 2016

401,200

NET BOOK VALUE

At 31 December 2016

-

At 31 December 2015

-

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2016

232,993

Additions

176,311

Disposals

(2,800

)

At 31 December 2016

406,504

DEPRECIATION

At 1 January 2016

138,719

Charge for year

63,678

Eliminated on disposal

(1,329

)

At 31 December 2016

201,068

NET BOOK VALUE

At 31 December 2016

205,436

At 31 December 2015

94,274

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals

£

COST

Additions

107,693

At 31 December 2016

107,693

DEPRECIATION

Charge for year

26,923

At 31 December 2016

26,923

NET BOOK VALUE

At 31 December 2016

80,770

6.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2016 and

31 December 2015:

31/12/16

31/12/15

£

£

A Pilkington

Balance outstanding at start of year

38,509

38,509

Amounts advanced

11,256

5,539

Amounts repaid

(37,668

)

(5,539

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

12,097

38,509

Interest has been charged on the overdrawn directors loan account at 3.00%.