PTP Accounts Production v24.1.0.578 04026031 Board of Directors Board of Directors 1.10.22 30.9.23 30.9.23 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh040260312022-09-30040260312023-09-30040260312022-10-012023-09-30040260312021-09-30040260312021-10-012022-09-30040260312022-09-3004026031ns15:EnglandWales2022-10-012023-09-3004026031ns14:PoundSterling2022-10-012023-09-3004026031ns10:Director12022-10-012023-09-3004026031ns10:Director22022-10-012023-09-3004026031ns10:PrivateLimitedCompanyLtd2022-10-012023-09-3004026031ns10:SmallEntities2022-10-012023-09-3004026031ns10:AuditExemptWithAccountantsReport2022-10-012023-09-3004026031ns10:SmallCompaniesRegimeForDirectorsReport2022-10-012023-09-3004026031ns10:SmallCompaniesRegimeForAccounts2022-10-012023-09-3004026031ns10:FullAccounts2022-10-012023-09-300402603112022-10-012023-09-3004026031ns10:RegisteredOffice2022-10-012023-09-3004026031ns5:CurrentFinancialInstruments2023-09-3004026031ns5:CurrentFinancialInstruments2022-09-3004026031ns5:ShareCapital2023-09-3004026031ns5:ShareCapital2022-09-3004026031ns5:RetainedEarningsAccumulatedLosses2023-09-3004026031ns5:RetainedEarningsAccumulatedLosses2022-09-3004026031ns5:PlantMachinery2022-10-012023-09-3004026031ns5:IntangibleAssetsOtherThanGoodwill2022-09-3004026031ns5:IntangibleAssetsOtherThanGoodwill2022-10-012023-09-3004026031ns5:IntangibleAssetsOtherThanGoodwill2023-09-3004026031ns5:IntangibleAssetsOtherThanGoodwill2022-09-3004026031ns5:PlantMachinery2022-09-3004026031ns5:PlantMachinery2023-09-3004026031ns5:PlantMachinery2022-09-3004026031ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-09-3004026031ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-09-3004026031ns5:Cost2023-09-3004026031ns5:Cost2022-09-3004026031ns5:WithinOneYear2023-09-3004026031ns5:WithinOneYear2022-09-3004026031ns5:BetweenOneFiveYears2023-09-3004026031ns5:BetweenOneFiveYears2022-09-3004026031ns5:MoreThanFiveYears2023-09-3004026031ns5:MoreThanFiveYears2022-09-3004026031ns5:AllPeriods2023-09-3004026031ns5:AllPeriods2022-09-30
REGISTERED NUMBER: 04026031 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 September 2023

for

P.r.s. Office Furniture Limited

P.r.s. Office Furniture Limited (Registered number: 04026031)






Contents of the Financial Statements
for the Year Ended 30 September 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 9

P.r.s. Office Furniture Limited

Company Information
for the Year Ended 30 September 2023







DIRECTORS: PJ Kemp
LC Forsyth





REGISTERED OFFICE: 5 Harvington Park
Pitstone Business Park
Pitstone
Bedfordshire
LU7 9GX





REGISTERED NUMBER: 04026031 (England and Wales)





ACCOUNTANTS: D. A. Locke & Co, Chartered Accountants
Stoke Bruerne
Northamptonshire
NN12 7SF

P.r.s. Office Furniture Limited (Registered number: 04026031)

Balance Sheet
30 September 2023

30.9.23 30.9.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 314,696 141,292
314,696 141,292

CURRENT ASSETS
Stocks 1,323,022 1,061,558
Debtors 6 2,140,286 3,220,086
Cash at bank and in hand 1,541,754 1,005,508
5,005,062 5,287,152
CREDITORS
Amounts falling due within one year 7 2,328,384 2,568,005
NET CURRENT ASSETS 2,676,678 2,719,147
TOTAL ASSETS LESS CURRENT LIABILITIES 2,991,374 2,860,439

PROVISIONS FOR LIABILITIES 78,674 35,323
NET ASSETS 2,912,700 2,825,116

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 2,912,698 2,825,114
SHAREHOLDERS' FUNDS 2,912,700 2,825,116

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

P.r.s. Office Furniture Limited (Registered number: 04026031)

Balance Sheet - continued
30 September 2023


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 April 2024 and were signed on its behalf by:




PJ Kemp - Director



LC Forsyth - Director


P.r.s. Office Furniture Limited (Registered number: 04026031)

Notes to the Financial Statements
for the Year Ended 30 September 2023

1. STATUTORY INFORMATION

P.r.s. Office Furniture Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are presented in British pounds and amounts are rounded to the nearest whole currency unit.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

P.r.s. Office Furniture Limited (Registered number: 04026031)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' 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 liability simultaneously.

Cash at bank and in hand
Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short term liquid investments with original maturities of three months or less and bank over drafts. Bank overdrafts are shown within borrowings in current liabilities.

Basic financial assets
Basic financial assets, which include debtors and bank and cash balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the individual financial arrangements entered into. An equity instrument is any contract that evidences residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, in which case the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due in one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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


P.r.s. Office Furniture Limited (Registered number: 04026031)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2022 - 25 ) .

P.r.s. Office Furniture Limited (Registered number: 04026031)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 October 2022 178,291
Disposals (178,291 )
At 30 September 2023 -
AMORTISATION
At 1 October 2022 178,291
Eliminated on disposal (178,291 )
At 30 September 2023 -
NET BOOK VALUE
At 30 September 2023 -
At 30 September 2022 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2022 373,154
Additions 252,655
Disposals (127,200 )
At 30 September 2023 498,609
DEPRECIATION
At 1 October 2022 231,862
Charge for year 76,965
Eliminated on disposal (124,914 )
At 30 September 2023 183,913
NET BOOK VALUE
At 30 September 2023 314,696
At 30 September 2022 141,292

P.r.s. Office Furniture Limited (Registered number: 04026031)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Trade debtors 1,781,081 3,008,095
Amounts owed by participating interests 215,905 69,154
Other debtors 143,300 142,837
2,140,286 3,220,086

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Trade creditors 1,069,266 1,028,958
Amounts owed to participating interests 390,239 210,239
Taxation and social security 172,997 347,367
Other creditors 695,882 981,441
2,328,384 2,568,005

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
30.9.23 30.9.22
£    £   
Within one year - 4,009
Between one and five years 216,000 -
In more than five years - 216,000
216,000 220,009

9. ULTIMATE CONTROLLING PARTY

The company is controlled by PJ Kemp and LC Forsyth by reason of their shareholdings.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
P.r.s. Office Furniture Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of P.r.s. Office Furniture Limited for the year ended 30 September 2023 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of P.r.s. Office Furniture Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of P.r.s. Office Furniture Limited and state those matters that we have agreed to state to the Board of Directors of P.r.s. Office Furniture Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than P.r.s. Office Furniture Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that P.r.s. Office Furniture Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of P.r.s. Office Furniture Limited. You consider that P.r.s. Office Furniture Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of P.r.s. Office Furniture Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






D. A. Locke & Co, Chartered Accountants
Stoke Bruerne
Northamptonshire
NN12 7SF


15 April 2024