Registered number
11549914
PDP Licencing Limited
Unaudited Filleted Accounts
30 November 2023
PDP Licencing Limited
Registered number: 11549914
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Current assets
Debtors 3 208,652 184,713
Cash at bank and in hand - 1,400
208,652 186,113
Creditors: amounts falling due within one year 4 (216,802) (147,648)
Net current (liabilities)/assets (8,150) 38,465
Total assets less current liabilities (8,150) 38,465
Creditors: amounts falling due after more than one year 5 (24,997) (29,898)
Net (liabilities)/assets (33,147) 8,567
Capital and reserves
Called up share capital 1 1
Profit and loss account (33,148) 8,566
Shareholders' funds (33,147) 8,567
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 P Thresher
Director
Approved by the board on 28 August 2024
PDP Licencing Limited
Notes to the Accounts
for the year ended 30 November 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).
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 sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services 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.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 3
3 Debtors 2023 2022
£ £
Trade debtors - 2,000
Directors' loan accounts 198,652 182,595
Other debtors 10,000 118
208,652 184,713
4 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 12,554 10,000
Taxation and social security costs 147,710 137,648
Other creditors 56,538 -
216,802 147,648
5 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 24,997 29,898
6 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mr P Thresher
This loan is interest free and repayable on demand, the balance at the year end was repaid within nine months of the year end.
83,632 84,900 (98,000) 70,532
Mr D Lavender
This loan is interest free and repayable on demand, the balance at the year end was repaid within nine months of the year end.
63,445 91,257 (97,000) 57,702
Mr P Lavender
This loan is interest free and repayable on demand, the balance at the year end was repaid within nine months of the year end.
35,518 104,900 (70,000) 70,418
182,595 281,057 (265,000) 198,652
7 Related party transactions
Turnover relates to arms length transactions under a licence agreement with Gates and Fences UK Ltd totalling £365,000 (2022 - £307,500).
8 Controlling party
In the opinion of the directors, the company is controlled by the directors Paul Lavender, David Lavender and Paul Thresher who each hold 1/3 of the issued shares of the company.
9 Other information
PDP Licencing Limited is a private company limited by shares and incorporated in England. Its registered office is:
Duke Court
Bridge Street
Kingsbridge
Devon
TQ7 1HX
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