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FINANCIAL STATEMENTS |
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FOR THE PERIOD |
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1 JANUARY 2018 TO 30 DECEMBER 2018 |
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PRIANTO LIMITED |
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REGISTERED NUMBER:
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FINANCIAL STATEMENTS |
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FOR THE PERIOD |
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1 JANUARY 2018 TO 30 DECEMBER 2018 |
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FOR |
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PRIANTO LIMITED |
PRIANTO LIMITED (REGISTERED NUMBER: 07558983) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the period 1 January 2018 to 30 December 2018 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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PRIANTO LIMITED |
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COMPANY INFORMATION |
for the period 1 January 2018 to 30 December 2018 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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Griffins Court |
24-32 London Road |
Newbury |
Berkshire |
RG14 1JX |
PRIANTO LIMITED (REGISTERED NUMBER: 07558983) |
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BALANCE SHEET |
30 December 2018 |
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30/12/18 | 31/12/17 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
( |
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( |
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CAPITAL AND RESERVES |
Called up share capital | 7 |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS | ( |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
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PRIANTO LIMITED (REGISTERED NUMBER: 07558983) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the period 1 January 2018 to 30 December 2018 |
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1. | STATUTORY INFORMATION |
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Prianto Limited is a
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number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The financial statements are prepared in sterling which is the functional currency of the company and rounded to the |
nearest £. |
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The significant accounting policies applied in the preparation of these financial statements are set out below. These policies |
have been consistently applied to all years presented unless otherwise stated. |
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Significant judgements and estimates |
The preparation of the financial statements requires management to make judgements, estimates and assumptions that |
affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues |
and expenses during the period. However, the nature of estimation means that actual outcomes could differ from those |
estimates. The following judgements (apart from those involving estimates) have had the most significant effect on amounts |
recognised in the financial statements. |
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Revenue recognition |
The key judgements made by management in respect of revenue is the point at which that revenue should be recognised. |
Management consider the underlying contract terms and conclude upon the most appropriate point of the cycle at which |
to recognise revenue based upon the these terms and in particular where the risks and rewards of ownership transfer. |
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Tangible fixed assets |
Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The |
actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. Residual |
value assessment consider issues such as the remaining life of the asset and the projected disposal value. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. |
Turnover relates to the sales within the UK and European market. The policies adopted for the recognition of turnover |
are as follows: |
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Sales of goods |
Turnover is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the |
amount of turnover can be measured reliable, it is probable that the economic benefits associated with the transaction will |
flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliable. This |
is usually on dispatch of the goods. |
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Rendering of services |
When the outcome of a transaction can be estimated reliably, turnover from the rendering of services is recognised as the |
service is performed. |
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Tangible fixed assets |
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Computer equipment | - |
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PRIANTO LIMITED (REGISTERED NUMBER: 07558983) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the period 1 January 2018 to 30 December 2018 |
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2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the period 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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet |
date. |
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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 period end and that are expected to apply to the reversal of the timing difference. |
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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. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet |
date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of |
transaction. Exchange differences are taken into account in arriving at the operating result. |
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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. |
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Provisions |
Provisions are recognised when the company has a legal or constructive obligation at the report date as a result of a past |
event, it is probable that the company will be required to settle the obligation and the amount of the obligation can be |
reliably estimated. |
Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date. |
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Impairments |
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet |
date. If such indication exists, the recoverable amount of the asset, or asset's cash generating unit, is estimated and |
compared to its carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is |
recognised in the profit and loss, unless it's carried at a revalued amount, where the impairment loss is a revaluation |
decrease. |
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Short-term employees benefits |
Short-term employees' benefits are recognised as an expense in the period in which they are incurred. |
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Debtors and creditors receivable/payable within one year |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction |
price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
PRIANTO LIMITED (REGISTERED NUMBER: 07558983) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the period 1 January 2018 to 30 December 2018 |
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2. | ACCOUNTING POLICIES - continued |
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Going concern |
The company made a loss of £74,779 for the year under review. The balance sheet at the end of year shows a net liability |
of £112,630. |
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The company is therefore reliant on continued support from group companies and the ultimate controlling party, to whom |
there are liabilities outstanding at the balance sheet date totalling £88,709. |
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On the basis of the expected continued support, which cannot be guaranteed, and other relevant information the directors |
consider it appropriate to prepare the financial statements on a going concern basis. The financial statements do not |
include adjustments that would result if the company was unable to continue as a going concern. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the period was
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4. | TANGIBLE FIXED ASSETS |
Computer |
equipment |
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COST |
At 1 January 2018 |
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Additions |
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At 30 December 2018 |
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DEPRECIATION |
At 1 January 2018 |
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Charge for period |
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At 30 December 2018 |
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NET BOOK VALUE |
At 30 December 2018 |
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At 31 December 2017 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30/12/18 | 31/12/17 |
£ | £ |
Trade debtors |
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Other debtors |
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PRIANTO LIMITED (REGISTERED NUMBER: 07558983) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the period 1 January 2018 to 30 December 2018 |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30/12/18 | 31/12/17 |
£ | £ |
Trade creditors |
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Amounts owed to group undertakings |
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Taxation and social security |
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Other creditors |
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7. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30/12/18 | 31/12/17 |
value: | £ | £ |
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Ordinary | £1 | 100 | 100 |
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8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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We draw attention to note 2 in the financial statements, at the balance sheet date the company had a net liability of |
£37,851. These conditions identified cast significant doubt on the entity's ability to continue as a going concern. As stated in |
note 2, these conditions, along with the other matters as set forth in note 2, indicate that a material uncertainty exists that |
may cast significant doubt on the company's ability to continue as a going concern. Our opinion is not modified in respect |
of this matter. |
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9. | RELATED PARTY DISCLOSURES |
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The ultimate parent company is Prianto GmbH, a company registered in Germany. |
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Amounts owed to the parent company at the year end were £88,709 (2017: £100,099). |
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Sales to the parent company in the year were £11,390 (2017: £438). |
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10. | POST BALANCE SHEET EVENTS |
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Subsequent to the year end, Prianto Limited issued a further 90,000 shares at par. |