Prodigious Professional Services Limited
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Registered number: |
08999405
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Balance Sheet |
as at 31 May 2021
|
|
Notes |
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|
2021 |
|
|
2020 |
£ |
£ |
Current assets |
Stocks |
|
|
1,000 |
|
|
1,000 |
Debtors |
4 |
|
4,200 |
|
|
2,372 |
Cash at bank and in hand |
|
|
25,708 |
|
|
1,893 |
|
|
|
30,908 |
|
|
5,265 |
|
Creditors: amounts falling due within one year |
5 |
|
(26,026) |
|
|
(18,529) |
|
Net current assets/(liabilities) |
|
|
|
4,882 |
|
|
(13,264) |
|
Total assets less current liabilities |
|
|
|
4,882 |
|
|
(13,264) |
|
Creditors: amounts falling due after more than one year |
6 |
|
|
(15,000) |
|
|
- |
|
|
|
Net liabilities |
|
|
|
(10,118) |
|
|
(13,264) |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
2 |
|
|
2 |
Profit and loss account |
|
|
|
(10,120) |
|
|
(13,266) |
|
Shareholders' funds |
|
|
|
(10,118) |
|
|
(13,264) |
|
|
|
|
|
|
|
|
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
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The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
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The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
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|
|
|
|
J Scott Simons |
Director |
Approved by the board on 28 March 2022
|
|
Prodigious Professional Services Limited
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Notes to the Accounts |
for the year ended 31 May 2021
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|
|
1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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Turnover |
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Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale and fitting of flooring and is recognised when the job is complete.
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|
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
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|
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Plant and machinery |
over 4 years |
|
|
Stocks |
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Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
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|
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price).
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit for the current period, this is after relieving the losses carried forward from the previous periods. Deferred tax is not recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments as it is not material to the true and fair view of the financial statements
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Leased assets |
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A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability.
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|
2 |
Employees |
2021 |
|
2020 |
Number |
Number |
|
|
Average number of persons employed by the company |
1 |
|
1 |
|
|
|
|
|
|
|
|
|
|
3 |
Tangible fixed assets |
|
|
|
|
Plant and machinery etc |
|
Motor vehicles |
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Total |
£ |
£ |
£ |
|
Cost |
|
At 1 June 2020 |
860 |
|
18,868 |
|
19,728 |
|
At 31 May 2021 |
860 |
|
18,868 |
|
19,728 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 June 2020 |
860 |
|
18,868 |
|
19,728 |
|
At 31 May 2021 |
860 |
|
18,868 |
|
19,728 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 May 2021 |
- |
|
- |
|
- |
|
|
4 |
Debtors |
2021 |
|
2020 |
£ |
£ |
|
|
Trade debtors |
4,200 |
|
2,372 |
|
|
|
|
|
|
|
|
|
|
5 |
Creditors: amounts falling due within one year |
2021 |
|
2020 |
£ |
£ |
|
|
Obligations under finance lease and hire purchase contracts |
- |
|
149 |
|
Trade creditors |
2,003 |
|
- |
|
Taxation and social security costs |
2,258 |
|
1,520 |
|
Other creditors |
21,765 |
|
16,860 |
|
|
|
|
|
|
26,026 |
|
18,529 |
|
|
|
|
|
|
|
|
|
|
6 |
Creditors: amounts falling due after one year |
2021 |
|
2020 |
£ |
£ |
|
|
Bank loans |
15,000 |
|
- |
|
|
|
|
|
|
|
|
|
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7 |
Other information |
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Prodigious Professional Services Limited is a private company limited by shares and incorporated in England. Its registered office is: |
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Central House |
|
124 High Street |
|
Hampton Hill |
|
Middlesex |
|
TW12 1NS |
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8 |
Going Concern |
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The accounts have been prepared on a going concern basis assuming the continued support of the director. |