Company Registration No. 03844095 (England and Wales)
Product Assessment and Reliability Centre Limited
Unaudited accounts
for the year ended 31 December 2021
Product Assessment and Reliability Centre Limited
Unaudited accounts
Contents
Product Assessment and Reliability Centre Limited
Company Information
for the year ended 31 December 2021
Directors
R Tabor
Sopemea SAS
Apave Developpement
Company Number
03844095 (England and Wales)
Registered Office
Unit 4
Alverdiscott Road Ins Est
Bideford
Devon
EX39 4LQ
Accountants
JD Accountants (South West) 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 2021
Tangible assets
1,227,946
1,313,971
Cash at bank and in hand
1,225,561
869,191
Creditors: amounts falling due within one year
(381,783)
(375,094)
Net current assets
1,085,570
785,196
Total assets less current liabilities
2,313,516
2,099,167
Creditors: amounts falling due after more than one year
(387,199)
(429,211)
Provisions for liabilities
Deferred tax
(112,571)
(125,399)
Net assets
1,813,746
1,544,557
Called up share capital
34,022
34,022
Capital redemption reserve
17,011
17,011
Profit and loss account
1,762,713
1,493,524
Shareholders' funds
1,813,746
1,544,557
For the year ending 31 December 2021 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 17 March 2022 and were signed on its behalf by
Sopemea SAS
Director
Company Registration No. 03844095
Product Assessment and Reliability Centre Limited
Notes to the Accounts
for the year ended 31 December 2021
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.
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.
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.
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Tangible fixed assets
Land & buildings
Plant & machinery
Total
Cost or valuation
At cost
At cost
At 1 January 2021
736,764
2,457,960
3,194,724
Additions
-
93,543
93,543
At 31 December 2021
736,764
2,551,503
3,288,267
At 1 January 2021
100,324
1,780,429
1,880,753
Charge for the year
15,353
164,215
179,568
At 31 December 2021
115,677
1,944,644
2,060,321
At 31 December 2021
621,087
606,859
1,227,946
At 31 December 2020
636,440
677,531
1,313,971
Product Assessment and Reliability Centre Limited
Notes to the Accounts
for the year ended 31 December 2021
5
Debtors: amounts falling due within one year
2021
2020
Trade debtors
226,610
279,466
Other debtors
15,182
11,633
6
Creditors: amounts falling due within one year
2021
2020
Bank loans and overdrafts
27,120
33,027
Trade creditors
117,946
106,832
Taxes and social security
150,005
154,609
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Creditors: amounts falling due after more than one year
2021
2020
Bank loans
286,815
314,487
Deferred income
100,384
114,724
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.
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Share capital
2021
2020
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 18 (2020: 18).