Company Registration No. 03844095 (England and Wales)
Product Assessment and Reliability Centre Limited
Unaudited accounts
for the year ended 31 December 2017
Product Assessment and Reliability Centre Limited
Unaudited accounts
Contents
Product Assessment and Reliability Centre Limited
Company Information
for the year ended 31 December 2017
Directors
S Torrez
Sopemea SAS
Company Number
03844095 (England and Wales)
Registered Office
Unit 4
Alverdiscott Road Ins Est
Bideford
Devon
EX39 4LQ
Accountants
JD Accountants (Barnstaple) Ltd
Suite 2, Riverside Court
Castle Street
Barnstaple
Devon
EX31 1DR
Product Assessment and Reliability Centre Limited
Statement of financial position
as at
31 December 2017
Tangible assets
1,413,076
1,443,406
Cash at bank and in hand
229,782
27,000
Creditors: amounts falling due within one year
(402,682)
(357,518)
Net current assets/(liabilities)
112,531
(97,707)
Total assets less current liabilities
1,525,607
1,345,699
Creditors: amounts falling due after more than one year
(695,741)
(669,506)
Provisions for liabilities
Deferred tax
(134,654)
(126,959)
Net assets
695,212
549,234
Called up share capital
34,022
34,022
Revaluation reserve
394
1,027
Capital redemption reserve
17,011
17,011
Profit and loss account
643,785
497,174
Shareholders' funds
695,212
549,234
For the year ending 31 December 2017 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.
Approved by the Board on 1 June 2018.
S Torrez
Director
Company Registration No. 03844095
Product Assessment and Reliability Centre Limited
Notes to the Accounts
for the year ended 31 December 2017
Product Assessment and Reliability Centre Limited is a private company, limited by shares, registered in England and Wales, registration number 03844095. The registered office is Unit 4 , Alverdiscott Road Ins Est, Bideford, Devon, EX39 4LQ.
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.
These financial statements for the year ended 31 December 2017 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 January 2016
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.
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:
Land & buildings
Straight line of the life of the asset
Plant & machinery
Straight line over 3 to 10 years
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
4
Tangible fixed assets
Land & buildings
Plant & machinery
Total
Cost or valuation
At cost
At cost
At 1 January 2017
723,275
1,934,545
2,657,820
Additions
-
115,718
115,718
Disposals
-
(3,803)
(3,803)
At 31 December 2017
723,275
2,046,460
2,769,735
At 1 January 2017
33,778
1,180,636
1,214,414
Charge for the year
16,929
128,266
145,195
On disposals
-
(2,950)
(2,950)
At 31 December 2017
50,707
1,305,952
1,356,659
At 31 December 2017
672,568
740,508
1,413,076
At 31 December 2016
689,497
753,909
1,443,406
Product Assessment and Reliability Centre Limited
Notes to the Accounts
for the year ended 31 December 2017
Trade debtors
275,497
225,411
Other debtors
9,934
7,400
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Creditors: amounts falling due within one year
2017
2016
Bank loans and overdrafts
60,016
47,919
Trade creditors
53,082
139,863
Taxes and social security
118,560
59,371
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Creditors: amounts falling due after more than one year
2017
2016
Bank loans
410,942
553,202
Amounts owed to group undertakings and other participating interests
125,396
-
Deferred income
159,403
116,304
The bank loans and finance agreements are secured with a fixed and floating charge over the assets of the company. The directors of the company have offered guarantees to secure the liabilities of the company.
8
Share capital
2017
2016
Allotted, called up and fully paid:
34,022 Ordinary shares of £1 each
34,022
34,022
The company is controlled by its parent company
10
Average number of employees
During the year the average number of employees was 19 (2016: 17).