Poulton Service & Exhaust Centre Ltd - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 04540048 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2017

FOR

POULTON SERVICE & EXHAUST CENTRE LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs S A Clements

L D Clements

Mrs N J Gisby

G Phillips

SECRETARY:

Mrs N J Gisby

REGISTERED OFFICE:

South Stour Offices

Roman Road

Mersham

Ashford

Kent

TN25 7HS

BUSINESS ADDRESS:

Hollow Wood Road

Poulton Industrial Estate

Coombe Valley

Dover

Kent

CT17 0UB

REGISTERED NUMBER:

04540048 (England and Wales)

ACCOUNTANTS:

Cassidys Chartered Accountants

South Stour Offices

Roman Road

Mersham

Ashford

Kent

TN25 7HS

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

245,517

245,376

245,517

245,376

CURRENT ASSETS

Stocks

5,321

5,564

Debtors

6

5,843

6,653

Cash at bank and in hand

115,222

122,314

126,386

134,531

CREDITORS

Amounts falling due within one year

7

98,350

109,248

NET CURRENT ASSETS

28,036

25,283

TOTAL ASSETS LESS CURRENT LIABILITIES

273,553

270,659

CREDITORS

Amounts falling due after more than one year

8

(19,075

)

(41,575

)

PROVISIONS FOR LIABILITIES

9

(1,437

)

(1,249

)

NET ASSETS

253,041

227,835

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

252,941

227,735

SHAREHOLDERS' FUNDS

253,041

227,835

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 10 June 2018 and were signed on its behalf by:

Mrs S A Clements - Director

1.	STATUTORY INFORMATION

Poulton Service & Exhaust Centre 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.

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.

Freehold property

-

in accordance with the property

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

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 9 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 October 2016

and 30 September 2017

57,600

AMORTISATION

At 1 October 2016

and 30 September 2017

57,600

NET BOOK VALUE

At 30 September 2017

-

At 30 September 2016

-

5.	TANGIBLE FIXED ASSETS

Freehold

Plant and

Motor

property

machinery

vehicles

Totals

£

£

£

£

COST

At 1 October 2016

240,000

39,331

-

279,331

Additions

-

2,850

200

3,050

At 30 September 2017

240,000

42,181

200

282,381

DEPRECIATION

At 1 October 2016

2,500

31,455

-

33,955

Charge for year

500

2,359

50

2,909

At 30 September 2017

3,000

33,814

50

36,864

NET BOOK VALUE

At 30 September 2017

237,000

8,367

150

245,517

At 30 September 2016

237,500

7,876

-

245,376

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.17

30.9.16

£

£

Trade debtors

3,166

4,483

Other debtors

2,677

2,170

5,843

6,653

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.17

30.9.16

£

£

Trade creditors

18,282

20,182

Taxation and social security

36,334

48,497

Other creditors

43,734

40,569

98,350

109,248

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.17

30.9.16

£

£

Other creditors

19,075

41,575

9.	PROVISIONS FOR LIABILITIES

30.9.17

30.9.16

£

£

Deferred tax

1,437

1,249

Deferred

tax

£

Balance at 1 October 2016

1,249

Provided during year

188

Balance at 30 September 2017

1,437

10.	PENSION COMMITMENTS

The company operates a defined contribution scheme. The assets of the scheme are held separately from those of

the company in an independently administered fund. The pension cost charge for the period amounts to £9,000

(2016 - £7,378) and represents contributions payable by the company to the fund.

11.	RELATED PARTY DISCLOSURES

During the year, total dividends of £69,500 (2016 - £59,800) were paid to the directors .

Mrs S Clements - Director and Shareholder

At the balance sheet date Poulton Service & Exhaust Centre Ltd owed Mrs Clements £7,304 (2016 - the company

owed Mrs Clements £8,325 ).

12.	ULTIMATE CONTROLLING PARTY

The company is controlled by Mrs S A Clements a director who owns 60% of the issued share capital.