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Pacific Joinery Limited

Financial Statements for the Year Ended 28 February 2023






Pacific Joinery Limited

Company Information
for the Year Ended 28 February 2023







DIRECTOR: I M Ridge





REGISTERED OFFICE: 21 Hill Lawn
Brislington
Bristol
BS4 4PH





REGISTERED NUMBER: 08401316 (England and Wales)





ACCOUNTANTS: BPU Limited
Chartered Accountants
Radnor House
Greenwood Close
Cardiff Gate Business Park
Cardiff
CF23 8AA

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Pacific Joinery 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 Pacific Joinery Limited for the year ended 28 February 2023 which comprise the Profit and Loss account, Balance Sheet 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 Pacific Joinery Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Pacific Joinery Limited and state those matters that we have agreed to state to the director of Pacific Joinery 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 Pacific Joinery Limited and its director for our work or for this report.

It is your duty to ensure that Pacific Joinery 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 Pacific Joinery Limited. You consider that Pacific Joinery 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 Pacific Joinery 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.






BPU Limited
Chartered Accountants


6 November 2023

Pacific Joinery Limited (Registered number: 08401316)

Balance Sheet
28 February 2023

2023 2022
Notes £    £   
CURRENT ASSETS
Debtors 4 13,177 20,752
Cash at bank 5,360 4,521
18,537 25,273
CREDITORS
Amounts falling due within one year 5 11,676 12,402
NET CURRENT ASSETS 6,861 12,871
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,861

12,871

CREDITORS
Amounts falling due after more than
one year

6

6,517

12,889
NET ASSETS/(LIABILITIES) 344 (18 )

CAPITAL AND RESERVES
Called up share capital 20 20
Retained earnings 324 (38 )
SHAREHOLDERS' FUNDS 344 (18 )

Pacific Joinery Limited (Registered number: 08401316)

Balance Sheet - continued
28 February 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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.

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 Profit and Loss account has not been delivered.

The financial statements were approved by the director and authorised for issue on 6 November 2023 and were signed by:





I M Ridge - Director


Pacific Joinery Limited (Registered number: 08401316)

Notes to the Financial Statements
for the Year Ended 28 February 2023


1. 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, excluding value added tax in relation to the provision of joinery installation.

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.
Motor vehicles - 25% straight line

Hire purchase and leasing commitments
Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives.

The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.

Rentals paid under operating leases are charged to income on a straight line basis over the lease term.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

Pacific Joinery Limited (Registered number: 08401316)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023


3. TANGIBLE FIXED ASSETS
Motor
vehicles
£   
COST
At 1 March 2022 20,245
Disposals (20,245 )
At 28 February 2023 -
DEPRECIATION
At 1 March 2022 20,245
Eliminated on disposal (20,245 )
At 28 February 2023 -
NET BOOK VALUE
At 28 February 2023 -
At 28 February 2022 -


4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 2,475
Amounts recoverable on contract 1,900 1,841
Other debtors & prepayments 11,277 16,436
13,177 20,752

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 2,781 3,372
Hire purchase contracts - 3,360
Taxes & social security costs 5,151 2,716
Other creditors & accruals 3,744 2,954
11,676 12,402

Pacific Joinery Limited (Registered number: 08401316)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023


6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans 6,517 9,298
Hire purchase contracts - 3,591
6,517 12,889

7. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 28 February 2023 and 28 February 2022:

2023 2022
£    £   
I M Ridge
Balance outstanding at start of year 16,217 13,437
Amounts advanced 19,629 18,001
Amounts repaid (29,669 ) (15,221 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 6,177 16,217