Company registration number 06477498 (England and Wales)
PBA ACCOUNTANTS AND BUSINESS ADVISERS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
PBA ACCOUNTANTS AND BUSINESS ADVISERS LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
PBA ACCOUNTANTS AND BUSINESS ADVISERS LTD
BALANCE SHEET
AS AT 31 MARCH 2023
31 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
25,859
15,681
Current assets
Debtors
5
272,114
241,797
Cash at bank and in hand
346,063
361,329
618,177
603,126
Creditors: amounts falling due within one year
6
(282,496)
(323,752)
Net current assets
335,681
279,374
Total assets less current liabilities
361,540
295,055
Provisions for liabilities
(4,773)
(2,774)
Net assets
356,767
292,281
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
356,667
292,181
Total equity
356,767
292,281

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have 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 3 October 2023 and are signed on its behalf by:
Mr P Pointer
Mrs R Pennington
Director
Director
Company registration number 06477498 (England and Wales)
PBA ACCOUNTANTS AND BUSINESS ADVISERS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 2 -
1
Accounting policies
Company information

PBA Accountants and Business Advisers Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Ramsbury House, Charnham Lane, Hungerford, Berkshire, RG17 0EY.

1.1
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 a mounts 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.

1.2
Turnover

Turnover represents amounts receivable for accountancy services net of VA T after allowing for work in progress and deferred income. Work in progress reflects the time spent on the services provided and is shown in other debtors in the balance sheet.

1.3
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 5 years. It is now fully amortised.

1.4
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:

Fixtures, fittings & equipment
25% reducing balance method
Computer equipment
33.33% reducing balance method

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.

1.5
Cash at bank and in hand

Cash at bank and in hand are basic financial assets and include cash in hand and deposits held with banks.

PBA ACCOUNTANTS AND BUSINESS ADVISERS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 3 -
1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are measured at transaction. Other debtors include the value of contractual work in progress.

Classification of financial liabilities

Financial liabilities are classified according to the substance of the contractual arrangements entered into.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are recognised at transaction price

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities. Trade creditors are recognised at transaction price.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account 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.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

1.8
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

PBA ACCOUNTANTS AND BUSINESS ADVISERS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 4 -
1.10
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
18
19
3
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2022 and 31 March 2023
253,320
Amortisation and impairment
At 1 April 2022 and 31 March 2023
253,320
Carrying amount
At 31 March 2023
-
0
At 31 March 2022
-
0
PBA ACCOUNTANTS AND BUSINESS ADVISERS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 5 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2022
62,840
Additions
17,188
At 31 March 2023
80,028
Depreciation and impairment
At 1 April 2022
47,159
Depreciation charged in the year
7,010
At 31 March 2023
54,169
Carrying amount
At 31 March 2023
25,859
At 31 March 2022
15,681
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
118,627
92,270
Other debtors
153,487
149,527
272,114
241,797
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
170,237
168,085
Taxation and social security
89,188
86,903
Other creditors
23,071
68,764
282,496
323,752
PBA ACCOUNTANTS AND BUSINESS ADVISERS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 6 -
7
Operating lease commitments
Lessee

Operating lease payments represent rentals payable by the company for its office.

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
120,000
150,000
2023-03-31 2022-04-01 false 03 October 2023 CCH Software CCH Accounts Production 2023.200 No description of principal activity Mr P Pointer Mrs R Pennington 06477498 2022-04-01 2023-03-31 06477498 2023-03-31 06477498 2022-03-31 06477498 core:OtherPropertyPlantEquipment 2023-03-31 06477498 core:OtherPropertyPlantEquipment 2022-03-31 06477498 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 06477498 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 06477498 core:CurrentFinancialInstruments 2023-03-31 06477498 core:CurrentFinancialInstruments 2022-03-31 06477498 core:ShareCapital 2023-03-31 06477498 core:ShareCapital 2022-03-31 06477498 core:RetainedEarningsAccumulatedLosses 2023-03-31 06477498 core:RetainedEarningsAccumulatedLosses 2022-03-31 06477498 bus:Director1 2022-04-01 2023-03-31 06477498 bus:Director2 2022-04-01 2023-03-31 06477498 core:Goodwill 2022-04-01 2023-03-31 06477498 core:FurnitureFittings 2022-04-01 2023-03-31 06477498 core:ComputerEquipment 2022-04-01 2023-03-31 06477498 2021-04-01 2022-03-31 06477498 core:NetGoodwill 2022-03-31 06477498 core:NetGoodwill 2023-03-31 06477498 core:NetGoodwill 2022-03-31 06477498 core:OtherPropertyPlantEquipment 2022-03-31 06477498 core:OtherPropertyPlantEquipment 2022-04-01 2023-03-31 06477498 core:WithinOneYear 2023-03-31 06477498 core:WithinOneYear 2022-03-31 06477498 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 06477498 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 06477498 bus:FRS102 2022-04-01 2023-03-31 06477498 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 06477498 bus:FullAccounts 2022-04-01 2023-03-31 xbrli:pure xbrli:shares iso4217:GBP