Company Registration No. 07704321 (England and Wales)
PETERBOROUGH RECLINER CENTRE LTD
Unaudited accounts
for the year ended 31 August 2023
PETERBOROUGH RECLINER CENTRE LTD
Unaudited accounts
Contents
PETERBOROUGH RECLINER CENTRE LTD
Company Information
for the year ended 31 August 2023
Director
John James Patrick Prendergast-Walsh
Company Number
07704321 (England and Wales)
Registered Office
1B MANCETTER SQUARE
LINCOLN ROAD
PETERBOROUGH
PE4 6BX
Accountants
LeeP Accountants
Unit 3F Forward Hs, Aston Business Park
Shrewsbury Avenue, Woodston
Peterborough
Cambridgeshire
PE2 7EY
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of PETERBOROUGH RECLINER CENTRE LTD for the year ended 31 August 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
PETERBOROUGH RECLINER CENTRE LTD for the year ended
31 August 2023 as set out on pages
5 -
7 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 at icaew.com/membershandbook.
This report is made solely to the Board of Directors of PETERBOROUGH RECLINER CENTRE LTD, as a body, in accordance with the terms of our engagement letter dated 21 February 2023. Our work has been undertaken solely to prepare for your approval the accounts of PETERBOROUGH RECLINER CENTRE LTD and state those matters that we have agreed to state to the Board of Directors of PETERBOROUGH RECLINER CENTRE LTD, as a body, in this report in accordance with AAF 07/16 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than PETERBOROUGH RECLINER CENTRE LTD and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that PETERBOROUGH RECLINER CENTRE LTD has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of PETERBOROUGH RECLINER CENTRE LTD. You consider that PETERBOROUGH RECLINER CENTRE LTD 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 accounts of PETERBOROUGH RECLINER CENTRE LTD. 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 accounts.
LeeP Accountants
Chartered Accountants
Unit 3F Forward Hs, Aston Business Park
Shrewsbury Avenue, Woodston
Peterborough
Cambridgeshire
PE2 7EY
26 April 2024
PETERBOROUGH RECLINER CENTRE LTD
Statement of financial position
as at 31 August 2023
Tangible assets
2,991
2,233
Inventories
102,030
70,960
Cash at bank and in hand
7,788
11,072
Creditors: amounts falling due within one year
(48,743)
(83,537)
Net current assets
73,160
87,422
Total assets less current liabilities
76,151
89,655
Creditors: amounts falling due after more than one year
(17,692)
(28,251)
Provisions for liabilities
Called up share capital
18
18
Profit and loss account
57,872
61,270
Shareholders' funds
57,890
61,288
For the year ending 31 August 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 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 26 April 2024 and were signed on its behalf by
John James Patrick Prendergast-Walsh
Director
Company Registration No. 07704321
PETERBOROUGH RECLINER CENTRE LTD
Notes to the Accounts
for the year ended 31 August 2023
PETERBOROUGH RECLINER CENTRE LTD is a private company, limited by shares, registered in England and Wales, registration number 07704321. The registered office is 1B MANCETTER SQUARE, LINCOLN ROAD, PETERBOROUGH, PE4 6BX.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 31 August 2023 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 September 2021.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
RB 15%
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 September 2022
2,019
13,016
4,532
2,112
21,679
Additions
-
-
1,333
-
1,333
At 31 August 2023
2,019
13,016
5,865
2,112
23,012
At 1 September 2022
1,665
13,016
3,723
1,042
19,446
Charge for the year
71
-
138
366
575
At 31 August 2023
1,736
13,016
3,861
1,408
20,021
At 31 August 2023
283
-
2,004
704
2,991
At 31 August 2022
354
-
809
1,070
2,233
PETERBOROUGH RECLINER CENTRE LTD
Notes to the Accounts
for the year ended 31 August 2023
Amounts falling due within one year
Accrued income and prepayments
3,000
10,224
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
15,934
21,911
Trade creditors
46,202
59,112
Taxes and social security
9,656
6,985
Loans from directors
(24,763)
(30,182)
7
Creditors: amounts falling due after more than one year
2023
2022
8
Average number of employees
During the year the average number of employees was 3 (2022: 3).