25
28/02/2021
2021-02-28
false
false
false
false
false
false
false
false
false
false
true
false
false
true
false
false
false
false
false
true
false
No description of principal activities is disclosed
2019-11-01
Sage Accounts Production 2020 Update 1 - FRS102_2019
xbrli:pure
xbrli:shares
iso4217:GBP
02612889
2019-11-01
2021-02-28
02612889
2021-02-28
02612889
2019-10-31
02612889
2018-11-01
2019-10-31
02612889
2019-10-31
02612889
2018-10-31
02612889
core:PlantMachinery
2019-11-01
2021-02-28
02612889
core:FurnitureFittingsToolsEquipment
2019-11-01
2021-02-28
02612889
core:MotorVehicles
2019-11-01
2021-02-28
02612889
core:OnerousContractsExcludingVacantProperties
2019-11-01
2021-02-28
02612889
bus:RegisteredOffice
2019-11-01
2021-02-28
02612889
bus:LeadAgentIfApplicable
2019-11-01
2021-02-28
02612889
bus:Director1
2019-11-01
2021-02-28
02612889
bus:Director2
2019-11-01
2021-02-28
02612889
bus:CompanySecretary1
2019-11-01
2021-02-28
02612889
core:LandBuildings
2019-10-31
02612889
core:PlantMachinery
2019-10-31
02612889
core:FurnitureFittingsToolsEquipment
2019-10-31
02612889
core:MotorVehicles
2019-10-31
02612889
core:LandBuildings
2021-02-28
02612889
core:PlantMachinery
2021-02-28
02612889
core:FurnitureFittingsToolsEquipment
2021-02-28
02612889
core:MotorVehicles
2021-02-28
02612889
core:WithinOneYear
2021-02-28
02612889
core:WithinOneYear
2019-10-31
02612889
core:LandBuildings
2019-11-01
2021-02-28
02612889
core:ShareCapital
2021-02-28
02612889
core:ShareCapital
2019-10-31
02612889
core:RetainedEarningsAccumulatedLosses
2021-02-28
02612889
core:RetainedEarningsAccumulatedLosses
2019-10-31
02612889
core:LandBuildings
2019-10-31
02612889
core:PlantMachinery
2019-10-31
02612889
core:FurnitureFittingsToolsEquipment
2019-10-31
02612889
core:MotorVehicles
2019-10-31
02612889
bus:Director1
2019-10-31
02612889
bus:Director1
2021-02-28
02612889
bus:Director2
2019-10-31
02612889
bus:Director2
2021-02-28
02612889
bus:Director1
2018-10-31
02612889
bus:Director1
2019-10-31
02612889
bus:Director2
2018-10-31
02612889
bus:Director2
2019-10-31
02612889
bus:Director1
2018-11-01
2019-10-31
02612889
bus:Director2
2018-11-01
2019-10-31
02612889
bus:SmallEntities
2019-11-01
2021-02-28
02612889
bus:AuditExemptWithAccountantsReport
2019-11-01
2021-02-28
02612889
bus:FullAccounts
2019-11-01
2021-02-28
02612889
bus:SmallCompaniesRegimeForAccounts
2019-11-01
2021-02-28
02612889
bus:PrivateLimitedCompanyLtd
2019-11-01
2021-02-28
02612889
core:ComputerEquipment
2019-11-01
2021-02-28
02612889
core:ComputerEquipment
2019-10-31
02612889
core:ComputerEquipment
2021-02-28
Company registration number:
02612889
Pre-Retail Services (UK) Limited
Unaudited filleted financial statements
28 February 2021
Pre-Retail Services (UK) Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Pre-Retail Services (UK) Limited
Directors and other information
|
|
|
|
Directors
|
Mrs S Philp
|
|
|
Mr D Philp
|
|
|
|
|
|
|
|
Secretary
|
S Philp
|
|
|
|
|
|
|
|
Company number
|
02612889
|
|
|
|
|
|
|
|
Registered office
|
Wellington Mill
|
|
|
Whitelands Road
|
|
|
Ashton Under Lyne
|
|
|
Lancashire
|
|
|
OL6 6UH
|
|
|
|
|
|
|
|
Business address
|
Wellington Mill
|
|
|
Whitelands Road
|
|
|
Ashton Under Lyne
|
|
|
Lancashire
|
|
|
OL6 6UH
|
|
|
|
|
|
|
|
Accountants
|
Downham Morris & Co
|
|
|
45/49 Greek Street
|
|
|
Stockport
|
|
|
Cheshire
|
|
|
SK3 8AX
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bankers
|
The Royal Bank of Scotland plc
|
|
|
St Ann Street
|
|
|
Manchester
|
|
|
M60 2SS
|
|
|
|
Pre-Retail Services (UK) Limited
Chartered certified accountants' report to the board of directors on the preparation of the
unaudited statutory financial statements of Pre-Retail Services (UK) Limited
Period ended 28th February 2021
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Pre-Retail Services (UK) Limited for the period ended 28th February 2021 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/ professional-standards/ rules-standards/acca-rulebook.html.
