1 false false false false false false false false false true false false false false false false No description of principal activity 2022-04-06 Sage Accounts Production Advanced 2021 - FRS102_2021 370,870 152,088 134,522 388,436 134,087 48,944 46,242 136,789 251,647 236,783 50 50 50 xbrli:pure xbrli:shares iso4217:GBP 03569025 2022-04-06 2023-04-05 03569025 2023-04-05 03569025 2022-04-05 03569025 2021-04-06 2022-04-05 03569025 2022-04-05 03569025 core:PlantMachinery 2022-04-06 2023-04-05 03569025 bus:Director1 2022-04-06 2023-04-05 03569025 core:PlantMachinery 2022-04-05 03569025 core:PlantMachinery 2023-04-05 03569025 core:WithinOneYear 2023-04-05 03569025 core:WithinOneYear 2022-04-05 03569025 core:AfterOneYear 2023-04-05 03569025 core:AfterOneYear 2022-04-05 03569025 core:ShareCapital 2023-04-05 03569025 core:ShareCapital 2022-04-05 03569025 core:RetainedEarningsAccumulatedLosses 2023-04-05 03569025 core:RetainedEarningsAccumulatedLosses 2022-04-05 03569025 core:CostValuation core:Non-currentFinancialInstruments 2023-04-05 03569025 core:Non-currentFinancialInstruments 2023-04-05 03569025 core:Non-currentFinancialInstruments 2022-04-05 03569025 core:PlantMachinery 2022-04-05 03569025 bus:SmallEntities 2022-04-06 2023-04-05 03569025 bus:AuditExemptWithAccountantsReport 2022-04-06 2023-04-05 03569025 bus:FullAccounts 2022-04-06 2023-04-05 03569025 bus:SmallCompaniesRegimeForAccounts 2022-04-06 2023-04-05 03569025 bus:PrivateLimitedCompanyLtd 2022-04-06 2023-04-05
COMPANY REGISTRATION NUMBER: 03569025
A C Pembroke (Builder) Limited
Unaudited financial statements
5 April 2023
A C Pembroke (Builder) Limited
Statement of financial position
5 April 2023
2023
2022
Note
£
£
£
£
Fixed assets
Tangible assets
5
251,647
236,783
Investments
6
50
50
---------
---------
251,697
236,833
Current assets
Stocks
1,515,794
1,316,794
Debtors
7
384,300
749,909
Cash at bank and in hand
1,324,457
865,741
-----------
-----------
3,224,551
2,932,444
Creditors: Amounts falling due within one year
8
( 473,600)
( 379,432)
-----------
-----------
Net current assets
2,750,951
2,553,012
-----------
-----------
Total assets less current liabilities
3,002,648
2,789,845
Creditors: Amounts falling due after more than one year
9
( 175,199)
( 227,119)
Provisions
Taxation including deferred tax
( 39,747)
( 57,957)
-----------
-----------
Net assets
2,787,702
2,504,769
-----------
-----------
Capital and reserves
Called up share capital
2
2
Profit and loss account
2,787,700
2,504,767
-----------
-----------
Shareholders funds
2,787,702
2,504,769
-----------
-----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the year ending 5 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
A C Pembroke (Builder) Limited
Statement of financial position (continued)
5 April 2023
These financial statements were approved by the board of directors and authorised for issue on 3 October 2023 , and are signed on behalf of the board by:
Mr A C Pembroke
Director
Company registration number: 03569025
A C Pembroke (Builder) Limited
Notes to the financial statements
Year ended 5 April 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Rivendell, High Road, Burgh Castle, Great Yarmouth, Norfolk, NR31 9QL.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
Provision is made, under the liability method, to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and equipment
-
25% reducing balance
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
4. Employee numbers
The average number of employees during the year was 1 (2022: 1 ).
5. Tangible assets
Plant and equipment
Total
£
£
Cost
At 6 April 2022
370,870
370,870
Additions
152,088
152,088
Disposals
( 134,522)
( 134,522)
---------
---------
At 5 April 2023
388,436
388,436
---------
---------
Depreciation
At 6 April 2022
134,087
134,087
Charge for the year
48,944
48,944
Disposals
( 46,242)
( 46,242)
---------
---------
At 5 April 2023
136,789
136,789
---------
---------
Carrying amount
At 5 April 2023
251,647
251,647
---------
---------
At 5 April 2022
236,783
236,783
---------
---------
6. Investments
Other investments other than loans
£
Cost
At 6 April 2022 and 5 April 2023
50
----
Impairment
At 6 April 2022 and 5 April 2023
----
Carrying amount
At 5 April 2023
50
----
At 5 April 2022
50
----
7. Debtors
2023
2022
£
£
Other debtors
384,300
749,909
---------
---------
8. Creditors: Amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
9,997
10,000
Trade creditors
118,994
61,347
Social security and other taxes
173,069
200,608
Other creditors
171,540
107,477
---------
---------
473,600
379,432
---------
---------
9. Creditors: Amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
21,670
31,667
Other creditors
153,529
195,452
---------
---------
175,199
227,119
---------
---------
10. Director's advances, credits and guarantees
The company operates a loan account with its director. At 5 April 2023 the director owed the company £nil (2022: £368,100). Beneficial loan interest of £1,092 (2022: £5,719) was charged during the year at the H M Revenue & Customs standard rate. No formal repayment terms are in place.