PEERLESS WINDOWS SALES LIMITED

PEERLESS WINDOWS SALES LIMITED

PEERLESS WINDOWS SALES LIMITED - Company Information

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PEERLESS WINDOWS SALES LIMITED

Company Registration Number:
02698641 (England and Wales)

Unaudited abridged accounts for the year ended 31 March 2020

Period of accounts

Start date: 01 April 2019

End date: 31 March 2020

PEERLESS WINDOWS SALES LIMITED

Contents of the Financial Statements

for the Period Ended 31 March 2020

Balance sheet
Notes

PEERLESS WINDOWS SALES LIMITED

Balance sheet

As at 31 March 2020


Notes
2020
2019


£
£
Fixed assets
Intangible assets: 3 1 1
Tangible assets: 4 28,417 30,866
Total fixed assets: 28,418 30,867
Current assets
Stocks: 20,000 20,000
Debtors:   5,866 17,697
Cash at bank and in hand: 167,476 92,243
Total current assets: 193,342 129,940
Creditors: amounts falling due within one year:   (167,009) (127,333)
Net current assets (liabilities): 26,333 2,607
Total assets less current liabilities: 54,751 33,474
Provision for liabilities: (5,400) (5,858)
Total net assets (liabilities): 49,351 27,616
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 49,251 27,516
Shareholders funds: 49,351 27,616

The notes form part of these financial statements

PEERLESS WINDOWS SALES LIMITED

Balance sheet statements

For the year ending 31 March 2020 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

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

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 06 July 2020
and signed on behalf of the board by:

Name: AP Holloway
Status: Director

The notes form part of these financial statements

PEERLESS WINDOWS SALES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2020

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Revenue is measured at the fair value of the consideration received or receivable. Revenue is reduced for estimated customer returns, rebates and other similar allowances.Revenue from the sales of goods is recognised when goods are delivered and legal title has passed.

Tangible fixed assets and depreciation policy

Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less estimated residual value, over their expected useful lives on the following bases:Motor vehicles 25% per annum reducing balance basisFurniture and equipment 15% per annum reducing balance basisFixtures and fittings 10% per annum reducing balance basisComputer equipment 25% per annum reducing balance basisAt each balance sheet date, the Company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of an asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Other accounting policies

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocksTaxationTaxation represents the sum of tax currently payable and deferred tax.The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liablity is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.Contribution to pension fundsThe company operates a defined contribution pension scheme and the pension charge represents the amount payable by the company to the fund in respect of the year.

PEERLESS WINDOWS SALES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2020

2. Employees

2020 2019
Average number of employees during the period 8 11

PEERLESS WINDOWS SALES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2020

3. Intangible Assets

Total
Cost £
At 01 April 2019 2,692
At 31 March 2020 2,692
Amortisation
At 01 April 2019 2,691
At 31 March 2020 2,691
Net book value
At 31 March 2020 1
At 31 March 2019 1

PEERLESS WINDOWS SALES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2020

4. Tangible Assets

Total
Cost £
At 01 April 2019 83,759
Additions 3,710
At 31 March 2020 87,469
Depreciation
At 01 April 2019 52,893
Charge for year 6,159
At 31 March 2020 59,052
Net book value
At 31 March 2020 28,417
At 31 March 2019 30,866