P.N.W. DESIGN LIMITED

Company Registration Number:
01920422 (England and Wales)

Unaudited abridged accounts for the year ended 30 June 2023

Period of accounts

Start date: 01 July 2022

End date: 30 June 2023

P.N.W. DESIGN LIMITED

Contents of the Financial Statements

for the Period Ended 30 June 2023

Balance sheet
Notes

P.N.W. DESIGN LIMITED

Balance sheet

As at 30 June 2023


Notes

2023

2022


£

£
Fixed assets
Tangible assets: 3 3,274 3,989
Total fixed assets: 3,274 3,989
Current assets
Debtors:   207,890 291,860
Cash at bank and in hand: 15,487 1,919
Total current assets: 223,377 293,779
Creditors: amounts falling due within one year: 4 (49,024) (49,804)
Net current assets (liabilities): 174,353 243,975
Total assets less current liabilities: 177,627 247,964
Total net assets (liabilities): 177,627 247,964
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 177,527 247,864
Shareholders funds: 177,627 247,964

The notes form part of these financial statements

P.N.W. DESIGN LIMITED

Balance sheet statements

For the year ending 30 June 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 16 November 2023
and signed on behalf of the board by:

Name: P N WILLIAMSON
Status: Director

The notes form part of these financial statements

P.N.W. DESIGN LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

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 and depreciation policy

Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment. Depreciation is calculated to write down the cost of all tangible fixed assets by equal annual instalments over their expected useful lives. The rates generally applicable are:Plant and machinery - 20% on reducing balanceFixtures and fittings - 15% on reducing balance

Other accounting policies

DebtorsShort term debtors are measured at the transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.CreditorsShort term trade creditors are measured at transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.TaxationTaxation 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 and deferred taxation assets and liabilities are not discounted.Current tax is recognised at the amount payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.Deferred taxDeferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that* The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and * Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the difference between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using the tax rates that have been enacted or substantively enacted by the reporting date.Financial instrumentsThe company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares. Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable or payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method.Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However if the arrangements of a short term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted are a market rate of interest for a similar debt instrument and subsequently at amortised cost.

P.N.W. DESIGN LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2023

2. Employees

2023 2022
Average number of employees during the period 2 2

P.N.W. DESIGN LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2023

3. Tangible Assets

Total
Cost £
At 01 July 2022 312,067
At 30 June 2023 312,067
Depreciation
At 01 July 2022 308,078
Charge for year 715
At 30 June 2023 308,793
Net book value
At 30 June 2023 3,274
At 30 June 2022 3,989

P.N.W. DESIGN LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2023

4. Creditors: amounts falling due within one year note

Taxation £2,431 £2,431Other creditors £14,224 £14,224Directors' current accounts £1,674 £1,674Accruals and deferred income £30,695 £31,475

P.N.W. DESIGN LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2023

5. Related party transactions

P. N. W. Properties Limited is a related undertaking in which the directors are also directors and shareholders.Amounts owed to the company by P. N. W. Properties Limited at 30 June 2023 amounted to £207,170 (2022: £275,460).The above balance is interest free with no fixed repayment date.