Premier Blinds Limited Company Accounts

Premier Blinds Limited Company Accounts

PREMIER BLINDS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 04753770
Premier Blinds Limited
Filleted Unaudited Financial Statements
Year ended
31 March 2017
Premier Blinds Limited
Financial Statements
Year ended 31 March 2017
Contents
Page
Statement of financial position
1
Notes to the financial statements
2
Premier Blinds Limited
Statement of Financial Position
31 March 2017
2017
2016
Note
£
£
£
£
Current assets
Debtors
6
–
808
Cash at bank and in hand
2,519
11,126
-------
--------
2,519
11,934
Creditors: amounts falling due within one year
7
29,007
38,422
--------
--------
Net current liabilities
26,488
26,488
--------
--------
Total assets less current liabilities
( 26,488)
( 26,488)
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 26,588)
( 26,588)
--------
--------
Shareholders funds
( 26,488)
( 26,488)
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the year ending 31 March 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 20 December 2017 , and are signed on behalf of the board by:
Mr D W Halsall
Director
Company registration number: 04753770
Premier Blinds Limited
Notes to the Financial Statements
Year ended 31 March 2017
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 1 Laburnum Grove, Tyldesley, Manchester, M29 8PL.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. The Company has net liabilities at the Balance Sheet date of £26,488. The director has confirmed that he is willing to support the company for the foreseeable future. Therefore the going concern basis is applicable.
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 April 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 9.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities .
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2016: 1 ).
5. Intangible assets
Goodwill
£
Cost
At 1 April 2016 and 31 March 2017
8,000
-------
Amortisation
At 1 April 2016 and 31 March 2017
8,000
-------
Carrying amount
At 31 March 2017
–
-------
6. Debtors
2017
2016
£
£
Trade debtors
–
808
----
----
7. Creditors: amounts falling due within one year
2017
2016
£
£
Trade creditors
–
3,379
Social security and other taxes
–
258
Other creditors - Director's loan account
24,507
30,285
Other creditors
4,500
4,500
--------
--------
29,007
38,422
--------
--------
8. Related party transactions
The company was under the control of Mr Halsall throughout the current year. Mr Halsall is the managing director and owns all the shares. At the year end the director's current account balance was £ 24,507 (2016 £30,285). This loan was interest free. An amount of £ 4,500 , (2016 £4,500), was also owed to Mrs M Halsall , (the wife of Mr D W Halsall).
9. Transition to FRS 102
These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 April 2015.
No transitional adjustments were required in equity or profit or loss for the period.