PIEDRO LTD

Company Registration Number:
04354646 (England and Wales)

Unaudited abridged accounts for the year ended 31 December 2022

Period of accounts

Start date: 01 January 2022

End date: 31 December 2022

PIEDRO LTD

Contents of the Financial Statements

for the Period Ended 31 December 2022

Balance sheet
Notes

PIEDRO LTD

Balance sheet

As at 31 December 2022


Notes

2022

2021


£

£
Fixed assets
Intangible assets: 3 224,775 324,675
Tangible assets: 4 5,473 7,896
Investments: 5 2 2
Total fixed assets: 230,250 332,573
Current assets
Debtors: 6 227,582 222,799
Cash at bank and in hand: 45,983 9,579
Total current assets: 273,565 232,378
Creditors: amounts falling due within one year: 7 (1,556,214) (1,591,913)
Net current assets (liabilities): (1,282,649) (1,359,535)
Total assets less current liabilities: (1,052,399) (1,026,962)
Total net assets (liabilities): (1,052,399) (1,026,962)
Capital and reserves
Called up share capital: 1,000 1,000
Profit and loss account: (1,053,399) (1,027,962)
Shareholders funds: (1,052,399) (1,026,962)

The notes form part of these financial statements

PIEDRO LTD

Balance sheet statements

For the year ending 31 December 2022 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 03 October 2023
and signed on behalf of the board by:

Name: John Meadows
Status: Director

The notes form part of these financial statements

PIEDRO LTD

Notes to the Financial Statements

for the Period Ended 31 December 2022

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

PIEDRO LTD

Notes to the Financial Statements

for the Period Ended 31 December 2022

2. Employees

2022 2021
Average number of employees during the period 1 2

PIEDRO LTD

Notes to the Financial Statements

for the Period Ended 31 December 2022

3. Intangible Assets

Total
Cost £
At 01 January 2022 999,000
At 31 December 2022 999,000
Amortisation
At 01 January 2022 674,325
Charge for year 99,900
At 31 December 2022 774,225
Net book value
At 31 December 2022 224,775
At 31 December 2021 324,675

PIEDRO LTD

Notes to the Financial Statements

for the Period Ended 31 December 2022

4. Tangible Assets

Total
Cost £
At 01 January 2022 92,129
At 31 December 2022 92,129
Depreciation
At 01 January 2022 84,233
Charge for year 2,423
At 31 December 2022 86,656
Net book value
At 31 December 2022 5,473
At 31 December 2021 7,896

PIEDRO LTD

Notes to the Financial Statements

for the Period Ended 31 December 2022

5. Fixed investments

The company holds an investment of £2 (2021: £2) represented by the nominal share value of the two dominant companies it holds.

PIEDRO LTD

Notes to the Financial Statements

for the Period Ended 31 December 2022

6. Debtors

2022 2021
££
Debtors due after more than one year: 0 0

PIEDRO LTD

Notes to the Financial Statements

for the Period Ended 31 December 2022

7. Creditors: amounts falling due within one year note

-Advances on invoice financing £1,781 (2021: £101,064), -Trade Creditors £1,567,491 (2021: £1,482,807), -Owed [from] to group undertakings £[£8,367] (2021: £13,367), -Taxes and social security costs: (£9.563) (2021: £12,754), -Other Creditors: £4,872 (2021: £7,429),

PIEDRO LTD

Notes to the Financial Statements

for the Period Ended 31 December 2022

8. Financial commitments

The creditors include secured bank loans of £1,781 (2021: £101,064). The amount owed to the bank is in respect of invoice financing and is secured on the company's trade debtors.

PIEDRO LTD

Notes to the Financial Statements

for the Period Ended 31 December 2022

9. Related party transactions

Name of the related party: Piedro BV
Relationship:
Owner
Description of the Transaction: -Piedro BV, a company based in the Netherlands that controls Gilbert & Mellish Limited, the parent company of Piedro Limited, has transacted with the company through various cross charges and owes £8,367 (2021, was owed £13,367). Piedro BV also supplies orthotic products to the company and is owed £1,567,491 (2021: £1,482,807).-All transactions were at arm's length and no interest has been charged in respect of these balances.
£
Balance at 01 January 2022 1,482,807
Balance at 31 December 2022 1,567,491