Picasso Painters Limited,Ltd - AccountsLtd - Accounts

Picasso Painters Limited,Ltd - AccountsLtd - Accounts

PICASSO PAINTERS LIMITED - Company Information

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2017-04-01 07687774 2018-03-31 07687774 2017-04-01 2018-03-31 07687774 2017-03-31 07687774 2016-04-01 2017-03-31 07687774 uk-core:WithinOneYear 2017-03-31 07687774 uk-core:WithinOneYear 2018-03-31 07687774 uk-core:ShareCapital 2018-03-31 07687774 uk-core:ShareCapital 2017-03-31 07687774 uk-core:RetainedEarningsAccumulatedLosses 2018-03-31 07687774 uk-core:RetainedEarningsAccumulatedLosses 2017-03-31 07687774 uk-bus:Director1 2017-04-01 2018-03-31 07687774 uk-core:Goodwill 2017-03-31 07687774 uk-core:Goodwill 2018-03-31 07687774 uk-core:WithinOneYear 2018-03-31 07687774 uk-core:WithinOneYear 2017-03-31 iso4217:GBP 07687774 uk-bus:AuditExemptWithAccountantsReport 2017-04-01 2018-03-31 07687774 uk-bus:FRS102 2017-04-01 2018-03-31 07687774 uk-bus:FullAccounts 2017-04-01 2018-03-31 07687774 uk-bus:PrivateLimitedCompanyLtd 2017-04-01 2018-03-31
Picasso Painters Limited
Registered Number:07687774
For the year ended 31 March 2018
England and Wales
Unaudited Financial Statements
2
For the year ended 31 March 2018
Picasso Painters Limited
Contents Page
1
Statement of Financial Position
2 to 3
Notes to the Financial Statements
3
As at 31 March 2018
Picasso Painters Limited
Statement of Financial Position
Registered Number :
07687774
£
£
2017
2018
Notes
Fixed assets
Intangible assets
10,000
10,000
2
10,000
10,000
Current assets
Inventories
400
400
3
400
400
Trade and other payables: amounts falling due within one
year
(9,623)
(6,304)
4
(9,223)
(5,904)
Net current liabilities
Total assets less current liabilities
4,096
777
4,096
Net assets
777
Capital and reserves
Called up share capital
100
100
Retained earnings
3,996
677
4,096
777
Shareholders' funds
For the year ended 31 March 2018 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 in accordance with Section 476 of the Companies Act 2006
The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper 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 Section
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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Mr R N Yelland Director
These financial statements were approved and authorised for issue by the Board on 19 November 2018 and were signed by:
The notes form part of these financial statements
1 of 3
4
For the year ended 31 March 2018
Picasso Painters Limited
Notes to the Financial Statements
Statutory Information
Picasso Painters Limited is a private limited company, limited by shares, domiciled in England and Wales, registration
number 07687774.
Registered address:
7 Ash Tree Road
Burnham on Sea
Somerset
TA82LB
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A 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 costs convention as
modified by the revaluation of certain assets.
Inventories
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2. Intangible fixed assets
Goodwill
Cost or valuation
£
At 01 April 2017
10,000
At 31 March 2018
10,000
Net book value
At 31 March 2018
10,000
At 31 March 2017
10,000
3. Inventories
2017
2018
£
£
Stocks
400
400
2 of 3
5
For the year ended 31 March 2018
Picasso Painters Limited
Notes to the Financial Statements Continued
4. Trade and other payables: amounts falling due within one year
2017
2018
£
£
Bank loans and overdraft
2,809
2,387
Taxation and social security
1,952
2,665
Accruals and deferred income
840
840
Directors' loan accounts
703
3,731
6,304
9,623
3 of 3