P.T.F. Glass Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 06492890 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 January 2018

for

P.T.F. Glass Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P T French

Mrs D French

SECRETARY:

Mrs D French

REGISTERED OFFICE:

Vaynol Gate

Rooms Lane

Morley

Leeds

West Yorkshire

LS27 9PA

REGISTERED NUMBER:

06492890 (England and Wales)

ACCOUNTANTS:

Frank W Dobby & Co Limited

Chartered Certified Accountants

55 Fountain Street

Morley

Leeds

West Yorkshire

LS27 0AA

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

8,547

6,481

8,547

6,481

CURRENT ASSETS

Stocks

6

2,875

1,000

Debtors

7

47,226

45,517

Cash at bank

9,699

6,253

59,800

52,770

CREDITORS

Amounts falling due within one year

8

53,422

57,041

NET CURRENT ASSETS/(LIABILITIES)

6,378

(4,271

)

TOTAL ASSETS LESS CURRENT LIABILITIES

14,925

2,210

PROVISIONS FOR LIABILITIES

1,624

1,296

NET ASSETS

13,301

914

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

13,201

814

SHAREHOLDERS' FUNDS

13,301

914

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2018 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 20 February 2018 and were signed on its behalf by:

P T French - Director

1.	STATUTORY INFORMATION

P.T.F. Glass 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.

The financial statements are presented in Sterling (£)

Turnover

Turnover represents net invoiced sales of services excluding value added tax. Revenue is recognised at the point at

which the invoice for services is issued.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2008, 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.

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and

accumulated impairment losses.

At each balance sheet date the company reviews the carrying amount of its tangible fixed assets to determine whether

there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable

amount of an asset is estimated in order to determine the extent of the impairment loss.

Stocks

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the

related revenue is recognised. The amount of any write down of stocks to net realisable value and all losses of stocks

are recognised as an expense in the period in which the write down or loss occurs. The amount of any reversal of any

write down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in

which the reversal occurs.

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.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2017 - 7 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 February 2017

and 31 January 2018

40,000

AMORTISATION

At 1 February 2017

and 31 January 2018

40,000

NET BOOK VALUE

At 31 January 2018

-

At 31 January 2017

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 February 2017

13,908

2,863

3,369

20,140

Additions

-

-

3,500

3,500

At 31 January 2018

13,908

2,863

6,869

23,640

DEPRECIATION

At 1 February 2017

8,925

1,618

3,116

13,659

Charge for year

748

184

502

1,434

At 31 January 2018

9,673

1,802

3,618

15,093

NET BOOK VALUE

At 31 January 2018

4,235

1,061

3,251

8,547

At 31 January 2017

4,983

1,245

253

6,481

6.

STOCKS

31.1.18

31.1.17

£

£

Stocks

2,875

1,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.18

31.1.17

£

£

Trade debtors

43,333

42,042

Prepayments

3,893

3,475

47,226

45,517

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.18

31.1.17

£

£

Trade creditors

24,689

22,208

Tax

9,635

6,279

Social security and other taxes

2,302

4,335

VAT

9,900

10,294

Directors' current accounts

5,550

12,500

Accrued expenses

1,346

1,425

53,422

57,041

9.	RELATED PARTY DISCLOSURES

During the year, total dividends of £30,000 (2017 - £24,000) were paid to the directors .

The directors provided an interest free loan to the company. Additional monies loaned to the company in the year

amounted to £30,000 and withdrawal of £36,950 were made.

Amount due to related party as at 31st January 2018 was £5,550 (2017 - £12,500).