Company Registration No. 02626906 (England and Wales)
Product Chain Limited
Unaudited accounts
for the year ended 30 December 2020
Product Chain Limited
Unaudited accounts
Contents
Product Chain Limited
Company Information
for the year ended 30 December 2020
Directors
S D Esom
Mrs F Esom
Company Number
02626906 (England and Wales)
Registered Office
4 Reading Road
Danehill
Pangbourne
Berkshire
RG8 7LY
GBR
Accountants
Maude Accounting Limited
19 Summer Avenue
East Molesey
Surrey
KT8 9LU
Product Chain Limited
Statement of financial position
as at
30 December 2020
Tangible assets
6,365
12,007
Creditors: amounts falling due within one year
(310,648)
(556,395)
Net current assets
140,948
48,462
Total assets less current liabilities
147,314
60,470
Creditors: amounts falling due after more than one year
(50,000)
-
Called up share capital
100
100
Profit and loss account
97,214
60,370
Shareholders' funds
97,314
60,470
For the year ending 30 December 2020 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 26 May 2021 and were signed on its behalf by
Mrs F Esom
Director
Company Registration No. 02626906
Product Chain Limited
Notes to the Accounts
for the year ended 30 December 2020
Product Chain Limited is a private company, limited by shares, registered in England and Wales, registration number 02626906. The registered office is 4 Reading Road, Danehill, Pangbourne, Berkshire, RG8 7LY, GBR.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Investments in subsidiaries
Investments in subsidiary undertakings have been impaired and are recognised at fair value.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
33% on cost
Motor vehicles
33% on cost
Fixtures & fittings
33% on cost
Computer equipment
33% on cost
Monetary 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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Product Chain Limited
Notes to the Accounts
for the year ended 30 December 2020
4
Tangible fixed assets
Land & buildings
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 31 December 2019
27,567
23,964
3,962
190,073
245,566
Additions
-
-
1,234
1,688
2,922
Disposals
-
-
-
(156,008)
(156,008)
At 30 December 2020
27,567
23,964
5,196
35,753
92,480
At 31 December 2019
27,567
23,964
3,962
178,066
233,559
Charge for the year
-
-
-
9,491
9,491
On disposals
-
-
-
(156,935)
(156,935)
At 30 December 2020
27,567
23,964
3,962
30,622
86,115
At 30 December 2020
-
-
1,234
5,131
6,365
At 30 December 2019
-
-
-
12,007
12,007
5
Investments
Subsidiary undertakings
Valuation at 31 December 2019
1
Valuation at 30 December 2020
1
6
Debtors: amounts falling due within one year
2020
2019
Trade debtors
36,739
41,524
Amounts due from group undertakings etc.
334,954
498,990
Accrued income and prepayments
79,903
63,876
7
Creditors: amounts falling due within one year
2020
2019
Bank loans and overdrafts
34,139
67,478
Trade creditors
42,565
19,922
Amounts owed to group undertakings and other participating interests
140,311
360,311
Taxes and social security
8,402
14,530
Other creditors
2,156
2,180
Loans from directors
45,000
22,320
National Westminster Bank plc holds a fixed and floating charge over all of the company's assets created on 29th April 2010
Product Chain Limited
Notes to the Accounts
for the year ended 30 December 2020
8
Creditors: amounts falling due after more than one year
2020
2019
A Covid Bounce Back Loan of £50,000 was received in June 2020, repayable over 9 years from January 2022 with no security given.
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the profit or loss in the period to which they relate.
10
Average number of employees
During the year the average number of employees was 10 (2019: 12).