REGISTERED NUMBER: |
Financial Statements for the Year Ended 30 November 2023 |
for |
Pierra Limited |
REGISTERED NUMBER: |
Financial Statements for the Year Ended 30 November 2023 |
for |
Pierra Limited |
Pierra Limited (Registered number: 05287500) |
Contents of the Financial Statements |
for the Year Ended 30 November 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Pierra Limited |
Company Information |
for the Year Ended 30 November 2023 |
DIRECTORS: |
SECRETARIES: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
Suites 5 & 6 The Printworks |
Hey Road |
Barrow |
Clitheroe |
Lancashire |
BB7 9WB |
Pierra Limited (Registered number: 05287500) |
Balance Sheet |
30 November 2023 |
30.11.23 | 30.11.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks | 6 |
Debtors | 7 |
Investments | 8 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 9 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
10 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 11 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 12 |
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. |
Pierra Limited (Registered number: 05287500) |
Balance Sheet - continued |
30 November 2023 |
The financial statements were approved by the Board of Directors and authorised for issue on |
Pierra Limited (Registered number: 05287500) |
Notes to the Financial Statements |
for the Year Ended 30 November 2023 |
1. | STATUTORY INFORMATION |
Pierra Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents net invoiced sales of goods and services, excluding value added tax, except in respect of long term contracts where turnover is recognised when the company obtains the right to consideration. |
Goodwill |
Goodwill, being the amount paid in connection with the acquisition of a business in 2007 has been fully amortised over its estimated useful economic life. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Plant and machinery | - |
Fixtures and fittings | - |
Computer equipment | - |
Stocks |
Work in progress is valued at the lower of cost and net realisable value, except in respect of long term contracts where work in progress is recognised based on valuations of the percentage of work completed, on each contract at the year end. |
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. |
Pierra Limited (Registered number: 05287500) |
Notes to the Financial Statements - continued |
for the Year Ended 30 November 2023 |
2. | ACCOUNTING POLICIES - continued |
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. |
Retentions |
Retentions are shown within debtors and are calculated as a percentage of the long term contract valuations at the year end. |
Investments |
Current asset investments are stated at fair value. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 December 2022 |
and 30 November 2023 |
AMORTISATION |
At 1 December 2022 |
and 30 November 2023 |
NET BOOK VALUE |
At 30 November 2023 |
At 30 November 2022 |
Pierra Limited (Registered number: 05287500) |
Notes to the Financial Statements - continued |
for the Year Ended 30 November 2023 |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Computer |
machinery | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 December 2022 |
Additions |
At 30 November 2023 |
DEPRECIATION |
At 1 December 2022 |
Charge for year |
At 30 November 2023 |
NET BOOK VALUE |
At 30 November 2023 |
At 30 November 2022 |
6. | STOCKS |
30.11.23 | 30.11.22 |
£ | £ |
Work-in-progress |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.11.23 | 30.11.22 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Retentions |
Other debtors | 125 | - |
Prepayments |
8. | CURRENT ASSET INVESTMENTS |
30.11.23 | 30.11.22 |
£ | £ |
Unlisted investments | 1,530 | 1,530 |
In the opinion of the directors, the fair value of the unlisted investments is not materially different to its original cost. |
Pierra Limited (Registered number: 05287500) |
Notes to the Financial Statements - continued |
for the Year Ended 30 November 2023 |
9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.11.23 | 30.11.22 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Corporation tax |
Social security and other taxes |
VAT | 100,978 | 119,735 |
Credit card | 2,518 | 7,472 |
Accrued expenses |
10. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.11.23 | 30.11.22 |
£ | £ |
Bank loans due between one and two years |
Bank loans due between two and five years |
11. | PROVISIONS FOR LIABILITIES |
30.11.23 | 30.11.22 |
£ | £ |
Deferred tax | 13,553 | 9,314 |
Deferred |
tax |
£ |
Balance at 1 December 2022 |
Charge to Income Statement during year |
Balance at 30 November 2023 |
12. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.11.23 | 30.11.22 |
value: | £ | £ |
A Ordinary | £1 | 100 | 100 |
B Ordinary | £1 | 6 | 6 |
C Ordinary | £1 | 6 | 6 |
112 | 112 |
13. | ULTIMATE CONTROLLING PARTY |
Pierra Group Ltd is regarded by the directors as being the company's ultimate parent company. |