P And B Ta Limited NI021423 false 2016-04-01 2017-03-31 2017-03-31 The principal activity of the company is Retail sale of beverages Digita Accounts Production Advanced 6.20.8420.0 Software true true NI021423 2016-04-01 2017-03-31 NI021423 2017-03-31 NI021423 bus:Director1 1 2017-03-31 NI021423 bus:OrdinaryShareClass1 2017-03-31 NI021423 core:RetainedEarningsAccumulatedLosses 2017-03-31 NI021423 core:RevaluationReserve 2017-03-31 NI021423 core:ShareCapital 2017-03-31 NI021423 core:CurrentFinancialInstruments 2017-03-31 NI021423 core:CurrentFinancialInstruments core:WithinOneYear 2017-03-31 NI021423 core:FurnitureFittingsToolsEquipment 2017-03-31 NI021423 core:LandBuildings 2017-03-31 NI021423 core:OtherPropertyPlantEquipment 2017-03-31 NI021423 bus:SmallEntities 2016-04-01 2017-03-31 NI021423 bus:AuditExemptWithAccountantsReport 2016-04-01 2017-03-31 NI021423 bus:FullAccounts 2016-04-01 2017-03-31 NI021423 bus:RegisteredOffice 2016-04-01 2017-03-31 NI021423 bus:Director1 2016-04-01 2017-03-31 NI021423 bus:Director1 1 2016-04-01 2017-03-31 NI021423 bus:OrdinaryShareClass1 2016-04-01 2017-03-31 NI021423 bus:PrivateLimitedCompanyLtd 2016-04-01 2017-03-31 NI021423 bus:Agent1 2016-04-01 2017-03-31 NI021423 core:FurnitureFittings 2016-04-01 2017-03-31 NI021423 core:FurnitureFittingsToolsEquipment 2016-04-01 2017-03-31 NI021423 core:LandBuildings 2016-04-01 2017-03-31 NI021423 core:OtherPropertyPlantEquipment 2016-04-01 2017-03-31 NI021423 countries:NorthernIreland 2016-04-01 2017-03-31 NI021423 2016-03-31 NI021423 core:FurnitureFittingsToolsEquipment 2016-03-31 NI021423 core:LandBuildings 2016-03-31 NI021423 core:OtherPropertyPlantEquipment 2016-03-31 NI021423 2015-04-01 2016-03-31 NI021423 2016-03-31 NI021423 bus:Director1 1 2016-03-31 NI021423 bus:OrdinaryShareClass1 2016-03-31 NI021423 core:RetainedEarningsAccumulatedLosses 2016-03-31 NI021423 core:RevaluationReserve 2016-03-31 NI021423 core:ShareCapital 2016-03-31 NI021423 core:CurrentFinancialInstruments 2016-03-31 NI021423 core:CurrentFinancialInstruments core:WithinOneYear 2016-03-31 NI021423 core:FurnitureFittingsToolsEquipment 2016-03-31 NI021423 core:LandBuildings 2016-03-31 NI021423 core:OtherPropertyPlantEquipment 2016-03-31 NI021423 bus:Director1 1 2015-04-01 2016-03-31 NI021423 core:LandBuildings 2015-04-01 2016-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: NI021423

P And B Ta Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2017

SP McKeown & Co Ltd
Chartered Certified Accountants, Registered Auditors & Tax Advisors
5 Lower Catherine Street
Newry
Co Down
BT35 6BE

 

P And B Ta Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 8

 

P And B Ta Limited

Company Information

Director

Mrs Blinnia Mc Ardle

Registered office

15 Monaghan Street
Newry
Co Down
BT35 6BB

Solicitors

Elliot Trainor & Partnership
3 Downshire Road
Newry
Co Down
BT34 1E

Bankers

Danske Bank
Newry
58 Hill Street
Newry
BT34 1BD

Accountants

SP McKeown & Co Ltd
Chartered Certified Accountants, Registered Auditors & Tax Advisors
5 Lower Catherine Street
Newry
Co Down
BT35 6BE

 

P And B Ta Limited

(Registration number: NI021423)
Balance Sheet as at 31 March 2017

Note

2017
£

2016
£

Fixed assets

 

Tangible assets

4

93,861

241,787

Current assets

 

Stocks

5

18,750

12,750

Cash at bank and in hand

 

800

799

 

19,550

13,549

Creditors: Amounts falling due within one year

7

(48,101)

(45,324)

Net current liabilities

 

(28,551)

(31,775)

Net assets

 

65,310

210,012

Capital and reserves

 

Called up share capital

2

2

Revaluation reserve

-

145,787

Profit and loss account

65,308

64,223

Total equity

 

65,310

210,012

For the financial year ending 31 March 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 7 December 2017
 

.........................................
Mrs Blinnia Mc Ardle
Director

   
     
 

P And B Ta Limited

Notes to the Financial Statements for the Year Ended 31 March 2017

1

General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is:
15 Monaghan Street
Newry
Co Down
BT35 6BB

The principal place of business is:
7-9 Francis Street
Newry
Down
BT35 8BG

These financial statements were authorised for issue by the director on 7 December 2017.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

P And B Ta Limited

Notes to the Financial Statements for the Year Ended 31 March 2017

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

12.5% Straight Line Basis

Land and Buildings

2% Straight Line Basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

P And B Ta Limited

Notes to the Financial Statements for the Year Ended 31 March 2017

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2016 - 3).

