Pompey Foundation Trading Company Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06930934 (England and Wales)

POMPEY FOUNDATION TRADING COMPANY

LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2019

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Alison Patricia Lee

Stephen Dale Frampton

REGISTERED OFFICE:

Pompey Study Centre

Anson Road

Portsmouth

Hampshire

PO4 8TB

REGISTERED NUMBER:

06930934 (England and Wales)

AUDITORS:

Morris Crocker Limited

Chartered Accountants

Statutory Auditors

Station House

North Street

Havant

Hampshire

PO9 1QU

BANKERS:

Lloyds

38 London Road

North End

Portsmouth

Hampshire

PO2 0LR

FIXED ASSETS

Tangible assets

4

6,779

4,327

CURRENT ASSETS

Debtors

5

878

775

Cash at bank

33,065

18,137

33,943

18,912

CREDITORS

Amounts falling due within one year

6

40,366

22,883

NET CURRENT LIABILITIES

(6,423

)

(3,971

)

TOTAL ASSETS LESS CURRENT LIABILITIES

356

356

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

355

355

SHAREHOLDERS' FUNDS

356

356

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 10 February 2020 and were signed on its behalf by:

Alison Patricia Lee - Director

1.	STATUTORY INFORMATION

Pompey Foundation Trading Company Limited is a private company, limited by shares , registered in

England and Wales. The company's registered number and registered office address can be found on

the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Motor vehicles

-

20% on reducing balance

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of

financial assets and liabilities like trade and other accounts receivable and payable, loans from banks

and other third parties and loans to related parties and investments in non-puttable ordinary shares.

Trade and other debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are

measured initially at fair value, net of transaction costs, and are measured subsequently at amortised

cost using the effective interest method, less any impairment

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, deposits with banks and other

short-term highly liquid investments and bank overdrafts. In the balance sheet, bank overdrafts are

shown within borrowings or current liabilities.

Trade and other creditors

Short term trade creditors are measured at the transaction price. Other financial liabilities, including

bank loans, are measured initially at fair value, net of transaction costs, and are measured

subsequently at amortised cost using the effective interest method

Taxation

Taxation for the year 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.

Current or deferred taxation assets and liabilities are not discounted.

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

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.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the

period of the lease.

Related party transactions

The company is exempt from disclosing transactions with other members of Pompey in the

Community group.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2018 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 June 2018

13,050

Additions

3,820

At 31 May 2019

16,870

DEPRECIATION

At 1 June 2018

8,723

Charge for year

1,368

At 31 May 2019

10,091

NET BOOK VALUE

At 31 May 2019

6,779

At 31 May 2018

4,327

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

645

640

Other debtors

233

135

878

775

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

133

253

Other creditors

40,233

22,630

40,366

22,883

7.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Paul Underwood (Senior Statutory Auditor)

for and on behalf of Morris Crocker Limited