1 August 2022 false No description of principal activity Taxfiler 2023.10 09143653business:PrivateLimitedCompanyLtd2022-08-012023-07-31 091436532022-07-31 091436532022-08-012023-07-31 09143653business:AuditExemptWithAccountantsReport2022-08-012023-07-31 09143653business:FilletedAccounts2022-08-012023-07-31 091436532023-07-31 09143653business:Director12022-08-012023-07-31 09143653business:Director22022-08-012023-07-31 09143653business:CompanySecretary12022-08-012023-07-31 09143653business:RegisteredOffice2022-08-012023-07-31 091436532022-07-31 09143653core:WithinOneYear2023-07-31 09143653core:WithinOneYear2022-07-31 09143653core:AfterOneYear2023-07-31 09143653core:AfterOneYear2022-07-31 09143653core:ShareCapitalcore:PreviouslyStatedAmount2023-07-31 09143653core:ShareCapitalcore:PreviouslyStatedAmount2022-07-31 09143653core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-07-31 09143653core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-07-31 09143653core:PreviouslyStatedAmount2023-07-31 09143653core:PreviouslyStatedAmount2022-07-31 09143653business:SmallEntities2022-08-012023-07-31 09143653countries:EnglandWales2022-08-012023-07-31 09143653core:FurnitureFittings2022-08-012023-07-31 09143653core:ComputerEquipment2022-08-012023-07-31 09143653core:FurnitureFittings2022-07-31 09143653core:ComputerEquipment2022-07-31 09143653core:FurnitureFittings2023-07-31 09143653core:ComputerEquipment2023-07-31 091436532021-08-012022-07-31 iso4217:GBP xbrli:pure
Company Registration No. 09143653 (England and Wales)
PETER REID MORTGAGE SOLUTIONS LTD Unaudited accounts for the year ended 31 July 2023
PETER REID MORTGAGE SOLUTIONS LTD Unaudited accounts Contents
Page
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PETER REID MORTGAGE SOLUTIONS LTD Company Information for the year ended 31 July 2023
Directors
Mr P Reid Mrs A Reid
Secretary
Mrs A Reid
Company Number
09143653 (England and Wales)
Registered Office
3 MANOR FARM CRESCENT BRADLEY STOKE BRISTOL SOUTH GLOUCESTERSHIRE BS32 9AW ENGLAND
Accountants
Streets Steele Limited Orion House, Axis 4/5 Woodlands, Bradley Stoke Bristol BS32 4JT
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PETER REID MORTGAGE SOLUTIONS LTD Statement of financial position as at 31 July 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
994 
1,912 
Current assets
Debtors
- 
4,904 
Cash at bank and in hand
4,459 
12,708 
4,459 
17,612 
Creditors: amounts falling due within one year
7,522 
(4,319)
Net current assets
11,981 
13,293 
Total assets less current liabilities
12,975 
15,205 
Creditors: amounts falling due after more than one year
(12,963)
(15,185)
Net assets
12 
20 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
10 
18 
Shareholders' funds
12 
20 
For the year ending 31 July 2023 the company was entitled to exemption from audit 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 6 November 2023 and were signed on its behalf by
Mr P Reid Director Company Registration No. 09143653
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PETER REID MORTGAGE SOLUTIONS LTD Notes to the Accounts for the year ended 31 July 2023
1
Statutory information
PETER REID MORTGAGE SOLUTIONS LTD is a private company, limited by shares, registered in England and Wales, registration number 09143653. The registered office is 3 MANOR FARM CRESCENT, BRADLEY STOKE, BRISTOL, SOUTH GLOUCESTERSHIRE, BS32 9AW, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% straight line
Computer equipment
33% straight line
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
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PETER REID MORTGAGE SOLUTIONS LTD Notes to the Accounts for the year ended 31 July 2023
4
Tangible fixed assets
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 August 2022
595 
3,456 
4,051 
At 31 July 2023
595 
3,456 
4,051 
Depreciation
At 1 August 2022
595 
1,544 
2,139 
Charge for the year
- 
918 
918 
At 31 July 2023
595 
2,462 
3,057 
Net book value
At 31 July 2023
- 
994 
994 
At 31 July 2022
- 
1,912 
1,912 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Accrued income and prepayments
- 
4,904 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
2,222 
2,222 
Taxes and social security
15,290 
15,028 
Other creditors
- 
29 
Loans from directors
(25,034)
(12,960)
(7,522)
4,319 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
12,963 
15,185 
8
Transactions with related parties
At the balance sheet date the director owed the company £25,034 (2022: £12,960). The loan is unsecured, interest free and repayable on demand.
9
Average number of employees
During the year the average number of employees was 1 (2022: 1).
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