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REGISTERED NUMBER: 11179562 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH JUNE 2023

FOR

PKW NG LIMITED

PKW NG LIMITED (REGISTERED NUMBER: 11179562)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PKW NG LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH JUNE 2023







DIRECTORS: K W Ng
Mrs L J Ng





REGISTERED OFFICE: Sutherland House
1759 London Road
Leigh on Sea
Essex
SS9 2RZ





REGISTERED NUMBER: 11179562 (England and Wales)





ACCOUNTANTS: Platt Rushton LLP
Chartered Accountants
Sutherland House
1759 London Road
Leigh on Sea
Essex
SS9 2RZ

PKW NG LIMITED (REGISTERED NUMBER: 11179562)

BALANCE SHEET
30TH JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 350,000 360,000
Tangible assets 5 25,686 29,311
375,686 389,311

CURRENT ASSETS
Stocks 29,835 31,405
Debtors 6 82,065 60,035
Cash at bank and in hand 109,268 154,737
221,168 246,177
CREDITORS
Amounts falling due within one year 7 233,502 246,843
NET CURRENT LIABILITIES (12,334 ) (666 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

363,352

388,645

CREDITORS
Amounts falling due after more than one year 8 (318,643 ) (333,169 )

PROVISIONS FOR LIABILITIES 11 (3,454 ) (3,088 )
NET ASSETS 41,255 52,388

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 41,245 52,378
SHAREHOLDERS' FUNDS 41,255 52,388

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

PKW NG LIMITED (REGISTERED NUMBER: 11179562)

BALANCE SHEET - continued
30TH JUNE 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 Board of Directors and authorised for issue on 9th November 2023 and were signed on its behalf by:





Mrs L J Ng - Director


PKW NG LIMITED (REGISTERED NUMBER: 11179562)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2023

1. STATUTORY INFORMATION

PKW NG 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of fifteen years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 15% 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.

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.

PKW NG LIMITED (REGISTERED NUMBER: 11179562)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2023

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st July 2022
and 30th June 2023 400,000
AMORTISATION
At 1st July 2022 40,000
Charge for year 10,000
At 30th June 2023 50,000
NET BOOK VALUE
At 30th June 2023 350,000
At 30th June 2022 360,000

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st July 2022
and 30th June 2023 47,445
DEPRECIATION
At 1st July 2022 18,134
Charge for year 3,625
At 30th June 2023 21,759
NET BOOK VALUE
At 30th June 2023 25,686
At 30th June 2022 29,311

PKW NG LIMITED (REGISTERED NUMBER: 11179562)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 64,945 45,443
Other debtors 17,120 14,592
82,065 60,035

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 18,583 20,386
Trade creditors 115,391 122,381
Taxation and social security 18,595 22,465
Other creditors 80,933 81,611
233,502 246,843

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 227,243 241,769
Other creditors 91,400 91,400
318,643 333,169

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr 137,321 151,047

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 30,230 20,000
Between one and five years 97,900 80,000
In more than five years 100,000 120,000
228,130 220,000

PKW NG LIMITED (REGISTERED NUMBER: 11179562)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2023

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 245,826 262,155

The bank loan is secured by way of fixed and floating charges over the assets of the company.

11. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 3,454 3,088

Deferred
tax
£   
Balance at 1st July 2022 3,088
Provided during year 366
Balance at 30th June 2023 3,454

12. RELATED PARTY DISCLOSURES

Included within other creditors, amounts falling due within one year, are loans from the directors totalling £79,889 (2022: £78,889). The loans are interest free and repayable on demand.

Included within other creditors, amounts falling due after more than one year, is a loan from a family member totalling £91,400 (2022: £91,400) with no set repayment terms.