REGISTERED NUMBER: |
Financial Statements for the Year Ended 30 June 2023 |
for |
Pasuda Buildings Limited |
REGISTERED NUMBER: |
Financial Statements for the Year Ended 30 June 2023 |
for |
Pasuda Buildings Limited |
Pasuda Buildings Limited (Registered number: 02721884) |
Contents of the Financial Statements |
for the Year Ended 30 June 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Pasuda Buildings Limited |
Company Information |
for the Year Ended 30 June 2023 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
BUSINESS ADDRESS: |
REGISTERED NUMBER: |
INDEPENDENT AUDITORS: |
Statutory Auditor |
68 Queen Street |
Sheffield |
South Yorkshire |
S1 1WR |
BANKERS: |
7th Floor |
3 St Pauls Place |
129 Norfolk Street |
Sheffield |
South Yorkshire |
S1 2JE |
Pasuda Buildings Limited (Registered number: 02721884) |
Balance Sheet |
30 June 2023 |
30/6/23 | 30/6/22 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
Pasuda Buildings Limited (Registered number: 02721884) |
Notes to the Financial Statements |
for the Year Ended 30 June 2023 |
1. | STATUTORY INFORMATION |
Pasuda Buildings Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Turnover from the sale of goods represents the manufacture and sale of site cabins and related equipment. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. |
Tangible fixed assets |
Short leasehold | - |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical costs include expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. |
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively, if appropriate, or if there is an indication of a significant change since the last reporting date. |
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss. |
Stocks |
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition. |
Pasuda Buildings Limited (Registered number: 02721884) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2023 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the asset of the company after deducting all of its liabilities. |
Taxation |
Taxation 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 or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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. |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Pasuda Buildings Limited (Registered number: 02721884) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2023 |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Short | Plant and | and | Motor |
leasehold | machinery | fittings | vehicles | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 July 2022 |
Additions |
Disposals | ( |
) | ( |
) | ( |
) |
At 30 June 2023 |
DEPRECIATION |
At 1 July 2022 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) | ( |
) |
At 30 June 2023 |
NET BOOK VALUE |
At 30 June 2023 |
At 30 June 2022 |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Motor |
vehicles |
£ |
COST |
At 1 July 2022 |
Transfer to ownership | (17,000 | ) |
At 30 June 2023 |
DEPRECIATION |
At 1 July 2022 |
Charge for year |
Transfer to ownership | (15,229 | ) |
At 30 June 2023 |
NET BOOK VALUE |
At 30 June 2023 |
At 30 June 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30/6/23 | 30/6/22 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
Pasuda Buildings Limited (Registered number: 02721884) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2023 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30/6/23 | 30/6/22 |
£ | £ |
Hire purchase contracts |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
7. | SECURED DEBTS |
The following secured debts are included within creditors: |
30/6/23 | 30/6/22 |
£ | £ |
Hire purchase contracts | - | 2,658 |
The hire purchase liabilities are secured against the related assets. |
The bank overdraft is secured by way of a legal charge over the group's trading property and there is also an un-limited inter company composite guarantee by and between each member of the group. |
8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
9. | OTHER FINANCIAL COMMITMENTS |
Amounts not provided for in the balance sheet |
The total amount of guarantees not included in the balance sheet is £nil (2022 - £nil). The company has provided an intercompany cross guarantee in respect of the bank borrowings of Liberty Group Holdings Limited, Pasuda (Hire) Limited, Liberty Guard (UK) Limited, Speakeasy Co Limited and Speakeasy Enterprises Limited. |
10. | RELATED PARTY DISCLOSURES |
Summary of transactions with other related parties |
The Pasuda Self Administered Pension Scheme: of which the company's director, Mr G Jones and his wife are the sole beneficiaries, owns the company's trading premises at Highfield Lane, Orgreave, Sheffield S13 9NA |
During the year the company paid rent charges to the value of £38,400 (2022 - £32,000) in respect of the above property. |
During the year the company issued sales amounting £nil (2022 - £nil) |
At the balance sheet date the amount due from The Pasuda Self Administered Pension Scheme was £nil (2022 - £nil). |
Pasuda Buildings Limited (Registered number: 02721884) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2023 |
11. | ULTIMATE CONTROLLING PARTY |
The company's immediate parent is Liberty Group Holdings Limited, incorporated in England & Wales. |
These financial statements are available upon request from The Old Airfield, Belton Road, Sandtoft, Doncaster DN8 5SX. |
The ultimate controlling party is Mr Gordon Jones and Mrs Susan Jones by virtue of their shareholding in the parent company. |