Company Registration No. 11096162 (England and Wales)
Pirnmill Ltd
Filleted accounts
for the year ended 31 December 2019
Pirnmill Ltd
Filleted accounts
Contents
Pirnmill Ltd
Company Information
for the year ended 31 December 2019
Company Number
11096162 (England and Wales)
Registered Office
Unit 6 Bowburn South Industrial Estate
Bowburn
Durham
DH6 5AD
Accountants
Tony Turner Accountants
Spencer House
Market Lane
Swalwell
Tyne and Wear
NE16 3DS
Pirnmill Ltd
Statement of financial position
as at 31 December 2019
Tangible assets
37,266
19,890
Cash at bank and in hand
31,367
29,265
Creditors: amounts falling due within one year
(17,838)
(24,163)
Net current assets
30,202
27,302
Total assets less current liabilities
67,468
47,192
Creditors: amounts falling due after more than one year
(20,556)
-
Provisions for liabilities
Deferred tax
(7,081)
(3,779)
Called up share capital
100
100
Profit and loss account
39,731
43,313
Shareholders' funds
39,831
43,413
For the year ending 31 December 2019 the company was entitled to exemption from audit 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 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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 13 August 2020 and were signed on its behalf by
C S Roberts
Director
Company Registration No. 11096162
Pirnmill Ltd
Notes to the Accounts
for the year ended 31 December 2019
Pirnmill Ltd is a private company, limited by shares, registered in England and Wales, registration number 11096162. The registered office is Unit 6 Bowburn South Industrial Estate, Bowburn, Durham, DH6 5AD.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Reducing balance
Motor vehicles
25% Reducing balance
Computer equipment
33% Straight line
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Pirnmill Ltd
Notes to the Accounts
for the year ended 31 December 2019
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 January 2019
2,838
10,903
8,462
22,203
Additions
460
27,448
-
27,908
At 31 December 2019
3,298
38,351
8,462
50,111
At 1 January 2019
331
1,135
847
2,313
Charge for the year
723
7,017
2,792
10,532
At 31 December 2019
1,054
8,152
3,639
12,845
At 31 December 2019
2,244
30,199
4,823
37,266
At 31 December 2018
2,507
9,768
7,615
19,890
Carrying values included above held under finance leases and hire purchase contracts:
£
£
Accrued income and prepayments
16,554
-
6
Creditors: amounts falling due within one year
2019
2018
Obligations under finance leases and hire purchase contracts
4,552
-
Taxes and social security
12,232
22,529
Loans from directors
292
330
Obligations under finance leases and hire purchase contracts are secured upon the assets to which they relate.
7
Creditors: amounts falling due after more than one year
2019
2018
Obligations under finance leases and hire purchase contracts
20,556
-
Pirnmill Ltd
Notes to the Accounts
for the year ended 31 December 2019
8
Deferred taxation
2019
2018
Accelerated capital allowances
7,081
3,779
Provision at start of year
3,779
-
Charged to the profit and loss account
3,302
3,779
Provision at end of year
7,081
3,779
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
10
Average number of employees
During the year the average number of employees was 1 (2018: 1).
