Registered number
05953745
Pocock & Shaw Ely Limited
Unaudited Filleted Accounts
31 December 2023
Pocock & Shaw Ely Limited
Registered number: 05953745
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 5 19,248 21,687
Current assets
Debtors 6 48,327 44,325
Cash at bank and in hand 323,993 336,514
372,320 380,839
Creditors: amounts falling due within one year 7 (73,352) (80,053)
Net current assets 298,968 300,786
Total assets less current liabilities 318,216 322,473
Provisions for liabilities - 1,930
Net assets 318,216 324,403
Capital and reserves
Called up share capital 2 2
Profit and loss account 318,214 324,401
Shareholders' funds 318,216 324,403
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr G Van Dicks
Director
Approved by the board on 30 July 2024
Pocock & Shaw Ely Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
The financial statements are prepared in sterling, which is the functional currency of the company.
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 rendering of services and 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.
Intangible fixed assets - goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of the net assets acquired. Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures and fittings 20% reducing balance
Office equipment 3 years straight line
Motor vehicles 20% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to the profit or loss.
Cash and cash equivalents
Cash and cash equivalents are basic financial assets 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.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Exceptional items 2023 2022
£ £
Expenditure
Exceptional employer pension contribution 0 118,728
3 Employees 2023 2022
Number Number
Average number of persons employed by the company 12 12
4 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2023 113,006
At 31 December 2023 113,006
Amortisation
At 1 January 2023 113,006
At 31 December 2023 113,006
Net book value
At 31 December 2023 -
At 31 December 2022 -
5 Tangible fixed assets
Fixtures, fittings & equipment Motor vehicles Total
£ £ £
Cost
At 1 January 2023 34,486 55,885 90,371
Additions 2,757 - 2,757
Disposals (8,548) - (8,548)
At 31 December 2023 28,695 55,885 84,580
Depreciation
At 1 January 2023 27,532 41,152 68,684
Charge for the year 2,249 2,947 5,196
On disposals (8,548) - (8,548)
At 31 December 2023 21,233 44,099 65,332
Net book value
At 31 December 2023 7,462 11,786 19,248
At 31 December 2022 6,954 14,733 21,687
6 Debtors 2023 2022
£ £
Trade debtors 14,587 17,691
Other debtors 33,740 26,634
48,327 44,325
7 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 19,315 18,790
Taxation and social security costs 33,278 18,030
Other creditors 20,759 43,233
73,352 80,053
8 Other financial commitments 2023 2022
£ £
Total future minimum payments under non-cancellable operating leases 18,503 28,466
9 Related party transactions
At the year end the company owed the directors £1,268 (2022 - £1,565) by way of an interest free loan.
10 Other information
Pocock & Shaw Ely Limited is a private company limited by shares and incorporated in England. Its registered office is:
26 High Street
Ely
CB7 4JU
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