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COMPANY REGISTRATION NUMBER: 11183192
PETE MASON CONSULTING LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
28 February 2023
PETE MASON CONSULTING LIMITED
STATEMENT OF FINANCIAL POSITION
28 February 2023
2023
2022
Note
£
£
£
£
FIXED ASSETS
Tangible assets
5
233
1,385
CURRENT ASSETS
Debtors
6
4,369
521
Cash at bank and in hand
287,751
346,556
---------
---------
292,120
347,077
CREDITORS: amounts falling due within one year
7
30,957
33,336
---------
---------
NET CURRENT ASSETS
261,163
313,741
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
261,396
315,126
---------
---------
NET ASSETS
261,396
315,126
---------
---------
CAPITAL AND RESERVES
Called up share capital
8
100
100
Profit and loss account
261,296
315,026
---------
---------
SHAREHOLDERS FUNDS
261,396
315,126
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
PETE MASON CONSULTING LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
28 February 2023
These financial statements were approved by the board of directors and authorised for issue on 13 July 2023 , and are signed on behalf of the board by:
P F Mason
Director
Company registration number: 11183192
PETE MASON CONSULTING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
Year ended 28 February 2023
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 213 Newcastle Road, Stone, ST15 8LF, United Kingdom.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and equipment
-
25% straight line
Office equipment
-
33% straight line
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. TANGIBLE ASSETS
Plant and equipment
Office equipment
Total
£
£
£
Cost
At 1 March 2022 and 28 February 2023
469
8,204
8,673
----
-------
-------
Depreciation
At 1 March 2022
469
6,819
7,288
Charge for the year
1,152
1,152
----
-------
-------
At 28 February 2023
469
7,971
8,440
----
-------
-------
Carrying amount
At 28 February 2023
233
233
----
-------
-------
At 28 February 2022
1,385
1,385
----
-------
-------
6. DEBTORS
2023
2022
£
£
Trade debtors
210
Other debtors
4,159
521
-------
----
4,369
521
-------
----
7. CREDITORS: amounts falling due within one year
2023
2022
£
£
Corporation tax
22,512
Social security and other taxes
99
300
Other creditors
30,858
10,524
--------
--------
30,957
33,336
--------
--------
8. CALLED UP SHARE CAPITAL
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
----
----
----
----
9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
P F Mason
----
----
----
----
2022
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
P F Mason
119,880
( 119,880)
----
---------
---------
----
A short term loan was made to a director during the previous year. Interest was charged on the loan at HM Revenue & Customs' official beneficial loan rate and the loan was repayable on demand.