Company Registration No. 03995386 (England and Wales)
Pendle Nutech Limited
Unaudited accounts
for the year ended 31 March 2018
Pendle Nutech Limited
Unaudited accounts
Contents
Pendle Nutech Limited
Company Information
for the year ended 31 March 2018
Directors
Christina Ann Hadfield
Sebastian David Hadfield
Secretary
Christina Ann Hadfield
Company Number
03995386 (England and Wales)
Registered Office
The Old School House
Laneshaw Bridge
Colne
Lancashire
BB8 7EQ
United Kingdom
Accountants
Red Rose Accountancy Services Ltd
31 Barnfield Close
Colne
Lancashire
BB8 0QB
Pendle Nutech Limited
Statement of financial position
as at
31 March 2018
Intangible assets
2,400
3,600
Tangible assets
16,580
14,573
Cash at bank and in hand
25,420
55,048
Creditors: amounts falling due within one year
(32,553)
(27,311)
Net current assets
26,255
56,857
Total assets less current liabilities
45,235
75,030
Creditors: amounts falling due after more than one year
-
(240)
Provisions for liabilities
Deferred tax
(3,150)
(2,227)
Called up share capital
100
100
Profit and loss account
41,985
72,463
Shareholders' funds
42,085
72,563
For the year ending 31 March 2018 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 16 November 2018.
Sebastian David Hadfield
Director
Company Registration No. 03995386
Pendle Nutech Limited
Notes to the Accounts
for the year ended 31 March 2018
Pendle Nutech Limited is a private company, limited by shares, registered in England and Wales, registration number 03995386. The registered office is The Old School House, Laneshaw Bridge, Colne, Lancashire, BB8 7EQ, United Kingdom.
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.
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
20% on the straight line basis
Motor vehicles
25% on the reducing balance basis
Fixtures & fittings
25% on the reducing balance basis
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation. Intangible fixed assets are being amortised on a straight line basis over 5 years.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Pendle Nutech Limited
Notes to the Accounts
for the year ended 31 March 2018
4
Intangible fixed assets
Goodwill
Charge for the year
1,200
5
Tangible fixed assets
Land & buildings
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2017
12,650
28,629
16,075
57,354
Additions
-
11,730
-
11,730
Disposals
-
(12,080)
-
(12,080)
At 31 March 2018
12,650
28,279
16,075
57,004
At 1 April 2017
11,385
16,484
14,912
42,781
Charge for the year
1,265
5,251
340
6,856
On disposals
-
(9,213)
-
(9,213)
At 31 March 2018
12,650
12,522
15,252
40,424
At 31 March 2018
-
15,757
823
16,580
At 31 March 2017
1,265
12,145
1,163
14,573
Finished goods
2,750
1,500
Trade debtors
27,824
24,918
Accrued income and prepayments
2,814
2,702
Pendle Nutech Limited
Notes to the Accounts
for the year ended 31 March 2018
8
Creditors: amounts falling due within one year
2018
2017
Trade creditors
13,510
4,401
Taxes and social security
17,905
21,795
Loans from directors
73
73
The directors loan account is interest-free and repayable on demand.
9
Creditors: amounts falling due after more than one year
2018
2017
Obligations under finance leases and hire purchase contracts
-
240
10
Deferred taxation
2018
2017
Accelerated capital allowances
3,150
2,227
Provision at start of year
2,227
2,227
Charged to the profit and loss account
923
-
Provision at end of year
3,150
2,227
11
Average number of employees
During the year the average number of employees was 6 (2017: 5).