Accounts filed on 31-12-2017

Accounts filed on 31-12-2017

PERKINS ASSOCIATES (U.K.) LTD - Company Information

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Registered number: 03032712
Perkins Associates (UK) Limited
ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2017
Prepared By:
Brieley Grimsdell Falconer Ltd
Chartered Tax Advisers and Accountants
14 Regent Street
Kimberley
Nottingham
NG16 2LW
Perkins Associates (UK) Limited
ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2017
DIRECTORS
Mr A A Perkins
SECRETARY
Mr S Perkins (resigned 6/3/17)
REGISTERED OFFICE
26 Station Road
Draycott
Derbys
DE72 3QB
COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number 03032712
BANKERS
Yorkshire Bank, 28 St Peter's Street, Derby, DE1 1SL
ACCOUNTANTS
Brieley Grimsdell Falconer Ltd
Chartered Tax Advisers and Accountants
14 Regent Street
Kimberley
Nottingham
NG16 2LW
Perkins Associates (UK) Limited
ACCOUNTS
FOR THEYEARENDED31 DECEMBER 2017
CONTENTS
Page
Directors' Report-
Accountants' Report-
Statement Of Comprehensive Income-
Balance Sheet3
Notes To The Accounts4
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account-
Profit And Loss Account Summaries-
Perkins Associates (UK) Limited
BALANCE SHEET AT 31 December 2017
20172016
Notes££
FIXED ASSETS
Intangible assets3-400
Tangible assets48,5349,811
8,53410,211
CURRENT ASSETS
Stock11,88914,606
Debtors638,58628,008
Cash at bank and in hand34,25539,322
84,73081,936
CREDITORS: Amounts falling due within one year733,77976,872
NET CURRENT ASSETS50,9515,064
TOTAL ASSETS LESS CURRENT LIABILITIES59,48515,275
CREDITORS: Amounts falling due after more than one year850,937-
PROVISIONS FOR LIABILITIES AND CHARGES101,1781,319
NET ASSETS7,37013,956
CAPITAL AND RESERVES
Called up share capital1111
Profit and loss account7,36913,955
SHAREHOLDERS' FUNDS7,37013,956
For the year ending 31 December 2017 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 27 July 2018 and signed on their behalf by
.............................
Mr A A Perkins
Director
Perkins Associates (UK) Limited
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2017
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .
1b. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Land And Buildingsreducing balance 20%
Fixtures and Fittingsreducing balance 15%
Equipmentreducing balance 20%
1c. Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.
1d. Goodwill
Goodwill arising in connection with the acquisition of businesses is capitalised and amortised over its estimated economic life to a maximum of 20 years. Goodwill is reviewed annually for impairment if events or changes in circumstances indicate that the carrying value may not be recoverable.
2. EMPLOYEES
20172016
No.No.
Average number of employees23
Perkins Associates (UK) Limited
3. INTANGIBLE FIXED ASSETS
Purchased
GoodwillTotal
££
Cost
At 1 January 2017127,000127,000
At 31 December 2017127,000127,000
Depreciation
At 1 January 2017126,600126,600
For the year400400
At 31 December 2017127,000127,000
Net Book Amounts
At 31 December 2017--
At 31 December 2016400400
4. TANGIBLE FIXED ASSETS
Land AndPlant and
BuildingsMachinery Etc.Total
£££
Cost
At 1 January 20172,54944,24046,789
Additions-1,3991,399
At 31 December 20172,54945,63948,188
Depreciation
At 1 January 20171,68635,29236,978
For the year1732,5032,676
At 31 December 20171,85937,79539,654
Net Book Amounts
At 31 December 20176907,8448,534
At 31 December 20168638,9489,811
5. STOCK 20172016
££
Stock comprises:
Stock11,88914,606
11,88914,606
Perkins Associates (UK) Limited
6. DEBTORS 20172016
££
Amounts falling due within one year:
Trade debtors38,08627,508
Other debtors500500
38,58628,008
7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20172016
££
UK corporation tax3,2363,671
VAT9,0599,551
PAYE control5-
Salaries and wages control652-
Directors current account-59,734
Bank Loan6,327-
Trade creditors10,252628
Accruals4,2483,288
33,77976,872
8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
20172016
££
Bank loans and overdrafts50,937-
50,937-
The bank loan was obtained by the company in January 2017 and is repayable in monthly instalments of £527.25.
Perkins Associates (UK) Limited
9. SECURED CREDITORS
20172016
££
Amount of bank loans and overdrafts which are secured57,264-
The bank loan is secured by a first legal charge on a property owned by the director and a personal guarantee for £100,000.
10. PROVISIONS FOR LIABILITIES 20172016
££
Deferred taxation1,1781,319
1,1781,319
11. SHARE CAPITAL 20172016
££
Allotted, issued and fully paid:
1 Ordinary shares of £1 each11
11
12. CONTROLLING PARTY
The company is controlled by the director, Mr A A Perkins, who owns all of the issued share capital of the company.
13. RELATED PARTY TRANSACTIONS
At 31 December 2017, the company owed the director £Nil (2016: £59,734).