P and M House Clearances Limited Small abridged accounts

P AND M HOUSE CLEARANCES LIMITED - Company Information

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Statement of Consent to Prepare Abridged Financial Statements

All of the members of P and M House Clearances Limited have consented to the preparation of the abridged profit and loss account and the balance sheet for the year ending 31 July 2017 in accordance with Section 444(2A) of the Companies Act 2006.

COMPANY REGISTRATION NUMBER: 08153250

P and M House Clearances Limited

Filleted Unaudited Abridged Financial Statements

31 July 2017

P and M House Clearances Limited

Abridged Financial Statements

Year ended 31 July 2017

Contents	Pages

Chartered accountant's report to the board of directors on the preparation of the unaudited statutory abridged financial statements	1

Balance sheet	2

Notes to the abridged financial statements	3 to 5

P and M House Clearances Limited

Chartered Accountant's Report to the Board of Directors on the Preparation of the Unaudited Statutory Abridged Financial Statements of P and M House Clearances Limited

Year ended 31 July 2017

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abridged financial statements of P and M House Clearances Limited for the year ended 31 July 2017, which comprise the 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 at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of P and M House Clearances Limited, as a body, in accordance with the terms of our engagement letter dated 19 April 2016. Our work has been undertaken solely to prepare for your approval the abridged financial statements of P and M House Clearances Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than P and M House Clearances Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that P and M House Clearances Limited has kept adequate accounting records and to prepare statutory abridged financial statements that give a true and fair view of the assets, liabilities, financial position and profit of P and M House Clearances Limited. You consider that P and M House Clearances 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 abridged financial statements of P and M House Clearances 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 abridged financial statements.

MILLER DAVIES LLP Chartered accountant

A3 Broomsleigh Business Park Worsley Bridge Road London SE26 5BN

23 May 2018

P and M House Clearances Limited

Balance Sheet

31 July 2017

	2017		2016
Note	£	£	£

Current assets

Cash at bank and in hand	6,262		7,484

Creditors: amounts falling due within one year	6,134		6,912
	-------		-------
Net current assets		128	572
		----	----
Total assets less current liabilities		128	572
		----	----
Net assets		128	572
		----	----

Capital and reserves

Called up share capital	1	1
Profit and loss account	127	571
	----	----
Shareholders funds	128	572
	----	----

These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the abridged profit and loss account has not been delivered.

For the year ending 31 July 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .

These abridged financial statements were approved by the board of directors and authorised for issue on 23 May 2018 , and are signed on behalf of the board by:

Ms A Bond

Director

Company registration number: 08153250

P and M House Clearances Limited

Notes to the Abridged Financial Statements

Year ended 31 July 2017

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 47 The Glade, Croydon, Surrey, CR0 7QG.

2. Statement of compliance

These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The abridged financial statements are prepared in sterling, which is the functional currency of the entity.

Transition to FRS 102

The entity transitioned from previous UK GAAP to FRS 102 as at 1 August 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 8.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures and fittings	-	25% straight line
Motor vehicles	-	25% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 5 (2016: 5 ).

5. Tangible assets

	£
Cost
At 1 August 2016 and 31 July 2017	6,340
	-------
Depreciation
At 1 August 2016 and 31 July 2017	6,340
	-------
Carrying amount
At 31 July 2017	–
	-------
At 31 July 2016	–
	-------

6. Financial instruments at fair value

	2017	2016
	£	£

Financial assets measured at fair value through profit or loss

Financial assets measured at fair value through profit or loss	6,262	7,484
	-------	-------

Financial liabilities measured at fair value through profit or loss

Financial liabilities measured at fair value through profit or loss	6,134	6,912
	-------	-------

7. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	2017
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
Ms A Bond	( 181)	( 6)	( 187)
Mr P A Benstead	( 180)	( 6)	( 186)
	----	----	----
	( 361)	( 12)	( 373)
	----	----	----

	2016
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
Ms A Bond	( 35)	( 146)	( 181)
Mr P A Benstead	( 34)	( 146)	( 180)
	----	----	----
	( 69)	( 292)	( 361)
	----	----	----

8. Transition to FRS 102

These are the first abridged financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 August 2015.

No transitional adjustments were required in equity or profit or loss for the year.