Preston Solutions Limited 03733334 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is logistics consultancy and training services Digita Accounts Production Advanced 6.30.9574.0 true true 03733334 2023-04-01 2024-03-31 03733334 2024-03-31 03733334 bus:OrdinaryShareClass2 2024-03-31 03733334 bus:OrdinaryShareClass3 2024-03-31 03733334 core:RetainedEarningsAccumulatedLosses 2024-03-31 03733334 core:ShareCapital 2024-03-31 03733334 core:CurrentFinancialInstruments 2024-03-31 03733334 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 03733334 core:FurnitureFittingsToolsEquipment 2024-03-31 03733334 bus:SmallEntities 2023-04-01 2024-03-31 03733334 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 03733334 bus:FullAccounts 2023-04-01 2024-03-31 03733334 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 03733334 bus:RegisteredOffice 2023-04-01 2024-03-31 03733334 bus:Director1 2023-04-01 2024-03-31 03733334 bus:OrdinaryShareClass2 2023-04-01 2024-03-31 03733334 bus:OrdinaryShareClass3 2023-04-01 2024-03-31 03733334 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 03733334 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 03733334 countries:EnglandWales 2023-04-01 2024-03-31 03733334 2023-03-31 03733334 core:FurnitureFittingsToolsEquipment 2023-03-31 03733334 2022-04-01 2023-03-31 03733334 2023-03-31 03733334 bus:OrdinaryShareClass2 2023-03-31 03733334 bus:OrdinaryShareClass3 2023-03-31 03733334 core:RetainedEarningsAccumulatedLosses 2023-03-31 03733334 core:ShareCapital 2023-03-31 03733334 core:CurrentFinancialInstruments 2023-03-31 03733334 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 03733334 core:FurnitureFittingsToolsEquipment 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 03733334

Preston Solutions Limited

Unaudited Financial Statements

for the Year Ended 31 March 2024

 

Preston Solutions Limited

(Registration number: 03733334)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

628

1,553

Current assets

 

Debtors

5

28,816

34,877

Cash at bank and in hand

 

24,030

18,819

 

52,846

53,696

Creditors: Amounts falling due within one year

6

(23,832)

(22,952)

Net current assets

 

29,014

30,744

Net assets

 

29,642

32,297

Capital and reserves

 

Called up share capital

7

2

2

Retained earnings

29,640

32,295

Shareholders' funds

 

29,642

32,297

For the financial year ending 31 March 2024 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 of its accounts for the year in question in accordance with section 476.

The directors acknowledge their 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 and FRS 102 Section 1A.

Approved and authorised by the Board on 19 April 2024 and signed on its behalf by:
 

.........................................
Mr J L Cronin
Director

   
 

Preston Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

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: 17 Burnhams Road, Bookham, Leatherhead, Surrey, KT23 3AS.

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 financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These 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 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.

Government grants

Government grant income is recognised in these financial statements in line with satisfied performance criteria.

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.

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.

 

Preston Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

2

Accounting policies (continued)

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

Fixtures, fittings and equipment

25% straight line 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. 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 impairment 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 debtor.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Creditors 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. Creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. All shares are issued on a fully paid up 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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 3).

 

Preston Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2023

7,670

7,670

At 31 March 2024

7,670

7,670

Depreciation

At 1 April 2023

6,117

6,117

Charge for the year

925

925

At 31 March 2024

7,042

7,042

Carrying amount

At 31 March 2024

628

628

At 31 March 2023

1,553

1,553

5

Debtors

Current

2024
£

2023
£

Trade debtors

20,610

26,422

Prepayments

1,950

1,910

Other debtors

6,256

6,545

 

28,816

34,877

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Taxes and social security

13,597

19,037

Directors current accounts

9,048

2,927

Other creditors

1,187

988

23,832

22,952

 

Preston Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary A shares of £0.50 each

2

1

2

1

Ordinary B shares of £0.50 each

2

1

2

1

 

4

2

4

2