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Registration number: 05186372

PB-Vac Ltd

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 March 2022

 

PB-Vac Ltd

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 7

 

PB-Vac Ltd

Company Information

Director

Mr Paul Mark Baker

Registered office

Anson House
21 Anson Road
Goring By Sea
Worthing
West Sussex
BN12 6JB

Bankers

TSB Bank plc
Bridport
9 West Street
Bridport
Dorset
DT6 3QJ

Accountants

Scott Vevers Ltd
Chartered Accountants
and Registered Auditors
65 East Street
Bridport
Dorset
DT6 3LB

 

PB-Vac Ltd

(Registration number: 05186372)
Abridged Balance Sheet as at 31 March 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

4

30,508

27,981

Current assets

 

Debtors

33,059

18,300

Cash at bank and in hand

 

150,788

142,649

 

183,847

160,949

Prepayments and accrued income

 

252

340

Creditors: Amounts falling due within one year

(20,970)

(19,586)

Net current assets

 

163,129

141,703

Total assets less current liabilities

 

193,637

169,684

Accruals and deferred income

 

(2,100)

(1,705)

Net assets

 

191,537

167,979

Capital and reserves

 

Called up share capital

5

110

110

Retained earnings

191,427

167,869

Shareholders' funds

 

191,537

167,979

 

PB-Vac Ltd

(Registration number: 05186372)
Abridged Balance Sheet as at 31 March 2022

For the financial 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 accounts for the year in question in accordance with section 476; and

The director acknowledges his 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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the director on 2 September 2022
 

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

Mr Paul Mark Baker

Director

 

PB-Vac Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2022

1

General information

The company is limited by shares incorporated in England within the United Kingdom. The address of the registered office is given in the company information on page 1 of these financial statements.

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 abridged financial statements were prepared in accordance with Section 1A of the Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

Basis of preparation

These abridged 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.

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.

Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received using the accrual model.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

 

PB-Vac Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2022

Tangible assets

Tangible assets are stated in the balance sheet 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.

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

Motor vehicles

25% reducing balance

Computer equipment

33 1/3% straight line

Plant and machinery

25% reducing balance

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2021 - 2).

 

PB-Vac Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2022

4

Tangible assets

Computer equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2021

2,029

47,988

3,275

53,292

Additions

-

30,269

-

30,269

Disposals

(2,029)

(29,485)

(3,275)

(34,789)

At 31 March 2022

-

48,772

-

48,772

Depreciation

At 1 April 2021

2,029

21,388

1,894

25,311

Charge for the year

-

10,169

-

10,169

Eliminated on disposal

(2,029)

(13,293)

(1,894)

(17,216)

At 31 March 2022

-

18,264

-

18,264

Carrying amount

At 31 March 2022

-

30,508

-

30,508

At 31 March 2021

-

26,600

1,381

27,981

 

PB-Vac Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2022

5

Share capital

Allotted, called up and fully paid shares

 

2022

2021

 

No.

£

No.

£

Ordinary "A" shares of £1 each

100

100

100

100

Ordinary "B" shares of £1 each

10

10

10

10

 

110

110

110

110