P.A.R. (Insulations and Wires) Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 02405904 (England and Wales)

P.A.R. (Insulations and Wires) Limited

Unaudited Financial Statements

For The Year Ended 30 September 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Report of the Accountants

8

DIRECTORS:

R A Hirst

P M Hirst

SECRETARY:

P M Hirst

REGISTERED OFFICE:

Foxwood Close

Foxwood Industrial Park

Sheepbridge

Chesterfield

S41 9RB

REGISTERED NUMBER:

02405904 (England and Wales)

ACCOUNTANTS:

Roddis Taylor Robinson

Chartered Accountants

Unit 6, Acorn Business Park

Woodseats Close

Sheffield

South Yorkshire

S8 0TB

FIXED ASSETS

Intangible assets

4

7,667

9,667

Tangible assets

5

81,022

117,334

88,689

127,001

CURRENT ASSETS

Stocks

293,909

249,994

Debtors

6

460,229

326,695

Cash at bank and in hand

833

988

754,971

577,677

CREDITORS

Amounts falling due within one year

7

631,381

493,976

NET CURRENT ASSETS

123,590

83,701

TOTAL ASSETS LESS CURRENT LIABILITIES

212,279

210,702

CREDITORS

Amounts falling due after more than one year

8

(3,911

)

(19,073

)

PROVISIONS FOR LIABILITIES

(2,655

)

(5,202

)

NET ASSETS

205,713

186,427

CAPITAL AND RESERVES

Called up share capital

10

9,750

9,750

Capital redemption reserve

3,250

3,250

Retained earnings

192,713

173,427

SHAREHOLDERS' FUNDS

205,713

186,427

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 24 January 2018 and were signed on its behalf by:

R A Hirst - Director

1.	STATUTORY INFORMATION

P.A.R. (Insulations and Wires) Limited 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

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.

Freehold property

-

4% straight line

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at

the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

Government grants

Grants are credited to deferred revenue. Grants towards capital expenditure are released to the profit and loss

account over the expected useful life of the assets. Grants towards revenue expenditure are released to the profit

and loss account as the related expenditure is incurred.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2016 - 9 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 October 2016

and 30 September 2017

10,000

AMORTISATION

At 1 October 2016

333

Charge for year

2,000

At 30 September 2017

2,333

NET BOOK VALUE

At 30 September 2017

7,667

At 30 September 2016

9,667

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 October 2016

126,759

180,985

307,744

Disposals

-

(37,990

)

(37,990

)

At 30 September 2017

126,759

142,995

269,754

DEPRECIATION

At 1 October 2016

75,673

114,737

190,410

Charge for year

3,930

13,766

17,696

Eliminated on disposal

-

(19,374

)

(19,374

)

At 30 September 2017

79,603

109,129

188,732

NET BOOK VALUE

At 30 September 2017

47,156

33,866

81,022

At 30 September 2016

51,086

66,248

117,334

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

446,905

315,925

Other debtors

13,324

10,770

460,229

326,695

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

143,684

105,320

Hire purchase contracts

4,049

14,649

Trade creditors

423,764

313,356

Taxation and social security

42,258

36,192

Other creditors

17,626

24,459

631,381

493,976

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Hire purchase contracts

2,361

16,923

Other creditors

1,550

2,150

3,911

19,073

9.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank overdrafts

143,684

105,320

Hire purchase

6,410

31,572

150,094

136,892

Bank borrowings are secured by way of a legal mortgage, a first fixed charge and a floating charge.

Hire purchase liabilities are secured on the assets concerned.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

9,750

Ordinary

£1

9,750

9,750

11.	FIRST-TIME ADOPTION OF FRS 102 1A

On the adoption of FRS 102 1A there was no effect on the balance of equity and profit and loss previously

reported on transition at 1 October 2015 and 30 September 2016.

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the

Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 30 September 2017 set out on pages three to nine and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Our report may not be relied upon by any person for any other purpose whatsoever.

Roddis Taylor Robinson neither owes nor accepts any duty to any other party and shall not be liable for any loss,

damage or expenses of whatsoever nature which is caused by their reliance on these accounts.

Roddis Taylor Robinson

Chartered Accountants

Unit 6, Acorn Business Park

Woodseats Close

Sheffield

South Yorkshire

S8 0TB

24 January 2018