Protective Coating Systems (UK) Ltd - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 04386104 (England and Wales)

Financial Statements

for the Year Ended 31 March 2017

for

Protective Coating Systems (UK) Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

D G Hopkins

SECRETARY:

Mrs L M Hopkins

REGISTERED OFFICE:

The Old Post Office

41-43 Market Place

Chippenham

Wiltshire

SN15 3HR

REGISTERED NUMBER:

04386104 (England and Wales)

ACCOUNTANTS:

Mander Duffill

Chartered Accountants

The Old Post Office

41-43 Market Place

Chippenham

Wiltshire

SN15 3HR

FIXED ASSETS

Tangible assets

4

36,726

47,577

CURRENT ASSETS

Stocks

500

660

Debtors

5

114,983

62,511

Cash at bank

110,308

146,783

225,791

209,954

CREDITORS

Amounts falling due within one year

6

92,466

63,219

NET CURRENT ASSETS

133,325

146,735

TOTAL ASSETS LESS CURRENT LIABILITIES

170,051

194,312

CREDITORS

Amounts falling due after more than one year

7

(3,734

)

(9,748

)

PROVISIONS FOR LIABILITIES

(6,978

)

(9,040

)

NET ASSETS

159,339

175,524

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

159,239

175,424

SHAREHOLDERS' FUNDS

159,339

175,524

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 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.

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 14 December 2017 and were signed by:

D G Hopkins - Director

1.	STATUTORY INFORMATION

Protective Coating Systems (UK) 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on reducing balance, 25% on cost and 15% 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2016 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2016

98,108

Additions

977

At 31 March 2017

99,085

DEPRECIATION

At 1 April 2016

50,531

Charge for year

11,828

At 31 March 2017

62,359

NET BOOK VALUE

At 31 March 2017

36,726

At 31 March 2016

47,577

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases

are as follows:

Plant and

machinery

etc

£

COST

At 1 April 2016

and 31 March 2017

52,721

DEPRECIATION

At 1 April 2016

17,390

Charge for year

8,833

At 31 March 2017

26,223

NET BOOK VALUE

At 31 March 2017

26,498

At 31 March 2016

35,331

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Trade debtors

94,661

41,803

Other debtors

20,322

20,708

114,983

62,511

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Trade creditors

43,359

19,672

Other creditors

49,107

43,547

92,466

63,219

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.17

31.3.16

£

£

Other creditors

3,734

9,748