Parc Canol Ltd - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 06486709 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2017

for

Parc Canol Ltd

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

Directors:

Dr B N Purbey

Dr G Marsh

Dr H L W Davies

Dr K I Burkhardt

Dr P Howarth

Dr T P O'Leary

Secretary:

Dr H L W Davies

Registered office:

69 Parc-y-Bryn

Cardiff

South Glamorgan

CF15 9SE

Registered number:

06486709 (England and Wales)

Accountants:

BYB Accountancy Ltd

Incorporated Financial Accountants

The Old Bank

46-48 Cardiff Road

Llandaff

Cardiff

South Glamorgan

CF5 2DT

Fixed assets

Tangible assets

4

9,623

11,321

Current assets

Stocks

46,000

46,000

Debtors

5

234,544

153,960

Cash at bank and in hand

10,030

58

290,574

200,018

Creditors

Amounts falling due within one year

6

179,560

144,388

Net current assets

111,014

55,630

Total assets less current liabilities

120,637

66,951

Creditors

Amounts falling due after more than one year

7

62,254

75,893

Net assets/(liabilities)

58,383

(8,942

)

Capital and reserves

Called up share capital

104

104

Retained earnings

58,279

(9,046

)

Shareholders' funds

58,383

(8,942

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 1 December 2017 and were signed on its behalf by:

Dr K I Burkhardt - Director

1.	STATUTORY INFORMATION

Parc Canol 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.

Fixtures and fittings

-

15% on cost

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 statement of financial position date.

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.

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 10 .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

Cost

At 1 April 2016

and 31 March 2017

32,393

4,950

5,773

43,116

Depreciation

At 1 April 2016

21,073

4,950

5,772

31,795

Charge for year

1,698

-

-

1,698

At 31 March 2017

22,771

4,950

5,772

33,493

Net book value

At 31 March 2017

9,622

-

1

9,623

At 31 March 2016

11,320

-

1

11,321

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

210,740

134,793

Other debtors

23,804

19,167

234,544

153,960

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

14,500

14,655

Trade creditors

138,141

123,715

Taxation and social security

21,797

401

Other creditors

5,122

5,617

179,560

144,388

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Bank loans

62,254

75,893

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

62,254

75,893