PRESTIGE DESIGN AND WORKWEAR LTD | |
UNAUDITED FINANCIAL STATEMENTS | |
FOR THE YEAR ENDED 31 DECEMBER 2016 | |
PRESTIGE DESIGN AND WORKWEAR LTD | |||
FINANCIAL STATEMENTS | |||
FOR THE YEAR ENDED 31 DECEMBER 2016 | |||
DIRECTORS | |||
J Keenan | |||
M J McCaffrey | |||
SECRETARY | |||
M J McCaffrey | |||
REGISTERED OFFICE | |||
Unit 12 Barton Industrial Estate Faldo Road, Barton Le Clay Bedfordshire MK45 4RP |
|||
COMPANY REGISTERED NUMBER | |||
05535375 | |||
BANKERS | |||
Lloyds Bank Plc | |||
ACCOUNTANTS | |||
Needham Hall & Co | |||
Chartered Accountants | |||
6 Bedford Road Barton Le Clay Bedfordshire MK45 4JU |
|||
CONTENTS | |||
Pages | |||
2-3 | Statement of Financial Position | ||
4-8 | Notes to the Financial Statements | ||
page 1 | |
|
|||||
Company registered number: |
|||||
STATEMENT OF FINANCIAL POSITION AT |
|||||
Note | 2016 | 2015 | |||
£ | £ | £ | |||
FIXED ASSETS | |||||
Property, plant and equipment | 2 |
|
|
||
CURRENT ASSETS | |||||
Inventories |
|
|
|||
Debtors | 3 |
|
|
||
Cash at bank and in hand |
|
|
|||
|
|
||||
CREDITORS: Amounts falling due within one year | 4 |
|
|
||
NET CURRENT ASSETS |
|
|
|||
TOTAL ASSETS LESS CURRENT LIABILITIES |
|
|
|||
CREDITORS: Amounts falling due after more than one year | 5 |
|
( |
||
NET ASSETS | £ |
£ |
|||
CAPITAL AND RESERVES | |||||
Called up share capital |
|
|
|||
Retained earnings |
|
|
|||
SHAREHOLDERS' FUNDS | £ |
£ |
|||
The notes on pages 4-8 form part of these financial statements | |
page 2 | |
|
|||||
Company registered number: |
|||||
STATEMENT OF FINANCIAL POSITION AT |
|||||
Note | 2016 | 2015 | |||
£ | £ | £ |
In approving these financial statements as directors of the company we hereby confirm the following: | |||
|
|||
|
|||
|
|||
|
|||
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. | |||
The financial statements were approved and authorised for issue by the board of directors on |
|||
Signed on behalf of the board of directors | |||
|
|||
The notes on pages 4-8 form part of these financial statements | |
page 3 | |
PRESTIGE DESIGN AND WORKWEAR LTD | |||
NOTES TO THE ACCOUNTS | |||
FOR THE YEAR ENDED 31 DECEMBER 2016 |
1. | SIGNIFICANT ACCOUNTING POLICIES | ||
1a. | Statement of compliance | |||
|
||||
Registered office: | ||||
Barton Industrial Estate Faldo Road, Barton Le Clay Bedfordshire MK45 4RP |
||||
These financial statements are the first financial statements that comply with FRS 102. The date of transition is 1 January 2016. | ||||
|
||||
Basis of accounting | ||||
|
1c. | Revenue recognition | |||
|
1d. | Borrowing costs | |||
|
||||
1e. | Taxation | |||
|
The notes on pages 4-8 form part of these financial statements | |
page 4 | |
PRESTIGE DESIGN AND WORKWEAR LTD | |||
NOTES TO THE ACCOUNTS (CONT.) | |||
FOR THE YEAR ENDED 31 DECEMBER 2016 |
1. | SIGNIFICANT ACCOUNTING POLICIES (CONT.) |
1f. | Property, plant and equipment | ||
|
|||
Plant and machinery |
|
||
Vehicles |
|
1g. | Inventories | |||
|
||||
1h. | Short term debtors and creditors | |||
|
||||
1i. | Cash and cash equivalents | |||
|
||||
1j. | Interest bearing borrowings | |||
|
||||
1k. | Leased assets | |||
|
||||
The notes on pages 4-8 form part of these financial statements | |
page 5 | |
PRESTIGE DESIGN AND WORKWEAR LTD | |||
NOTES TO THE ACCOUNTS (CONT.) | |||
FOR THE YEAR ENDED 31 DECEMBER 2016 |
1. | SIGNIFICANT ACCOUNTING POLICIES (CONT.) |
1l. | Discontinued operations | |||
|
||||
1m. | Provisions | |||
|
||||
1n. | Judgements and key sources of estimation uncertainty | |||
|
||||
The notes on pages 4-8 form part of these financial statements | |
page 6 | |
PRESTIGE DESIGN AND WORKWEAR LTD | |||
NOTES TO THE ACCOUNTS (CONT.) | |||
FOR THE YEAR ENDED 31 DECEMBER 2016 |
2. | PROPERTY, PLANT AND EQUIPMENT | |||
Plant & | Fixtures & | |||
Machinery | Equipment | Total | ||
£ | £ | £ | ||
Cost | ||||
At 1 January 2016 |
|
|
|
|
At 31 December 2016 |
|
|
|
|
Depreciation | ||||
At 1 January 2016 |
|
|
|
|
For the year |
|
|
|
|
At 31 December 2016 |
|
|
|
|
Net Book Amounts | ||||
At 31 December 2016 |
|
|
|
|
At 31 December 2015 |
|
|
|
|
3. | DEBTORS | 2016 | 2015 |
£ | £ | ||
Trade debtors |
|
|
|
Other debtors |
|
|
|
£ |
£ |
||
4. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
2016 | 2015 | ||
£ | £ | ||
Bank loans and overdrafts | 31,129 | 6,359 | |
Finance leases and hire purchase contracts |
|
|
|
Trade creditors |
|
|
|
Corporation tax |
|
|
|
Other taxes and social security |
|
|
|
Accruals and deferred income |
|
|
|
£ |
£ |
||
The notes on pages 4-8 form part of these financial statements | |
page 7 | |
PRESTIGE DESIGN AND WORKWEAR LTD | |||
NOTES TO THE ACCOUNTS (CONT.) | |||
FOR THE YEAR ENDED 31 DECEMBER 2016 |
5. | CREDITORS: AMOUNTS FALLING DUE AFTER ONE YEAR | ||
2016 | 2015 | ||
£ | £ | ||
Finance leases and hire purchase contracts |
|
|
|
£ |
£ |
||
Analysis of borrowings: | |||
Due within five years: | |||
within 1 year | |||
bank |
|
|
|
leases |
|
|
|
within 2-5 years | |||
leases |
|
|
|
£3,706 | £28,676 | ||
6. | DIRECTORS ADVANCES, CREDITS AND GUARANTEES | ||
Included in other debtors are loans to directors. They are unsecured, interest free and repayable on demand. | |||
2015 | 2016 | ||
£ | £ | ||
|
|
|
|
The overdrawn directors loan account was repaid soon after the company's financial year end. |
7. | RELATED PARTY TRANSACTIONS | ||
The company was controlled throughout the current and previous year by its directors, Mrs J Keenan and Mrs M McCaffrey by virtue of the fact that they owned 100% of the company's issued share capital. | |||
During the year total dividends of £120,000 (2015 £100,000) were paid to the directors. | |||
The notes on pages 4-8 form part of these financial statements | |
page 8 |