ACCOUNTS - Final Accounts preparation

PINK TOAD LIMITED - Company Information

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Registered number: 10263875

PINK TOAD LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2018

PINK TOAD LIMITED

REGISTERED NUMBER:10263875

STATEMENT OF FINANCIAL POSITION

AS AT 31 JULY 2018

		2018		2017
Note		£		£

FIXED ASSETS
Tangible assets	4		-		1,041
			-		1,041
CURRENT ASSETS
Debtors: amounts falling due within one year	5	1,794		13,811
Cash at bank and in hand		104,640		59,152
		106,434		72,963
Creditors: amounts falling due within one year	6	(20,638)		(21,070)
NET CURRENT ASSETS			85,796		51,893
TOTAL ASSETS LESS CURRENT LIABILITIES			85,796		52,934

NET ASSETS			85,796		52,934

CAPITAL AND RESERVES
Called up share capital	20	20
Profit and loss account	85,776	52,914
	85,796	52,934

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PINK TOAD LIMITED

REGISTERED NUMBER:10263875

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 JULY 2018

The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

J E Williams

Director

Date: 10 December 2018

The notes on pages 3 to 6 form part of these financial statements.

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PINK TOAD LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2018

1.	GENERAL INFORMATION

Pink Toad Limited is a private limited company, limited by shares, incorporated and registered in England within the United Kingdom. The registered office is 16 Queen Square, Bristol, BS1 4NT and the registered number is 10263875.

2.ACCOUNTING POLICIES

2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

REVENUE

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

PENSIONS

DEFINED CONTRIBUTION PENSION PLAN

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in the Statement of income and retained earnings when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the company in independently administered funds.

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PINK TOAD LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2018

2.ACCOUNTING POLICIES (continued)

2.4

TAXATION

Tax is recognised in the Statement of income and retained earnings, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates income.

2.5

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment

50%

Straight-line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of income and retained earnings.

2.6

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.

2.7

CREDITORS

Short term 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.

2.8

DIVIDENDS

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

EMPLOYEES

The average monthly number of employees, including directors, during the year was 1 (2017: 1).

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PINK TOAD LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2018

4.	TANGIBLE FIXED ASSETS

		Office equipment
		£
	COST
	At 1 August 2017	2,082
	At 31 July 2018	2,082
	DEPRECIATION
	At 1 August 2017	1,041
	Charge for the year on owned assets	1,041
	At 31 July 2018	2,082
	NET BOOK VALUE
	At 31 July 2018	-
	At 31 July 2017	1,041

DEBTORS

					2018	2017
					£	£


Trade debtors	1,590	13,611
Prepayments and accrued income	204	200
	1,794	13,811

6.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
		2018	2017
		£	£

Corporation tax	16,632	17,124
Other taxation and social security	3,465	3,259
Other creditors	541	687
	20,638	21,070

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PINK TOAD LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2018

7.	SHARE CAPITAL
		2018	2017
		£	£

ALLOTTED, CALLED UP AND FULLY PAID

10 (2017: 10) Ordinary A shares of £1.00 each	10	10
10 (2017: 10) Ordinary B shares of £1.00 each	10	10

	20	20

8.	RELATED PARTY TRANSACTIONS
	At the year end, the director was owed £541 (2017 - £687) by the company. The loan is interest-free and repayable on demand.

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