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COMPANY REGISTRATION NUMBER: 11936374
Pro Detail Valeting & Detailing Limited
Filleted Unaudited Financial Statements
30 April 2023
Pro Detail Valeting & Detailing Limited
Financial Statements
Year ended 30 April 2023
Contents
Pages
Officers and professional advisers
1
Statement of financial position
2 to 3
Notes to the financial statements
4 to 6
Pro Detail Valeting & Detailing Limited
Officers and Professional Advisers
The board of directors Mr A Barson
- Director
Miss R L Hill
- Director
Registered office
213 Huthwaite Road
Sutton in Ashfield
Nottinghamshire
NG17 2HD
Accountants
Gregory Priestley & Stewart
Chartered Accountants
Alexandra House
123 Priestsic Road
Sutton in Ashfield
Nottinghamshire
NG17 4EA
Pro Detail Valeting & Detailing Limited
Statement of Financial Position
30 April 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
2,795
3,495
Current assets
Stocks
10,500
1,950
Debtors
6
1,770
1,170
Cash at bank and in hand
31
--------
-------
12,270
3,151
Creditors: amounts falling due within one year
7
9,675
10,322
--------
--------
Net current assets/(liabilities)
2,595
( 7,171)
-------
-------
Total assets less current liabilities
5,390
( 3,676)
Provisions
531
-------
-------
Net assets/(liabilities)
4,859
( 3,676)
-------
-------
Capital and reserves
Called up share capital
1
1
Profit and loss account
4,858
( 3,677)
-------
-------
Shareholders funds/(deficit)
4,859
( 3,676)
-------
-------
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 statement of income and retained earnings has not been delivered.
For the year ending 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Pro Detail Valeting & Detailing Limited
Statement of Financial Position (continued)
30 April 2023
These financial statements were approved by the board of directors and authorised for issue on 29 September 2023 , and are signed on behalf of the board by:
Mr A Barson
Director
Company registration number: 11936374
Pro Detail Valeting & Detailing Limited
Notes to the Financial Statements
Year ended 30 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 213 Huthwaite Road, Sutton in Ashfield, Nottinghamshire, NG17 2HD.
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. 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 and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
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.
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 machinery
-
20% reducing balance
Motor vehicles
-
20% reducing balance
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.
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.
Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties.
Debtors and creditors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Tangible assets
Plant and machinery
Motor vehicles
Total
£
£
£
Cost
At 1 May 2022 and 30 April 2023
2,160
4,300
6,460
-------
-------
-------
Depreciation
At 1 May 2022
867
2,098
2,965
Charge for the year
259
441
700
-------
-------
-------
At 30 April 2023
1,126
2,539
3,665
-------
-------
-------
Carrying amount
At 30 April 2023
1,034
1,761
2,795
-------
-------
-------
At 30 April 2022
1,293
2,202
3,495
-------
-------
-------
6. Debtors
2023
2022
£
£
Other debtors
1,770
1,170
-------
-------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
894
Other creditors
8,781
10,322
-------
--------
9,675
10,322
-------
--------
8. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr A Barson
( 9,122)
62,888
( 61,347)
( 7,581)
-------
--------
--------
-------
2022
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr A Barson
( 15,400)
30,225
( 23,947)
( 9,122)
--------
--------
--------
-------
Interest free and repayable on demand.