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REGISTERED NUMBER: 03223184 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JULY 2023

FOR

PREFERRED PARTITIONING INDUSTRIES
LIMITED

PREFERRED PARTITIONING INDUSTRIES
LIMITED (REGISTERED NUMBER: 03223184)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31st July 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PREFERRED PARTITIONING INDUSTRIES
LIMITED

COMPANY INFORMATION
for the Year Ended 31st July 2023







DIRECTORS: Mr S J Elmer
Mr D J Mellor
Mr C A Myers





REGISTERED OFFICE: Unit E Ridgeway Trading Estate
10-12 Feckenham Road
Astwood Bank
Redditch
Worcestershire
B96 6DS





REGISTERED NUMBER: 03223184 (England and Wales)





ACCOUNTANTS: Hayward Wright Ltd
4 Clews Road
Redditch
Worcestershire
B98 7ST

PREFERRED PARTITIONING INDUSTRIES
LIMITED (REGISTERED NUMBER: 03223184)

BALANCE SHEET
31st July 2023

31/7/23 31/7/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 117,344 103,879

CURRENT ASSETS
Stocks 500 500
Debtors 5 145,791 391,410
Cash at bank 193,143 156,104
339,434 548,014
CREDITORS
Amounts falling due within one year 6 122,249 348,835
NET CURRENT ASSETS 217,185 199,179
TOTAL ASSETS LESS CURRENT LIABILITIES 334,529 303,058

CREDITORS
Amounts falling due after more than one
year

7

(4,993

)

(47,681

)

PROVISIONS FOR LIABILITIES (13,795 ) (10,694 )
NET ASSETS 315,741 244,683

CAPITAL AND RESERVES
Called up share capital 8 20,000 20,000
Retained earnings 295,741 224,683
SHAREHOLDERS' FUNDS 315,741 244,683

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 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.

PREFERRED PARTITIONING INDUSTRIES
LIMITED (REGISTERED NUMBER: 03223184)

BALANCE SHEET - continued
31st July 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 Board of Directors and authorised for issue on 28th September 2023 and were signed on its behalf by:





Mr S J Elmer - Director


PREFERRED PARTITIONING INDUSTRIES
LIMITED (REGISTERED NUMBER: 03223184)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31st July 2023


1. STATUTORY INFORMATION

Preferred Partitioning Industries 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% 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.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in nonconvertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

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.


PREFERRED PARTITIONING INDUSTRIES
LIMITED (REGISTERED NUMBER: 03223184)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st July 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 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.

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.

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 6 (2022 - 6 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st August 2022 160,689
Additions 52,435
At 31st July 2023 213,124
DEPRECIATION
At 1st August 2022 56,810
Charge for year 38,970
At 31st July 2023 95,780
NET BOOK VALUE
At 31st July 2023 117,344
At 31st July 2022 103,879

PREFERRED PARTITIONING INDUSTRIES
LIMITED (REGISTERED NUMBER: 03223184)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st July 2023


4. 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 1st August 2022
and 31st July 2023 107,696
DEPRECIATION
At 1st August 2022 5,110
Charge for year 19,235
At 31st July 2023 24,345
NET BOOK VALUE
At 31st July 2023 83,351
At 31st July 2022 102,586

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/7/23 31/7/22
£    £   
Trade debtors 142,491 388,110
Other debtors 3,300 3,300
145,791 391,410

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/7/23 31/7/22
£    £   
Bank loans and overdrafts - 6,000
Hire purchase contracts 5,880 10,236
Trade creditors 47,117 204,492
Taxation and social security 65,226 88,828
Other creditors 4,026 39,279
122,249 348,835

PREFERRED PARTITIONING INDUSTRIES
LIMITED (REGISTERED NUMBER: 03223184)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st July 2023


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31/7/23 31/7/22
£    £   
Bank loans - 20,000
Hire purchase contracts 4,993 27,681
4,993 47,681

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/7/23 31/7/22
value: £    £   
20,000 Ordinary shares £1 20,000 20,000