Promail Limited - Accounts to registrar (filleted) - small 18.1
Promail Limited - Accounts to registrar (filleted) - small 18.1
| REGISTERED NUMBER: |
| PROMAIL LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 OCTOBER 2017 |
| PROMAIL LIMITED (REGISTERED NUMBER: 03320047) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| For The Year Ended 31 October 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 | to | 6 |
| PROMAIL LIMITED |
| COMPANY INFORMATION |
| For The Year Ended 31 October 2017 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 1 Rushmills |
| Bedford Road |
| Northampton |
| Northamptonshire |
| NN4 7YB |
| SOLICITORS: |
| Strathmore House |
| 1 Waterperry Court |
| Banbury |
| Oxon |
| OX16 4QC |
| PROMAIL LIMITED (REGISTERED NUMBER: 03320047) |
| BALANCE SHEET |
| 31 October 2017 |
| 2017 | 2016 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 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. |
| 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 |
| PROMAIL LIMITED (REGISTERED NUMBER: 03320047) |
| NOTES TO THE FINANCIAL STATEMENTS |
| For The Year Ended 31 October 2017 |
| 1. | STATUTORY INFORMATION |
| Promail Limited is a |
| registered number and registered office address can be found on the Company Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The principal accounting policies adopted in the preparation of the financial statements are set out below and |
| have remained unchanged from the previous year, and have also been consistently applied within the same |
| accounts. |
| Transition to FRS 102 |
| These financial statements for the year ended 31 October 2017 are the first financial statements that comply |
| with FRS 102 Section 1A small entities. The date of transition is 1 November 2015. |
| The transition to FRS 102 Section 1A small entities has resulted in a small number of changes in accounting |
| policies to those used previously, however these has been no material impact on the financial statement |
| Turnover |
| In accordance with the principles of revenue recognition as stated in UITF 40 and Application Note G, turnover |
| represents the value of work done in the accounting period, including estimates of amounts not yet invoiced. |
| Tangible fixed assets |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Computer equipment | - |
| 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. |
| PROMAIL LIMITED (REGISTERED NUMBER: 03320047) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| For The Year Ended 31 October 2017 |
| 2. | ACCOUNTING POLICIES - continued |
| Foreign currencies |
| Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of |
| exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at |
| the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| 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 |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| and | Motor | Computer |
| fittings | vehicles | equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 November 2016 |
| Additions |
| At 31 October 2017 |
| DEPRECIATION |
| At 1 November 2016 |
| Charge for year |
| At 31 October 2017 |
| NET BOOK VALUE |
| At 31 October 2017 |
| At 31 October 2016 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Trade debtors |
| Tax |
| Prepayments and accrued income |
| PROMAIL LIMITED (REGISTERED NUMBER: 03320047) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| For The Year Ended 31 October 2017 |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Bank loans and overdrafts |
| Other loans |
| Trade creditors |
| Social security and other taxes |
| VAT | 61,957 | 78,768 |
| Directors' loan accounts | 10,871 | 33,755 |
| Accruals and deferred income |
| Accrued expenses |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Other loans - 1-2 years | 12,667 | 5,600 |
| Other loans - 2-5 years | 6,333 | - |
| 8. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2017 | 2016 |
| £ | £ |
| Bank overdrafts |
| Other loans |
| 9. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2017 | 2016 |
| value: | £ | £ |
| Ordinary | £1 | 100 | 100 |
| 10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to directors subsisted during the years ended 31 October 2017 and |
| 31 October 2016: |
| 2017 | 2016 |
| £ | £ |
| Balance outstanding at start of year | ( |
) | ( |
) |
| Amounts advanced |
| Amounts repaid |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year | ( |
) | ( |
) |
| PROMAIL LIMITED (REGISTERED NUMBER: 03320047) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| For The Year Ended 31 October 2017 |
| 10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued |
| Balance outstanding at start of year | ( |
) | ( |
) |
| Amounts advanced |
| Amounts repaid |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year | ( |
) |
| 11. | ULTIMATE CONTROLLING PARTY |
| The controlling party is S White. |
| 12. | FIRST YEAR ADOPTION |
| The company has adopted FRS 102 for the first time in the year ended 31 October 2017. |
| The effect of the transition from the previous financial reporting framework to FRS 102 has been considered. |
| There has been no material impact in relation to the following: |
| - changes in accounting policies |
| - changes in shareholders funds |
| - comparative year profit or loss |
| On that basis, no restatement has been undertaken. |