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REGISTERED NUMBER: 06125286 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

P.M. BINES LIMITED

P.M. BINES LIMITED (REGISTERED NUMBER: 06125286)






Contents of the Financial Statements
for the year ended 31 March 2023




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


P.M. BINES LIMITED

Company Information
for the year ended 31 March 2023







DIRECTOR: P M Bines





SECRETARY: D A Swift





REGISTERED OFFICE: 11 Laura Place
Bath
BA2 4BL





REGISTERED NUMBER: 06125286 (England and Wales)





ACCOUNTANTS: Richardson Swift
Chartered Accountants
11 Laura Place
Bath
BA2 4BL

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
P.M. Bines Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of P.M. Bines Limited for the year ended 31 March 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of P.M. Bines Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of P.M. Bines Limited and state those matters that we have agreed to state to the director of P.M. Bines Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than P.M. Bines Limited and its director for our work or for this report.

It is your duty to ensure that P.M. Bines Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of P.M. Bines Limited. You consider that P.M. Bines Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of P.M. Bines Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Richardson Swift
Chartered Accountants
11 Laura Place
Bath
BA2 4BL


7 November 2023

P.M. BINES LIMITED (REGISTERED NUMBER: 06125286)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 54,008 66,208
54,008 66,208

CURRENT ASSETS
Stocks 57,378 62,367
Debtors 6 10,126 25,088
Cash at bank 95,393 107,483
162,897 194,938
CREDITORS
Amounts falling due within one year 7 91,494 123,352
NET CURRENT ASSETS 71,403 71,586
TOTAL ASSETS LESS CURRENT
LIABILITIES

125,411

137,794

CREDITORS
Amounts falling due after more than one
year

8

(25,776

)

(37,331

)

PROVISIONS FOR LIABILITIES 9 (8,238 ) (10,427 )
NET ASSETS 91,397 90,036

CAPITAL AND RESERVES
Called up share capital 10 101 101
Retained earnings 91,296 89,935
SHAREHOLDERS' FUNDS 91,397 90,036

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

P.M. BINES LIMITED (REGISTERED NUMBER: 06125286)

Balance Sheet - continued
31 March 2023


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 director and authorised for issue on 1 November 2023 and were signed by:





P M Bines - Director


P.M. BINES LIMITED (REGISTERED NUMBER: 06125286)

Notes to the Financial Statements
for the year ended 31 March 2023

1. STATUTORY INFORMATION

P.M. Bines 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 represents net invoiced sales of goods and services, excluding value added tax, and is recognised when the goods or services are provided.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 10% on reducing balance
Motor vehicles - 25% on reducing balance

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

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors, loans from banks and other third parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


P.M. BINES LIMITED (REGISTERED NUMBER: 06125286)

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

2. ACCOUNTING POLICIES - continued
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.

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.

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.

Hire purchase contracts and finance leases
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.

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Government grants
Government grants are accounted for under the accruals method, with those in relation to expenditure credited when the expenditure is charged to the profit and loss

Critical judgements and estimates
No significant judgements or key assumptions have had to be made by the directors in preparing these financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 10 ) .

P.M. BINES LIMITED (REGISTERED NUMBER: 06125286)

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 200,000
AMORTISATION
At 1 April 2022
and 31 March 2023 200,000
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

5. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2022 135,755 69,755 205,510
Disposals (14,257 ) - (14,257 )
At 31 March 2023 121,498 69,755 191,253
DEPRECIATION
At 1 April 2022 79,787 59,515 139,302
Charge for year 5,147 2,560 7,707
Eliminated on disposal (9,764 ) - (9,764 )
At 31 March 2023 75,170 62,075 137,245
NET BOOK VALUE
At 31 March 2023 46,328 7,680 54,008
At 31 March 2022 55,968 10,240 66,208

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 4,576 16,668
Other debtors 5,550 8,420
10,126 25,088

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 9,870 9,626
Hire purchase contracts 1,686 2,890
Trade creditors 24,738 49,927
Taxation and social security 48,744 48,400
Other creditors 6,456 12,509
91,494 123,352

P.M. BINES LIMITED (REGISTERED NUMBER: 06125286)

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

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 25,776 35,645
Hire purchase contracts - 1,686
25,776 37,331

Included within bank loans is a government supported bounce back loan.

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 8,238 10,427

Deferred
tax
£   
Balance at 1 April 2022 10,427
Accelerated capital allowances (2,189 )
Balance at 31 March 2023 8,238

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
51 Ordinary A £1 51 51
49 Ordinary B £1 49 49
1 Ordinary C £1 1 1
101 101

All shares have full voting rights.

All shares are entitled to dividend payments at varying rates applicable to that class of share.

All share holders are entitled pari passu to participate in a distribution arising from a winding up the company.

11. OPERATING LEASE COMMITMENTS

At the year end the company had total commitments under non-cancellable operating leases of £209,157 (2022: £226,587)