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Registration number: 10635048

PM Agency Consulting Ltd

Annual Filleted Report and Unaudited Financial Statements

for the Year Ended 28 February 2022

 

PM Agency Consulting Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

PM Agency Consulting Ltd

Company Information

Directors

Mr Joshua Harrison Clayborough

Mrs Katie Danielle Marie Clayborough

Registered office

Unit 9 Taverners Walk
Sheepscar Grove
Leeds
West Yorkshire
LS7 1AH

Accountants

Smith Butler
Accountants & Business Advisors
Sapper Jordan Rossi Park
Otley Road
Baildon
West Yorkshire
BD17 7AX

 

PM Agency Consulting Ltd

(Registration number: 10635048)
Balance Sheet as at 28 February 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

4

1,435

993

Current assets

 

Debtors

5

11,227

18,777

Cash at bank and in hand

 

10,360

23,287

 

21,587

42,064

Creditors: Amounts falling due within one year

6

(13,293)

(29,548)

Net current assets

 

8,294

12,516

Total assets less current liabilities

 

9,729

13,509

Creditors: Amounts falling due after more than one year

6

(9,088)

(12,200)

Net assets

 

641

1,309

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

541

1,209

Shareholders' funds

 

641

1,309

For the financial year ending 28 February 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 Board on 8 August 2022 and signed on its behalf by:
 

 

PM Agency Consulting Ltd

(Registration number: 10635048)
Balance Sheet as at 28 February 2022

.........................................
Mr Joshua Harrison Clayborough
Director

 

PM Agency Consulting Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2022

1

General information

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

The address of its registered office is:
Unit 9 Taverners Walk
Sheepscar Grove
Leeds
West Yorkshire
LS7 1AH

These financial statements were authorised for issue by the Board on 8 August 2022.

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

PM Agency Consulting Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2022

Tax

The tax expense for the period comprises current 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.

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

Office equipment

20% Reducing balance

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

PM Agency Consulting Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2022

3

Staff numbers

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

 

PM Agency Consulting Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2022

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 March 2021

1,869

1,869

Additions

710

710

At 28 February 2022

2,579

2,579

Depreciation

At 1 March 2021

876

876

Charge for the year

268

268

At 28 February 2022

1,144

1,144

Carrying amount

At 28 February 2022

1,435

1,435

At 28 February 2021

993

993

5

Debtors

Current

2022
£

2021
£

Trade debtors

4,991

18,777

Other debtors

6,236

-

 

11,227

18,777

6

Creditors

Creditors: amounts falling due within one year

Note

2022
£

2021
£

Due within one year

 

Loans and borrowings

3,040

12

Taxation and social security

 

10,253

20,513

Other creditors

 

-

9,023

 

13,293

29,548

 

PM Agency Consulting Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2022

Creditors: amounts falling due after more than one year

Note

2022
£

2021
£

Due after one year

 

Loans and borrowings

9,088

12,200

7

Share capital

Allotted, called up and fully paid shares

 

2022

2021

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100