Patoro Limited - Accounts to registrar (filleted) - small 18.1
Patoro Limited - Accounts to registrar (filleted) - small 18.1
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2017 |
| FOR |
| PATORO LIMITED |
| PATORO LIMITED (REGISTERED NUMBER: 08223638) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the year ended 30 September 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| PATORO LIMITED |
| COMPANY INFORMATION |
| for the year ended 30 September 2017 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Magma House |
| 16 Davy Court |
| Castle Mound Way |
| Rugby |
| CV23 0UZ |
| PATORO LIMITED (REGISTERED NUMBER: 08223638) |
| BALANCE SHEET |
| 30 September 2017 |
| 2017 | 2016 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital |
| 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 Profit and loss account has not been delivered. |
| The financial statements were approved by the Board of Directors on |
| PATORO LIMITED (REGISTERED NUMBER: 08223638) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the year ended 30 September 2017 |
| 1. | STATUTORY INFORMATION |
| Patoro Limited is a private company limited by share capital, incorporated in England and Wales, registration |
| number 08223638. The address of the registered office is Magma House, 16 Davy Court, Castle Mound way, |
| Rugby, Leicestershire, CV23 0UZ. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Summary of significant accounting policies |
| The principle accounting policies applied in the preparation of these financial statements are set out below. |
| These policies have been consistently applied to all years presented, unless otherwise stated. The company has |
| adopted FRS 102 Section 1A Small Entities in these financial statements. Details of the transition to FRS 102 |
| Section 1A Small Entities are disclosed within the notes to the financial statements. |
| These financial statements for the year ended 30 September 2017 are the first financial statements that comply |
| with FRS 102 Section 1A Small Entities. The date of transition is 1 October 2015. |
| The comparative figures for the year ended 30 September 2016 have been restated throughout these financial |
| statements. |
| The financial statements are presented in Sterling (£). |
| Turnover |
| Turnover is measured as the fair value of the consideration received or receivable for services provided, |
| excluding value added tax. The following criteria must also be met before revenue is recognised: |
| Rendering of services |
| Revenue from a contract to provide services is recognised in the period in which the services are provided in |
| accordance with the stage of completion of the contract when all of the following conditions are satisfied: |
| - the amount of revenue can be measured reliably; |
| - it is probable that the Company will receive the consideration due under the contract; |
| - the stage of completion of the contract at the end of the reporting period can be measured reliably; and |
| - the costs incurred and the costs to complete the contract can be measured reliably. |
| Goodwill |
| No amortisation was charged in the year of acquisition. |
| Tangible fixed assets |
| Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated |
| impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the |
| location and condition necessary for it to be capable of operating in the manner intended by management. |
| Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful |
| lives, using either a straight line or reducing balance method, as indicated below. |
| Depreciation is provided on the following basis: |
| Fixtures and fittings | - 25% on reducing balance |
| Computer equipment | - 33% straight line |
| The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if |
| appropriate, or if there is an indication of a significant change since the last reporting date. |
| Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are |
| recognised in profit or loss. |
| PATORO LIMITED (REGISTERED NUMBER: 08223638) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 30 September 2017 |
| 2. | ACCOUNTING POLICIES - continued |
| Financial instruments |
| The Company only enters into basic financial instrument transactions that result in the recognition of financial |
| assets and liabilities like trade and other debtors and creditors and loans to related parties. |
| Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period |
| for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is |
| recognised in profit or loss. |
| Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an |
| enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise |
| the asset and settle the liability simultaneously. |
| Debtors |
| Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the |
| arrangement constitutes a financing transaction, where the transaction is measured at the present value of the |
| future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost |
| using the effective interest method, less any impairment. |
| Cash and cash equivalents |
| Cash and cash equivalents are represented by cash in hand. |
| Creditors |
| Basic financial liabilities, including trade and other creditors, and loans from related parties, are initially |
| recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt |
| instrument is measured at the present value of the future payments discounted at a market rate of interest. Such |
| instruments are subsequently carried at amortised cost using the effective interest method, less any impairment. |
| Taxation |
| The tax expense for the year comprises current and deferred tax. |
| Tax is recognised in profit or loss except that a change attributable to an item of income and expense recognised |
| as other comprehensive income or to an item recognised directly in equity is also recognised in other |
| comprehensive income or directly in equity respectively. |
| Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by |
| the Balance Sheet date, except that: |
| - The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered |
| against the reversal of deferred tax liabilities or other future taxable profits; and |
| - Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have |
| been met. |
| Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively |
| enacted by the balance sheet date. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| PATORO LIMITED (REGISTERED NUMBER: 08223638) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 30 September 2017 |
| 4. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| COST |
| At 1 October 2016 |
| and 30 September 2017 |
| AMORTISATION |
| At 1 October 2016 |
| Amortisation for year |
| At 30 September 2017 |
| NET BOOK VALUE |
| At 30 September 2017 |
| At 30 September 2016 |
| 5. | TANGIBLE FIXED ASSETS |
| Fixtures |
| and | Computer |
| fittings | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 October 2016 |
| and 30 September 2017 |
| DEPRECIATION |
| At 1 October 2016 |
| Charge for year |
| At 30 September 2017 |
| NET BOOK VALUE |
| At 30 September 2017 |
| At 30 September 2016 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Trade debtors |
| Directors' current accounts | 39,073 | - |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| PATORO LIMITED (REGISTERED NUMBER: 08223638) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 30 September 2017 |
| 8. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 30 September 2017 and |
| 30 September 2016: |
| 2017 | 2016 |
| £ | £ |
| Balance outstanding at start of year | ( |
) | ( |
) |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year | ( |
) |
| The directors loan account is interest free and repayable on demand. The maximum amount outstanding during |
| the year was £67,339 (£19,701). |
| 9. | TRANSITION TO FRS 102 |
| This the first year that the company has presented its results under FRS 102. The last financial statements under |
| UK GAAP were for the year ended 30 September 2016. The date of transition to FRS 102 was 1 October 2015. |
| There are no transitional adjustments arising from the first time adoption of FRS 102. |