This report is made solely to the board of directors of Pre-Retail Services (UK) Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Pre-Retail Services (UK) Limited and state those matters that we have agreed to state to the board of directors of Pre-Retail Services (UK) Limited as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Pre-Retail Services (UK) Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Pre-Retail Services (UK) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Pre-Retail Services (UK) Limited. You consider that Pre-Retail Services (UK) Limited is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the financial statements of Pre-Retail Services (UK) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Downham Morris & Co
Certified Chartered Accountant
45/49 Greek Street
Stockport
Cheshire
SK3 8AX
23rd August 2021
Pre-Retail Services (UK) Limited
Statement of financial position
28th February 2021
|
|
|
28/02/21
|
|
|
|
30/10/19
|
|
|
|
|
Note
|
£
|
|
£
|
|
£
|
|
£
|
|
|
|
|
|
|
|
|
|
|
Fixed assets
|
|
|
|
|
|
|
|
|
|
Tangible assets
|
|
5
|
30,569
|
|
|
|
24,433
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
|
|
30,569
|
|
|
|
24,433
|
|
|
|
|
|
|
|
|
|
|
Current assets
|
|
|
|
|
|
|
|
|
|
Debtors
|
|
6
|
889,260
|
|
|
|
779,827
|
|
|
Cash at bank and in hand
|
|
|
309,251
|
|
|
|
363,852
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
1,198,511
|
|
|
|
1,143,679
|
|
|
Creditors: amounts falling due
|
|
|
|
|
|
|
|
|
|
within one year
|
|
7
|
(
457,257)
|
|
|
|
(
340,511)
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
Net current assets
|
|
|
|
|
741,254
|
|
|
|
803,168
|
|
|
|
|
|
_______
|
|
|
|
_______
|
Total assets less current liabilities
|
|
|
|
|
771,823
|
|
|
|
827,601
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Provisions for liabilities
|
|
|
|
|
(
5,404)
|
|
|
|
(
3,987)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______
|
|
|
|
_______
|
Net assets
|
|
|
|
|
766,419
|
|
|
|
823,614
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
|
|
|
|
|
Capital and reserves
|
|
|
|
|
|
|
|
|
|
Called up share capital
|
|
|
|
|
6,000
|
|
|
|
6,000
|
Profit and loss account
|
|
|
|
|
760,419
|
|
|
|
817,614
|
|
|
|
|
|
_______
|
|
|
|
_______
|
Shareholders funds
|
|
|
|
|
766,419
|
|
|
|
823,614
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
|
|
|
|
|
For the period ending 28 February 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
23 August 2021
, and are signed on behalf of the board by:
.........................
Mrs S Philp
Director
Company registration number:
02612889
Pre-Retail Services (UK) Limited
Notes to the financial statements
Period ended 28th February 2021
1.
General information
The company is a private company limited by shares, registered in England. The address of the registered office is Wellington Mill, Whitelands Road, Ashton Under Lyne, Lancashire, OL6 6UH.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
|
|
|
|
|
Plant and machinery
|
-
|
15 %
|
reducing balance
|
|
Fittings fixtures and equipment
|
-
|
15 %
|
reducing balance
|
|
Motor vehicles
|
-
|
25 %
|
reducing balance
|
|
Computer equipment
|
-
|
33.33 %
|
straight line
|
|
|
|
|
|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4.
Employee numbers
The average number of persons employed by the company during the period amounted to
25
(2019:
31
).
5.
