Company Registration No. 08985612 (England and Wales)
Presentornot Limited
Unaudited
Financial Statements
for the year ended 30 June 2019
PAGES FOR FILING WITH REGISTRAR
Presentornot Limited
Contents
Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 6
Presentornot Limited
Balance sheet
as at 30 June 2019
- 1 -
2019
2018
Notes
£
£
£
£
Fixed assets
Intangible assets
3
76,366
178,187
Tangible assets
4
11,424
11,472
87,790
189,659
Current assets
Stocks
64,894
46,302
Debtors
5
124,459
110,087
Cash at bank and in hand
613
19,415
189,966
175,804
Creditors: amounts falling due within one year
6
(204,411)
(211,965)
Net current liabilities
(14,445)
(36,161)
Total assets less current liabilities
73,345
153,498
Creditors: amounts falling due after more than one year
7
(358,654)
(389,304)
Net liabilities
(285,309)
(235,806)
Capital and reserves
Called up share capital
8
100
100
Profit and loss reserves
(285,409)
(235,906)
Total equity
(285,309)
(235,806)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 30 June 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Presentornot Limited
Balance sheet (continued)
as at 30 June 2019
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 9 March 2020 and are signed on its behalf by:
J E Lestner
Director
Company Registration No. 08985612
Presentornot Limited
Statement of Changes in Equity
for the year ended 30 June 2019
- 3 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 July 2017
100
(170,505)
(170,405)
Year ended 30 June 2018:
Loss and total comprehensive income for the year
-
(65,401)
(65,401)
Balance at 30 June 2018
100
(235,906)
(235,806)
Year ended 30 June 2019:
Loss and total comprehensive income for the year
-
(49,503)
(49,503)
Balance at 30 June 2019
100
(285,409)
(285,309)
Presentornot Limited
Notes to the financial statements
for the year ended 30 June 2019
- 4 -
1
Accounting policies
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. Turnover incorporates script income and over the counter sales and recognises them as part of the revenue at the point of supply.
Intangible fixed assets - goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated
amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is five years.
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
15% on reducing balance
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Presentornot Limited
Notes to the financial statements (continued)
for the year ended 30 June 2019
1
Accounting policies
(continued)
- 5 -
Leases
Rentals payable under operating leases,
including
any lease incentives received, are charged to
profit or loss
on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease
s
asset are consumed.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 2 (2018 - 8).
3
Intangible fixed assets
Goodwill
£
Cost
At 1 July 2018 and 30 June 2019
509,111
Amortisation and impairment
At 1 July 2018
330,924
Amortisation charged for the year
101,821
At 30 June 2019
432,745
Carrying amount
At 30 June 2019
76,366
At 30 June 2018
178,187
4
Tangible fixed assets
Fixtures and fittings
£
Cost
At 1 July 2018
15,432
Additions
1,968
At 30 June 2019
17,400
Depreciation and impairment
At 1 July 2018
3,960
Depreciation charged in the year
2,016
At 30 June 2019
5,976
Carrying amount
At 30 June 2019
11,424
At 30 June 2018
11,472
Presentornot Limited
Notes to the financial statements (continued)
for the year ended 30 June 2019
- 6 -
5
Debtors
2019
2018
Amounts falling due within one year:
£
£
Trade debtors
120,977
101,024
Other debtors
3,482
9,063
124,459
110,087
6
Creditors: amounts falling due within one year
2019
2018
£
£
Bank loans and overdrafts
56,521
29,711
Trade creditors
-
47,415
Taxation and social security
-
899
Other creditors
147,890
131,740
Accruals and deferred income
-
2,200
204,411
211,965
7
Creditors: amounts falling due after more than one year
2019
2018
Notes
£
£
Bank loans and overdrafts
358,654
389,304
The bank loan is secured against all assets of the company.
8
Called up share capital
2019
2018
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary shares of £1 each
-
100
50 (2018: 0) Ordinary "A" shares of 0p each
50
-
49 (2018: 0) Ordinary "B" shares of 0p each
49
-
1 (2018: 0) Ordinary "C" shares of 0p each
1
-
100
100
9
Company information
Presentornot Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
8 Manor Road, Leeds, West Yorkshire, LS11 9AH.