Company Registration No. 6559064 (England and Wales)
PEARSON BUCHHOLZ LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 10 MARCH 2019
PAGES FOR FILING WITH REGISTRAR
PEARSON BUCHHOLZ LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
PEARSON BUCHHOLZ LIMITED
BALANCE SHEET
AS AT 10 MARCH 2019
10 March 2019
- 1 -
2019
2018
Notes
£
£
£
£
Fixed assets
Intangible assets
3
275,000
300,000
Tangible assets
4
8,836
28,130
283,836
328,130
Current assets
Debtors
5
469,797
446,180
Cash at bank and in hand
96,096
94,486
565,893
540,666
Creditors: amounts falling due within one year
6
(547,521)
(464,902)
Net current assets
18,372
75,764
Total assets less current liabilities
302,208
403,894
Creditors: amounts falling due after more than one year
7
-
(133,210)
Net assets
302,208
270,684
Capital and reserves
Called up share capital
8
1,185
1,185
Capital redemption reserve
625
625
Profit and loss reserves
300,398
268,874
Total equity
302,208
270,684
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial period ended 10 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
PEARSON BUCHHOLZ LIMITED
BALANCE SHEET (CONTINUED)
AS AT 10 MARCH 2019
10 March 2019
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 7 January 2020 and are signed on its behalf by:
L Buchholz
Director
Company Registration No. 6559064
PEARSON BUCHHOLZ LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 10 MARCH 2019
- 3 -
1
Accounting policies
Company information
Pearson Buchholz Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
264 Banbury Road, Oxford, OX2 7DY.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Reporting period
These accounts are prepared for a 10.5 month period to the cessation of trade on 10 March 2019.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
1.4
Intangible fixed assets - goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated
amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 20 years.
For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.
1.5
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and machinery
3 years straight line
Fixtures, fittings & equipment
4 years straight line
Motor vehicles
4 years straight line
PEARSON BUCHHOLZ LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 10 MARCH 2019
1
Accounting policies
(Continued)
- 4 -
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.6
Impairment of fixed assets
At each reporting
period
end date, the
company
reviews the carrying amounts of its tangible
and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company
estimates the recoverable amount of the cash-generating unit to which the asset belongs.
1.7
Cash and cash equivalents
Cash and cash equivalents
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.8
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset
, with
the net amounts presented in the financial statements
,
when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
1.9
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.10
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
1.11
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.12
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
PEARSON BUCHHOLZ LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 10 MARCH 2019
1
Accounting policies
(Continued)
- 5 -
1.13
Leases
Rentals payable under operating leases,
including
any lease incentives received, are charged to
profit or loss
on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease
s
asset are consumed.
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was 22 (2018 - 22).
3
Intangible fixed assets
Goodwill
£
Cost
At 1 May 2018 and 10 March 2019
600,000
Amortisation and impairment
At 1 May 2018
300,000
Amortisation charged for the period
25,000
At 10 March 2019
325,000
Carrying amount
At 10 March 2019
275,000
At 30 April 2018
300,000
PEARSON BUCHHOLZ LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 10 MARCH 2019
- 6 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 May 2018
97,856
Disposals
(30,995)
At 10 March 2019
66,861
Depreciation and impairment
At 1 May 2018
69,726
Depreciation charged in the period
11,978
Eliminated in respect of disposals
(23,679)
At 10 March 2019
58,025
Carrying amount
At 10 March 2019
8,836
At 30 April 2018
28,130
5
Debtors
2019
2018
Amounts falling due within one year:
£
£
Trade debtors
288,101
269,720
Other debtors
181,696
176,460
469,797
446,180
6
Creditors: amounts falling due within one year
2019
2018
£
£
Bank loans
135,316
28,669
Trade creditors
22,794
45,136
Corporation tax
38,951
44,942
Other taxation and social security
136,827
104,217
Other creditors
213,633
241,938
547,521
464,902
PEARSON BUCHHOLZ LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 10 MARCH 2019
- 7 -
7
Creditors: amounts falling due after more than one year
2019
2018
£
£
Bank loans and overdrafts
-
133,210
8
Called up share capital
2019
2018
£
£
Ordinary share capital
Issued and fully paid
67 Ordinary class 1 of £1 each
67
67
1,118 Ordinary class 2 of £1 each
1,118
1,118
1,185
1,185