Tangible assets
|
|
Freehold and leasehold properties
|
Plant and machinery
|
Fixtures, fittings and equipment
|
Motor vehicles
|
Computer equipment
|
Total
|
|
|
|
£
|
£
|
£
|
£
|
£
|
£
|
|
|
Cost
|
|
|
|
|
|
|
|
|
At 1st November 2019
|
35,309
|
67,095
|
21,769
|
689
|
15,099
|
139,961
|
|
|
Additions
|
-
|
-
|
-
|
-
|
21,383
|
21,383
|
|
|
Disposals
|
-
|
-
|
-
|
-
|
(
4,492)
|
(
4,492)
|
|
|
|
_______
|
_______
|
_______
|
_______
|
_______
|
_______
|
|
|
At 28th February 2021
|
35,309
|
67,095
|
21,769
|
689
|
31,990
|
156,852
|
|
|
|
_______
|
_______
|
_______
|
_______
|
_______
|
_______
|
|
|
Depreciation
|
|
|
|
|
|
|
|
|
At 1st November 2019
|
32,345
|
58,361
|
13,567
|
301
|
10,954
|
115,528
|
|
|
Charge for the year
|
567
|
1,672
|
1,569
|
120
|
11,319
|
15,247
|
|
|
Disposals
|
-
|
-
|
-
|
-
|
(
4,492)
|
(
4,492)
|
|
|
|
_______
|
_______
|
_______
|
_______
|
_______
|
_______
|
|
|
At 28th February 2021
|
32,912
|
60,033
|
15,136
|
421
|
17,781
|
126,283
|
|
|
|
_______
|
_______
|
_______
|
_______
|
_______
|
_______
|
|
|
Carrying amount
|
|
|
|
|
|
|
|
|
At 28th February 2021
|
2,397
|
7,062
|
6,633
|
268
|
14,209
|
30,569
|
|
|
|
_______
|
_______
|
_______
|
_______
|
_______
|
_______
|
|
|
At 30th October 2019
|
2,964
|
8,734
|
8,202
|
388
|
4,145
|
24,433
|
|
|
|
_______
|
_______
|
_______
|
_______
|
_______
|
_______
|
|
|
|
|
|
|
|
|
|
|
6.
Debtors
|
|
|
28/02/21
|
30/10/19
|
|
|
|
£
|
£
|
|
Trade debtors
|
|
831,234
|
740,483
|
|
Other debtors
|
|
58,026
|
39,344
|
|
|
|
_______
|
_______
|
|
|
|
889,260
|
779,827
|
|
|
|
_______
|
_______
|
|
|
|
|
|
7.
Creditors: amounts falling due within one year
|
|
|
28/02/21
|
30/10/19
|
|
|
|
£
|
£
|
|
Trade creditors
|
|
85,839
|
151,739
|
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest
|
|
234,386
|
23,743
|
|
Corporation tax
|
|
73,651
|
66,143
|
|
Social security and other taxes
|
|
52,724
|
75,767
|
|
Other creditors
|
|
10,657
|
23,119
|
|
|
|
_______
|
_______
|
|
|
|
457,257
|
340,511
|
|
|
|
_______
|
_______
|
|
|
|
|
|
8.
Directors advances, credits and guarantees
|
During the period the directors entered into the following advances and credits with the company:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Period ended 28/02/21
|
|
|
|
|
|
|
|
|
|
Balance brought forward
|
Advances /(credits) to the directors
|
Balance o/standing
|
|
|
|
|
|
£
|
£
|
£
|
|
|
|
|
Mrs S Philp
|
(
2,381)
|
-
|
(
2,381)
|
|
|
|
|
Mr D Philp
|
(
13,926)
|
13,220
|
(
706)
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
|
(
16,307)
|
13,220
|
(
3,087)
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
|
|
|
|
|
|
|
Year ended 30/10/19
|
|
|
|
|
|
|
|
|
|
Balance brought forward
|
Advances /(credits) to the directors
|
Balance o/standing
|
|
|
|
|
|
£
|
£
|
£
|
|
|
|
|
Mrs S Philp
|
(
2,841)
|
460
|
(
2,381)
|
|
|
|
|
Mr D Philp
|
(
9,063)
|
(
4,863)
|
(
13,926)
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
|
(
11,904)
|
(
4,403)
|
(
16,307)
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
|
|
|
|
|
|
|
9.
Related party transactions
During the year, the company voted dividends to the directors totalling £373,000 (30 October 2019: £133,000).
10.
Controlling party
Pre-Retail Services (UK) limited is a wholly owned subsidiary of Philp Holdings Limited, a company registered in England and Wales.