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REGISTERED NUMBER:
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PRINCIPAL RESOURCES LIMITED |
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Unaudited Financial Statements |
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for the Year Ended 31 May 2019 |
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REGISTERED NUMBER:
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PRINCIPAL RESOURCES LIMITED |
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Unaudited Financial Statements |
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for the Year Ended 31 May 2019 |
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PRINCIPAL RESOURCES LIMITED (REGISTERED NUMBER: 06600531) |
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Contents of the Financial Statements |
for the Year Ended 31 May 2019 |
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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 | 3 |
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PRINCIPAL RESOURCES LIMITED |
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Company Information |
for the Year Ended 31 May 2019 |
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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 Accountants |
Highdale House |
7 Centre Court |
Treforest Industrial Estate |
Pontypridd |
Rhondda Cynon Taff |
CF37 5YR |
PRINCIPAL RESOURCES LIMITED (REGISTERED NUMBER: 06600531) |
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Balance Sheet |
31 May 2019 |
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31.5.19 | 31.5.18 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT (LIABILITIES)/ASSETS | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
( |
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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 |
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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. |
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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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PRINCIPAL RESOURCES LIMITED (REGISTERED NUMBER: 06600531) |
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Notes to the Financial Statements |
for the Year Ended 31 May 2019 |
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1. | STATUTORY INFORMATION |
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Principal Resources 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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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents net invoiced sales of services from ordinary activities. |
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Revenue is measured recognised when goods are delivered and legal title has passed. It is recognised at the fair value of the |
consideration received or receivable. Revenue is reduced for estimated customer returns, rebates and other similar |
allowances. |
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Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of |
goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover |
from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion |
of a contract is measured by comparing the costs incurred for the work performed to date to the total estimated contract costs |
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Tangible fixed assets |
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Fixtures and fittings | - |
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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 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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PRINCIPAL RESOURCES LIMITED (REGISTERED NUMBER: 06600531) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 May 2019 |
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
and |
fittings |
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COST |
At 1 June 2018 |
and 31 May 2019 |
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DEPRECIATION |
At 1 June 2018 |
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Charge for year |
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At 31 May 2019 |
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NET BOOK VALUE |
At 31 May 2019 |
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At 31 May 2018 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.5.19 | 31.5.18 |
£ | £ |
Trade debtors |
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Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.5.19 | 31.5.18 |
£ | £ |
Taxation and social security |
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Other creditors |
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