Pricenex Limited Filleted accounts for Companies House (small and micro)
Pricenex Limited Filleted accounts for Companies House (small and micro)
COMPANY REGISTRATION NUMBER:
07431626
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Statement of Financial Position |
2017 |
2016 |
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Note |
£ |
£ |
£ |
Fixed assets
Investments |
4 |
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Current assets
Cash at bank and in hand |
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Creditors: amounts falling due within one year |
5 |
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--------- |
--------- |
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Net current liabilities |
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--------- |
--------- |
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Total assets less current liabilities |
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---- |
---- |
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Capital and reserves
Called up share capital |
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---- |
---- |
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Shareholders funds |
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---- |
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In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
Directors' responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
These financial statements were approved by the
board of directors
and authorised for issue on
24 September 2018
, and are signed on behalf of the board by:
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Director |
Director |
Company registration number:
07431626
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Notes to the 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 The Old School House, Leckhampton Road, Cheltenham, Gloucestershire, GL53 0AX, England.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 December 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 7.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in joint ventures
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.
Finance leases and hire purchase contracts
4.
Investments
Shares in group undertakings |
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£ |
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Cost |
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At 1 December 2016 and 30 November 2017 |
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Impairment |
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At 1 December 2016 and 30 November 2017 |
– |
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Carrying amount |
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At 30 November 2017 |
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--------- |
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At 30 November 2016 |
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--------- |
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5.
Creditors:
amounts falling due within one year
2017 |
2016 |
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£ |
£ |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Other creditors |
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6.
Related party transactions
The company was under the control of Mr and Mrs Cassidy throughout the current period, by virtue of their combined 100% shareholding. Included in creditors is an amount of £325,100 (2016: £325,100) owed to Piff's Elm Limited, a wholly owned subsidiary registered in England and Wales. No further transactions with related parties were undertaken such as are required to be disclosed under FRS102.
7.
Transition to FRS 102
These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 December 2015.
No transitional adjustments were required in equity or profit or loss for the year.