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REGISTERED NUMBER: 03705559 (England and Wales)










Financial Statements

for the Year Ended 30 September 2022

for

P2 Internet Limited

P2 Internet Limited (Registered number: 03705559)






Contents of the Financial Statements
for the Year Ended 30 September 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


P2 Internet Limited

Company Information
for the Year Ended 30 September 2022







DIRECTORS: J S Doughty
R S Doughty





SECRETARY: J S Doughty





REGISTERED OFFICE: 20 Crewe Road
Sandbach
Cheshire
CW11 4NE





REGISTERED NUMBER: 03705559 (England and Wales)





ACCOUNTANTS: John Greenall & Co Limited
20 Crewe Road
Sandbach
Cheshire
CW11 4NE

P2 Internet Limited (Registered number: 03705559)

Balance Sheet
30 September 2022

30.9.22 30.9.21
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 11,500 11,500
Tangible assets 5 17,438 23,078
28,938 34,578

CURRENT ASSETS
Stocks 455,840 365,350
Debtors 6 2,451 6,390
Cash at bank 120 68
458,411 371,808
CREDITORS
Amounts falling due within one year 7 272,526 217,528
NET CURRENT ASSETS 185,885 154,280
TOTAL ASSETS LESS CURRENT
LIABILITIES

214,823

188,858

CREDITORS
Amounts falling due after more than one
year

8

(26,704

)

(30,300

)

PROVISIONS FOR LIABILITIES (3,275 ) (4,385 )
NET ASSETS 184,844 154,173

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 184,842 154,171
SHAREHOLDERS' FUNDS 184,844 154,173

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2022 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.

P2 Internet Limited (Registered number: 03705559)

Balance Sheet - continued
30 September 2022


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 12 October 2023 and were signed on its behalf by:





J S Doughty - Director


P2 Internet Limited (Registered number: 03705559)

Notes to the Financial Statements
for the Year Ended 30 September 2022

1. STATUTORY INFORMATION

P2 Internet 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.

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.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 1 (2021 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Patents
and
licences
£   
COST
At 1 October 2021
and 30 September 2022 11,500
NET BOOK VALUE
At 30 September 2022 11,500
At 30 September 2021 11,500

P2 Internet Limited (Registered number: 03705559)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2022

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 October 2021
and 30 September 2022 27,138 32,917 42,004 102,059
DEPRECIATION
At 1 October 2021 17,411 23,849 37,721 78,981
Charge for year 1,945 2,267 1,428 5,640
At 30 September 2022 19,356 26,116 39,149 84,621
NET BOOK VALUE
At 30 September 2022 7,782 6,801 2,855 17,438
At 30 September 2021 9,727 9,068 4,283 23,078

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.22 30.9.21
£    £   
Trade debtors - 6,390
Other debtors 2,451 -
2,451 6,390

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.22 30.9.21
£    £   
Bank loans and overdrafts 6,606 4,081
Trade creditors - 36
Amounts owed to group undertakings 9,880 3,421
Taxation and social security 24,233 9,240
Other creditors 231,807 200,750
272,526 217,528

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.22 30.9.21
£    £   
Bank loans 26,704 30,300