Company Registration No. 12244870 (England and Wales)
P5 DEVELOPMENTS LTD
Unaudited accounts
for the year ended 31 October 2023
P5 DEVELOPMENTS LTD
Unaudited accounts
Contents
P5 DEVELOPMENTS LTD
Company Information
for the year ended 31 October 2023
Company Number
12244870 (England and Wales)
Registered Office
57 Stonepark Avenue
Beckenham
BR3 3LU
United Kingdom
Accountants
Solid Ltd
Eagle House
163 City Road
London
EC1V 1NR
P5 DEVELOPMENTS LTD
Statement of financial position
as at 31 October 2023
Tangible assets
92,631
33,858
Cash at bank and in hand
49,435
17,468
Creditors: amounts falling due within one year
(77,806)
(36,052)
Net current assets
1,017
9,897
Total assets less current liabilities
93,648
43,755
Creditors: amounts falling due after more than one year
(67,752)
(31,607)
Provisions for liabilities
Deferred tax
(16,278)
(4,821)
Called up share capital
1
1
Profit and loss account
9,617
7,326
Shareholders' funds
9,618
7,327
For the year ending 31 October 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 18 July 2024 and were signed on its behalf by
Neil Pritchard
Director
Company Registration No. 12244870
P5 DEVELOPMENTS LTD
Notes to the Accounts
for the year ended 31 October 2023
P5 DEVELOPMENTS LTD is a private company, limited by shares, registered in England and Wales, registration number 12244870. The registered office is 57 Stonepark Avenue, Beckenham, BR3 3LU, United Kingdom.
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.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
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.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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:
Motor vehicles
over 4 years
Computer equipment
over 4 years
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Cash and cash equivalents
Cash and cash equivalents are basic financial instruments and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
P5 DEVELOPMENTS LTD
Notes to the Accounts
for the year ended 31 October 2023
4
Tangible fixed assets
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 November 2022
45,989
750
46,739
Additions
67,155
1,687
68,842
At 31 October 2023
113,144
2,437
115,581
At 1 November 2022
12,553
328
12,881
Charge for the year
9,739
330
10,069
At 31 October 2023
22,292
658
22,950
At 31 October 2023
90,852
1,779
92,631
At 31 October 2022
33,436
422
33,858
Amounts falling due within one year
Trade debtors
26,414
7,824
Accrued income and prepayments
2,076
1,531
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
21,107
10,636
Obligations under finance leases and hire purchase contracts
12,885
6,064
Trade creditors
6,277
9,059
Taxes and social security
10,238
6,285
Loans from directors
809
-
7
Creditors: amounts falling due after more than one year
2023
2022
Obligations under finance leases and hire purchase contracts
54,102
11,117
8
Average number of employees
During the year the average number of employees was 1 (2022: 1).