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REGISTERED NUMBER: 04666013 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

PRESTON UNDERLAY CENTRE LIMITED

PRESTON UNDERLAY CENTRE LIMITED (REGISTERED NUMBER: 04666013)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PRESTON UNDERLAY CENTRE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTOR: S A Rose





REGISTERED OFFICE: 7 Rye Street
Preston
PR1 1PN





REGISTERED NUMBER: 04666013 (England and Wales)





ACCOUNTANTS: Turner Accountants
Chartered Accountants
9 Victoria Rd
Fulwood
Preston
Lancashire
PR2 8ND

PRESTON UNDERLAY CENTRE LIMITED (REGISTERED NUMBER: 04666013)

BALANCE SHEET
28 FEBRUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 234,016 171,288
234,016 171,288

CURRENT ASSETS
Stocks 680,521 441,377
Debtors 6 951,433 905,776
Cash at bank and in hand 488,172 550,169
2,120,126 1,897,322
CREDITORS
Amounts falling due within one year 7 774,826 787,678
NET CURRENT ASSETS 1,345,300 1,109,644
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,579,316

1,280,932

CREDITORS
Amounts falling due after more than one
year

8

(73,241

)

(95,088

)

PROVISIONS FOR LIABILITIES 10 (44,283 ) (32,353 )
NET ASSETS 1,461,792 1,153,491

CAPITAL AND RESERVES
Called up share capital 11 48 48
Capital redemption reserve 180 180
Retained earnings 1,461,564 1,153,263
SHAREHOLDERS' FUNDS 1,461,792 1,153,491

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

PRESTON UNDERLAY CENTRE LIMITED (REGISTERED NUMBER: 04666013)

BALANCE SHEET - continued
28 FEBRUARY 2023


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 director and authorised for issue on 5 October 2023 and were signed by:





S A Rose - Director


PRESTON UNDERLAY CENTRE LIMITED (REGISTERED NUMBER: 04666013)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023


1. STATUTORY INFORMATION

Preston Underlay Centre 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 represents net invoiced sales of goods, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of one years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - 10% on cost
Plant and machinery etc - 25% on reducing balance, 20% on reducing balance and 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2022 - 17 ) .

PRESTON UNDERLAY CENTRE LIMITED (REGISTERED NUMBER: 04666013)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2022
and 28 February 2023 20,000
AMORTISATION
At 1 March 2022
and 28 February 2023 20,000
NET BOOK VALUE
At 28 February 2023 -
At 28 February 2022 -

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 March 2022 12,302 375,077 387,379
Additions - 186,004 186,004
Disposals - (102,234 ) (102,234 )
At 28 February 2023 12,302 458,847 471,149
DEPRECIATION
At 1 March 2022 12,302 203,789 216,091
Charge for year - 75,929 75,929
Eliminated on disposal - (54,887 ) (54,887 )
At 28 February 2023 12,302 224,831 237,133
NET BOOK VALUE
At 28 February 2023 - 234,016 234,016
At 28 February 2022 - 171,288 171,288

PRESTON UNDERLAY CENTRE LIMITED (REGISTERED NUMBER: 04666013)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 March 2022 204,953
Additions 97,521
Disposals (99,234 )
At 28 February 2023 203,240
DEPRECIATION
At 1 March 2022 80,566
Charge for year 44,203
Eliminated on disposal (54,137 )
At 28 February 2023 70,632
NET BOOK VALUE
At 28 February 2023 132,608
At 28 February 2022 124,387

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 923,939 881,437
Other debtors 27,494 24,339
951,433 905,776

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 9,566 9,566
Hire purchase contracts 45,844 34,509
Trade creditors 498,300 357,951
Taxation and social security 152,463 144,770
Other creditors 68,653 240,882
774,826 787,678

PRESTON UNDERLAY CENTRE LIMITED (REGISTERED NUMBER: 04666013)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 20,263 28,965
Hire purchase contracts 52,978 66,123
73,241 95,088

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 29,829 38,531
Hire purchase contracts 98,822 100,632
128,651 139,163

Hire purchase liabilities are secured on the assets to which they relate.

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 44,283 32,353

Deferred
tax
£   
Balance at 1 March 2022 32,353
Charge to Income Statement during year 11,930
Balance at 28 February 2023 44,283

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
72 Ordinary 'A' £1 - -
48 Ordinary 'B' £1 45 45
3 Ordinary 'C' 1 3 3
48 48