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REGISTERED NUMBER: 08283784 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

PG COMMERCIAL LIMITED

PG COMMERCIAL LIMITED (REGISTERED NUMBER: 08283784)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Certified Accountants' Report 7

PG COMMERCIAL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTORS: J Valender
T Viney





REGISTERED OFFICE: 14 Long Grove Close
Broxbourne
Hertfordshire
EN10 7NP





REGISTERED NUMBER: 08283784 (England and Wales)





ACCOUNTANTS: MTI Accounting Solutions Limited
14 Long Grove Close
Broxbourne
Hertfordshire
EN10 7NP

PG COMMERCIAL LIMITED (REGISTERED NUMBER: 08283784)

BALANCE SHEET
30 NOVEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 106,275 128,954
106,275 128,954

CURRENT ASSETS
Debtors 6 928,535 733,782
Cash at bank and in hand 369,698 428,800
1,298,233 1,162,582
CREDITORS
Amounts falling due within one year 7 294,625 402,242
NET CURRENT ASSETS 1,003,608 760,340
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,109,883

889,294

CREDITORS
Amounts falling due after more than one
year

8

-

(32,353

)

PROVISIONS FOR LIABILITIES (26,569 ) (24,501 )
NET ASSETS 1,083,314 832,440

CAPITAL AND RESERVES
Called up share capital 100 52
Share premium 195,952 -
Capital redemption reserve 50 50
Retained earnings 887,212 832,338
SHAREHOLDERS' FUNDS 1,083,314 832,440

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

PG COMMERCIAL LIMITED (REGISTERED NUMBER: 08283784)

BALANCE SHEET - continued
30 NOVEMBER 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 July 2024 and were signed on its behalf by:





T Viney - Director


PG COMMERCIAL LIMITED (REGISTERED NUMBER: 08283784)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1. STATUTORY INFORMATION

PG Commercial 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.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - in accordance with the property
Plant and machinery etc - 20% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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 7 (2022 - 8 ) .

PG COMMERCIAL LIMITED (REGISTERED NUMBER: 08283784)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2022
and 30 November 2023 3,000
AMORTISATION
At 1 December 2022
and 30 November 2023 3,000
NET BOOK VALUE
At 30 November 2023 -
At 30 November 2022 -

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 December 2022 9,981 495,064 505,045
Additions - 43,109 43,109
At 30 November 2023 9,981 538,173 548,154
DEPRECIATION
At 1 December 2022 9,981 366,110 376,091
Charge for year - 65,788 65,788
At 30 November 2023 9,981 431,898 441,879
NET BOOK VALUE
At 30 November 2023 - 106,275 106,275
At 30 November 2022 - 128,954 128,954

6. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 309,785 367,032
Other debtors 422,750 366,750
732,535 733,782

Amounts falling due after more than one year:
Other debtors 196,000 -

Aggregate amounts 928,535 733,782

PG COMMERCIAL LIMITED (REGISTERED NUMBER: 08283784)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 32,353 64,706
Trade creditors 79,396 191,167
Taxation and social security 182,876 146,369
294,625 402,242

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 32,353

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 94,412 89,902
Between one and five years 361,913 377,648
In more than five years - 78,676
456,325 546,226

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 32,353 97,059

The bank loan is secured by a fixed and floating charge over the company's assets.

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 November 2023 and 30 November 2022:

2023 2022
£    £   
J Valender
Balance outstanding at start of year 260,000 260,000
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 260,000 260,000

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
PG COMMERCIAL 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 PG Commercial Limited for the year ended 30 November 2023 which comprise the Income Statement, 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of PG Commercial 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 PG Commercial Limited and state those matters that we have agreed to state to the Board of Directors of PG Commercial Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that PG Commercial 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 PG Commercial Limited. You consider that PG Commercial 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 PG Commercial 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.






MTI Accounting Solutions Limited
14 Long Grove Close
Broxbourne
Hertfordshire
EN10 7NP


26 July 2024