Preston and Company (1953) Limited - Accounts to registrar (filleted) - small 17.3
Preston and Company (1953) Limited - Accounts to registrar (filleted) - small 17.3
| REGISTERED NUMBER: |
| PRESTON AND COMPANY (1953) LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MAY 2017 |
| PRESTON AND COMPANY (1953) LIMITED (REGISTERED NUMBER: 00526808) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MAY 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| PRESTON AND COMPANY (1953) LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 MAY 2017 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Clarke Nicklin House |
| Brooks Drive |
| Cheadle Royal Business Park |
| Cheadle |
| Cheshire |
| SK8 3TD |
| BANKERS: |
| PO Box 12 |
| 190 Stamford Street |
| Ashton-U-Lyne |
| Lancashire |
| OL6 7NZ |
| PRESTON AND COMPANY (1953) LIMITED (REGISTERED NUMBER: 00526808) |
| BALANCE SHEET |
| 31 MAY 2017 |
| 2017 | 2016 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investment property | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Investments | 7 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Fair value reserve | 9 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| PRESTON AND COMPANY (1953) LIMITED (REGISTERED NUMBER: 00526808) |
| BALANCE SHEET - continued |
| 31 MAY 2017 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors on behalf by: |
| PRESTON AND COMPANY (1953) LIMITED (REGISTERED NUMBER: 00526808) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MAY 2017 |
| 1. | STATUTORY INFORMATION |
| Preston and Company (1953) Limited is a |
| 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 |
| Turnover |
| Turnover represents operating lease rentals charged to tenants. |
| Tangible fixed assets |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Computer equipment | - |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from |
| changes in fair value is recognised in profit or loss. |
| 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. |
| Investments |
| Current asset investments are stated at the lower of cost and net realisable value. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| PRESTON AND COMPANY (1953) LIMITED (REGISTERED NUMBER: 00526808) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MAY 2017 |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Plant and | and | Computer |
| machinery | fittings | equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 June 2016 |
| Additions |
| At 31 May 2017 |
| DEPRECIATION |
| At 1 June 2016 |
| Charge for year |
| At 31 May 2017 |
| NET BOOK VALUE |
| At 31 May 2017 |
| At 31 May 2016 |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 June 2016 |
| and 31 May 2017 |
| NET BOOK VALUE |
| At 31 May 2017 |
| At 31 May 2016 |
| Fair value at 31 May 2017 is represented by: |
| £ |
| Valuation in 2009 | 1,881,057 |
| Cost | 129,733 |
| 2,010,790 |
| If the investment property had not been revalued it would have been included at the following historical |
| cost: |
| 2017 | 2016 |
| £ | £ |
| Cost | 129,733 | 129,733 |
| Investment property was valued on an open market basis on 31 May 2009 by the directors . |
| PRESTON AND COMPANY (1953) LIMITED (REGISTERED NUMBER: 00526808) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MAY 2017 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 7. | CURRENT ASSET INVESTMENTS |
| 2017 | 2016 |
| £ | £ |
| Listed investments | 36,404 | 39,126 |
| Market value of listed investments at 31 May 2017 - £ 48,617 (2016 - £ 55,515 ). |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 9. | RESERVES |
| Fair |
| value |
| reserve |
| £ |
| At 1 June 2016 |
| and 31 May 2017 |
| 10. | ULTIMATE CONTROLLING PARTY |