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Registration number: 06254870

Preservatim (Southern) Ltd

Directors' Report and Unaudited Financial Statements

for the Year Ended 30 June 2013
 

Redshield Business Solutions Limited
Chartered Accountants
Unit 2
Birchden Farm
Broadwater Forest Lane
Groombridge, Tunbridge Wells
Kent
TN3 9NR

 

Preservatim (Southern) Ltd
Contents

Company Information

1

Directors' Report

2

Accountants' Report

3

Profit and Loss Account

4

Balance Sheet

5

Notes to the Financial Statements

6 to 9

The following pages do not form part of the statutory financial statements:

Detailed Profit and Loss Account

10 to 11

 

Preservatim (Southern) Ltd
Company Information

Directors

AD Field

A Field
 

Company secretary

A Field

Registered office

New Oaks
Southview Close
Southview Road
Crowborough
East Sussex
TN6 1HH

Bankers

National Westminster Bank Plc
Tonbridge
130 High Street
Tonbridge
Kent
TN9 1DE

Accountants

Redshield Business Solutions Limited
Chartered Accountants
Unit 2
Birchden Farm
Broadwater Forest Lane
Groombridge, Tunbridge Wells
Kent
TN3 9NR

 

Preservatim (Southern) Ltd
Directors' Report for the Year Ended 30 June 2013

The directors present their report and the unaudited financial statements for the year ended 30 June 2013.

Directors of the company

The directors who held office during the year were as follows:

AD Field

A Field

Principal activity

The principal activity of the company is curing woodworm infestation, dry rot and rising damp.

Small company provisions

This report has been prepared in accordance with the small companies regime under the Companies Act 2006.

Approved by the Board on 7 November 2013 and signed on its behalf by:

.........................................
AD Field
Director

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Preservatim (Southern) Ltd
for the Year Ended 30 June 2013

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Preservatim (Southern) Ltd for the year ended 30 June 2013 set out on pages 4 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Preservatim (Southern) Ltd, as a body, in accordance with the terms of our engagement letter dated 5 October 2010. Our work has been undertaken solely to prepare for your approval the accounts of Preservatim (Southern) Ltd and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Preservatim (Southern) Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Preservatim (Southern) Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Preservatim (Southern) Ltd. You consider that Preservatim (Southern) 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 accounts of Preservatim (Southern) 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 accounts.

......................................

Redshield Business Solutions Limited
Chartered Accountants
Unit 2
Birchden Farm
Broadwater Forest Lane
Groombridge, Tunbridge Wells
Kent
TN3 9NR

11 November 2013

 

Preservatim (Southern) Ltd
Profit and Loss Account for the Year Ended 30 June 2013

 

Note

   

2013
£

   

2012
£

 

Turnover

 

   

66,092

   

72,283

 

Cost of sales

 

   

(16,570)

   

(13,569)

 

Gross profit

 

   

49,522

   

58,714

 

Administrative expenses

 

   

(38,329)

   

(36,788)

 

Operating profit

 

2

   

11,193

   

21,926

 

Other interest receivable and similar income

 

   

1

   

10

 

Profit on ordinary activities before taxation

 

   

11,194

   

21,936

 

Tax on profit on ordinary activities

 

4

   

(2,481)

   

(4,689)

 

Profit for the financial year

 

10

   

8,713

   

17,247

 

The notes on pages 6 to 9 form an integral part of these financial statements.
Page 4

 

Preservatim (Southern) Ltd
(Registration number: 06254870)
Balance Sheet at 30 June 2013

 

Note

   

2013
£

   

2012
£

 

Fixed assets

 

   

   

 

Tangible fixed assets

 

5

   

5,392

   

6,385

 

Current assets

 

   

   

 

Stocks

 

   

321

   

1,838

 

Debtors

 

6

   

477

   

719

 

Cash at bank and in hand

 

   

14,027

   

19,716

 

 

   

14,825

   

22,273

 

Creditors: Amounts falling due within one year

 

7

   

(20,976)

   

(28,130)

 

Net current liabilities

 

   

(6,151)

   

(5,857)

 

Net (liabilities)/assets

 

   

(759)

   

528

 

Capital and reserves

 

   

   

 

Called up share capital

 

8

   

2

   

2

 

Profit and loss account

 

10

   

(761)

   

526

 

Shareholders' (deficit)/funds

 

   

(759)

   

528

 

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2008).

For the year ending 30 June 2013 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

Approved by the Board on 7 November 2013 and signed on its behalf by:

.........................................
AD Field
Director

The notes on pages 6 to 9 form an integral part of these financial statements.
Page 5

 

Preservatim (Southern) Ltd
Notes to the Financial Statements for the Year Ended 30 June 2013
......... continued

1

Accounting policies

Basis of preparation

The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% reducing balance method

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2

Operating profit

Operating profit is stated after charging:

 

2013
£

   

2012
£

 

 

   

 

Depreciation of tangible fixed assets

 

1,801

   

2,129

 

3

Directors' remuneration

The directors' remuneration for the year was as follows:

 

2013
£

   

2012
£

 

 

   

 

Remuneration

 

8,280

   

7,884

 
 

