|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Painless Fittings Limited |
|
Unaudited Financial Statements |
|
for the Year Ended 31 August 2019 |
|
|
|
|
|
|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Painless Fittings Limited |
|
Unaudited Financial Statements |
|
for the Year Ended 31 August 2019 |
|
|
|
|
|
Painless Fittings Limited (Registered number: 05928524) |
|
|
|
|
|
|
Contents of the Financial Statements |
for the Year Ended 31 August 2019 |
|
|
|
|
Page |
|
Company Information | 1 |
|
Balance Sheet | 2 |
|
Notes to the Financial Statements | 4 |
|
Painless Fittings Limited |
|
Company Information |
for the Year Ended 31 August 2019 |
|
|
|
|
|
|
|
DIRECTORS: |
|
|
|
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
|
|
ACCOUNTANTS: |
|
Lakeside Offices |
The Old Cattle Market |
Coronation Park |
Helston |
Cornwall |
TR13 0SR |
Painless Fittings Limited (Registered number: 05928524) |
|
Balance Sheet |
31 August 2019 |
|
2019 | 2018 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
|
|
Tangible assets | 5 |
|
|
|
|
|
CURRENT ASSETS |
Stocks |
|
|
Debtors | 6 |
|
|
Cash at bank |
|
|
|
|
CREDITORS |
Amounts falling due within one year | 7 |
|
|
NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
|
TOTAL ASSETS LESS CURRENT LIABILITIES |
|
|
|
CREDITORS |
Amounts falling due after more than one
year |
8 |
( |
) |
( |
) |
|
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
|
|
|
CAPITAL AND RESERVES |
Called up share capital |
|
|
Retained earnings |
|
|
SHAREHOLDERS' FUNDS |
|
|
|
|
|
|
|
The directors acknowledge their responsibilities for: |
(a) |
ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and |
(b) |
preparing financial statements which give a true and fair view of the state of affairs of the company as at the
end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
Painless Fittings Limited (Registered number: 05928524) |
|
Balance Sheet - continued |
31 August 2019 |
|
|
|
|
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
|
The financial statements were approved by the Board of Directors on
by: |
|
|
|
|
|
|
|
Painless Fittings Limited (Registered number: 05928524) |
|
Notes to the Financial Statements |
for the Year Ended 31 August 2019 |
|
1. | STATUTORY INFORMATION |
|
Painless Fittings Limited is a
|
company's registered number and registered office address can be found on the Company Information page. |
|
The presentation currency of the financial statements is the Pound Sterling (£). |
|
|
2. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
|
Turnover |
Turnover represents the fair value of amounts received or receivable for the installation and tiling of domestic |
bathroom suites. |
|
Turnover is recognised when the amount can be measured reliably, it is probable the economic benefits will |
flow to the company and the costs incurred or to be incurred can be measured reliably. |
|
Goodwill |
Goodwill, being the amount paid in connection with the acquisition of a business in 2007, has been fully |
amortised. |
|
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost |
less any accumulated amortisation and any accumulated impairment losses. |
|
Tangible fixed assets |
|
Plant and machinery | - |
|
Fixtures and fittings | - |
|
Motor vehicles | - |
|
Computer equipment | - |
|
|
Stocks |
Work in progress is valued at the lower of cost and net realisable value. |
|
Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in |
bringing stocks to their present location and condition. |
|
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to |
the extent that it relates to items recognised in other comprehensive income or directly in equity. |
|
Current or deferred taxation assets and liabilities are not discounted. |
|
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or |
substantively enacted by the balance sheet date. |
|
Painless Fittings Limited (Registered number: 05928524) |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 August 2019 |
|
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
balance sheet date. |
|
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different |
from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and |
laws that have been enacted or substantively enacted by the year end and that are expected to apply to the |
reversal of the timing difference. |
|
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that |
they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
|
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those |
held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance |
leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
|
The interest element of these obligations is charged to profit or loss over the relevant period. The capital |
element of the future payments is treated as a liability. |
|
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
lease. |
|
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's |
pension scheme are charged to profit or loss in the period to which they relate. |
|
Going concern |
The company has net current liabilities of £3,940 as at 31 August 2019. The directors have confirmed they will |
continue to support the company in meeting its working capital requirements and consider the company to be |
a going concern. |
|
3. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was
|
|
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 September 2018 |
and 31 August 2019 |
|
AMORTISATION |
At 1 September 2018 |
and 31 August 2019 |
|
NET BOOK VALUE |
At 31 August 2019 |
|
At 31 August 2018 |
|
Painless Fittings Limited (Registered number: 05928524) |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 August 2019 |
|
5. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Motor | Computer |
machinery | fittings | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 September 2018 |
|
|
|
|
|
Additions |
|
|
|
|
|
At 31 August 2019 |
|
|
|
|
|
DEPRECIATION |
At 1 September 2018 |
|
|
|
|
|
Charge for year |
|
|
|
|
|
At 31 August 2019 |
|
|
|
|
|
NET BOOK VALUE |
At 31 August 2019 |
|
|
|
|
|
At 31 August 2018 |
|
|
|
|
|
|
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Motor |
vehicles |
£ |
COST |
At 1 September 2018 |
and 31 August 2019 |
|
DEPRECIATION |
At 1 September 2018 |
|
Charge for year |
|
At 31 August 2019 |
|
NET BOOK VALUE |
At 31 August 2019 |
|
At 31 August 2018 |
|
|
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade debtors |
|
|
Other debtors |
|
|
|
|
Painless Fittings Limited (Registered number: 05928524) |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 August 2019 |
|
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Hire purchase contracts |
|
|
Trade creditors |
|
|
Taxation and social security |
|
|
Other creditors |
|
|
|
|
|
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2019 | 2018 |
£ | £ |
Hire purchase contracts |
|
|
|
9. | PENSION COMMITMENTS |
|
During the year, an expense of £150 was incurred in relation to a defined contribution pension scheme. At 31 |
August 2019, a balance of £70 (2018: £Nil) was owing to the pension scheme. |