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REGISTERED NUMBER: 05287500 (England and Wales)















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: Mr M I Norris
Mr J L Rospo





SECRETARIES: Mrs M M Norris
Mrs A J Rospo





REGISTERED OFFICE: Suites 5 & 6 The Printworks
Hey Road
Barrow
Clitheroe
Lancashire
BB7 9WB





REGISTERED NUMBER: 05287500 (England and Wales)





ACCOUNTANTS: Bennett Kirkhope Smith
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 47,983 43,430
47,983 43,430

CURRENT ASSETS
Stocks 6 134,846 137,001
Debtors 7 806,647 749,383
Investments 8 1,530 1,530
Cash at bank 161,458 315,249
1,104,481 1,203,163
CREDITORS
Amounts falling due within one year 9 524,078 469,116
NET CURRENT ASSETS 580,403 734,047
TOTAL ASSETS LESS CURRENT
LIABILITIES

628,386

777,477

CREDITORS
Amounts falling due after more than one
year

10

(17,355

)

(27,275

)

PROVISIONS FOR LIABILITIES 11 (13,553 ) (9,314 )
NET ASSETS 597,478 740,888

CAPITAL AND RESERVES
Called up share capital 12 112 112
Retained earnings 597,366 740,776
SHAREHOLDERS' FUNDS 597,478 740,888

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

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 have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 August 2024 and were signed on its behalf by:




Mr J L Rospo - Director



Mr M I Norris - Director


Pierra Limited (Registered number: 05287500)

Notes to the Financial Statements
for the Year Ended 30 November 2023


1. STATUTORY INFORMATION

Pierra Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% on cost

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 13 (2022 - 14 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2022
and 30 November 2023 70,000
AMORTISATION
At 1 December 2022
and 30 November 2023 70,000
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 68,274 5,479 18,331 92,084
Additions 15,116 - - 15,116
At 30 November 2023 83,390 5,479 18,331 107,200
DEPRECIATION
At 1 December 2022 32,298 3,737 12,619 48,654
Charge for year 6,878 262 3,423 10,563
At 30 November 2023 39,176 3,999 16,042 59,217
NET BOOK VALUE
At 30 November 2023 44,214 1,480 2,289 47,983
At 30 November 2022 35,976 1,742 5,712 43,430

6. STOCKS
30.11.23 30.11.22
£    £   
Work-in-progress 134,846 137,001

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade debtors 339,695 279,483
Amounts owed by group undertakings 251,520 271,714
Retentions 173,028 173,554
Other debtors 125 -
Prepayments 42,279 24,632
806,647 749,383

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 9,960 9,833
Trade creditors 180,456 173,322
Corporation tax 29,360 29,763
Social security and other taxes 35,876 28,819
VAT 100,978 119,735
Credit card 2,518 7,472
Accrued expenses 164,930 100,172
524,078 469,116

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.23 30.11.22
£    £   
Bank loans due between one and two
years

10,332

10,082
Bank loans due between two and five
years

7,023

17,193
17,355 27,275

11. PROVISIONS FOR LIABILITIES
30.11.23 30.11.22
£    £   
Deferred tax 13,553 9,314

Deferred
tax
£   
Balance at 1 December 2022 9,314
Charge to Income Statement during year 4,239
Balance at 30 November 2023 13,553

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.11.23 30.11.22
value: £    £   
100 A Ordinary £1 100 100
6 B Ordinary £1 6 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.