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
PETER REID MORTGAGE SOLUTIONS LTD
Company Information
for the year ended 31 July 2023
Directors
Mr P Reid
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
PETER REID MORTGAGE SOLUTIONS LTD
Statement of financial position
as at 31 July 2023
Cash at bank and in hand
4,459
12,708
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)
Called up share capital
2
2
Profit and loss account
10
18
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
PETER REID MORTGAGE SOLUTIONS LTD
Notes to the Accounts
for the year ended 31 July 2023
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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
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.
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
At 1 August 2022
595
1,544
2,139
Charge for the year
-
918
918
At 31 July 2023
595
2,462
3,057
At 31 July 2022
-
1,912
1,912
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
Loans from directors
(25,034)
(12,960)
7
Creditors: amounts falling due after more than one year
2023
2022
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).