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Registered number: 05428687
Pepler Fine Fencing Limited
Unaudited Financial Statements
For The Year Ended 30 April 2024
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 05428687
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 40,273 51,863
40,273 51,863
CURRENT ASSETS
Stocks 6 5,000 5,000
Debtors 7 46,041 34,303
Cash at bank and in hand 123 1,795
51,164 41,098
Creditors: Amounts Falling Due Within One Year 8 (68,160 ) (39,738 )
NET CURRENT ASSETS (LIABILITIES) (16,996 ) 1,360
TOTAL ASSETS LESS CURRENT LIABILITIES 23,277 53,223
Creditors: Amounts Falling Due After More Than One Year 9 (15,302 ) (31,990 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (7,652 ) (9,854 )
NET ASSETS 323 11,379
CAPITAL AND RESERVES
Called up share capital 11 1 1
Profit and Loss Account 322 11,378
SHAREHOLDERS' FUNDS 323 11,379
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For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr K M Pepler
Director
26 July 2024
The notes on pages 3 to 6 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Pepler Fine Fencing Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05428687 . The registered office is Lanes Farm, Goosey, Faringdon, SN7 8PA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is now fully amortised. 
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% reducing balance
Motor Vehicles 25% reducing balance
Computer Equipment 25% straight line
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.8. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 3)
3 3
4. Intangible Assets
Goodwill
£
Cost
As at 1 May 2023 30,000
As at 30 April 2024 30,000
Amortisation
As at 1 May 2023 30,000
As at 30 April 2024 30,000
Net Book Value
As at 30 April 2024 -
As at 1 May 2023 -
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5. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 May 2023 184,569 24,095 1,362 210,026
As at 30 April 2024 184,569 24,095 1,362 210,026
Depreciation
As at 1 May 2023 141,790 16,084 289 158,163
Provided during the period 9,491 2,003 96 11,590
As at 30 April 2024 151,281 18,087 385 169,753
Net Book Value
As at 30 April 2024 33,288 6,008 977 40,273
As at 1 May 2023 42,779 8,011 1,073 51,863
6. Stocks
2024 2023
£ £
Stock 5,000 5,000
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 9,538 9,640
Corporation tax recoverable assets 9,410 6,371
Director's loan account 27,093 18,292
46,041 34,303
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 6,688 7,505
Trade creditors 15,441 10,592
Bank loans and overdrafts 34,546 10,000
Corporation tax 5,931 264
Other taxes and social security 1,412 975
VAT 3,170 8,301
Other creditors 609 1,215
Pension creditor 293 570
Accruals and deferred income 70 316
68,160 39,738
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9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 3,635 10,323
Bank loans 11,667 21,667
15,302 31,990
10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 6,688 7,505
Later than one year and not later than five years 3,635 10,323
10,323 17,828
10,323 17,828
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
12. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 May 2023 Amounts advanced Amounts repaid Amounts written off As at 30 April 2024
£ £ £ £ £
Mr Keith Pepler 18,292 8,801 - - 27,093
The above loan is unsecured, 2.25% interest has been applied. The loan is repayable on demand.
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