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REGISTERED NUMBER: 01284214 (England and Wales)















PILVALE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023






PILVALE LIMITED (REGISTERED NUMBER: 01284214)

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










Page

Company Information 1

Chartered Accountants' Report 2

Statement of Financial Position 3

Notes to the Financial Statements 5


PILVALE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Mrs P.M. Scott
Mr J.C. Bell
Mrs P.S.I. Bell



SECRETARY: Mrs. A.M. Webb



REGISTERED OFFICE: Davies House
4 Lowndes Road
Stourbridge
West Midlands
DY8 3SS



REGISTERED NUMBER: 01284214 (England and Wales)



ACCOUNTANTS: Folkes Worton LLP
15-17 Church Street
Stourbridge
West Midlands
DY8 1LU



BANKERS: Lloyds Bank plc
134 High Street
Stourbridge
West Midlands
DY8 1DS

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
PILVALE LIMITED


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Pilvale Limited for the year ended 31 March 2023 which comprise the Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Pilvale Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Pilvale Limited and state those matters that we have agreed to state to the Board of Directors of Pilvale Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Pilvale Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Pilvale Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Pilvale Limited. You consider that Pilvale Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Pilvale Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Folkes Worton LLP
15-17 Church Street
Stourbridge
West Midlands
DY8 1LU


4 October 2023

PILVALE LIMITED (REGISTERED NUMBER: 01284214)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 504,112 354,264

CURRENT ASSETS
Debtors 5 380,353 310,031
Cash at bank and in hand 75,464 161,488
455,817 471,519
CREDITORS
Amounts falling due within one year 6 14,584 35,025
NET CURRENT ASSETS 441,233 436,494
TOTAL ASSETS LESS CURRENT
LIABILITIES

945,345

790,758

PROVISIONS FOR LIABILITIES 77,546 43,667
NET ASSETS 867,799 747,091

CAPITAL AND RESERVES
Called up share capital 1,100 1,100
Capital redemption reserve 7 20 20
Fair value reserve 7 381,849 310,850
Retained earnings 7 484,830 435,121
SHAREHOLDERS' FUNDS 867,799 747,091

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.

PILVALE LIMITED (REGISTERED NUMBER: 01284214)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 October 2023 and were signed on its behalf by:





Mrs P.M. Scott - Director


PILVALE LIMITED (REGISTERED NUMBER: 01284214)

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


1. STATUTORY INFORMATION

Pilvale 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 as modified by the revaluation of certain assets.

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business and is shown net of value added tax.

Revenue from the sale of goods and the provision of services is recognised when:
- the significant risks and rewards of ownership of the goods have passed to the buyer, usually on dispatch of the goods;
- the amount of the revenue can be measured reliably;
- it is probable that the economic benefits associated with the transaction will flow to the entity; and
- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets
Tangible fixed assets are initially measured at cost. After initial recognition, tangible fixed assets other than freehold properties are measured at cost less any accumulated depreciation and any accumulated impairment losses. Freehold properties are subject to periodic revaluation with depreciation charged in intervening periods.

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.
Freehold property- 4% on cost
Fixtures and fittings-10% on cost
Motor vehicles-25% on cost
No depreciation is provided on freehold land.

The gain or loss arising on the disposal of an asset is determined as the difference between the disposal proceeds and the carrying value of the asset and is credited or charged to the statement of comprehensive income.

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 statement of financial position date.


PILVALE LIMITED (REGISTERED NUMBER: 01284214)

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


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 12 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor
property fittings vehicles Totals
£    £    £    £   
COST OR VALUATION
At 1 April 2022 350,000 63,953 27,794 441,747
Additions - 508 - 508
Revaluations 150,000 - - 150,000
At 31 March 2023 500,000 64,461 27,794 592,255
DEPRECIATION
At 1 April 2022 - 59,689 27,794 87,483
Charge for year - 660 - 660
At 31 March 2023 - 60,349 27,794 88,143
NET BOOK VALUE
At 31 March 2023 500,000 4,112 - 504,112
At 31 March 2022 350,000 4,264 - 354,264

PILVALE LIMITED (REGISTERED NUMBER: 01284214)

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


4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31 March 2023 is represented by:

Fixtures
Freehold and Motor
property fittings vehicles Totals
£    £    £    £   
Valuation in 2003 160,850 - - 160,850
Valuation in 2017 150,000 - - 150,000
Valuation in 2023 150,000 - - 150,000
Cost 39,150 64,461 27,794 131,405
500,000 64,461 27,794 592,255

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 39,150 39,150
Aggregate depreciation 39,150 39,150

Freehold land and buildings are included at fair value. The directors took some informal professional advice regarding the market value of the property in 2022.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 364,532 296,518
Other debtors 15,821 13,513
380,353 310,031

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 4,722 3,958
Other creditors 9,862 31,067
14,584 35,025

PILVALE LIMITED (REGISTERED NUMBER: 01284214)

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


7. RESERVES
Capital Fair
Retained redemption value
earnings reserve reserve Totals
£    £    £    £   

At 1 April 2022 435,121 20 310,850 745,991
Profit for the year 708 708
Dividends (30,000 ) (30,000 )
Movement 79,001 - 70,999 150,000
At 31 March 2023 484,830 20 381,849 866,699