Company registration number 11901272 (England and Wales)
PROVOST DEVELOPMENTS (BOUGHROOD) LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
PROVOST DEVELOPMENTS (BOUGHROOD) LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
PROVOST DEVELOPMENTS (BOUGHROOD) LTD
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
20
20
Cash at bank and in hand
245
1,314
265
1,334
Creditors: amounts falling due within one year
3
(104,665)
(93,070)
Net current liabilities
(104,400)
(91,736)
Creditors: amounts falling due after more than one year
4
(29,023)
(34,676)
Net liabilities
(133,423)
(126,412)
Capital and reserves
Called up share capital
5
3
3
Profit and loss reserves
(133,426)
(126,415)
Total equity
(133,423)
(126,412)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 13 August 2024 and are signed on its behalf by:
Mr M P Hoyle
Director
Company registration number 11901272 (England and Wales)
PROVOST DEVELOPMENTS (BOUGHROOD) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information
Provost Developments (Boughrood) Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 147 Whiteladies Road, Bristol, BS8 2QT.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
3
3
PROVOST DEVELOPMENTS (BOUGHROOD) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
3
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
5,699
5,693
Amounts owed to group undertakings
97,870
86,302
Other creditors
1,096
1,075
104,665
93,070
4
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
29,023
34,676
Creditors which fall due after five years are as follows:
2024
2023
£
£
Payable by instalments
-
5,693
5
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
3
3
3
3
6
Parent company
The parent company is Provost Holdings Limited, whose registered office address is 147 Whiteladies Road, Bristol, BS8 2QT.