ACCOUNTS - Final Accounts

ACCOUNTS - Final Accounts

PEDALGLASS LIMITED - Company Information

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Caseware UK (AP4) 2016.0.208 2016.0.208 2018-03-312018-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truefalseInvestment companyfalse2017-04-01 05794366 2017-04-01 2018-03-31 05794366 2016-04-01 2017-03-31 05794366 2018-03-31 05794366 2017-03-31 05794366 c:Director1 2017-04-01 2018-03-31 05794366 d:Non-currentFinancialInstruments d:UnlistedNon-exchangeTraded 2018-03-31 05794366 d:Non-currentFinancialInstruments d:UnlistedNon-exchangeTraded 2017-03-31 05794366 d:CurrentFinancialInstruments 2018-03-31 05794366 d:CurrentFinancialInstruments 2017-03-31 05794366 d:CurrentFinancialInstruments d:WithinOneYear 2018-03-31 05794366 d:CurrentFinancialInstruments d:WithinOneYear 2017-03-31 05794366 d:ShareCapital 2018-03-31 05794366 d:ShareCapital 2017-03-31 05794366 d:RetainedEarningsAccumulatedLosses 2018-03-31 05794366 d:RetainedEarningsAccumulatedLosses 2017-03-31 05794366 c:FRS102 2017-04-01 2018-03-31 05794366 c:AuditExempt-NoAccountantsReport 2017-04-01 2018-03-31 05794366 c:FullAccounts 2017-04-01 2018-03-31 05794366 c:PrivateLimitedCompanyLtd 2017-04-01 2018-03-31 05794366 d:EntityWithJointControlOrSignificantInfluence5 2017-04-01 2018-03-31 05794366 d:EntityWithJointControlOrSignificantInfluence5 2018-03-31 05794366 d:EntityWithJointControlOrSignificantInfluence5 2017-03-31 iso4217:GBP xbrli:pure

Registered number: 05794366









PEDALGLASS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2018
 
PEDALGLASS LIMITED
 

CONTENTS



Page
Balance sheet
 
1 - 2
Notes to the financial statements
 
3 - 5

 
PEDALGLASS LIMITED
REGISTERED NUMBER: 05794366

BALANCE SHEET
AS AT 31 MARCH 2018

2018
2017
Note
£
£

Fixed assets
  

Investments
 4 
2,000,501
2,000,501

  
2,000,501
2,000,501

Current assets
  

Debtors: amounts falling due within one year
 5 
-
132,945

Cash at bank and in hand
 6 
665
935

  
665
133,880

Creditors: amounts falling due within one year
 7 
(1,354,584)
(1,785,522)

Net current liabilities
  
 
 
(1,353,919)
 
 
(1,651,642)

Total assets less current liabilities
  
646,582
348,859

  

Net assets
  
646,582
348,859

Page 1
 
PEDALGLASS LIMITED
REGISTERED NUMBER: 05794366
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2018

2018
2017
Note
£
£

Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
646,581
348,858

  
646,582
348,859


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 11 December 2018.




B Patel
Director

The notes on pages 3 to 5 form part of these financial statements.

Page 2
 
PEDALGLASS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018

1.


General information

Pedalglass Limited is a private company, limited by shares and incorporated in England and Wales, United Kingdom, with a registration number 05794366. The address of the registered office is Haslers, Old Station Road, Essex, IG10 4PL. The company's principal activity during the year continued to be that of investment company.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest pound sterling.

The following principal accounting policies have been applied:

 
2.2

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.3

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.4

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.5

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.6

Financial instruments

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Page 3
 
PEDALGLASS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018

3.


Employees

Staff costs were as follows:


The average monthly number of employees, including directors, during the year was 1 (2017 - 1).


4.


Fixed asset investments





Unlisted investments

£



Cost or valuation


At 1 April 2017
2,000,501



At 31 March 2018

2,000,501






Net book value



At 31 March 2018
2,000,501



At 31 March 2017
2,000,501


5.


Debtors

2018
2017
£
£


Other debtors
-
132,945

-
132,945



6.


Cash and cash equivalents

2018
2017
£
£

Cash at bank and in hand
665
935

665
935


Page 4
 
PEDALGLASS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018

7.


Creditors: Amounts falling due within one year

2018
2017
£
£

Trade creditors
1,142
881

Other creditors
1,351,702
1,783,306

Accruals and deferred income
1,740
1,335

1,354,584
1,785,522



8.


Related party transactions

At the year-end following amounts were due from/(to) the related parties:


2018
2017
£
£

Entities under common control
(1,251,701)
(1,682,356)
(1,251,701)
(1,682,356)


9.


Controlling party

The ultimate controlling party at the year-end was B Patel, by virtue of his majority shareholding in the company.

 
Page 5