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Registration number: 03616746

Podders Nottm Limited

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 August 2023

 

Podders Nottm Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 7

 

Podders Nottm Limited

Company Information

Directors

Mrs Patricia Irene Massey

Mr Simon Massey

Registered office

Arnold Lodge Camp
Bank Hill
Woodborough
Nottingham
Nottinghamshire
NG14 6EF

Accountants

Atkinson Evans Limited
Chartered Certified Accountants
The Old Drill Hall
10 Arnot Hill Road
Arnold
Nottingham
Nottinghamshire
NG5 6LJ

 

Podders Nottm Limited

(Registration number: 03616746)
Abridged Balance Sheet as at 31 August 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

500

500

Tangible assets

5

79,106

32,740

 

79,606

33,240

Current assets

 

Stocks

58,128

37,496

Cash at bank and in hand

 

208,459

318,497

 

266,587

355,993

Prepayments and accrued income

 

18,384

19,197

Creditors: Amounts falling due within one year

(101,786)

(128,231)

Net current assets

 

183,185

246,959

Total assets less current liabilities

 

262,791

280,199

Provisions for liabilities

(17,876)

(3,942)

Accruals and deferred income

 

(10,142)

(10,792)

Net assets

 

234,773

265,465

Capital and reserves

 

Called up share capital

100

100

Retained earnings

234,673

265,365

Shareholders' funds

 

234,773

265,465

For the financial 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their 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 Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Podders Nottm Limited

(Registration number: 03616746)
Abridged Balance Sheet as at 31 August 2023

Approved and authorised by the Board on 7 March 2024 and signed on its behalf by:
 

.........................................
Mr Simon Massey
Director

 

Podders Nottm Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Arnold Lodge Camp
Bank Hill
Woodborough
Nottingham
Nottinghamshire
NG14 6EF

These financial statements were authorised for issue by the Board on 7 March 2024.

2

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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

 

Podders Nottm Limited

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

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.

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

Long leasehold buildings

50 Years straight line method

Plant & equipment

25% Reducing balance method

Motor vehicles

25% Reducing balance method

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Podders Nottm Limited

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

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 8 (2022 - 8).

 

Podders Nottm Limited

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

4

Intangible assets

Total
£

Cost or valuation

At 1 September 2022

500

At 31 August 2023

500

Amortisation

Carrying amount

At 31 August 2023

500

At 31 August 2022

500

5

Tangible assets

Long leasehold land and buildings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 September 2022

19,641

72,772

58,510

150,923

Additions

-

684

55,000

55,684

Disposals

-

-

(29,170)

(29,170)

At 31 August 2023

19,641

73,456

84,340

177,437

Depreciation

At 1 September 2022

7,648

60,489

50,046

118,183

Charge for the year

394

3,081

5,556

9,031

Eliminated on disposal

-

-

(28,883)

(28,883)

At 31 August 2023

8,042

63,570

26,719

98,331

Carrying amount

At 31 August 2023

11,599

9,886

57,621

79,106

At 31 August 2022

11,993

12,283

8,464

32,740

Included within the net book value of land and buildings above is £11,598 (2022 - £11,992) in respect of long leasehold land and buildings.