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Registration number: 10073523

Pentrevion Fire Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Pentrevion Fire Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 10

 

Pentrevion Fire Limited

Company Information

Directors

Mr T J Gates

Mrs J A Gates

Registered office

Lower Ground Floor
Whittington House
64 High Street
Fareham
PO16 7BG

Accountants

MMO Limited
Wellesley House
204 London Road
Waterlooville
Hampshire
PO7 7AN

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Pentrevion Fire Limited
for the Year Ended 31 March 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Pentrevion Fire Limited for the year ended 31 March 2024 as set out on pages 3 to 10 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Pentrevion Fire Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Pentrevion Fire Limited and state those matters that we have agreed to state to the Board of Directors of Pentrevion Fire Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Pentrevion Fire Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Pentrevion Fire Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Pentrevion Fire Limited. You consider that Pentrevion Fire 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 accounts of Pentrevion Fire 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 accounts.

......................................

MMO Limited
Wellesley House
204 London Road
Waterlooville
Hampshire
PO7 7AN

31 July 2024

 

Pentrevion Fire Limited

(Registration number: 10073523)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

2,407

3,320

Current assets

 

Stocks

5

1,920

15,750

Debtors

6

46,926

34,535

Cash at bank and in hand

 

54,989

78,357

 

103,835

128,642

Creditors: Amounts falling due within one year

7

(32,471)

(37,943)

Net current assets

 

71,364

90,699

Total assets less current liabilities

 

73,771

94,019

Provisions for liabilities

(458)

(631)

Net assets

 

73,313

93,388

Capital and reserves

 

Called up share capital

8

120

120

Retained earnings

73,193

93,268

Shareholders' funds

 

73,313

93,388

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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 31 July 2024 and signed on its behalf by:
 

 

Pentrevion Fire Limited

(Registration number: 10073523)
Balance Sheet as at 31 March 2024

.........................................
Mr T J Gates
Director

 

Pentrevion Fire 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:
Lower Ground Floor
Whittington House
64 High Street
Fareham
PO16 7BG
England

These financial statements were authorised for issue by the Board on 31 July 2024.

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

All figures are presented in British Sterling, which is the funcional currency of the company, and are rounded to the nearest £1.

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 sales/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.

Tax

The tax expense for the period comprises current and deferred 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.

 

Pentrevion Fire Limited

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

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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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.

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

Office equipment

33.3% 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.

Trade 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 the impairment of trade debtors 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 receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Pentrevion Fire Limited

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

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable 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.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value 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 3 (2023 - 3).

 

Pentrevion Fire 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

9,336

9,336

Additions

1,831

1,831

At 31 March 2024

11,167

11,167

Depreciation

At 1 April 2023

6,016

6,016

Charge for the year

2,744

2,744

At 31 March 2024

8,760

8,760

Carrying amount

At 31 March 2024

2,407

2,407

At 31 March 2023

3,320

3,320

5

Stocks

2024
£

2023
£

Work in progress

1,920

15,750

6

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

17,580

21,762

Amounts owed by related parties

10

1,951

1,000

Prepayments

 

6,884

1,220

Other debtors

 

20,511

10,553

   

46,926

34,535

 

Pentrevion Fire Limited

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

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

29,821

35,293

Accruals and deferred income

2,400

2,400

Other creditors

250

250

32,471

37,943

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

Ordinary A of £1 each

10

10

10

10

Ordinary B of £1 each

10

10

10

10

120

120

120

120

9

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2024
£

2023
£

Not later than one year

6,088

-

Later than one year and not later than five years

14,713

-

20,801

-

The amount of non-cancellable operating lease payments recognised as an expense during the year was £5,454 (2023 - £Nil).

 

Pentrevion Fire Limited

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

10

Related party transactions

Transactions with directors

2024

At 1 April 2023
£

Advances to director
£

Repayments by director
£

At 31 March 2024
£

Directors Loan Account

10,553

91,411

(85,554)

16,410

 

2023

At 1 April 2022
£

Advances to director
£

Repayments by director
£

At 31 March 2023
£

Directors Loan Account

12,006

107,925

(109,378)

10,553

 

Dividends paid to directors

2024
£

2023
£

Mr T J Gates

Dividends

15,000

33,850

 

 

Mrs J A Gates

Dividends

41,000

54,750

 

 

Other transactions with directors

Included within other debtors is an amount owed by the directors of £16,410 (2023 - £10,553). This amount is undated, unsecured, interest free and repayable on demand.

Summary of transactions with other related parties

Fire Academy for Knowledge and Training Limited
Fire Academy for Knowledge and Training Limited is a company owned by the directors of Pentrevion Fire Limited. At the balance sheet date the amount due from Fire Academy for Knowledge and Training Limited was £1,951 (2023 - £1,000). This amount is undated, unsecured, interest free and repayable on demand.