Patrick Allen & Associates Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04694261 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2018

FOR

PATRICK ALLEN & ASSOCIATES LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

P A Boswell

A P Catton

P R Wright

SECRETARY:

P A Boswell

REGISTERED OFFICE:

Crane Court

302 London Road

Ipswich

Suffolk

IP2 0AJ

BUSINESS ADDRESS:

2 Grange Business Centre

Tommy Flowers Drive

Grange Farm, Kesgrave

Ipswich

Suffolk

IP5 2BY

REGISTERED NUMBER:

04694261 (England and Wales)

ACCOUNTANTS:

Ballams

Chartered Accountants

Crane Court

302 London Road

Ipswich

Suffolk

IP2 0AJ

BANKERS:

HSBC

37 The Thoroughfare

Woodbridge

Suffolk

IP12 1AH

FIXED ASSETS

Tangible assets

4

2,149

3,012

CURRENT ASSETS

Stocks

5

57,275

58,800

Debtors

6

23,586

28,239

Cash at bank

108,149

58,386

189,010

145,425

CREDITORS

Amounts falling due within one year

7

60,560

42,355

NET CURRENT ASSETS

128,450

103,070

TOTAL ASSETS LESS CURRENT LIABILITIES

130,599

106,082

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

130,499

105,982

SHAREHOLDERS' FUNDS

130,599

106,082

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 18 October 2018 and were signed on its behalf by:

P A Boswell - Director

A P Catton - Director

P R Wright - Director

1.	STATUTORY INFORMATION

Patrick Allen & Associates Limited 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.

Tangible fixed assets

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

Fixtures and fittings

-

25% 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.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of

financial assets and liabilities like trade and other accounts receivable and payable and loans with

related parties.

Debt instruments that are payable or receivable within one year, such as trade payables or receivables,

are measured at the undiscounted amount of the cash or other consideration expected to be paid or

received. Debt instruments that are repayable or receivable after one year are initially measured at the

present value of the future cash flows and subsequently at amortised cost using the effective interest

method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each financial

year for evidence of impairment. If objective evidence of impairment is found an impairment loss is

recognised in the Income Statement.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement,

except to the extent that it relates to items recognised in other comprehensive income or directly in

equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been

enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods

different from those in which they are recognised in financial statements. Deferred tax is measured

using tax rates and laws that have been enacted or substantively enacted by the year end and that are

expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable

that they will be recovered against the reversal of deferred tax liabilities or other future taxable

profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2017 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 May 2017

18,576

Additions

888

At 30 April 2018

19,464

DEPRECIATION

At 1 May 2017

15,564

Charge for year

1,751

At 30 April 2018

17,315

NET BOOK VALUE

At 30 April 2018

2,149

At 30 April 2017

3,012

5.

STOCKS

2018

2017

£

£

Work-in-progress

57,275

58,800

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

15,708

25,575

Other debtors

7,878

2,664

23,586

28,239

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

7,940

877

Taxation and social security

48,256

37,331

Other creditors

4,364

4,147

60,560

42,355

8.	RELATED PARTY DISCLOSURES

During the year, total dividends of £104,535 were paid to the directors .