Registered number
06209661
Mike Pagett Limited
Filleted Accounts
31 March 2023
Mike Pagett Limited
Registered number: 06209661
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 111,584 94,031
Current assets
Debtors 4 194,582 227,035
Cash at bank and in hand 2,668,794 2,399,546
2,863,376 2,626,581
Creditors: amounts falling due within one year 5 (226,142) (380,787)
Net current assets 2,637,234 2,245,794
Total assets less current liabilities 2,748,818 2,339,825
Creditors: amounts falling due after more than one year 6 (7,968) -
Net assets 2,740,850 2,339,825
Capital and reserves
Called up share capital 2 2
Profit and loss account 2,740,848 2,339,823
Shareholders' funds 2,740,850 2,339,825
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr M Pagett
Director
Approved by the board on 22 November 2023
Mike Pagett Limited
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor Vehicles 25% reducing balance
Plant and machinery 25% reducing balance
IT Equipment - within P&M total 20% reducing balance
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 8 6
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2022 110,548 183,309 293,857
Additions 1,290 57,500 58,790
Disposals - (20,172) (20,172)
At 31 March 2023 111,838 220,637 332,475
Depreciation
At 1 April 2022 92,149 107,677 199,826
Charge for the year 4,364 32,086 36,450
On disposals - (15,385) (15,385)
At 31 March 2023 96,513 124,378 220,891
Net book value
At 31 March 2023 15,325 96,259 111,584
At 31 March 2022 18,399 75,632 94,031
4 Debtors 2023 2022
£ £
Trade debtors 143,684 190,127
Other debtors 50,898 36,908
194,582 227,035
5 Creditors: amounts falling due within one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 8,011 2,941
Trade creditors 87,974 228,830
Taxation and social security costs 118,247 127,615
Other creditors 11,910 21,401
226,142 380,787
6 Creditors: amounts falling due after one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 7,968 -
7 Other information
Mike Pagett Limited is a private company limited by shares and incorporated in England. Its registered office is:
Beech House
8 Beech Close
Penton Harroway
Andover
SP11 0QY
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