REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 |
FOR |
PETTIT SINGLETON ASSOCIATES (CUMBRIA) |
LTD |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 |
FOR |
PETTIT SINGLETON ASSOCIATES (CUMBRIA) |
LTD |
PETTIT SINGLETON ASSOCIATES (CUMBRIA) |
LTD (REGISTERED NUMBER: 10786539) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
PETTIT SINGLETON ASSOCIATES (CUMBRIA) |
LTD |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 AUGUST 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chandler House |
7 Ferry Road Office Park |
Riversway |
Preston |
Lancashire |
PR2 2YH |
PETTIT SINGLETON ASSOCIATES (CUMBRIA) |
LTD (REGISTERED NUMBER: 10786539) |
BALANCE SHEET |
31 AUGUST 2023 |
31/8/23 | 31/8/22 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
PETTIT SINGLETON ASSOCIATES (CUMBRIA) |
LTD (REGISTERED NUMBER: 10786539) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2023 |
1. | STATUTORY INFORMATION |
Pettit Singleton Associates (Cumbria) Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due. Where a contract has only been partially completed at the balance sheet date turnover represents the value of the service provided to date based on a proportion of the total expected consideration at completion. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of Creditors due within one year. |
Tangible fixed assets |
Tangible assets are originally stated at cost. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
PETTIT SINGLETON ASSOCIATES (CUMBRIA) |
LTD (REGISTERED NUMBER: 10786539) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2023 |
2. | ACCOUNTING POLICIES - continued |
Going concern |
These accounts have been prepared on the going concern basis, on the understanding that the directors will continue to financially support the company for the foreseeable future. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1 September 2022 |
and 31 August 2023 |
DEPRECIATION |
At 1 September 2022 |
and 31 August 2023 |
NET BOOK VALUE |
At 31 August 2023 |
At 31 August 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/8/23 | 31/8/22 |
£ | £ |
Trade debtors |
Amounts recoverable on contract |
Amounts due from related parties | 30,000 | 30,000 |
Directors' current accounts | - | 100 |
Deferred tax asset |
Prepayments |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/8/23 | 31/8/22 |
£ | £ |
Trade creditors |
Tax |
VAT | 3,338 | 12,328 |
Amounts owed to related parties | 89,020 | 32,559 |
PETTIT SINGLETON ASSOCIATES (CUMBRIA) |
LTD (REGISTERED NUMBER: 10786539) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2023 |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31/8/23 | 31/8/22 |
value: | £ | £ |
Ordinary | 1 | 100 | 100 |
8. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
As at 31 August 2023, the directors, Mr J Dobson and Mr S Pettit each owe the company £0 (2022: £50 each). |
9. | RELATED PARTY DISCLOSURES |
Pettit Singleton Associates Limited is a company under the control of the Directors. Other creditors includes £89,020 owed to Pettit Singleton Limited. (2022: £32,559). |
PSA Compliance is also under the control of the Directors. Other debtors includes £30,000 owed by PSA Compliance Limited. (2022: £30,000l). |
10. | ULTIMATE CONTROLLING PARTY |
The company is under the control of the Directors but no Director has individual control. |