BrightAccountsProduction v1.0.0 v1.0.0 2023-02-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is the repair and refurbishing of lorries. 16 May 2024 NI044647 2024-01-31 NI044647 2023-01-31 NI044647 2022-01-31 NI044647 2023-02-01 2024-01-31 NI044647 2022-02-01 2023-01-31 NI044647 uk-bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 NI044647 uk-curr:PoundSterling 2023-02-01 2024-01-31 NI044647 uk-bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 NI044647 uk-bus:FullAccounts 2023-02-01 2024-01-31 NI044647 uk-bus:CompanySecretaryDirector1 2023-02-01 2024-01-31 NI044647 uk-bus:Director2 2023-02-01 2024-01-31 NI044647 uk-bus:CompanySecretary1 2023-02-01 2024-01-31 NI044647 uk-bus:RegisteredOffice 2023-02-01 2024-01-31 NI044647 uk-bus:Agent1 2023-02-01 2024-01-31 NI044647 uk-core:ShareCapital 2024-01-31 NI044647 uk-core:ShareCapital 2023-01-31 NI044647 uk-core:RetainedEarningsAccumulatedLosses 2024-01-31 NI044647 uk-core:RetainedEarningsAccumulatedLosses 2023-01-31 NI044647 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-01-31 NI044647 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-01-31 NI044647 uk-bus:FRS102 2023-02-01 2024-01-31 NI044647 uk-core:LandBuildings 2023-02-01 2024-01-31 NI044647 uk-core:PlantMachinery 2023-02-01 2024-01-31 NI044647 uk-core:FurnitureFittingsToolsEquipment 2023-02-01 2024-01-31 NI044647 uk-core:CurrentFinancialInstruments 2024-01-31 NI044647 uk-core:CurrentFinancialInstruments 2023-01-31 NI044647 uk-core:WithinOneYear 2024-01-31 NI044647 uk-core:WithinOneYear 2023-01-31 NI044647 uk-core:WithinOneYear 2024-01-31 NI044647 uk-core:WithinOneYear 2023-01-31 NI044647 2023-02-01 2024-01-31 NI044647 uk-bus:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Company Registration Number: NI044647
 
 
P & D Refurbishing Limited
 
Unaudited Financial Statements
 
for the financial year ended 31 January 2024
P & D Refurbishing Limited
DIRECTORS AND OTHER INFORMATION

 
Directors Darren Mone
Lassarina Mone
 
 
Company Secretary Darren Mone
 
 
Company Registration Number NI044647
 
 
Registered Office and Business Address 205 Castleblaney Road
Keady
Co. Armagh
BT60 3HY
Northern Ireland
 
 
Accountants MG accountants
(Portadown)
25-27 Carleton Street
Portadown
Co. Armagh
BT62 3EP
Northern Ireland
 
 
Bankers Bank of Ireland
  24 Scotch Street
  BT70 1AR
  United Kingdom
 
   
Solicitors R J Kempton
  23 College Street
  Armagh
  Co Armagh
  BT61 9BT



P & D Refurbishing Limited
Company Registration Number: NI044647
BALANCE SHEET
as at 31 January 2024

2024 2023
Notes £ £
 
Fixed Assets
Tangible assets 4 75,879 14,143
───────── ─────────
 
Current Assets
Stocks 5 60,471 192,032
Debtors 6 781,822 320,479
Cash and cash equivalents 15,477 35,878
───────── ─────────
857,770 548,389
───────── ─────────
Creditors: amounts falling due within one year 7 (1,044,830) (788,523)
───────── ─────────
Net Current Liabilities (187,060) (240,134)
───────── ─────────
Total Assets less Current Liabilities (111,181) (225,991)
═════════ ═════════
 
Capital and Reserves
Called up share capital 2 2
Retained earnings (111,183) (225,993)
───────── ─────────
Equity attributable to owners of the company (111,181) (225,991)
═════════ ═════════
 
The financial statements have been prepared 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 company has taken advantage of the exemption under section 444 not to file the Profit and Loss Account and Directors' Report.
           
