PE HU Limited Small abridged accounts

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Statement of Consent to Prepare Abridged Financial Statements

All of the members of PE HU Limited have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the year ending 30 November 2017 in accordance with Section 444(2A) of the Companies Act 2006.

COMPANY REGISTRATION NUMBER: 09425163

PE HU Limited

Filleted Unaudited Abridged Financial Statements

30 November 2017

PE HU Limited

Abridged Financial Statements

Year ended 30 November 2017

Contents	Page

Officers and professional advisers	1

Chartered accountant's report to the director on the preparation of the unaudited statutory abridged financial statements	2

Abridged statement of financial position	3

Statement of changes in equity	5

Notes to the abridged financial statements	6

PE HU Limited

Officers and Professional Advisers

Director	Mr S Thompson

Registered office	Swallow House
	Parsons Road
	Washington
	Tyne & Wear
	NE37 1EZ

Accountants	Mitchells Limited
	Chartered accountant
	Swallow House
	Parsons Road
	Washington
	Tyne & Wear
	NE37 1EZ

PE HU Limited

Chartered Accountant's Report to the Director on the Preparation of the Unaudited Statutory Abridged Financial Statements of PE HU Limited

Year ended 30 November 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 PE HU Limited for the year ended 30 November 2017, which comprise the abridged statement of financial position, statement of changes in equity 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 director of PE HU Limited in accordance with the terms of our engagement letter dated 5 February 2016. Our work has been undertaken solely to prepare for your approval the abridged financial statements of PE HU Limited and state those matters that we have agreed to state to you 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 PE HU Limited and its director for our work or for this report.

It is your duty to ensure that PE HU 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 loss of PE HU Limited. You consider that PE HU 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 PE HU 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.

Mitchells Limited Chartered accountant

Swallow House Parsons Road Washington Tyne & Wear NE37 1EZ

28 March 2018

PE HU Limited

Abridged Statement of Financial Position

30 November 2017

	2017		2016
Note	£	£	£

Fixed assets

Tangible assets	5		48,487	57,044

Current assets

Stocks	9,150	6,150
Debtors	2,127	2,091
Cash at bank and in hand	13,692	15,483
	--------	--------
	24,969	23,724

Creditors: amounts falling due within one year	36,949		30,108
	--------		--------
Net current liabilities		11,980	6,384
		--------	--------
Total assets less current liabilities		36,507	50,660

Creditors: amounts falling due after more than one year	103,180	106,779
	---------	---------
Net liabilities	( 66,673)	( 56,119)
	---------	---------

Capital and reserves

Called up share capital	100	100
Profit and loss account	( 66,773)	( 56,219)
	--------	--------
Shareholders deficit	( 66,673)	( 56,119)
	--------	--------

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 statement of comprehensive income has not been delivered.

For the year ending 30 November 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .

PE HU Limited

Abridged Statement of Financial Position (continued)

30 November 2017

These abridged financial statements were approved by the board of directors and authorised for issue on 28 March 2018 , and are signed on behalf of the board by:

Mr S Thompson
Director

Company registration number: 09425163

PE HU Limited

Statement of Changes in Equity

Year ended 30 November 2017

	Called up share capital	Profit and loss account	Total
	£	£	£
At 6 February 2015	–	–	–

Loss for the year		( 56,219)	( 56,219)
	----	--------	--------
Total comprehensive income for the year	–	( 56,219)	( 56,219)

Issue of shares	100	–	100
	----	--------	--------
Total investments by and distributions to owners	100	–	100

At 30 November 2016	100	( 56,219)	( 56,119)

Loss for the year		( 10,554)	( 10,554)
	----	--------	--------
Total comprehensive income for the year	–	( 10,554)	( 10,554)

	----	--------	--------
At 30 November 2017	100	( 66,773)	( 66,673)
	----	--------	--------

PE HU Limited

Notes to the Abridged Financial Statements

Year ended 30 November 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 Swallow House, Parsons Road, Washington, Tyne & Wear, NE37 1EZ.

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 6 February 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 8.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership 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.

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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

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 & Fittings	-	15% reducing balance

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. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

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. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 13 (2016: 15 ).

5. Tangible assets

	£
Cost
At 1 December 2016 and 30 November 2017	63,090
	--------
Depreciation
At 1 December 2016	6,046
Charge for the year	8,557
	--------
At 30 November 2017	14,603
	--------
Carrying amount
At 30 November 2017	48,487
	--------
At 30 November 2016	57,044
	--------

6. Director's advances, credits and guarantees

Included in creditors: amounts falling due after more than one year is a directors loan balance of £103,180 (2016: £106,779).

7. Related party transactions

The company was under the control of Mr S Thompson throughout the current and previous year. Mr S Thompson is the managing director and majority shareholder. No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard for Smaller Entities.

8. Transition to FRS 102

These are the first abridged financial statements that comply with FRS 102. The company transitioned to FRS 102 on 6 February 2015.

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