Permagard Products Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 02363543

Unaudited Financial Statements for the Year Ended 31 May 2017

for

Permagard Products Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTORS:

D.J. Wookey

S Wookey

SECRETARY:

A Wookey

REGISTERED OFFICE:

The Mews

Hounds Road

Chipping Sodbury

Bristol

BS37 6EE

BUSINESS ADDRESS:

UNIT C3

AVONMOUTH DOCKS ESTATE

CHITTENING

BRISTOL

BS11 OYB

REGISTERED NUMBER:

02363543

ACCOUNTANTS:

Derek J Stenner Ltd

Chartered Accountant

The Mews,

Hounds Road,

Chipping Sodbury,

South Gloucestershire.

BS37 6EE

FIXED ASSETS

Intangible assets

4

1,007

1,480

Tangible assets

5

455,644

440,785

456,651

442,265

CURRENT ASSETS

Stocks

118,021

117,462

Debtors

6

69,707

61,956

Cash at bank and in hand

174,816

93,477

362,544

272,895

CREDITORS

Amounts falling due within one year

7

336,623

322,915

NET CURRENT ASSETS/(LIABILITIES)

25,921

(50,020

)

TOTAL ASSETS LESS CURRENT LIABILITIES

482,572

392,245

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

482,372

392,045

SHAREHOLDERS' FUNDS

482,572

392,245

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 27 February 2018 and were signed on its behalf by:

S Wookey - Director

1.	STATUTORY INFORMATION

Permagard Products Limited is a private company, limited by shares , registered in Not specified/Other. 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.

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.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Patents and licences

Patents and licences have been depreciated over 15 years on cost.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

in accordance with the property

Short leasehold

-

20% on cost

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 June 2016

and 31 May 2017

7,093

AMORTISATION

At 1 June 2016

5,613

Charge for year

473

At 31 May 2017

6,086

NET BOOK VALUE

At 31 May 2017

1,007

At 31 May 2016

1,480

5.	TANGIBLE FIXED ASSETS

Improvements

Freehold

Short

to

Plant and

property

leasehold

property

machinery

£

£

£

£

COST

At 1 June 2016

395,271

3,050

14,006

88,225

Additions

-

-

20,310

-

At 31 May 2017

395,271

3,050

34,316

88,225

DEPRECIATION

At 1 June 2016

4,077

3,050

-

78,996

Charge for year

-

-

-

1,385

Eliminated on disposal

-

-

-

-

At 31 May 2017

4,077

3,050

-

80,381

NET BOOK VALUE

At 31 May 2017

391,194

-

34,316

7,844

At 31 May 2016

391,194

-

14,006

9,229

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 June 2016

26,953

50,799

28,345

606,649

Additions

-

19,000

-

39,310

Disposals

-

(27,799

)

-

(27,799

)

At 31 May 2017

26,953

42,000

28,345

618,160

DEPRECIATION

At 1 June 2016

23,878

31,344

24,519

165,864

Charge for year

461

5,705

1,263

8,814

Eliminated on disposal

-

(12,162

)

-

(12,162

)

At 31 May 2017

24,339

24,887

25,782

162,516

NET BOOK VALUE

At 31 May 2017

2,614

17,113

2,563

455,644

At 31 May 2016

3,075

19,455

3,826

440,785

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

47,611

42,401

Other debtors

22,096

19,555

69,707

61,956

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

234,688

252,873

Taxation and social security

78,140

56,212

Other creditors

23,795

13,830

336,623

322,915

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2017

2016

£

£

Within one year

27,932

-

Between one and five years

111,086

-

139,018

-

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.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial

statements of Permagard Products Limited for the year ended 31 May 2017 which comprise the Income Statement, Balance Sheet

and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Permagard Products Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Permagard Products Limited and state those matters that we have agreed to state to the Board of Directors of Permagard Products Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Permagard Products Limited Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Permagard Products Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Permagard Products Limited. You consider that Permagard Products Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Permagard Products Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Derek J Stenner Ltd

Chartered Accountant

The Mews,

Hounds Road,

Chipping Sodbury,

South Gloucestershire.

BS37 6EE

Date: .............................................