Company registration number 09874963 (England and Wales)
Pennine Service Centre Ltd
Unaudited
financial statements
for the year ended 30 April 2023
PAGES FOR FILING WITH REGISTRAR
Pennine Service Centre Ltd
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 3
Pennine Service Centre Ltd
Statement of financial position
as at 30 April 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
12,375
Current assets
Stocks
329,075
-
Cash at bank and in hand
63,475
100
392,550
100
Creditors: amounts falling due within one year
(165,686)
Net current assets
226,864
100
Net assets
239,239
100
Capital and reserves
Called up share capital
4
100
100
Profit and loss reserves
239,139
Total equity
239,239
100
In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).
The director of the company has elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 25 August 2023 and are signed on its behalf by:
J Feather
Director
Company Registration No. 09874963
Pennine Service Centre Ltd
Notes to the financial statements
for the year ended 30 April 2023
- 2 -
1
Accounting policies
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
Turnover
Turnover represents the fair value of the consideration received for services provided in the normal course of business, and is shown net of VAT. Turnover is recognised upon the provision of services.
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Motor vehicles
33.33% Straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
1
2
Pennine Service Centre Ltd
Notes to the financial statements (continued)
for the year ended 30 April 2023
- 3 -
3
Tangible fixed assets
Motor vehicles
£
Cost
At 1 May 2022
Additions
13,500
At 30 April 2023
13,500
Depreciation and impairment
At 1 May 2022
Depreciation charged in the year
1,125
At 30 April 2023
1,125
Carrying amount
At 30 April 2023
12,375
At 30 April 2022
4
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
5
Company information
Pennine Service Centre Ltd is a private company limited by shares incorporated in England and Wales. The registered office is C/O Brighouse Superbikes, 1 George Street, Armytage Road, Brighouse, West Yorkshire, HD6 1PU.