Prescross Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08019924 (England and Wales)

PRESCROSS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2018

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J F Thomas

Mrs L M Thomas

REGISTERED OFFICE:

West Lodge

Rainbow Street

Leominster

Herefordshire

HR6 8DQ

REGISTERED NUMBER:

08019924 (England and Wales)

ACCOUNTANTS:

Davies Edwards & Co

Chartered Certified Accountants

West Lodge

Rainbow Street

Leominster

Herefordshire

HR6 8DQ

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

1,035

1,269

1,035

1,269

CURRENT ASSETS

Stocks

5,940

3,000

Debtors

6

49,407

-

Cash at bank

58,866

47,360

114,213

50,360

CREDITORS

Amounts falling due within one year

7

45,606

21,245

NET CURRENT ASSETS

68,607

29,115

TOTAL ASSETS LESS CURRENT LIABILITIES

69,642

30,384

PROVISIONS FOR LIABILITIES

197

253

NET ASSETS

69,445

30,131

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

9

69,345

30,031

SHAREHOLDERS' FUNDS

69,445

30,131

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2018 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 22 August 2018 and were signed on its behalf by:

J F Thomas - Director

1.	STATUTORY INFORMATION

Prescross 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.

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.

Intangible assets

Formation costs were fully amortised in the first period of trading.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Office equipment

-

20% on reducing balance

Computer equipment

-

33% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2017 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Formation

costs

£

COST

At 1 May 2017

and 30 April 2018

179

AMORTISATION

At 1 May 2017

and 30 April 2018

179

NET BOOK VALUE

At 30 April 2018

-

At 30 April 2017

-

5.	TANGIBLE FIXED ASSETS

Office

Computer

equipment

equipment

Totals

£

£

£

COST

At 1 May 2017

690

3,472

4,162

Additions

-

969

969

Disposals

-

(366

)

(366

)

At 30 April 2018

690

4,075

4,765

DEPRECIATION

At 1 May 2017

463

2,430

2,893

Charge for year

45

1,158

1,203

Eliminated on disposal

-

(366

)

(366

)

At 30 April 2018

508

3,222

3,730

NET BOOK VALUE

At 30 April 2018

182

853

1,035

At 30 April 2017

227

1,042

1,269

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

47,930

-

Social security and other taxes

1,477

-

49,407

-

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

47

913

Tax

31,793

13,702

Social security and other taxes

157

173

VAT

10,380

2,882

Directors' current accounts

2,080

2,200

Accruals and deferred income

1,149

1,375

45,606

21,245

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

100

Ordinary

£1

100

100

9.

RESERVES

Retained

earnings

£

At 1 May 2017

30,031

Profit for the year

135,314

Dividends

(96,000

)

At 30 April 2018

69,345

10.	RELATED PARTY DISCLOSURES

During the year, total dividends of £96,000 were paid to the directors .