For the financial year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Board and authorised for issue on 16 May 2024 and signed on its behalf by
           
           
           
________________________________          
Darren Mone          
Director          
           



P & D Refurbishing Limited
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 January 2024

   
1. General Information
 
P & D Refurbishing Limited is a company limited by shares incorporated in Northern Ireland.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the year ended 31 January 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover represents the total invoice value, excluding value added tax, of services provided during the year. Revenue is recognised following the completion or delivery of the services provided.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Land and buildings freehold - 2% Straight line
  Plant and machinery - 10% Reducing balance
  Fixtures, fittings and equipment - 25% straight line
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Stocks
Stocks are valued at the lower of cost and net realisable value.  Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition.  Full provision is made for obsolete and slow moving items.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Employees
 
The average monthly number of employees, including directors, during the financial year was 12, (2023 - 12).
 
  2024 2023
  Number Number
 
Directors 2 2
Full-time 10 10
  ───────── ─────────
  12 12
  ═════════ ═════════
           
4. Tangible assets
  Land and Plant and Fixtures, Total
  buildings machinery fittings and  
  freehold   equipment  
  £ £ £ £
Cost or Valuation
At 1 February 2023 283,689 32,694 9,000 325,383
Additions - 67,750 - 67,750
  ───────── ───────── ───────── ─────────
At 31 January 2024 283,689 100,444 9,000 393,133
  ───────── ───────── ───────── ─────────
Depreciation
At 1 February 2023 283,689 27,551 - 311,240
Charge for the financial year - 4,214 1,800 6,014
  ───────── ───────── ───────── ─────────
At 31 January 2024 283,689 31,765 1,800 317,254
  ───────── ───────── ───────── ─────────
Net book value
At 31 January 2024 - 68,679 7,200 75,879
  ═════════ ═════════ ═════════ ═════════
At 31 January 2023 - 5,143 9,000 14,143
  ═════════ ═════════ ═════════ ═════════
       
5. Stocks 2024 2023
  £ £
 
Finished goods and goods for resale 60,471 192,032
  ═════════ ═════════
 
The replacement cost of stock did not differ significantly from the figures shown.
       
6. Debtors 2024 2023
  £ £
 
Trade debtors 29,496 34,723
Amounts owed by connected parties (Note 9) 745,196 240,335
Other debtors 7,130 706
Taxation  (Note 8) - 8,636
Prepayments and accrued income - 36,079
  ───────── ─────────
  781,822 320,479
  ═════════ ═════════
       
7. Creditors 2024 2023
Amounts falling due within one year £ £
 
Bank overdrafts 21,945 -
Bank loan - 2,047
Trade creditors 75,586 59,894
Amounts owed to connected parties (Note 9) 806,979 720,012
Taxation  (Note 8) 106,864 3,864
Accruals 33,456 2,706
  ───────── ─────────
  1,044,830 788,523
  ═════════ ═════════
       
8. Taxation 2024 2023
  £ £
 
Debtors:
VAT - 8,636
  ═════════ ═════════
Creditors:
VAT 93,784 -
Corporation tax 13,080 3,864
  ───────── ─────────
  106,864 3,864
  ═════════ ═════════
           
9. Related party transactions
  Balance Movement Balance Maximum
  2024 in year 2023 in year
  £ £ £ £
 
Motor Vehicle Transportation Limited 745,196 504,861 240,335 334,164
 
The following amounts are due to other connected parties:
      2024 2023
      £ £
 
P & D Refurbishment Ireland Limited     236,266 239,688
PDS Services Limited     570,713 480,324
      ───────── ─────────
      806,979 720,012
      ═════════ ═════════
 
Net balances with other connected parties:
      2024 2023
      £ £
 
Motor Vehicle Transportation Limited     745,196 240,335
P & D Refurbishment Ireland Limited     (236,266) (239,688)
PDS Services Limited     (570,713) (480,324)
      ───────── ─────────
      (61,783) (479,677)
      ═════════ ═════════