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REGISTERED NUMBER: 01431184 (England and Wales)












PEMBROKE DESIGN LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 MARCH 2023






PEMBROKE DESIGN LIMITED (REGISTERED NUMBER: 01431184)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PEMBROKE DESIGN LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: J Mansel-Thomas
A T Powell
M C Williams





SECRETARY: A T Powell





REGISTERED OFFICE: 16 Meyrick Street
Pembroke Dock
Pembrokeshire
SA72 6UT





REGISTERED NUMBER: 01431184 (England and Wales)





ACCOUNTANTS: Bevan Buckland LLP
Castle Chambers
6 Westgate Hill
Pembroke
Pembrokeshire
SA71 4LB

PEMBROKE DESIGN LIMITED (REGISTERED NUMBER: 01431184)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 110,585 112,564

CURRENT ASSETS
Stocks 36,785 38,750
Debtors 5 133,185 136,256
Cash at bank and in hand 5,054 12,608
175,024 187,614
CREDITORS
Amounts falling due within one year 6 111,400 118,938
NET CURRENT ASSETS 63,624 68,676
TOTAL ASSETS LESS CURRENT
LIABILITIES

174,209

181,240

CREDITORS
Amounts falling due after more than one
year

7

23,009

42,064
NET ASSETS 151,200 139,176

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 151,000 138,976
SHAREHOLDERS' FUNDS 151,200 139,176

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 October 2023 and were signed on its behalf by:




A T Powell - Director J Mansel-Thomas - Director



M C Williams - Director


PEMBROKE DESIGN LIMITED (REGISTERED NUMBER: 01431184)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Pembroke Design Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 1% on cost
Fixtures and fittings - Straight line over 4 years

Government grants
CJRS grant income is recognised at the date it arises.

Other revenue grant income is recognised at the date of receipt

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 8 ) .

PEMBROKE DESIGN LIMITED (REGISTERED NUMBER: 01431184)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and
property fittings Totals
£    £    £   
COST
At 1 April 2022
and 31 March 2023 141,480 306,229 447,709
DEPRECIATION
At 1 April 2022 29,712 305,433 335,145
Charge for year 1,415 564 1,979
At 31 March 2023 31,127 305,997 337,124
NET BOOK VALUE
At 31 March 2023 110,353 232 110,585
At 31 March 2022 111,768 796 112,564

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 125,985 133,590
Other debtors 7,200 2,666
133,185 136,256

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 46,078 50,835
Trade creditors 3,118 2,631
Taxation and social security 33,108 31,451
Other creditors 29,096 34,021
111,400 118,938

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 23,009 42,064

8. RELATED PARTY DISCLOSURES

During the year rent of £12,000 (2022 £12,000) was charged from the Pembroke Design Pension Scheme, which is controlled by the directors. The rent is at full market value and a balance of £29,096 (2022 £34,041) is included in other creditors.

9. ULTIMATE CONTROLLING PARTY

No one shareholder holds more than 50% of the issued share capital. Therefore, the company is not ultimately controlled by any one person, control is shared.

PEMBROKE DESIGN LIMITED (REGISTERED NUMBER: 01431184)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

10. GRANT INCOME

During the period the company received the following grants relating to the Covid-19 pandemic.

2023 2022

HM Revenue & Customs - Job Retention Scheme - 8,651
* The UK Government will pay the interest for the first 12 months of the term of the Bounce Back Loan. After this period there is a fixed interest rate of 2.5%.

* The company also received business rate relief.