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COMPANY REGISTRATION NUMBER: 01596548
P.D. IMPROVEMENTS LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 March 2022
P.D. IMPROVEMENTS LIMITED
STATEMENT OF FINANCIAL POSITION
31 March 2022
2022
2021
Note
£
£
£
£
FIXED ASSETS
Tangible assets
4
325,453
310,608
CURRENT ASSETS
Stocks
2,388
2,391
Debtors
5
5,270
Cash at bank and in hand
22,992
8,728
--------
--------
25,380
16,389
CREDITORS: amounts falling due within one year
6
166,396
168,457
---------
---------
NET CURRENT LIABILITIES
141,016
152,068
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
184,437
158,540
---------
---------
CAPITAL AND RESERVES
Called up share capital
100
100
Revaluation reserve
111,747
96,597
Profit and loss account
72,590
61,843
---------
---------
SHAREHOLDERS FUNDS
184,437
158,540
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 March 2022 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 financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
P.D. IMPROVEMENTS LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 March 2022
These financial statements were approved by the board of directors and authorised for issue on 18 August 2022 , and are signed on behalf of the board by:
P.M.G.S. Endicott
Director
Company registration number: 01596548
P.D. IMPROVEMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2022
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 22 Levant Street, Padiham, Burnley, BB12 7AS.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
(a) Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
(b) Revenue recognition
The turnover shown in the profit and loss account represents the invoice value of goods supplied and services provided during the year.
(c) Taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
(d) Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
(e) Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
10% per annum reducing balance
(f) Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
(g) Financial instruments
Basic financial instruments are recognised at amortised cost.
4. TANGIBLE ASSETS
Investment Properties
Equipment
Total
£
£
£
Cost or valuation
At 1 April 2021
303,000
15,423
318,423
Additions
466
466
Revaluations
15,150
15,150
---------
--------
---------
At 31 March 2022
318,150
15,889
334,039
---------
--------
---------
Depreciation
At 1 April 2021
7,815
7,815
Charge for the year
771
771
---------
--------
---------
At 31 March 2022
8,586
8,586
---------
--------
---------
Carrying amount
At 31 March 2022
318,150
7,303
325,453
---------
--------
---------
At 31 March 2021
303,000
7,608
310,608
---------
--------
---------
5. DEBTORS
2022
2021
£
£
Trade debtors
5,270
----
-------
6. CREDITORS: amounts falling due within one year
2022
2021
£
£
Corporation tax
3,029
982
Director loan accounts
163,367
167,475
---------
---------
166,396
168,457
---------
---------
7. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES
There are no transactions with directors that require disclosure under FRS 102 Section 1A.
8. RELATED PARTY TRANSACTIONS
No transactions with related parties were undertaken such as are required to be disclosed under the provisions of FRS 102 Section 1A.