Paper Enhancement Technology Ltd - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 06381105 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 September 2017

for

Paper Enhancement Technology Ltd

Trading as

MicroCapture

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs C A Brown

E J Brown

Mrs S L Fells

SECRETARY:

Mrs C A Brown

REGISTERED OFFICE:

Cabourn House

Station Street

Bingham

Nottinghamshire

NG13 8AQ

REGISTERED NUMBER:

06381105 (England and Wales)

ACCOUNTANTS:

bostockwhite Limited

Chartered Accountants

Cabourn House

Station Street

Bingham

Nottinghamshire

NG13 8AQ

FIXED ASSETS

Tangible assets

4

141,870

4,410

CURRENT ASSETS

Stocks

10,253

4,333

Debtors

5

69,493

87,596

Cash at bank and in hand

95,320

150,824

175,066

242,753

CREDITORS

Amounts falling due within one year

6

132,345

88,334

NET CURRENT ASSETS

42,721

154,419

TOTAL ASSETS LESS CURRENT LIABILITIES

184,591

158,829

CREDITORS

Amounts falling due after more than one year

7

(38,333

)

-

PROVISIONS FOR LIABILITIES

(2,239

)

(882

)

NET ASSETS

144,019

157,947

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

143,919

157,847

144,019

157,947

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 18 March 2018 and were signed on its behalf by:

Mrs C A Brown - Director

1.	STATUTORY INFORMATION

Paper Enhancement Technology Ltd 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.

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 etc

-

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 3 .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 October 2016

10,006

Additions

160,192

At 30 September 2017

170,198

DEPRECIATION

At 1 October 2016

5,596

Charge for year

22,732

At 30 September 2017

28,328

NET BOOK VALUE

At 30 September 2017

141,870

At 30 September 2016

4,410

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.17

30.9.16

£

£

Trade debtors

48,025

72,696

Other debtors

21,468

14,900

69,493

87,596

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.17

30.9.16

£

£

Bank loans and overdrafts

42,586

-

Hire purchase contracts

10,000

-

Trade creditors

13,416

33,175

Taxation and social security

3,647

19,521

Other creditors

62,696

35,638

132,345

88,334

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.17

30.9.16

£

£

Hire purchase contracts

38,333

-

8.	CAPITAL COMMITMENTS

30.9.17

30.9.16

£

£

Contracted but not provided for in the

financial statements

30,750

47,000

9.	FIRST YEAR ADOPTION

This is the first financial year that the Company has presented its financial statements in accordance with FRS102 'The

Financial Reporting Framework Applicable in the UK and Republic of Ireland ' ('FRS 102'). For financial years up to and

including the year ending 30 September 2016, the company prepared its financial statements in accordance with old UK

GAAP.

The Company's date of transition to FRS102 is therefore 1 October 2015. There are no changes to accounting policies

and transitional adjustments that are required to be made for first-time transition to FRS102.