STATEMENT OF CONSENT TO PREPARE ABRIDGED FINANCIAL STATEMENTS
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All of the members of Pink Professor Enterprises Limited have consented to the preparation of the abridged income statement and the abridged statement of financial position for the year ending 30 September 2017 in accordance with Section 444(2A) of the Companies Act 2006.
COMPANY REGISTRATION NUMBER:
03848645
PINK PROFESSOR ENTERPRISES LIMITED
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FILLETED UNAUDITED ABRIDGED FINANCIAL STATEMENTS
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PINK PROFESSOR ENTERPRISES LIMITED
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ABRIDGED FINANCIAL STATEMENTS
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YEAR ENDED 30 SEPTEMBER 2017
Chartered accountant's report to the director on the preparation of the unaudited statutory abridged financial statements
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1
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Abridged statement of financial position
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2
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Notes to the abridged financial statements
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4
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PINK PROFESSOR ENTERPRISES LIMITED
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CHARTERED ACCOUNTANT'S REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY ABRIDGED FINANCIAL STATEMENTS OF
PINK PROFESSOR ENTERPRISES LIMITED
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YEAR ENDED 30 SEPTEMBER 2017
As described on the abridged statement of financial position, the director of the company is responsible for the preparation of the abridged financial statements for the year ended 30 September 2017, which comprise the abridged statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these abridged financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
DYER & CO
Chartered accountant
Onega House
112 Main Road
Sidcup
Kent
DA14 6NE
23 April 2018
PINK PROFESSOR ENTERPRISES LIMITED
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ABRIDGED STATEMENT OF FINANCIAL POSITION
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30 September 2017
FIXED ASSETS
Tangible assets
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4
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997
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997
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CURRENT ASSETS
CREDITORS: amounts falling due within one year
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22,865
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22,865
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NET CURRENT LIABILITIES
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22,442
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22,442
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TOTAL ASSETS LESS CURRENT LIABILITIES
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(
21,445)
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(
21,445)
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CAPITAL AND RESERVES
Called up share capital
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3
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3
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Profit and loss account
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(
21,448)
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(
21,448)
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SHAREHOLDERS DEFICIT
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(
21,445)
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(
21,445)
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These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged income statement has not been delivered.
The company did not trade during the current year or prior year and has not made either a profit or loss.
For the year ending 30 September 2017 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.
Director's responsibilities:
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The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476
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The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements
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PINK PROFESSOR ENTERPRISES LIMITED
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ABRIDGED STATEMENT OF FINANCIAL POSITION (continued)
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30 September 2017
These abridged financial statements were approved by the
board of directors
and authorised for issue on
23 April 2018
, and are signed on behalf of the board by:
Company registration number:
03848645
PINK PROFESSOR ENTERPRISES LIMITED
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NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
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YEAR ENDED 30 SEPTEMBER 2017
1.
GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Onega House, 112 Main Road, Sidcup, Kent, DA14 6NE, United Kingdom.
2.
STATEMENT OF COMPLIANCE
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
ACCOUNTING POLICIES
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Income statement
The company is dormant as defined by section 1169 of the Companies Act 2006. The company received no income and incurred no expenditure during the current year or prior year and therefore no income statement is presented within these abridged financial statements. There have been no movements in shareholders deficit during the current year or prior year.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4.
TANGIBLE ASSETS
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£
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Cost
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At 1 October 2016 and 30 September 2017
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1,946
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Depreciation
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At 1 October 2016 and 30 September 2017
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949
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Carrying amount
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At 30 September 2017
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997
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At 30 September 2016
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997
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5.
DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES
During the year the director did not enter into any advances, credits or guarantees with the company.
6.
RELATED PARTY TRANSACTIONS
The company was under the control of
H Speed
throughout the current and previous years. H Speed
is managing director and shareholder.