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Other property, plant and equipment
 £

Total
£

Cost or valuation

At 1 April 2016

240,000

2,042

33,305

275,347

Disposals

(145,787)

-

-

(145,787)

At 31 March 2017

94,213

2,042

33,305

129,560

Depreciation

At 1 April 2016

-

255

33,305

33,560

Charge for the year

1,884

255

-

2,139

At 31 March 2017

1,884

510

33,305

35,699

Carrying amount

At 31 March 2017

92,329

1,532

-

93,861

At 31 March 2016

240,000

1,787

-

241,787

Included within the net book value of land and buildings above is £92,329 (2016 - £240,000) in respect of freehold land and buildings.
 

Impairment

Land and Buildings
Due to the change in policy in preparing the accounts under FRS102, the property is restated to the original cost of £94,213, and there is no revaluation reserve on the property The amount of impairment loss included in other comprehensive income is £145,787 (2016 - £Nil).

5

Stocks

2017
£

2016
£

Other inventories

18,750

12,750

6

Debtors

2017
£

2016
£

-

-

 

P And B Ta Limited

Notes to the Financial Statements for the Year Ended 31 March 2017

7

Creditors

Creditors: amounts falling due within one year

Note

2017
£

2016
£

Due within one year

 

Bank loans and overdrafts

9

17,892

14,186

Trade creditors

 

16,148

15,386

Taxation and social security

 

1,925

3,081

Accruals and deferred income

 

1,500

1,500

Other creditors

 

10,636

11,171

 

48,101

45,324

8

Share capital

Allotted, called up and fully paid shares

 

2017

2016

 

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

         

9

Loans and borrowings

2017
£

2016
£

Current loans and borrowings

Bank overdrafts

17,892

14,186

10

Related party transactions

Transactions with directors

2017

At 1 April 2016
£

Other payments made to company by director
£

At 31 March 2017
£

Mrs Blinnia Mc Ardle

Directors loan repayable on demand

11,216

(535)

10,681

       
     

 
 

P And B Ta Limited

Notes to the Financial Statements for the Year Ended 31 March 2017

2016

At 1 April 2015
£

At 31 March 2016
£

Mrs Blinnia Mc Ardle

Directors loan repayable on demand

11,171

11,171

     
   

 

11

Transition to FRS 102

This is the first set of financial statements prepared by P And B Ta Limited in accordance with accounting standards issued by the Financial Reporting Council, including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland (“FRS 102”). The company transitioned from previously extant Irish and UK GAAP to FRS 102 as at 01st April 2016.

Balance Sheet at 1 April 2015
 

As originally reported
£

Reclassification
£

Remeasurement
£

As restated
£

Fixed assets

Tangible assets

240,000

-

-

240,000

Current assets

Stocks

12,750

-

-

12,750

Cash at bank and in hand

800

-

-

800

13,550

-

-

13,550

Creditors: Amounts falling due within one year

(30,782)

-

-

(30,782)

Net current liabilities

(17,232)

-

-

(17,232)

Total assets less current liabilities

222,768

-

-

222,768

Creditors: Amounts falling due after more than one year

(11,216)

-

-

(11,216)

Net assets

211,552

-

-

211,552

Capital and reserves

Called up share capital

2

-

-

2

Revaluation reserve

145,787

-

-

145,787

Profit and loss account

65,763

-

-

65,763

Total equity

211,552

-

-

211,552

 

P And B Ta Limited

Notes to the Financial Statements for the Year Ended 31 March 2017

Balance Sheet at 31 March 2016
 

As originally reported
£

Reclassification
£

Remeasurement
£

As restated
£

Fixed assets

Tangible assets

241,787

-

(145,787)

96,000

Current assets

Stocks

12,750

-

-

12,750

Cash at bank and in hand

799

-

-

799

13,549

-

-

13,549

Creditors: Amounts falling due within one year

(34,153)

-

-

(34,153)

Net current liabilities

(20,604)

-

-

(20,604)

Total assets less current liabilities

221,183

-

(145,787)

75,396

Creditors: Amounts falling due after more than one year

(11,171)

-

-

(11,171)

Net assets/(liabilities)

210,012

-

(145,787)

64,225

Capital and reserves

Called up share capital

2

-

-

2

Revaluation reserve

145,787

-

(145,787)

-

Profit and loss account

64,223

-

-

64,223

Total equity

210,012

-

(145,787)

64,225


Options

Monitor

  • Receive an alert email on changes to financial status
  • Early indications of liquidity problems
  • Warns when company reporting is overdue
  • Free service, no spam emails
Monitor Now

Please Help Us!

Was this document useful to you? Please Like our page. The more Likes we get, the more documents we can supply you free. Thanks.