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Registered number: 13623363
P&D Boats Limited
Unaudited Financial Statements
For The Year Ended 30 September 2023
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 13623363
30 September 2023 30 September 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 - 15,000
Tangible Assets 5 - 1,600
- 16,600
CURRENT ASSETS
Stocks 6 - 77,614
Debtors 7 - 66,986
Cash at bank and in hand - 147
- 144,747
Creditors: Amounts Falling Due Within One Year 8 (23,114 ) (290,973 )
NET CURRENT ASSETS (LIABILITIES) (23,114 ) (146,226 )
TOTAL ASSETS LESS CURRENT LIABILITIES (23,114 ) (129,626 )
PROVISIONS FOR LIABILITIES
Deferred Taxation - (3,154 )
NET LIABILITIES (23,114 ) (132,780 )
CAPITAL AND RESERVES
Called up share capital 9 1 1
Profit and Loss Account (23,115 ) (132,781 )
SHAREHOLDERS' FUNDS (23,114) (132,780)
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For the year ending 30 September 2023 the company was entitled to exemption from audit 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.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Simon Nadin
Director
04/04/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
P&D Boats Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13623363 . The registered office is Unit 1 Anderstaff Industrial Estate, Hawkins Lane, Burton-On-Trent, DE14 1QH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are website and other intellectual rights. This is amortised to the profit and loss account over its estimated economic life of 4 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% RB
Fixtures & Fittings 25% RB
Computer Equipment 25% RB
2.5. Stocks and Work in Progress
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 stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2022: 3)
4 3
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5. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 October 2022 839 442 852 2,133
Additions 315 - - 315
Disposals (1,154 ) (442 ) (852 ) (2,448 )
Depreciation
As at 1 October 2022 210 110 213 533
Disposals (210 ) (110 ) (213 ) (533 )
As at 30 September 2023 - - - -
Net Book Value
As at 30 September 2023 - - - -
As at 1 October 2022 629 332 639 1,600
6. Stocks
30 September 2023 30 September 2022
£ £
Stock - 77,614
7. Debtors
30 September 2023 30 September 2022
£ £
Due within one year
Trade debtors - 51,515
Prepayments and accrued income - 7,748
VAT - 7,723
- 66,986
8. Creditors: Amounts Falling Due Within One Year
30 September 2023 30 September 2022
£ £
Trade creditors 2,215 125,517
Other creditors - 162,209
Taxation and social security 20,899 3,247
23,114 290,973
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9. Share Capital
30 September 2023 30 September 2022
£ £
Allotted, Called up and fully paid 1 1
10. Directors Advances, Credits and Guarantees
Included within Creditors are the following loans to directors:
As at 1 October 2022 Amounts advanced Amounts repaid Amounts written off As at 30 September 2023
£ £ £ £ £
Mr Simon Nadin 43,000 - 43,000 - -
The above loan is unsecured, interest free and repayable on demand.
11. Related Party Transactions
During the year monies owed to Pontoon & Dock Ltd of £99,318 and to P&D Marine Group Ltd of £47,000 were written off, companies that both directors, Mr S Nadin and Mrs S Nadin have an interest in.
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