Pierside Solutions Ltd - Period Ending 2019-06-30

Registration number: 10813897

Pierside Solutions Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2019

Deans Accountants And Business Advisors Ltd
27 North Bridge Street
Hawick
Borders
TD9 9BD

Pierside Solutions Ltd

Contents

Company Information	1
Accountants' Report	2
Balance Sheet	3
Notes to the Financial Statements	4 to 5

Pierside Solutions Ltd

Company Information

Director

P Wilkinson

Registered office

73 Duke Street Darlington County Durham DL3 7SD

Accountants

Deans Accountants And Business Advisors Ltd 27 North Bridge Street Hawick Borders TD9 9BD

Page 1

DEANS

Chartered Accountants

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Pierside Solutions Ltd for the Year Ended 30 June 2019

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Pierside Solutions Ltd for the year ended 30 June 2019 as set out on pages 3 to 5 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants of Scotland (ICAS), we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/ethics/icas-code-of-ethics.

This report is made solely to the Board of Directors of Pierside Solutions Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Pierside Solutions Ltd and state those matters that we have agreed to state to the Board of Directors of Pierside Solutions Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Pierside Solutions Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Pierside Solutions Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Pierside Solutions Ltd. You consider that Pierside Solutions Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Pierside Solutions Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Deans Accountants And Business Advisors Ltd
27 North Bridge Street
Hawick
Borders
TD9 9BD

21 August 2019

Page 2

Pierside Solutions Ltd

(Registration number: 10813897)
Balance Sheet as at 30 June 2019

	Note	2019 £	2018 £
Current assets
Debtors		1	1
Cash at bank and in hand		3,928	-
		3,929	1
Creditors: Amounts falling due within one year	3	(5,000)	-
Net (liabilities)/assets		(1,071)	1
Capital and reserves
Called up share capital	4	1	1
Profit and loss account		(1,072)	-
Total equity		(1,071)	1

For the financial year ending 30 June 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved and authorised by the director on 21 August 2019
 

.........................................

P Wilkinson
Director

The notes on pages 4 to 5 form an integral part of these financial statements.

Page 3

Pierside Solutions Ltd

Notes to the Financial Statements for the Year Ended 30 June 2019

1	General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
73 Duke Street
Darlington
County Durham
DL3 7SD
England

These financial statements were authorised for issue by the director on 21 August 2019.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The financial statements are presented in Sterling (£) and rounded to the nearest £0.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Page 4

Pierside Solutions Ltd

Notes to the Financial Statements for the Year Ended 30 June 2019

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual arrangements as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
 Recognition and measurement
Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as an interest expense in the profit and loss account.
 Impairment
At the end of each reporting period financial instruments measured at fair value are assessed for objecvtive evidence of impairment. The impairment loss is recognised in the profit and loss account.
 

3

Creditors

	2019 £	2018 £
Due within one year
Other payables	5,000	-

4	Share capital

Allotted, called up and fully paid shares

	2019		2018
	No.	£	No.	£
Ordinary of £1 each	1	1	1	1

5	Related party transactions

Summary of transactions with other related parties

PW Marine Ltd
(A company registered in England in which P Wilkinson is a director and shareholder)
Loans were advanced from PW Marine Ltd, the loans made between the companies are at normal commercial rates. At the balance sheet date the amount due to PW Marine Ltd was £5,000 (2018 £5,000).
 

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