Pelican Property Services Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01914921 (England and Wales)

Unaudited Financial Statements for the Year Ended 31st May 2018

for

Pelican Property Services Limited

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTOR:

N Boone

SECRETARY:

L J Boone

REGISTERED OFFICE:

147a High Street

Waltham Cross

Hertfordshire

EN8 7AP

REGISTERED NUMBER:

01914921 (England and Wales)

ACCOUNTANTS:

Thickbroom Coventry Limited

Chartered Accountants

147a High Street

Waltham Cross

Hertfordshire

EN8 7AP

The following reproduces the text of the report prepared for the director in respect of the

company's annual unaudited financial statements. In accordance with the Companies Act

2006, the company is only required to file a Balance Sheet. Readers are cautioned that the

Income Statement and certain other primary statements and the Report of the Director are

not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for

your approval the financial statements of Pelican Property Services Limited for the year ended

31st May 2018 which comprise the Statement of Income and Retained Earnings, Balance Sheet

and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Pelican Property Services Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Pelican Property Services Limited and state those matters that we have agreed to state to the director of Pelican Property Services Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Pelican Property Services Limited and its director for our work or for this report.

It is your duty to ensure that Pelican Property Services Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Pelican Property Services Limited. You consider that Pelican Property Services Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Pelican Property Services Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Thickbroom Coventry Limited

Chartered Accountants

147a High Street

Waltham Cross

Hertfordshire

EN8 7AP

Date: .............................................

FIXED ASSETS

Tangible assets

4

3,449

3,232

CURRENT ASSETS

Debtors

5

20,640

30,355

Cash at bank

8,078

22,717

28,718

53,072

CREDITORS

Amounts falling due within one year

6

35,808

56,630

NET CURRENT LIABILITIES

(7,090

)

(3,558

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(3,641

)

(326

)

PROVISIONS FOR LIABILITIES

655

614

NET LIABILITIES

(4,296

)

(940

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(4,396

)

(1,040

)

(4,296

)

(940

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 4th February 2019 and were signed by:

N Boone - Director

1.	STATUTORY INFORMATION

Pelican Property Services 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.

Plant and machinery etc

-

15 - 25% on reducing balance

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.

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 1 (2017 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1st June 2017

17,071

18,400

7,557

43,028

Additions

-

-

1,082

1,082

At 31st May 2018

17,071

18,400

8,639

44,110

DEPRECIATION

At 1st June 2017

15,735

18,087

5,974

39,796

Charge for year

199

78

588

865

At 31st May 2018

15,934

18,165

6,562

40,661

NET BOOK VALUE

At 31st May 2018

1,137

235

2,077

3,449

At 31st May 2017

1,336

313

1,583

3,232

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

11,468

24,603

Other debtors

9,172

5,752

20,640

30,355

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

23,799

27,848

Taxation and social security

332

5,440

Other creditors

11,677

23,342

35,808

56,630

7.	RELATED PARTY DISCLOSURES

At the balance sheet date £456 (2017: £19,663) is due from N Boone, the director of the

company, in respect of an interest free loan.

N Boone is also a director of Pelican Environmental Services Limited and Morne Properties

Limited,

At the balance sheet date £282 (2017: £219) is due from Pelican Environmental Services n

repect of an interest free loan.

£4,922 (2017: £4,922) is due from Morne Properties Limited, for sales. The balance is

deemed recoverable at the date of approval, so no provision has been raised.