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Registration number: 13150661

Pro Set Carpentry Ltd

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 March 2023

 

Pro Set Carpentry Ltd

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 6

 

Pro Set Carpentry Ltd

Company Information

Director

C S Biggs

Company secretary

Mrs P Biggs

Registered office

39 Ash Road
Shepperton
Middlesex
TW17 0DW

Accountants

Ross + Partners
Chartered Certified Accountants
Suite 1B1 Argyle House
Northside
Joel Street
Northwood Hills
HA6 1NW

 

Pro Set Carpentry Ltd

(Registration number: 13150661)
Abridged Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

3

15,445

18,680

Current assets

 

Debtors

2,455

5,484

Cash at bank and in hand

 

46,981

58,609

 

49,436

64,093

Creditors: Amounts falling due within one year

(32,965)

(55,905)

Net current assets

 

16,471

8,188

Total assets less current liabilities

 

31,916

26,868

Provisions for liabilities

(2,935)

(3,549)

Net assets

 

28,981

23,319

Capital and reserves

 

Called up share capital

2

2

Retained earnings

28,979

23,317

Shareholders' funds

 

28,981

23,319

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

 

Pro Set Carpentry Ltd

(Registration number: 13150661)
Abridged Balance Sheet as at 31 March 2023

Approved and authorised by the director on 4 September 2023
 

.........................................
C S Biggs
Director

 

Pro Set Carpentry Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

 

Pro Set Carpentry Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% straight line

Vehicles

20% reducing balance

Furniture and fittings

25% reducing balance

Office equipment

25% straight line

2

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2022 - 2).

3

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Cost or valuation

At 1 April 2022

185

1,235

422

22,370

Additions

449

219

327

-

Disposals

-

-

(242)

-

At 31 March 2023

634

1,454

507

22,370

Depreciation

At 1 April 2022

4

285

24

5,219

Charge for the year

139

341

83

3,430

Eliminated on disposal

-

-

(5)

-

At 31 March 2023

143

626

102

8,649

Carrying amount

At 31 March 2023

491

828

405

13,721

At 31 March 2022

181

950

398

17,151

 

Pro Set Carpentry Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023

Total
£

Cost or valuation

At 1 April 2022

24,212

Additions

995

Disposals

(242)

At 31 March 2023

24,965

Depreciation

At 1 April 2022

5,532

Charge for the year

3,993

Eliminated on disposal

(5)

At 31 March 2023

9,520

Carrying amount

At 31 March 2023

15,445

At 31 March 2022

18,680

4

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2