18
false
false
false
false
false
false
false
false
false
true
false
false
false
false
false
false
No description of principal activity
2020-01-01
Sage Accounts Production Advanced 2020 - FRS102_2019
776,501
776,501
776,501
xbrli:pure
xbrli:shares
iso4217:GBP
02636305
2020-01-01
2020-12-31
02636305
2020-12-31
02636305
2019-12-31
02636305
2019-01-01
2019-12-31
02636305
2019-12-31
02636305
core:PlantMachinery
2020-01-01
2020-12-31
02636305
core:FurnitureFittings
2020-01-01
2020-12-31
02636305
bus:RegisteredOffice
2020-01-01
2020-12-31
02636305
bus:LeadAgentIfApplicable
2020-01-01
2020-12-31
02636305
bus:Director1
2020-01-01
2020-12-31
02636305
bus:Director2
2020-01-01
2020-12-31
02636305
core:PlantMachinery
2019-12-31
02636305
core:FurnitureFittings
2019-12-31
02636305
core:PlantMachinery
2020-12-31
02636305
core:FurnitureFittings
2020-12-31
02636305
core:WithinOneYear
2020-12-31
02636305
core:WithinOneYear
2019-12-31
02636305
core:AfterOneYear
2020-12-31
02636305
core:AfterOneYear
2019-12-31
02636305
core:ShareCapital
2020-12-31
02636305
core:ShareCapital
2019-12-31
02636305
core:RevaluationReserve
2020-12-31
02636305
core:RevaluationReserve
2019-12-31
02636305
core:RetainedEarningsAccumulatedLosses
2020-12-31
02636305
core:RetainedEarningsAccumulatedLosses
2019-12-31
02636305
core:DevelopmentCostsCapitalisedDevelopmentExpenditure
2020-12-31
02636305
core:DevelopmentCostsCapitalisedDevelopmentExpenditure
2019-12-31
02636305
core:PlantMachinery
2019-12-31
02636305
core:FurnitureFittings
2019-12-31
02636305
bus:SmallEntities
2020-01-01
2020-12-31
02636305
bus:AuditExemptWithAccountantsReport
2020-01-01
2020-12-31
02636305
bus:FullAccounts
2020-01-01
2020-12-31
02636305
bus:SmallCompaniesRegimeForAccounts
2020-01-01
2020-12-31
02636305
bus:PrivateLimitedCompanyLtd
2020-01-01
2020-12-31
02636305
core:OfficeEquipment
2020-01-01
2020-12-31
02636305
core:OfficeEquipment
2020-12-31
02636305
core:OfficeEquipment
2019-12-31
COMPANY REGISTRATION NUMBER:
02636305
Pink Pig International Ltd
|
|
Filleted Unaudited Financial Statements
|
|
Pink Pig International Ltd
|
|
Year ended 31 December 2020
Officers and professional advisers
|
1
|
|
|
Report to the board of directors on the preparation of the unaudited statutory financial statements
|
2
|
|
|
Statement of financial position
|
3
|
|
|
Notes to the financial statements
|
5
|
|
|
Pink Pig International Ltd
|
|
Officers and Professional Advisers
|
|
The board of directors
|
Mr NMG Wilson
|
|
Mrs R Hardwick
|
|
|
Registered office
|
Unit 1B Denby Dale Business Park
|
|
Wakefield Road
|
|
Denby Dale
|
|
Huddersfield
|
|
West Yorkshire
|
|
HD8 8QH
|
|
|
Accountants
|
G&T Accountancy Services Ltd
|
|
Chartered accountants
|
|
Denby Dale Business Park
|
|
Wakefield Road
|
|
Denby Dale
|
|
Huddersfield
|
|
West Yorkshire
|
|
HD8 8QH
|
|
|
Pink Pig International Ltd
|
|
Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of
Pink Pig International Ltd
|
|
Year ended 31 December 2020
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Pink Pig International Ltd for the year ended 31 December 2020, which comprise the statement of financial position and the 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 www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html. This report is made solely to the Board of Directors of Pink Pig International Ltd, as a body, in accordance with the terms of our engagement letter dated 3 January 2020. Our work has been undertaken solely to prepare for your approval the financial statements of Pink Pig International Ltd and state those matters that we have agreed to state to you, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at 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 Pink Pig International Ltd and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that Pink Pig International Ltd 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 loss of Pink Pig International Ltd. You consider that Pink Pig International Ltd is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Pink Pig International Ltd. 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.
