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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 31 March 2019 |
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for |
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PLYMOUTH HOUSE OFFICES LIMITED |
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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 31 March 2019 |
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for |
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PLYMOUTH HOUSE OFFICES LIMITED |
PLYMOUTH HOUSE OFFICES LIMITED (REGISTERED NUMBER: 09862522) |
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Contents of the Financial Statements |
FOR THE YEAR ENDED 31 MARCH 2019 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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PLYMOUTH HOUSE OFFICES LIMITED |
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Company Information |
FOR THE YEAR ENDED 31 MARCH 2019 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
6 - 8 Bath Street |
Bristol |
BS1 6HL |
PLYMOUTH HOUSE OFFICES LIMITED (REGISTERED NUMBER: 09862522) |
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Balance Sheet |
31 MARCH 2019 |
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2019 | 2018 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investments | 5 |
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Investment property | 6 |
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CURRENT ASSETS |
Stocks |
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Debtors | 7 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 8 |
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NET CURRENT (LIABILITIES)/ASSETS | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
9 |
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( |
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PROVISIONS FOR LIABILITIES | 10 | ( |
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NET ASSETS/(LIABILITIES) |
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( |
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CAPITAL AND RESERVES |
Called up share capital | 11 |
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Fair value reserve |
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Retained earnings |
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( |
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SHAREHOLDERS' FUNDS |
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( |
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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. |
PLYMOUTH HOUSE OFFICES LIMITED (REGISTERED NUMBER: 09862522) |
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Balance Sheet - continued |
31 MARCH 2019 |
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In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered. |
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The financial statements were approved and authorised for issue by the Board of Directors on
were signed on its behalf by: |
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PLYMOUTH HOUSE OFFICES LIMITED (REGISTERED NUMBER: 09862522) |
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Notes to the Financial Statements |
FOR THE YEAR ENDED 31 MARCH 2019 |
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1. | COMPANY INFORMATION |
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Plymouth House Offices Limited is a
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The company's registered 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 |
These financial statements have been prepared in accordance with the provisions of Section 1A "Small |
Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and |
Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006. |
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The financial statements are prepared in sterling, which is the functional currency of the company. Monetary |
amounts in these financial statements are rounded to the nearest £. |
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The financial statements have been prepared on the historical cost convention. The principal accounting |
policies adopted are set out below. |
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Going concern |
The directors have, at the time of approving the financial statements, a reasonable expectation that the |
company has adequate resources to continue in operational existence for the foreseeable future. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable and represents amounts |
receivable for goods and services provided in the normal course of business, net of discounts, VAT and other |
sales related taxes. |
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Tangible fixed assets |
Tangible fixed assets are initially measured at cost and subsequently measured at cost net of depreciation and |
any impairment losses. |
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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: |
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Fixtures and fittings 25% reducing balance basis |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes |
in fair value is recognised in profit or loss. |
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Stocks |
Work in progress is stated at the lower of cost and net realisable value. 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. |
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Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred |
in marketing and selling. |
PLYMOUTH HOUSE OFFICES LIMITED (REGISTERED NUMBER: 09862522) |
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Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 MARCH 2019 |
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2. | ACCOUNTING POLICIES - continued |
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Cash and cash equivalents |
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid |
investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown |
within borrowings in current liabilities. |
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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 when the company becomes party to the contractual provisions of the instrument. Financial assets |
and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally |
enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise |
the asset and settle the liability simultaneously. |
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Basic financial assets, which include trade and other debtors, amounts due from group undertakings and cash |
and bank balances, are initially measured at transaction price including transaction costs and are subsequently |
carried at amortised cost. Financial assets are derecognised only when the contractual rights to the cash flows |
from the asset expire or are settled, or when the company transfers the financial asset and substantially all the |
risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are |
retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an |
unrelated third party. |
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Basic financial liabilities, including trade and other creditors and amounts due to group undertakings are |
initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the |
debt instrument is measured at the present value of the future payments discounted at a market rate of interest. |
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Financial |
liabilities are derecognised when, and only when, the company's contractual obligations are discharged, |
cancelled, or they expire. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, |
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 year 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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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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PLYMOUTH HOUSE OFFICES LIMITED (REGISTERED NUMBER: 09862522) |
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Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 MARCH 2019 |
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
and |
fittings |
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COST |
Additions |
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At 31 March 2019 |
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DEPRECIATION |
Charge for year |
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At 31 March 2019 |
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NET BOOK VALUE |
At 31 March 2019 |
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5. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
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COST |
Additions |
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At 31 March 2019 |
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NET BOOK VALUE |
At 31 March 2019 |
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6. | INVESTMENT PROPERTY |
Total |
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FAIR VALUE |
At 1 April 2018 |
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Additions |
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Revaluations | 77,356 |
At 31 March 2019 |
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NET BOOK VALUE |
At 31 March 2019 |
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At 31 March 2018 |
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PLYMOUTH HOUSE OFFICES LIMITED (REGISTERED NUMBER: 09862522) |
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Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 MARCH 2019 |
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6. | INVESTMENT PROPERTY - continued |
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Fair value at 31 March 2019 is represented by: |
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£ |
Valuation in 2019 | 77,356 |
Cost | 422,644 |
500,000 |
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In the opinion of the directors the fair value of the investment property as at 31 March 2019 is £500,000 |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Amounts owed by group undertakings |
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Other debtors |
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VAT |
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Prepayments |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Tax |
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Other creditors |
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Directors' current accounts | 587,400 | 187,400 |
Accruals and deferred income |
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9. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2019 | 2018 |
£ | £ |
Other creditors |
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10. | PROVISIONS FOR LIABILITIES |
2019 | 2018 |
£ | £ |
Deferred tax | 13,150 | - |
PLYMOUTH HOUSE OFFICES LIMITED (REGISTERED NUMBER: 09862522) |
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Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 MARCH 2019 |
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10. | PROVISIONS FOR LIABILITIES - continued |
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Deferred |
tax |
£ |
Charge to Income Statement during year |
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Balance at 31 March 2019 |
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11. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2019 | 2018 |
value: | £ | £ |
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Ordinary | £1.00 | 200 | 200 |
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12. | RELATED PARTY DISCLOSURES |
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P J Medlock is the company's director. During the year P J Medlock advanced a further £200,000 loan to the |
company. At the year end the company owed P J Medlock £387,400 (2018: £187,400). The loan is interest |
free and has no set date of repayment. |
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S J Medlock is the company's director and the director of Blue Scorpio Limited. During the year S J Medlock |
advanced a £200,000 loan to the company. At the year end the company owed Blue Scorpio Limited £187,400 |
(2018: £187,400) and owed S J Medlock £200,000 (2018: Nil). The loans are interest free and have no set date |
of repayment. |