Preservatim (Southern) Ltd
Notes to the Financial Statements for the Year Ended 30 June 2013
......... continued

4

Taxation

Tax on profit on ordinary activities

 

2013
£

   

2012
£

 

Current tax

 

   

 

Corporation tax charge

 

2,481

   

4,689

 

5

Tangible fixed assets

 

Plant and machinery
£

   

Total
£

 

Cost or valuation

 

   

 

At 1 July 2012

 

15,540

   

15,540

 

Additions

 

808

   

808

 

At 30 June 2013

 

16,348

   

16,348

 

Depreciation

 

   

 

At 1 July 2012

 

9,155

   

9,155

 

Charge for the year

 

1,801

   

1,801

 

At 30 June 2013

 

10,956

   

10,956

 

Net book value

 

   

 

At 30 June 2013

 

5,392

   

5,392

 

At 30 June 2012

 

6,385

   

6,385

 

6

Debtors

 

2013
£

   

2012
£

 

 

   

 

Trade debtors

 

477

   

719

 
 

Preservatim (Southern) Ltd
Notes to the Financial Statements for the Year Ended 30 June 2013
......... continued

7

Creditors: Amounts falling due within one year

 

2013
£

   

2012
£

 

 

   

 

Trade creditors

 

2,718

   

2,596

 

Corporation tax

 

2,481

   

4,689

 

Other taxes and social security

 

2,793

   

2,430

 

Other creditors

 

12,984

   

18,415

 

 

20,976

   

28,130

 

8

Share capital

Allotted, called up and fully paid shares

 

2013

2012

   

No.

   

£

   

No.

   

£

 

Ordinary shares of £1 each

 

2

   

2

   

2

   

2

 
                         

9

Dividends

 

2013
£

   

2012
£

 

Dividends paid

 

   

 

Current year interim dividend paid

 

10,000

   

17,000

 

10

Reserves

 

Profit and loss account
£

   

Total
£

 

 

   

 

At 1 July 2012

 

526

   

526

 

 

   

 

Profit for the year

 

8,713

   

8,713

 

Dividends

 

(10,000)

   

(10,000)

 

At 30 June 2013

 

(761)

   

(761)

 
 

Preservatim (Southern) Ltd
Notes to the Financial Statements for the Year Ended 30 June 2013
......... continued

11

Related party transactions

Other related party transactions

During the year the company made the following related party transactions:

AD Field ( Director ) At the balance sheet date the amount due to AD Field was £6,189 ( 2012 - £9,213 ) .

A Field ( Director ) At the balance sheet date the amount due to A Field was £5,794 ( 2012 - £8,294 ) .

12

Control

The company is controlled by the directors who own 100% of the called up share capital.

 

Preservatim (Southern) Ltd
Detailed Profit and Loss Account for the Year Ended 30 June 2013

 

2013

   

2012

 
 

£

   

£

   

£

   

£

 

Turnover

 

   

66,092

   

   

72,283

 

Cost of sales

 

   

(16,570)

   

   

(13,569)

 

Gross profit

 

   

49,522

   

   

58,714

 

Gross profit (%)

 

   

74.93%

   

   

81.23%

 

Administrative expenses

 

   

   

   

 

Employment costs (analysed below)

 

(8,390)

   

   

(7,978)

   

 

Establishment costs (analysed below)

 

(1,699)

   

   

(1,751)

   

 

General administrative expenses (analysed below)

 

(26,039)

   

   

(24,512)

   

 

Finance charges (analysed below)

 

(400)

   

   

(418)

   

 

Depreciation costs (analysed below)

 

(1,801)

   

   

(2,129)

   

 

 

   

(38,329)

   

   

(36,788)

 

Other interest receivable and similar income (analysed below)

 

   

1

   

   

10

 

Profit on ordinary activities before taxation

 

   

11,194

   

   

21,936

 
 

Preservatim (Southern) Ltd
Detailed Profit and Loss Account for the Year Ended 30 June 2013

 

2013
£

2012
£

 

   

 

Employment costs

 

   

 

Directors remuneration

 

8,280

   

7,884

 

Directors NIC (Employers)

 

110

   

94

 

 

8,390

   

7,978

 

 

   

 

Establishment costs

 

   

 

Insurance

 

1,519

   

1,571

 

Use of home as office

 

180

   

180

 

 

1,699

   

1,751

 

 

   

 

General administrative expenses

 

   

 

Telephone and fax

 

3,445

   

2,993

 

Printing, postage and stationery

 

503

   

703

 

Trade subscriptions

 

-

   

412

 

Sundry expenses

 

-

   

35

 

Management charges payable

 

9,600

   

9,600

 

Accountancy fees

 

1,323

   

1,179

 

Motor expenses

 

6,075

   

6,523

 

Advertising

 

4,876

   

2,911

 

Customer entertaining (disallowable for tax)

 

217

   

156

 

 

26,039

   

24,512

 

 

   

 

Finance charges

 

   

 

Bank charges

 

400

   

418

 

 

   

 

Depreciation costs

 

   

 

Depreciation of plant and machinery

 

1,801

   

2,129

 

 

   

 

Other interest receivable and similar income

 

   

 

Bank interest receivable

 

1

   

10

 

 

1

   

10