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Registration number: 08075044

PPK Timber Designs Ltd

Unaudited Financial Statements

for the Year Ended 31 May 2024

 

PPK Timber Designs Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

PPK Timber Designs Ltd

Company Information

Directors

P Kemmish

B Summerell

Registered office

53 Lyefield Road
Worle
Weston-Super-Mare
Somerset
BS22 9NX

Accountants

Four Fifty Partnership
Chartered Accountants
34 Boulevard
Weston-super-Mare
Somerset
BS23 1NF

 

PPK Timber Designs Ltd

(Registration number: 08075044)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

3,493

4,696

Current assets

 

Debtors

5

34,259

37,271

Cash at bank and in hand

 

115,212

61,230

 

149,471

98,501

Creditors: Amounts falling due within one year

6

(79,782)

(49,894)

Net current assets

 

69,689

48,607

Total assets less current liabilities

 

73,182

53,303

Provisions for liabilities

(873)

(893)

Net assets

 

72,309

52,410

Capital and reserves

 

Called up share capital

100

100

Retained earnings

72,209

52,310

Shareholders' funds

 

72,309

52,410

For the financial year ending 31 May 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.

 

PPK Timber Designs Ltd

(Registration number: 08075044)
Balance Sheet as at 31 May 2024

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 15 August 2024 and signed on its behalf by:
 

.........................................
P Kemmish
Director

 

PPK Timber Designs Ltd

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

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.

The presentational currency of the financial statements is the Pound Sterling (£).

Revenue recognition

Turnover represents the net invoiced sales of services, excluding value added tax, except in respect of service contracts where turnover is recognised when the company obtains the right to consideration.

Tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

 

PPK Timber Designs Ltd

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

2

Accounting policies (continued)

Depreciation

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is shorter.

Asset class

Depreciation method and rate

Computer equipment

33% straight line

Plant, fixtures and fittings

15% reducing balance

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.

Financial instruments

Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company, after deducting all liabilities.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 3).

 

PPK Timber Designs Ltd

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

4

Tangible assets

Computer equipment
 £

Plant, fixtures and fittings
£

Total
£

Cost or valuation

At 1 June 2023

35,210

7,241

42,451

Additions

258

-

258

At 31 May 2024

35,468

7,241

42,709

Depreciation

At 1 June 2023

32,467

5,288

37,755

Charge for the year

1,168

293

1,461

At 31 May 2024

33,635

5,581

39,216

Carrying amount

At 31 May 2024

1,833

1,660

3,493

At 31 May 2023

2,743

1,953

4,696

 

PPK Timber Designs Ltd

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

5

Debtors

Current

2024
£

2023
£

Trade debtors

30,852

29,892

Prepayments

1,532

7,379

Other debtors

1,875

-

 

34,259

37,271

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

-

192

Taxation and social security

46,656

26,742

Accruals and deferred income

1,627

2,587

Other creditors

31,499

20,373

79,782

49,894