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COMPANY REGISTRATION NUMBER: 12147545
PEARSON ESTATES (WEST YORKSHIRE) LTD
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 August 2023
PEARSON ESTATES (WEST YORKSHIRE) LTD
STATEMENT OF FINANCIAL POSITION
31 August 2023
2023
2022
Note
£
£
£
£
CURRENT ASSETS
Stocks
799,006
729,381
Cash at bank and in hand
8,094
9,043
-----------
-----------
807,100
738,424
CREDITORS: amounts falling due within one year
4
836,317
748,683
-----------
-----------
NET CURRENT LIABILITIES
29,217
10,259
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
( 29,217)
( 10,259)
CREDITORS: amounts falling due after more than one year
5
17,500
27,500
---------
---------
NET LIABILITIES
( 46,717)
( 37,759)
---------
---------
PEARSON ESTATES (WEST YORKSHIRE) LTD
STATEMENT OF FINANCIAL POSITION (continued)
31 August 2023
2023
2022
Note
£
£
£
£
CAPITAL AND RESERVES
Called up share capital
2
2
Profit and loss account
( 46,719)
( 37,761)
---------
---------
SHAREHOLDERS DEFICIT
( 46,717)
( 37,759)
---------
---------
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 31 August 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 .
These financial statements were approved by the board of directors and authorised for issue on 28 November 2023 , and are signed on behalf of the board by:
A R Pearson
Director
Company registration number: 12147545
PEARSON ESTATES (WEST YORKSHIRE) LTD
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 AUGUST 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 Equitable House, 55 Pellon Lane, Halifax, West Yorkshire, HX1 5SP.
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.
Going concern
The Company has received assurances from certain creditors that they will not pursue payment of their debt until the company has sufficient net assets to cover the amount due. On this basis the financial statements have been drawn up on a going concern basis.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
4. CREDITORS: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
10,000
9,999
Other creditors
826,317
738,684
-----------
-----------
836,317
748,683
-----------
-----------
5. CREDITORS: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
17,500
27,500
---------
---------
6. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES
During the year the directors' had unsecured interest bearing loans with the company. The directors' loan accounts were in credit throughout the year and are repayable on demand.
7. RELATED PARTY TRANSACTIONS
At the year end the company owed A R P Security Services Ltd, a company under the control of the directors, £101,000. This loan was unsecured, interest free and repayable on demand.