Pendle Ref Wholesale Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01691291 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 April 2018

for

Pendle Refrigeration Wholesale Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

G Greenbank

Mrs K L Greenbank

SECRETARY:

Mrs K L Greenbank

REGISTERED OFFICE:

Unit 1 Withams Mill

Plumbe Street

Burnley

Lancashire

BB11 3AW

REGISTERED NUMBER:

01691291 (England and Wales)

ACCOUNTANTS:

Mayes Business Partnership Ltd

Chartered Certified Accountants

22-28 Willow Street

Accrington

Lancashire

BB5 1LP

FIXED ASSETS

Tangible assets

4

295,541

250,480

CURRENT ASSETS

Stocks

111,448

106,594

Debtors

50,303

38,418

Cash at bank and in hand

27,783

419

189,534

145,431

CREDITORS

Amounts falling due within one year

110,018

142,814

NET CURRENT ASSETS

79,516

2,617

TOTAL ASSETS LESS CURRENT LIABILITIES

375,057

253,097

CREDITORS

Amounts falling due after more than one year

5

191,655

81,095

NET ASSETS

183,402

172,002

CAPITAL AND RESERVES

Called up share capital

7

100

100

Revaluation reserve

8

157,588

164,316

Retained earnings

25,714

7,586

SHAREHOLDERS' FUNDS

183,402

172,002

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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 April 2018 in accordance with Section 444(2A) of the Companies Act 2006.

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 20 November 2018 and were signed on its behalf by:

G Greenbank - Director

1.	STATUTORY INFORMATION

Pendle Refrigeration Wholesale 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 as modified by the revaluation of certain assets.

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.

Freehold property

-

2% on valuation

Plant and machinery

-

15% on cost

Fixtures and fittings

-

15% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

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 balance sheet date.

Deferred tax

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

sheet 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at

the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

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.

Government grants

Government grants received in respect of expenditure charged to the profit and loss account during the year have

been included in profit and loss.The remainder are deferred and included in the profit and loss account by

instalments over the expected useful lives of the related assets.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2017 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST OR VALUATION

At 1 May 2017

355,084

Additions

52,648

At 30 April 2018

407,732

DEPRECIATION

At 1 May 2017

104,604

Charge for year

7,587

At 30 April 2018

112,191

NET BOOK VALUE

At 30 April 2018

295,541

At 30 April 2017

250,480

Cost or valuation at 30 April 2018 is represented by:

Totals

£

Valuation in 2007

168,220

Cost

239,512

407,732

If freehold land and buildings had not been revalued they would have been included at the following historical

cost:

30/4/18

30/4/17

£

£

Cost

141,780

141,780

Aggregate depreciation

53,779

50,943

Freehold land and buildings were valued on an open market basis on 30 April 2007 by Petty Chartered Surveyors

.

5.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

30/4/18

30/4/17

£

£

Repayable by instalments

Bank loans more 5 yr by instal

-

44,675

6.	SECURED DEBTS

The following secured debts are included within creditors:

30/4/18

30/4/17

£

£

Bank overdraft

-

17,173

Bank loans

195,000

-

195,000

17,173

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30/4/18

30/4/17

value:

£

£

100

Ordinary

£1

100

100

8.

RESERVES

Revaluation

reserve

£

At 1 May 2017

164,316

Transfer

(6,728

)

At 30 April 2018

157,588

9.	ULTIMATE CONTROLLING PARTY

The controlling party is G Greenbank.