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Unaudited Financial Statements for the Year Ended 31 January 2017 |
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P.T.F. Glass Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31 January 2017 |
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for |
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P.T.F. Glass Limited |
P.T.F. Glass Limited (Registered number: 06492890) |
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Contents of the Financial Statements |
for the Year Ended 31 January 2017 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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P.T.F. Glass Limited |
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Company Information |
for the Year Ended 31 January 2017 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Certified Accountants |
55 Fountain Street |
Morley |
Leeds |
West Yorkshire |
LS27 0AA |
P.T.F. Glass Limited (Registered number: 06492890) |
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Balance Sheet |
31 January 2017 |
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31.1.17 | 31.1.16 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Stocks | 6 |
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Debtors | 7 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 8 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their responsibilities for: |
(a) |
ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act
2006 and |
(b) |
preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
P.T.F. Glass Limited (Registered number: 06492890) |
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Balance Sheet - continued |
31 January 2017 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
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P.T.F. Glass Limited (Registered number: 06492890) |
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Notes to the Financial Statements |
for the Year Ended 31 January 2017 |
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1. | STATUTORY INFORMATION |
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P.T.F. Glass Limited is a
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registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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This is the first year of adoption of FRS 102. |
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The financial statements are presented in Sterling (£) |
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Turnover |
Turnover represents net invoiced sales of services excluding value added tax. Revenue is recognised at the point at |
which the invoice for services is issued. |
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Goodwill |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less |
any accumulated amortisation and any accumulated impairment losses. |
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Tangible fixed assets |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and |
accumulated impairment losses. |
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At each balance sheet date the company reviews the carrying amount of its tangible fixed assets to determine whether |
there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable |
amount of an asset is estimated in order to determine the extent of the impairment loss. |
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Stocks |
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the |
related revenue is recognised. The amount of any write down of stocks to net realisable value and all losses of stocks |
are recognised as an expense in the period in which the write down or loss occurs. The amount of any reversal of any |
write down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in |
which the reversal occurs. |
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P.T.F. Glass Limited (Registered number: 06492890) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 January 2017 |
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2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the |
extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been enacted or |
substantively enacted by the balance sheet date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from |
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that |
have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the |
timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will |
be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 February 2016 |
and 31 January 2017 |
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AMORTISATION |
At 1 February 2016 |
and 31 January 2017 |
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NET BOOK VALUE |
At 31 January 2017 |
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At 31 January 2016 |
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P.T.F. Glass Limited (Registered number: 06492890) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 January 2017 |
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5. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Motor |
machinery | fittings | vehicles | Totals |
£ | £ | £ | £ |
COST |
At 1 February 2016 |
and 31 January 2017 |
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DEPRECIATION |
At 1 February 2016 |
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Charge for year |
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At 31 January 2017 |
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NET BOOK VALUE |
At 31 January 2017 |
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At 31 January 2016 |
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6. | STOCKS |
31.1.17 | 31.1.16 |
£ | £ |
Stocks |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.1.17 | 31.1.16 |
£ | £ |
Trade debtors |
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Prepayments |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.1.17 | 31.1.16 |
£ | £ |
Trade creditors |
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Tax |
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Social security and other taxes |
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VAT |
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Directors' current accounts |
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Accrued expenses |
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9. | RELATED PARTY DISCLOSURES |
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During the year, total dividends of £24,000 (2016 - £13,500) were paid to the directors . |
P.T.F. Glass Limited (Registered number: 06492890) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 January 2017 |
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9. | RELATED PARTY DISCLOSURES - continued |
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The directors provided an interest free loan to the company. Additional monies loaned to the company in the year |
amounted to £24,000 and withdrawal of £22,388 were made. |
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Amount due to related party as at 31st January 2017 was £12,500 (2016 - £10,888). |
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10. | FIRST YEAR ADOPTION |
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he financial statements for the year ended 31 January 2017 are the first for P T F Glass Limited prepared in |
accordance with FRS 102, the reporting standard applicable in the UK and Republic of Ireland. The date of |
transition to FRS 102 was 1 February 2015. The reported financial position and financial performance of the |
previous period are not affected by the transition to FRS 102. |
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