Pearse Products Group Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 03286510 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2016

FOR

Pearse Products Group Limited

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

6

Directors:

K Pearse

N Pearse

Secretary:

K Pearse

Registered office:

The Garden House

Heathfield Down

Modbury

PL21 0SU

Registered number:

03286510 (England and Wales)

Accountants:

Nigel Webster & Co

129 North Hill

Plymouth

Devon

PL4 8JY

Fixed assets

Tangible assets

3

301

252

Current assets

Stocks

8,852

8,890

Debtors

4

2,808

8,616

11,660

17,506

Creditors

Amounts falling due within one year

5

70,491

62,276

Net current liabilities

(58,831

)

(44,770

)

Total assets less current liabilities

(58,530

)

(44,518

)

Creditors

Amounts falling due after more than one year

6

225,000

250,000

Net liabilities

(283,530

)

(294,518

)

Capital and reserves

Called up share capital

7

80

80

Retained earnings

(283,610

)

(294,598

)

Shareholders' funds

(283,530

)

(294,518

)

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 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors on 29 September 2017 and were signed on its behalf by:

N Pearse - Director

1.	STATUTORY INFORMATION

Pearse Products Group 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.

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 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 represents amounts receivable in respect of goods and services. Turnover is

recognised upon delivery of the product to the customer and services accrued when

provided.

Tangible fixed assets

Depreciation is calculated to write down the cost of tangible fixed assets over their expected

useful economic lives using the following rates:

Office equipment - 15% reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and

loss account, 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.

Debtors

Short term debtors are measured at transaction price (which is usually the invoice price),

less any impairment losses for bad and doubtful debts. Loans and other financial assets are

initially recognised at transaction price including any transaction costs and subsequently

measured at amortised cost determined using the effective interest method, less any

impairment losses for bad and doubtful debts.

Creditors

Short term creditors are measured at transaction price (which is usually the invoice price).

Loans and other financial liabilities are initially recognised at transaction price net of any

transaction costs and subsequently measured at amortised cost determined using the

effective interest method.

3.	TANGIBLE FIXED ASSETS

Office

equipment

£

Cost

At 1 January 2016

297

Additions

102

At 31 December 2016

399

Depreciation

At 1 January 2016

45

Charge for year

53

At 31 December 2016

98

Net book value

At 31 December 2016

301

At 31 December 2015

252

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade debtors

2,808

8,616

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Bank loans and overdrafts

3,799

2,856

Trade creditors

25,900

27,405

Taxation and social security

2,061

2,055

Other creditors

38,731

29,960

70,491

62,276

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2016

2015

£

£

Other creditors

225,000

250,000

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

80

Ordinary

£1

80

80