Registered number
05883787
Pride Management Service Limited
Filleted Accounts
31 March 2023
Pride Management Service Limited
Registered number: 05883787
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 30,027 30,057
Current assets
Debtors 4 813,377 856,393
Cash at bank and in hand 720,530 261,692
1,533,907 1,118,085
Creditors: amounts falling due within one year 5 (607,243) (583,763)
Net current assets 926,664 534,322
Net assets 956,691 564,379
Capital and reserves
Called up share capital 100 100
Profit and loss account 956,591 564,279
Shareholders' funds 956,691 564,379
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. Tuhin Srivastava
Director
Approved by the board on 22 December 2023
Pride Management Service 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:
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 220 220
3 Tangible fixed assets
Motor vehicles
£
Cost
At 1 April 2022 60,117
Additions 10,247
At 31 March 2023 70,364
Depreciation
At 1 April 2022 30,060
Charge for the year 10,277
At 31 March 2023 40,337
Net book value
At 31 March 2023 30,027
At 31 March 2022 30,057
4 Debtors 2023 2022
£ £
Trade debtors 813,377 856,393
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 10,659 11,220
Taxation and social security costs 294,045 302,740
Other creditors 302,539 269,803
607,243 583,763
6 Other information
Pride Management Service Limited is a private company limited by shares and incorporated in England. Its registered office is:
Suite 50a Windmill Centre
Windmill Lane
Southall
Middlesex
UB2 4NJ
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