PAB Limited 02319002 false 2022-04-06 2023-03-31 2023-03-31 The principal activity of the company is the letting of residential property. Digita Accounts Production Advanced 6.30.9574.0 true true 02319002 2022-04-06 2023-03-31 02319002 2023-03-31 02319002 bus:OrdinaryShareClass1 2023-03-31 02319002 bus:Original 2023-03-31 02319002 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 02319002 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 02319002 bus:SmallEntities 2022-04-06 2023-03-31 02319002 bus:AuditExemptWithAccountantsReport 2022-04-06 2023-03-31 02319002 bus:FullAccounts 2022-04-06 2023-03-31 02319002 bus:SmallCompaniesRegimeForAccounts 2022-04-06 2023-03-31 02319002 bus:RegisteredOffice 2022-04-06 2023-03-31 02319002 bus:CompanySecretaryDirector2 2022-04-06 2023-03-31 02319002 bus:Director1 2022-04-06 2023-03-31 02319002 bus:OrdinaryShareClass1 2022-04-06 2023-03-31 02319002 bus:PrivateLimitedCompanyLtd 2022-04-06 2023-03-31 02319002 core:PlantMachinery 2022-04-06 2023-03-31 02319002 countries:AllCountries 2022-04-06 2023-03-31 02319002 2021-04-06 2022-04-05 02319002 2022-04-05 02319002 bus:OrdinaryShareClass1 2022-04-05 02319002 core:CurrentFinancialInstruments core:WithinOneYear 2022-04-05 02319002 core:Non-currentFinancialInstruments core:AfterOneYear 2022-04-05 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 02319002

PAB Limited

Unaudited Filleted Abridged Financial Statements

for the Period from 6 April 2022 to 31 March 2023

 

PAB Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 6

 

PAB Limited

Company Information

Directors

Mr Paul Bridgland

Mrs Josephine Bridgland

Company secretary

Mrs Josephine Bridgland

Registered office

14 Merrow Place
Guildford
Surrey
GU4 7DL

Accountants

TaxAntics Limited
45 Silver Hill
College Town
Sandhurst
Berkshire
GU47 0QS

 

PAB Limited

(Registration number: 02319002)
Abridged Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

225,947

225,947

Other financial assets

173,110

173,110

 

399,057

399,057

Current assets

 

Cash at bank and in hand

 

3,000

3,058

Creditors: Amounts falling due within one year

(23,036)

(22,112)

Net current liabilities

 

(20,036)

(19,054)

Total assets less current liabilities

 

379,021

380,003

Creditors: Amounts falling due after more than one year

(140,719)

(140,719)

Net assets

 

238,302

239,284

Capital and reserves

 

Called up share capital

4

25,000

25,000

Retained earnings

213,302

214,284

Shareholders' funds

 

238,302

239,284

For the financial period ending 31 March 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 period 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.

Approved and authorised by the Board on 29 March 2024 and signed on its behalf by:
 

 

PAB Limited

(Registration number: 02319002)
Abridged Balance Sheet as at 31 March 2023

.........................................
Mr Paul Bridgland
Director

 

PAB Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 6 April 2022 to 31 March 2023

1

General information

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

The address of its registered office is:
14 Merrow Place
Guildford
Surrey
GU4 7DL
England

These financial statements were authorised for issue by the Board on 29 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.

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.

 

PAB Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 6 April 2022 to 31 March 2023

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

Office equipment

25% reducing balance.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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 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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2 (2022 - 2).

 

PAB Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 6 April 2022 to 31 March 2023

4

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

25,000

25,000

25,000

25,000