PINAR (UK) LTD
|
Notes to the Accounts |
for the year ended 30 June 2020
|
|
|
1 |
Accounting policies |
|
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
|
|
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of dry cleaning services.
|
|
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on tangible fixed assets,Otherthan the leasehold property, at rates calculated to write off the cost, less estimated residual value, as follows:
|
|
|
|
Fixtures, fittings & equipment |
18% Reducing balance |
|
|
|
Stocks |
|
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
|
|
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
|
|
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price).
|
|
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. . Current and deferred tax assets and liabilities are not discounted.
|
|
|
2 |
Employees |
2020 |
|
2019 |
Number |
Number |
|
|
Average number of persons employed by the company |
2 |
|
2 |
|
|
|
|
|
|
|
|
|
|
3 |
Tangible fixed assets |
|
|
|
|
Leasehold property |
|
Fix, fittings & equipment |
|
Total |
£ |
£ |
£ |
|
Cost |
|
At 1 July 2019 |
18,032 |
|
1,600 |
|
19,632 |
|
At 30 June 2020 |
18,032 |
|
1,600 |
|
19,632 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 July 2019 |
- |
|
524 |
|
524 |
|
Charge for the year |
- |
|
194 |
|
194 |
|
At 30 June 2020 |
- |
|
718 |
|
718 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 30 June 2020 |
18,032 |
|
882 |
|
18,914 |
|
At 30 June 2019 |
18,032 |
|
1,076 |
|
19,108 |
|
|
4 |
Creditors: amounts falling due within one year |
2020 |
|
2019 |
£ |
£ |
|
|
Trade creditors |
1,284 |
|
3,564 |
|
Taxation and social security costs |
805 |
|
397 |
|
Accrued expenses & other creditors |
6,150 |
|
6,802 |
|
|
|
|
|
|
8,239 |
|
10,763 |
|
|
|
|
|
|
|
|
|
|
5 |
Other information |
|
|
PINAR (UK) LTD is a private company limited by shares and incorporated in England. Its registered office is: |
|
7 Lynton Parade |
|
Turners Hill |
|
Waltham Cross |
|
Cheshunt, Herts |
|
EN8 8LF |