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Registered number: 11480250
Puretow Mobile Towbar Fitting Ltd
Unaudited Financial Statements
For The Year Ended 31 July 2023
BMG Accountancy Ltd
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 11480250
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 11,708 12,424
11,708 12,424
CURRENT ASSETS
Debtors 5 1,221 3,312
Cash at bank and in hand 10,872 1,746
12,093 5,058
Creditors: Amounts Falling Due Within One Year 6 (1,658 ) (4,564 )
NET CURRENT ASSETS (LIABILITIES) 10,435 494
TOTAL ASSETS LESS CURRENT LIABILITIES 22,143 12,918
Creditors: Amounts Falling Due After More Than One Year 7 (9,472 ) (12,861 )
NET ASSETS 12,671 57
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account 12,670 56
SHAREHOLDERS' FUNDS 12,671 57
Page 1
Page 2
For the year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 Lee Hall
Director
23/03/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Puretow Mobile Towbar Fitting Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11480250 . The registered office is 9 Galway Drive, Bircotes, Doncaster, South Yorkshire, DN11 8BN.
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.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. 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:
Motor Vehicles 25% Reducing balance
Computer Equipment 15% Reducing balance
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 1)
1 1
4. Tangible Assets
Motor Vehicles Computer Equipment Total
£ £ £
Cost
As at 1 August 2022 11,480 1,220 12,700
Additions 2,296 - 2,296
As at 31 July 2023 13,776 1,220 14,996
Depreciation
As at 1 August 2022 - 276 276
Provided during the period 2,870 142 3,012
As at 31 July 2023 2,870 418 3,288
Net Book Value
As at 31 July 2023 10,906 802 11,708
As at 1 August 2022 11,480 944 12,424
Page 3
Page 4
5. Debtors
2023 2022
£ £
Due within one year
Prepayments and accrued income 1,221 1,831
VAT - 1,481
1,221 3,312
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors - 834
Accruals and deferred income 660 660
Director's loan account 998 3,070
1,658 4,564
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 9,472 12,861
9,472 12,861
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1 1
Page 4