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Unaudited Financial Statements for the Year Ended 31st July 2020 |
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Potteries Demolition Company Limited |
REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31st July 2020 |
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for |
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Potteries Demolition Company Limited |
Potteries Demolition Company Limited (Registered number: 00984018) |
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Contents of the Financial Statements |
for the Year Ended 31st July 2020 |
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Page |
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Balance Sheet | 1 |
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Notes to the Financial Statements | 3 |
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Potteries Demolition Company Limited (Registered number: 00984018) |
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Balance Sheet |
31st July 2020 |
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31.7.20 | 31.7.19 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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Investments | 6 |
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CURRENT ASSETS |
Stocks |
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Debtors | 7 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 8 |
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NET CURRENT ASSETS/(LIABILITIES) |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than
one year |
9 |
( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Revaluation reserve | 10 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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Potteries Demolition Company Limited (Registered number: 00984018) |
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Balance Sheet - continued |
31st July 2020 |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Profit and Loss account has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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Potteries Demolition Company Limited (Registered number: 00984018) |
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Notes to the Financial Statements |
for the Year Ended 31st July 2020 |
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1. | STATUTORY INFORMATION |
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Potteries Demolition Company Limited is a
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England and Wales. The company's registered number and registered office address are as below: |
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Registered number: | 00984018 |
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Registered office: | Burnham Street |
Fenton |
Stoke On Trent |
Staffordshire |
ST4 3EX |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents net invoiced sales of goods and services, excluding value added tax. |
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Revenue is recognised as the company becomes entitled to consideration for the goods and |
services supplied. Therefore, turnover also includes the element of work completed but not yet |
invoiced on service contracts. |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are |
measured at cost less any accumulated amortisation and any accumulated impairment losses. |
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Tangible fixed assets |
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Plant and machinery | - |
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Motor vehicles | - |
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Computer equipment | - |
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Freehold property contains significant amounts of land with negligible buildings. The directors feel |
that the value of these assets would not be impaired by the passage of time. As a consequence, any |
element of depreciation would, in the opinion of the directors, be immaterial. |
Potteries Demolition Company Limited (Registered number: 00984018) |
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Notes to the Financial Statements - continued |
for the Year Ended 31st July 2020 |
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2. | ACCOUNTING POLICIES - continued |
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Investments in associates |
Investments in associate undertakings are recognised at cost. |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for |
obsolete and slow moving items. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss |
account, except to the extent that it relates to items recognised in other comprehensive income or |
directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed |
at the balance sheet date. |
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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. |
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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. |
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Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. |
Those held under hire purchase contracts are depreciated over their estimated useful lives. Those |
held under finance leases are depreciated over their estimated useful lives or the lease term, |
whichever is the shorter. |
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The interest element of these obligations is charged to profit or loss over the relevant period. The |
capital element of the future payments is treated as a liability. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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Potteries Demolition Company Limited (Registered number: 00984018) |
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Notes to the Financial Statements - continued |
for the Year Ended 31st July 2020 |
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4. | INTANGIBLE FIXED ASSETS |
Patents |
and |
licences |
£ |
COST |
At 1st August 2019 |
and 31st July 2020 |
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AMORTISATION |
At 1st August 2019 |
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Amortisation for year |
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At 31st July 2020 |
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NET BOOK VALUE |
At 31st July 2020 |
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At 31st July 2019 |
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5. | TANGIBLE FIXED ASSETS |
Improvements |
Freehold | to | Plant and |
property | property | machinery |
£ | £ | £ |
COST OR VALUATION |
At 1st August 2019 |
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Additions |
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Disposals |
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At 31st July 2020 |
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DEPRECIATION |
At 1st August 2019 |
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Charge for year |
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Eliminated on disposal |
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At 31st July 2020 |
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NET BOOK VALUE |
At 31st July 2020 |
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At 31st July 2019 |
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Potteries Demolition Company Limited (Registered number: 00984018) |
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Notes to the Financial Statements - continued |
for the Year Ended 31st July 2020 |
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5. | TANGIBLE FIXED ASSETS - continued |
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Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1st August 2019 |
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Additions |
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Disposals |
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( |
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At 31st July 2020 |
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DEPRECIATION |
At 1st August 2019 |
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Charge for year |
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Eliminated on disposal |
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At 31st July 2020 |
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NET BOOK VALUE |
At 31st July 2020 |
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At 31st July 2019 |
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Cost or valuation at 31st July 2020 is represented by: |
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Improvements |
Freehold | to | Plant and |
property | property | machinery |
£ | £ | £ |
Valuation in 2018 | 1,083,892 | - | - |
Cost | 268,821 | 24,711 | 1,768,710 |
1,352,713 | 24,711 | 1,768,710 |
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Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
Valuation in 2018 | - | - | 1,083,892 |
Cost | 1,019,468 | 720 | 3,082,430 |
1,019,468 | 720 | 4,166,322 |
Potteries Demolition Company Limited (Registered number: 00984018) |
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Notes to the Financial Statements - continued |
for the Year Ended 31st July 2020 |
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5. | TANGIBLE FIXED ASSETS - continued |
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If freehold land and buildings had not been revalued they would have been included at the following |
historical cost: |
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31.7.20 | 31.7.19 |
£ | £ |
Cost | 268,821 | 268,821 |
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Freehold land and buildings were valued on a market value basis on 31st July 2018 by director Mr S Edwards |
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Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Motor |
vehicles |
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COST OR VALUATION |
At 1st August 2019 |
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Transfer to ownership | (98,000 | ) |
At 31st July 2020 |
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DEPRECIATION |
At 1st August 2019 |
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Charge for year |
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Transfer to ownership | (42,875 | ) |
At 31st July 2020 |
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NET BOOK VALUE |
At 31st July 2020 |
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At 31st July 2019 |
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6. | FIXED ASSET INVESTMENTS |
Interest |
in |
associate |
£ |
COST |
At 1st August 2019 |
and 31st July 2020 |
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NET BOOK VALUE |
At 31st July 2020 |
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At 31st July 2019 |
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Potteries Demolition Company Limited (Registered number: 00984018) |
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Notes to the Financial Statements - continued |
for the Year Ended 31st July 2020 |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.20 | 31.7.19 |
£ | £ |
Trade debtors |
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Other debtors |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.20 | 31.7.19 |
£ | £ |
Hire purchase contracts |
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Trade creditors |
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Amounts owed to group undertakings |
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Taxation and social security |
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Other creditors |
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9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.7.20 | 31.7.19 |
£ | £ |
Bank loans |
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Hire purchase contracts |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans more 5 yr by instal | 50,000 | - |
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10. | RESERVES |
Revaluation |
reserve |
£ |
At 1st August 2019 |
and 31st July 2020 |
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