G&T Accountancy Services Ltd
Chartered accountants
Denby Dale Business Park
Wakefield Road
Denby Dale
Huddersfield
West Yorkshire
HD8 8QH
17 February 2021
Pink Pig International Ltd
|
|
Statement of Financial Position
|
|
31 December 2020
Fixed assets
Intangible assets
|
5
|
|
776,501
|
776,501
|
Tangible assets
|
6
|
|
261,928
|
299,316
|
|
|
------------
|
------------
|
|
|
1,038,429
|
1,075,817
|
|
|
|
|
|
Current assets
Stocks
|
471,020
|
|
379,695
|
Debtors
|
7
|
123,098
|
|
151,580
|
Cash at bank and in hand
|
20,959
|
|
–
|
|
---------
|
|
---------
|
|
615,077
|
|
531,275
|
|
|
|
|
|
Creditors: amounts falling due within one year
|
8
|
522,614
|
|
581,303
|
|
---------
|
|
---------
|
Net current assets/(liabilities)
|
|
92,463
|
(
50,028)
|
|
|
------------
|
------------
|
Total assets less current liabilities
|
|
1,130,892
|
1,025,789
|
|
|
|
|
|
Creditors: amounts falling due after more than one year
|
9
|
|
300,001
|
100,779
|
|
|
|
|
|
Provisions
Taxation including deferred tax
|
|
48,228
|
51,448
|
|
|
------------
|
------------
|
Net assets
|
|
782,663
|
873,562
|
|
|
------------
|
------------
|
|
|
|
|
Capital and reserves
Called up share capital
|
|
105,000
|
105,000
|
Revaluation reserve
|
|
776,501
|
776,501
|
Profit and loss account
|
|
(
98,838)
|
(
7,939)
|
|
|
---------
|
---------
|
Shareholders funds
|
|
782,663
|
873,562
|
|
|
---------
|
---------
|
|
|
|
|
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.
For the year ending 31 December 2020 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 year 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
.
Pink Pig International Ltd
|
|
Statement of Financial Position (continued)
|
|
31 December 2020
These financial statements were approved by the
board of directors
and authorised for issue on
17 February 2021
, and are signed on behalf of the board by:
Company registration number:
02636305
Pink Pig International Ltd
|
|
Notes to the Financial Statements
|
|
Year ended 31 December 2020
1.
General information
The company is a private company limited by shares, registered in England. The address of the registered office is Unit 1B Denby Dale Business Park, Wakefield Road, Denby Dale, Huddersfield, West Yorkshire, HD8 8QH.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover represents the value of goods sold and services provided net of value added tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.
Tangible assets
Tangible assets are initially recorded at cost, and 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 equity, 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 equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity 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
|
-
|
10% reducing balance
|
|
Fixtures, fittings and equipment
|
-
|
15% reducing balance
|
|
Computer equipment
|
-
|
20% straight line
|
|
|
|
|
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
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.
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. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
18
(2019:
21
).
5.
Intangible assets
|
Brand Valuation
|
|
£
|
Cost
|
|
At 1 January 2020 and 31 December 2020
|
776,501
|
|
---------
|
Amortisation
|
|
At 1 January 2020 and 31 December 2020
|
–
|
|
---------
|
Carrying amount
|
|
At 31 December 2020
|
776,501
|
|
---------
|
At 31 December 2019
|
776,501
|
|
---------
|
|
|
6.
Tangible assets
|
Plant and machinery
|
Fixtures and fittings
|
Equipment
|
Total
|
|
£
|
£
|
£
|
£
|
Cost
|
|
|
|
|
At 1 January 2020 and 31 December 2020
|
519,619
|
136,599
|
132,212
|
788,430
|
|
---------
|
---------
|
---------
|
---------
|
Depreciation
|
|
|
|
|
At 1 January 2020
|
277,854
|
98,709
|
112,551
|
489,114
|
Charge for the year
|
24,198
|
5,629
|
7,561
|
37,388
|
|
---------
|
---------
|
---------
|
---------
|
At 31 December 2020
|
302,052
|
104,338
|
120,112
|
526,502
|
|
---------
|
---------
|
---------
|
---------
|
Carrying amount
|
|
|
|
|
At 31 December 2020
|
217,567
|
32,261
|
12,100
|
261,928
|
|
---------
|
---------
|
---------
|
---------
|
At 31 December 2019
|
241,765
|
37,890
|
19,661
|
299,316
|
|
---------
|
---------
|
---------
|
---------
|
|
|
|
|
|
7.
Debtors
|
2020
|
2019
|
|
£
|
£
|
Trade debtors
|
77,383
|
105,003
|
Other debtors
|
45,715
|
46,577
|
|
---------
|
---------
|
|
123,098
|
151,580
|
|
---------
|
---------
|
|
|
|
8.
Creditors:
amounts falling due within one year
|
2020
|
2019
|
|
£
|
£
|
Bank loans and overdrafts
|
64,954
|
132,678
|
Trade creditors
|
190,088
|
164,067
|
Social security and other taxes
|
87,961
|
34,816
|
Other creditors
|
2,135
|
400
|
Other creditors
|
177,476
|
249,342
|
|
---------
|
---------
|
|
522,614
|
581,303
|
|
---------
|
---------
|
|
|
|
9.
Creditors:
amounts falling due after more than one year
|
2020
|
2019
|
|
£
|
£
|
Bank loans and overdrafts
|
300,001
|
33,883
|
Other creditors
|
–
|
66,896
|
|
---------
|
---------
|
|
300,001
|
100,779
|
|
---------
|
---------
|
|
|
|
10.
Related party transactions
The company was under the control of
Mr NMG Wilson
throughout the current year. Mr NMG Wilson
is the managing director and majority shareholder. No transactions with related parties were undertaken such as are required to be disclosed under FRS 102.