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Registration number: 04041924

P.J. Atherton (Surveying) Limited

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 July 2023

 

P.J. Atherton (Surveying) Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 8

 

P.J. Atherton (Surveying) Limited

Company Information

Director

Mr P J Atherton

Registered office

Westerlea
Cadhay Lane
Ottery St Mary
Devon
EX11 1QZ

Accountants

Easterbrook Eaton Limited
Chartered Accountants
Cosmopolitan House
Old Fore Street
Sidmouth
Devon
EX10 8LS

 

P.J. Atherton (Surveying) Limited

(Registration number: 04041924)
Abridged Balance Sheet as at 31 July 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

1,265

2,618

Current assets

 

Stocks

5

13,346

5,664

Cash at bank and in hand

 

29,098

32,593

 

42,444

38,257

Prepayments and accrued income

 

560

485

Creditors: Amounts falling due within one year

(31,695)

(34,399)

Net current assets

 

11,309

4,343

Total assets less current liabilities

 

12,574

6,961

Accruals and deferred income

 

(1,300)

(1,000)

Net assets

 

11,274

5,961

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

11,174

5,861

Shareholders' funds

 

11,274

5,961

For the financial 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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 9 April 2024
 

 

P.J. Atherton (Surveying) Limited

(Registration number: 04041924)
Abridged Balance Sheet as at 31 July 2023

.........................................
Mr P J Atherton
Director

 

P.J. Atherton (Surveying) Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 July 2023

1

General information

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

The address of its registered office is:
Westerlea
Cadhay Lane
Ottery St Mary
Devon
EX11 1QZ

These financial statements were authorised for issue by the director on 9 April 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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

P.J. Atherton (Surveying) Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 July 2023

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.

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

Land and buildings

5% straight-line basis

Computer equipment

33% straight-line basis

Plant and equipment

25% reducing balance basis

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 debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

 

P.J. Atherton (Surveying) Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 July 2023

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 August 2022

23,135

13,641

36,776

At 31 July 2023

23,135

13,641

36,776

Depreciation

At 1 August 2022

20,913

13,245

34,158

Charge for the year

1,149

204

1,353

At 31 July 2023

22,062

13,449

35,511

Carrying amount

At 31 July 2023

1,073

192

1,265

At 31 July 2022

2,222

396

2,618

Included within the net book value of land and buildings above is £1,073 (2022 - £2,222) in respect of freehold land and buildings.
 

5

Stocks

2023
£

2022
£

Work in progress

13,346

5,664

6

Debtors

Debtors includes £Nil (2022 - £Nil) due after more than one year.

 

P.J. Atherton (Surveying) Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 July 2023

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

         

8

Dividends

Final dividends paid

Interim dividends paid

   

2023
£

 

2022
£

Interim dividend of £20.00 per each Ordinary

 

2,000

 

2,000

         

Interim dividends paid

   

2023
£

 

2022
£

Interim dividend of £20 per each Ordinary

 

2,000

 

2,000

         

Recommended final dividends paid and not recognised in the accounts

The director is recommending the following final dividends:

These dividends have not been accrued in the balance sheet.

9

Related party transactions

 

P.J. Atherton (Surveying) Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 July 2023

Transactions with the director

2023

At 1 August 2022
£

Advances to director
£

At 31 July 2023
£

Mr P J Atherton

32,645

(3,188)

29,457

       
     

 

2022

At 1 August 2021
£

Advances to director
£

At 31 July 2022
£

Mr P J Atherton

33,078

(433)

32,645