Palatine Howe Drive Limited - Accounts to registrar (filleted) - small 17.3
Palatine Howe Drive Limited - Accounts to registrar (filleted) - small 17.3
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2017 |
| FOR |
| PALATINE HOWE DRIVE LIMITED |
| PALATINE HOWE DRIVE LIMITED (REGISTERED NUMBER: 08946692) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the Year Ended 31 March 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| PALATINE HOWE DRIVE LIMITED |
| COMPANY INFORMATION |
| for the Year Ended 31 March 2017 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Herschel House |
| 58 Herschel Street |
| Slough |
| Berkshire |
| SL1 1PG |
| PALATINE HOWE DRIVE LIMITED (REGISTERED NUMBER: 08946692) |
| BALANCE SHEET |
| 31 March 2017 |
| 31.3.17 | 31.3.16 |
| Notes | £ | £ |
| CURRENT ASSETS |
| Stocks |
| Debtors | 3 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 4 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| 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 |
| PALATINE HOWE DRIVE LIMITED (REGISTERED NUMBER: 08946692) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the Year Ended 31 March 2017 |
| 1. | STATUTORY INFORMATION |
| Palatine Howe Drive Limited is a |
| 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 |
| After making enquiries, the directors have a reasonable expectation that the company has adequate resources to |
| continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period |
| of at least twelve months from the date these financial statements were approved. Accordingly they continue to |
| adopt the going concern basis in preparing the financial statements. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
| moving items. |
| Financial instruments |
| Basic Financial Instruments as covered by Section 11 of FRS 102 are measured at amortised cost. The company |
| does not have any Other Financial Instruments as covered by Section 12 of FRS 102. |
| 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. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.3.17 | 31.3.16 |
| £ | £ |
| Amounts owed by group undertakings |
| Other debtors |
| PALATINE HOWE DRIVE LIMITED (REGISTERED NUMBER: 08946692) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 March 2017 |
| 4. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.3.17 | 31.3.16 |
| £ | £ |
| Trade creditors |
| Amounts owed to group undertakings |
| Taxation and social security | ( |
) |
| Other creditors & accruals |
| 5. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
| During the year the director provided funding to the company to meet its working capital requirements, and at the |
| balance sheet date the amount due to the director was £302,234. The loan is interest free, has no repayment date |
| and no repayment schedule. |
| 6. | RELATED PARTY DISCLOSURES |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The |
| Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party |
| transactions with wholly owned subsidiaries within the group. |
| 7. | ULTIMATE CONTROLLING PARTY |
| The controlling party is Mr S C Phillips. |
| 8. | FIRST YEAR ADOPTION |
| The company adopted FRS 102 for the accounting year 30 June 2017. There were no adjustments arising at the |
| transition date or at the end of the comparative period, therefore there is no difference between equity under the |
| previous financial reporting framework and equity under FRS 102 |