PETER GREGSON LIMITED

Company Registration Number:
SC350686 (Scotland)

Unaudited statutory accounts for the year ended 31 October 2022

Period of accounts

Start date: 1 November 2021

End date: 31 October 2022

PETER GREGSON LIMITED

Contents of the Financial Statements

for the Period Ended 31 October 2022

Balance sheet
Additional notes
Balance sheet notes

PETER GREGSON LIMITED

Balance sheet

As at 31 October 2022

Notes 2022 2021


£

£
Fixed assets
Tangible assets: 3 34,834 36,682
Total fixed assets: 34,834 36,682
Current assets
Debtors: 4 53,200 26,529
Cash at bank and in hand: 46,927 52,689
Total current assets: 100,127 79,218
Creditors: amounts falling due within one year: 5 ( 100,944 ) ( 69,096 )
Net current assets (liabilities): (817) 10,122
Total assets less current liabilities: 34,017 46,804
Creditors: amounts falling due after more than one year: 6 ( 10,416 ) ( 12,569 )
Total net assets (liabilities): 23,601 34,235
Capital and reserves
Called up share capital: 2 2
Profit and loss account: 23,599 34,233
Total Shareholders' funds: 23,601 34,235

The notes form part of these financial statements

PETER GREGSON LIMITED

Balance sheet statements

For the year ending 31 October 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.

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

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

This report was approved by the board of directors on 19 October 2023
and signed on behalf of the board by:

Name: P Gregson
Status: Director

The notes form part of these financial statements

PETER GREGSON LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2022

  • 1. Accounting policies

    Basis of measurement and preparation

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

    Turnover policy

    Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:Plant and equipment 33% straight lineMotor vehicles 25% reducing balance methodThe gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

    Other accounting policies

    Financial instrumentsThe company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’.Basic financial assetsBasic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction.Classification of financial liabilitiesFinancial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into.Basic financial liabilitiesBasic financial liabilities are initially recognised at transaction price unless the arrangement constitutes afinancing transaction.TaxationThe tax expense represents the sum of the tax currently payable and deferred tax.Current taxThe tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.Foreign exchangeTransactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

PETER GREGSON LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2022

  • 2. Employees

    2022 2021
    Average number of employees during the period 2 2

PETER GREGSON LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2022

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 November 2021 116,611 116,611
Additions 26,128 26,128
Disposals
Revaluations
Transfers
At 31 October 2022 142,739 142,739
Depreciation
At 1 November 2021 79,929 79,929
Charge for year 27,976 27,976
On disposals
Other adjustments
At 31 October 2022 107,905 107,905
Net book value
At 31 October 2022 34,834 34,834
At 31 October 2021 36,682 36,682

PETER GREGSON LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2022

4. Debtors

2022 2021
£ £
Trade debtors 28,753 2,705
Other debtors 24,447 23,824
Total 53,200 26,529

PETER GREGSON LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2022

5. Creditors: amounts falling due within one year note

2022 2021
£ £
Trade creditors 29,149 4
Taxation and social security 33,769 21,299
Other creditors 38,026 47,793
Total 100,944 69,096

PETER GREGSON LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2022

6. Creditors: amounts falling due after more than one year note

2022 2021
£ £
Other creditors 10,416 12,569
Total 10,416 12,569