Registered number
07505875
Pestoclear Chester and Wirral Limited
Filleted Accounts
31 May 2022
Pestoclear Chester and Wirral Limited
Registered number: 07505875
Balance Sheet
as at 31 May 2022
Notes 2022 2021
£ £
Fixed assets
Tangible assets 4 17,699 17,839
Current assets
Stocks 3,692 1,688
Debtors 5 21,588 28,858
Cash at bank and in hand 454 10,035
25,734 40,581
Creditors: amounts falling due within one year 6 (23,275) (20,113)
Net current assets 2,459 20,468
Total assets less current liabilities 20,158 38,307
Creditors: amounts falling due after more than one year 7 (16,745) (22,224)
Provisions for liabilities (3,358) (3,343)
Net assets 55 12,740
Capital and reserves
Called up share capital 2 2
Profit and loss account 53 12,738
Shareholders' funds 55 12,740
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr S Harwood
Director
Approved by the board on 19 August 2022
Pestoclear Chester and Wirral Limited
Notes to the Accounts
for the year ended 31 May 2022
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. 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 work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Motor vehicles 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 4 4
3 Intangible fixed assets £
Goodwill:
Cost
At 1 June 2021 4,800
At 31 May 2022 4,800
Amortisation
At 1 June 2021 4,800
At 31 May 2022 4,800
Net book value
At 31 May 2022 -
Goodwill was written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 June 2021 14,792 16,570 31,362
Additions 1,901 - 1,901
Disposals (500) - (500)
At 31 May 2022 16,193 16,570 32,763
Depreciation
At 1 June 2021 12,487 1,036 13,523
Charge for the year 1,070 971 2,041
On disposals (500) - (500)
At 31 May 2022 13,057 2,007 15,064
Net book value
At 31 May 2022 3,136 14,563 17,699
At 31 May 2021 2,305 15,534 17,839
5 Debtors 2022 2021
£ £
Trade debtors 11,730 22,382
Other debtors 9,858 6,476
21,588 28,858
6 Creditors: amounts falling due within one year 2022 2021
£ £
Bank loans and overdrafts 5,737 5,994
Trade creditors 1,157 1,107
Taxation and social security costs 15,173 10,804
Other creditors 1,208 2,208
23,275 20,113
7 Creditors: amounts falling due after one year 2022 2021
£ £
Bank loans 16,745 22,224
8 Other information
Pestoclear Chester and Wirral Limited is a private company limited by shares and incorporated in England. Its registered office is:
255 Poulton Road
Wallasey
Wirral
CH44 4BT
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