Packing Line Services Limited Company Accounts
Packing Line Services Limited Company Accounts
COMPANY REGISTRATION NUMBER:
2327772
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Financial Statements |
Year ended 31 December 2016
Contents |
Page |
Statement of financial position |
1 |
Notes to the financial statements |
3 |
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Statement of Financial Position |
2016 |
2015 |
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Note |
£ |
£ |
£ |
Fixed assets
Tangible assets |
5 |
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Current assets
Debtors |
6 |
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Cash at bank and in hand |
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--------- |
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Creditors: amounts falling due within one year |
7 |
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Net current assets |
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-------- |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year |
8 |
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Provisions
Taxation including deferred tax |
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-------- |
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Net assets |
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Capital and reserves
Called up share capital |
9 |
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Profit and loss account |
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Members funds |
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In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
Director's responsibilities:
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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
;
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
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Statement of Financial Position (continued) |
These financial statements were approved by the
board of directors
and authorised for issue on
18 September 2017
, and are signed on behalf of the board by:
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Director |
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Company registration number:
2327772
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Notes to the Financial Statements |
Year ended 31 December 2016
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Oaklands View, 17 Chetton Drive, Runcorn, Cheshire.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 January 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 11.
Judgements and key sources of estimation uncertainty
Revenue recognition
Income tax
Tangible assets
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 and fittings |
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Motor vehicles |
- |
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Equipment |
- |
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Impairment of fixed assets
Finance leases and hire purchase contracts
Provisions
Financial instruments
Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
4.
Employee numbers
The average number of persons employed by the company during the year, including the director, amounted to
2
(2015:
2
).
5.
Tangible assets
Fixtures and fittings |
Motor vehicles |
Equipment |
Total |
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£ |
£ |
£ |
£ |
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Cost |
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At 1 January 2016 |
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Additions |
– |
– |
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------- |
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At 31 December 2016 |
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------- |
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Depreciation |
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At 1 January 2016 |
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Charge for the year |
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------- |
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At 31 December 2016 |
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------- |
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Carrying amount |
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At 31 December 2016 |
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At 31 December 2015 |
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6.
Debtors
2016 |
2015 |
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£ |
£ |
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Trade debtors |
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Prepayments and accrued income |
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Corporation tax repayable |
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------- |
------- |
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------- |
------- |
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7.
Creditors:
amounts falling due within one year
2016 |
2015 |
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£ |
£ |
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Accruals and deferred income |
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Social security and other taxes |
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Obligations under finance leases and hire purchase contracts |
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Director loan accounts |
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-------- |
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8.
Creditors:
amounts falling due after more than one year
2016 |
2015 |
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£ |
£ |
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Obligations under finance leases and hire purchase contracts |
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------- |
------- |
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9.
Called up share capital
Authorised share capital
2016 |
2015 |
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No. |
£ |
No. |
£ |
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100 |
100 |
100 |
100 |
---- |
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Issued, called up and fully paid
2016 |
2015 |
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No. |
£ |
No. |
£ |
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100 |
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100 |
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10.
Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2016 |
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Balance brought forward |
Advances/ (credits) to the director |
Balance outstanding |
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£ |
£ |
£ |
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(
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(
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(
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-------- |
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2015 |
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Balance brought forward |
Advances/ (credits) to the director |
Balance outstanding |
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£ |
£ |
£ |
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(
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(
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(
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-------- |
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11.
Transition to FRS 102
These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 January 2015.
No transitional adjustments were required in equity or profit or loss for the year.