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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
Page
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P5 DEVELOPMENTS LTD Company Information for the year ended 31 October 2023
Director
Neil Pritchard
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
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P5 DEVELOPMENTS LTD Statement of financial position as at 31 October 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
92,631 
33,858 
Current assets
Inventories
- 
8,600 
Debtors
29,388 
19,881 
Cash at bank and in hand
49,435 
17,468 
78,823 
45,949 
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)
Net assets
9,618 
7,327 
Capital and reserves
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
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P5 DEVELOPMENTS LTD Notes to the Accounts for the year ended 31 October 2023
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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.
Pension 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
Leased assets
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.
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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 
Depreciation
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 
Net book value
At 31 October 2023
90,852 
1,779 
92,631 
At 31 October 2022
33,436 
422 
33,858 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
26,414 
7,824 
Accrued income and prepayments
2,076 
1,531 
Other debtors
898 
10,526 
29,388 
19,881 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
21,107 
10,636 
VAT
13,990 
4,008 
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 
- 
Deferred income
12,500 
- 
77,806 
36,052 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
13,650 
20,490 
Obligations under finance leases and hire purchase contracts
54,102 
11,117 
67,752 
31,607 
8
Average number of employees
During the year the average number of employees was 1 (2022: 1).
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