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REGISTERED NUMBER: 09029350 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2022

for

P & M Systems Ltd

P & M Systems Ltd (Registered number: 09029350)






Contents of the Financial Statements
for the Year Ended 31 May 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


P & M Systems Ltd

Company Information
for the Year Ended 31 May 2022







DIRECTOR: Mr M C Applin





REGISTERED OFFICE: 28 Queens Road
North Weald
Epping
CM16 6JE





REGISTERED NUMBER: 09029350 (England and Wales)





ACCOUNTANTS: E Johnson & Associates
Chartered Certified Accountants
637 Green Lanes
London
N8 0RE

P & M Systems Ltd (Registered number: 09029350)

Balance Sheet
31 May 2022

31.5.22 31.5.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,184 2,912

CURRENT ASSETS
Debtors 5 70,416 53,380
Cash at bank and in hand 3,011 27,184
73,427 80,564
CREDITORS
Amounts falling due within one
year

6

77,540

49,298
NET CURRENT (LIABILITIES)/ASSETS (4,113 ) 31,266
TOTAL ASSETS LESS CURRENT
LIABILITIES

(1,929

)

34,178

CREDITORS
Amounts falling due after more
than one year

7

19,500

32,500
NET (LIABILITIES)/ASSETS (21,429 ) 1,678

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 9 (21,529 ) 1,578
SHAREHOLDERS' FUNDS (21,429 ) 1,678

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2022 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 Systems Ltd (Registered number: 09029350)

Balance Sheet - continued
31 May 2022


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 22 November 2023 and were signed by:





Mr M C Applin - Director


P & M Systems Ltd (Registered number: 09029350)

Notes to the Financial Statements
for the Year Ended 31 May 2022

1. STATUTORY INFORMATION

P & M Systems Ltd 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
The financial statements have been prepared on the going concern basis. This assumes that the company will continue in operational existence for the foreseeable future.
At the balance sheet date, the company's liabilities for the period from 1 June 2021 to 31 May 2022 exceed its assets. The director of the company has sought assurance from the creditors that their debts will not be called in within the next twelve months.
The director has been therefore deemed it appropriate that the financial statements be prepared on the going concern basis.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 25% on reducing balance

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2021 - 1 ) .

P & M Systems Ltd (Registered number: 09029350)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2022

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 June 2021
and 31 May 2022 9,366
DEPRECIATION
At 1 June 2021 6,454
Charge for year 728
At 31 May 2022 7,182
NET BOOK VALUE
At 31 May 2022 2,184
At 31 May 2021 2,912

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.22 31.5.21
£    £   
Trade debtors 6,736 -
Other debtors 63,680 53,380
70,416 53,380

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.22 31.5.21
£    £   
Bank loans and overdrafts 6,500 -
Trade creditors 16,054 4,354
Taxation and social security 54,499 44,235
Other creditors 487 709
77,540 49,298

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.22 31.5.21
£    £   
Bank loans 19,500 32,500

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.22 31.5.21
value: £    £   
100 Ordinary £1 100 100

9. RESERVES
Retained
earnings
£   

At 1 June 2021 1,578
Deficit for the year (23,107 )
At 31 May 2022 (21,529 )

P & M Systems Ltd (Registered number: 09029350)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2022

10. RELATED PARTY DISCLOSURES

During the year, no dividend was paid to the director.

11. ULTIMATE CONTROLLING PARTY

The controlling party is Mr M C Applin.

By virtue of being the sole director of the company and controls 100% of the ordinary share capital of the company.