Porcelain Stones Limited - Accounts to registrar - small 17.2

Porcelain Stones Limited - Accounts to registrar - small 17.2

PORCELAIN STONES LIMITED - Company Information

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REGISTERED NUMBER: 08717863 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2017

for

Porcelain Stones Limited

Porcelain Stones Limited (Registered number: 08717863)






Contents of the Financial Statements
for the Year Ended 31 July 2017




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Porcelain Stones Limited

Company Information
for the Year Ended 31 July 2017







DIRECTOR: Mrs H Hendi





REGISTERED OFFICE: 8B Accommodation Road
Golders Green
London
NW11 8ED





REGISTERED NUMBER: 08717863 (England and Wales)





ACCOUNTANTS: Faiz & Co. Limited
Chartered Accountants
8B Accommodation Road
London
NW11 8ED
Page 1
Porcelain Stones Limited (Registered number: 08717863)

Balance Sheet
31 July 2017

31/7/17 31/7/16
Notes £    £   
CURRENT ASSETS
Stocks 1,378,979 662,960
Debtors 4 79,559 65,939
Cash at bank 197,098 71,794
1,655,636 800,693
CREDITORS
Amounts falling due within one year 5 1,523,716 712,187
NET CURRENT ASSETS 131,920 88,506
TOTAL ASSETS LESS CURRENT
LIABILITIES
131,920
88,506

CREDITORS
Amounts falling due after more than one
year
6
9,149
-
NET ASSETS 122,771 88,506

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 122,770 88,505
SHAREHOLDERS' FUNDS 122,771 88,506

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 notes form part of these financial statements

Page 2 continued...
Porcelain Stones Limited (Registered number: 08717863)

Balance Sheet - continued
31 July 2017


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 Income Statement has not been delivered.

The financial statements were approved by the director on 30 November 2017 and were signed by:





Mrs H Hendi - Director


The notes form part of these financial statements

Page 3
Porcelain Stones Limited (Registered number: 08717863)

Notes to the Financial Statements
for the Year Ended 31 July 2017

1. STATUTORY INFORMATION

Porcelain Stones 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 .

Page 4 continued...
Porcelain Stones Limited (Registered number: 08717863)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2017

4. DEBTORS
31/7/17 31/7/16
£    £   
Amounts falling due within one year:
Trade debtors 40,319 17,024
Other debtors 30,091 48,915
70,410 65,939

Amounts falling due after more than one year:
Other debtors 9,149 -

Aggregate amounts 79,559 65,939

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/7/17 31/7/16
£    £   
Trade creditors 544,501 263,676
Taxation and social security 20,589 14,855
Other creditors 958,626 433,656
1,523,716 712,187

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31/7/17 31/7/16
£    £   
Other creditors 9,149 -

7. RELATED PARTY DISCLOSURES

Total dividends of £33K were issued during the year.

8. ULTIMATE CONTROLLING PARTY

The company is controlled by the director by virtue of 100% shareholding.

Page 5