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REGISTERED NUMBER: 03312954 (England and Wales)















Unaudited Financial Statements for the Year Ended 31st January 2023

for

Pinnell & Bax Limited

Pinnell & Bax Limited (Registered number: 03312954)






Contents of the Financial Statements
for the year ended 31st January 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Pinnell & Bax Limited

Company Information
for the year ended 31st January 2023







DIRECTORS: I D Pinnell
D J Wade





SECRETARY:





REGISTERED OFFICE: Heathfield Way
Kingsheath
Northampton
NN5 7QP





REGISTERED NUMBER: 03312954 (England and Wales)





ACCOUNTANTS: B.R. Bamford Chartered Accountant
6-7 Moulton Road
Pitsford
Northampton
Northamptonshire
NN6 9AU

Pinnell & Bax Limited (Registered number: 03312954)

Balance Sheet
31st January 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 14,496 19,328
Tangible assets 5 117,304 26,019
131,800 45,347

CURRENT ASSETS
Stocks 428,950 358,653
Debtors 6 26,832 110,936
Cash at bank and in hand 19,747 34,338
475,529 503,927
CREDITORS
Amounts falling due within one year 7 429,028 358,512
NET CURRENT ASSETS 46,501 145,415
TOTAL ASSETS LESS CURRENT
LIABILITIES

178,301

190,762

CREDITORS
Amounts falling due after more than one
year

8

(23,333

)

(33,333

)

PROVISIONS FOR LIABILITIES (4,944 ) (4,944 )
NET ASSETS 150,024 152,485

Pinnell & Bax Limited (Registered number: 03312954)

Balance Sheet - continued
31st January 2023

2023 2022
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 1,020 1,020
Share premium 956 956
Retained earnings 148,048 150,509
SHAREHOLDERS' FUNDS 150,024 152,485

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

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

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 13th September 2023 and were signed on its behalf by:





I D Pinnell - Director


Pinnell & Bax Limited (Registered number: 03312954)

Notes to the Financial Statements
for the year ended 31st January 2023

1. STATUTORY INFORMATION

Pinnell & Bax 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.

Computer software is being amortised evenly over its 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance and 10% on cost

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

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.


Pinnell & Bax Limited (Registered number: 03312954)

Notes to the Financial Statements - continued
for the year ended 31st January 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 17 (2022 - 17 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1st February 2022
and 31st January 2023 25,770
AMORTISATION
At 1st February 2022 6,442
Charge for year 4,832
At 31st January 2023 11,274
NET BOOK VALUE
At 31st January 2023 14,496
At 31st January 2022 19,328

Pinnell & Bax Limited (Registered number: 03312954)

Notes to the Financial Statements - continued
for the year ended 31st January 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st February 2022 155,628
Additions 130,387
At 31st January 2023 286,015
DEPRECIATION
At 1st February 2022 129,609
Charge for year 39,102
At 31st January 2023 168,711
NET BOOK VALUE
At 31st January 2023 117,304
At 31st January 2022 26,019

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1st February 2022 33,015
Transfer to ownership (33,015 )
At 31st January 2023 -
DEPRECIATION
At 1st February 2022 22,569
Transfer to ownership (22,569 )
At 31st January 2023 -
NET BOOK VALUE
At 31st January 2023 -
At 31st January 2022 10,446

Pinnell & Bax Limited (Registered number: 03312954)

Notes to the Financial Statements - continued
for the year ended 31st January 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 6,464
Other debtors 26,832 104,472
26,832 110,936

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 245 955
Trade creditors 248,558 219,347
Taxation and social security 13,170 13,504
Other creditors 157,055 114,706
429,028 358,512

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans 23,333 33,333