Peers Flooring Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10418549 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2019

FOR

PEERS FLOORING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

N Peers

REGISTERED OFFICE:

Unit 3, Shelley Farm

Shelley Lane

Ower

Romsey

Hampshire

SO51 6AS

REGISTERED NUMBER:

10418549 (England and Wales)

ACCOUNTANTS:

Buckleys

Chartered Accountants

Unit 3, Shelley Farm

Shelley Lane

Ower

Romsey

Hampshire

SO51 6AS

FIXED ASSETS

Tangible assets

4

2,447

3,262

CURRENT ASSETS

Debtors

5

4,566

7,053

Cash at bank and in hand

227

1,444

4,793

8,497

CREDITORS

Amounts falling due within one year

6

43,320

20,153

NET CURRENT LIABILITIES

(38,527

)

(11,656

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(36,080

)

(8,394

)

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

(36,280

)

(8,594

)

SHAREHOLDERS' FUNDS

(36,080

)

(8,394

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 director and authorised for issue on 30 July 2020 and were signed by:

N Peers - Director

1.	STATUTORY INFORMATION

Peers Flooring 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2018 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Motor

vehicles

£

COST

At 1 November 2018

and 31 October 2019

4,350

DEPRECIATION

At 1 November 2018

1,088

Charge for year

815

At 31 October 2019

1,903

NET BOOK VALUE

At 31 October 2019

2,447

At 31 October 2018

3,262

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.19

31.10.18

£

£

Trade debtors

4,327

7,053

VAT

239

-

4,566

7,053

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.19

31.10.18

£

£

Bank loans and overdrafts

-

230

Trade creditors

7,616

1,153

VAT

-

213

Other creditors

5,481

12,327

Directors' current accounts

29,338

5,570

Accrued expenses

885

660

43,320

20,153

7.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 October 2019

and 31 October 2018:

31.10.19

31.10.18

£

£

N Peers

Balance outstanding at start of year

(5,570

)

(3,458

)

Amounts advanced

9,431

29,701

Amounts repaid

(33,199

)

(31,813

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(29,338

)

(5,570

)