Company registration number 13540586 (England and Wales)
PEBBLE HOMES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
PAGES FOR FILING WITH REGISTRAR
PEBBLE HOMES LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
PEBBLE HOMES LIMITED
BALANCE SHEET
AS AT
31 JULY 2023
31 July 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
5
691
-
0
Current assets
Debtors
6
31,344
43,015
Cash at bank and in hand
571
6,590
31,915
49,605
Creditors: amounts falling due within one year
7
(25,993)
(13,696)
Net current assets
5,922
35,909
Total assets less current liabilities
6,613
35,909
Provisions for liabilities
8
(131)
-
0
Net assets
6,482
35,909
Capital and reserves
Called up share capital
9
100
100
Profit and loss reserves
6,382
35,809
Total equity
6,482
35,909

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 5 March 2024
Mark John Barnett
Director
Company registration number 13540586 (England and Wales)
PEBBLE HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
- 2 -
1
Accounting policies
Company information

Pebble Homes Limited is a private company limited by shares incorporated in England and Wales. The registered office is 1 Queens Parade, Brownlow Road, London, N11 2DN.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents the value of services provided to the extent that there is a right to consideration and is recorded at the value of the consideration due net of VAT and trade discount. Revenue is recognised once the third parties have completed their purchase of properties found by the company.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
10% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

1.5
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.6
Taxation

The tax expense represents the tax currently payable.

PEBBLE HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
1
Accounting policies
(Continued)
- 3 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date 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. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

3
Employees

The average monthly number of person employed by the company during the year was:

2023
2022
Number
Number
Total
-
0
-
0
4
Taxation
2023
2022
£
£
Current tax
UK corporation tax on profits for the current period
5,879
8,949
Deferred tax
Origination and reversal of timing differences
131
-
0
Total tax charge
6,010
8,949
PEBBLE HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 4 -
5
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 August 2022
-
0
Additions
768
At 31 July 2023
768
Depreciation and impairment
At 1 August 2022
-
0
Depreciation charged in the year
77
At 31 July 2023
77
Carrying amount
At 31 July 2023
691
At 31 July 2022
-
0
6
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
-
0
829
Director's current account
31,116
42,186
Other debtors
228
-
31,344
43,015
7
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
723
-
0
Corporation tax
14,655
8,949
Other taxation and social security
4,218
3,126
Other creditors
6,397
1,621
25,993
13,696
PEBBLE HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 5 -
8
Provisions for liabilities
2023
2022
£
£
Deferred tax liabilities
131
-
0
9
Called up share capital
2023
2022
Ordinary share capital
£
£
Issued and fully paid
100 Ordinary shares of £1 each
100
100
10
Directors' transactions

The director's current account was overdrawn during the year and interest totalling £609 (2022:£444) was received on the overdrawn balance, at HMRC's official rate. The movement on these loans are as follows:

Dividends totalling £55,000 were paid in the year in respect of shares held by the company's director.

Description
% Rate
Opening balance
Amounts advanced
Interest charged
Amounts repaid
Closing balance
£
£
£
£
£
Director's loan account
2.25
42,186
51,910
609
(63,589)
31,116
11
Controlling party

The company was controlled throughout the current year and previous period by the director by virtue of the fact that he owns the company's entire issued share capital.

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