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2022-09-01
Sage Accounts Production Advanced 2023 - FRS102_2023
346
342
688
86
86
260
xbrli:pure
xbrli:shares
iso4217:GBP
12804258
2022-09-01
2023-08-31
12804258
2023-08-31
12804258
2022-08-31
12804258
2021-09-01
2022-08-31
12804258
2022-08-31
12804258
2021-08-31
12804258
bus:LeadAgentIfApplicable
2022-09-01
2023-08-31
12804258
bus:Director1
2022-09-01
2023-08-31
12804258
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2023-08-31
12804258
core:WithinOneYear
2022-08-31
12804258
core:ShareCapital
2023-08-31
12804258
core:ShareCapital
2022-08-31
12804258
core:RetainedEarningsAccumulatedLosses
2023-08-31
12804258
core:RetainedEarningsAccumulatedLosses
2022-08-31
12804258
bus:Director1
2022-08-31
12804258
bus:Director1
2023-08-31
12804258
bus:Director1
2021-08-31
12804258
bus:Director1
2022-08-31
12804258
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2021-09-01
2022-08-31
12804258
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2022-09-01
2023-08-31
12804258
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2022-09-01
2023-08-31
12804258
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2022-09-01
2023-08-31
12804258
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2022-09-01
2023-08-31
12804258
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2022-09-01
2023-08-31
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2022-09-01
2023-08-31
12804258
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2022-08-31
COMPANY REGISTRATION NUMBER:
12804258
Petersfield Builders Limited |
|
Filleted Unaudited Financial Statements |
|
Petersfield Builders Limited |
|
Chartered Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of
Petersfield Builders Limited |
|
Year to cessation ended 31 August 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Petersfield Builders Limited for the year to cessation ended 31 August 2023, which comprise the balance sheet and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the director of Petersfield Builders Limited in accordance with the terms of our engagement letter dated 17 September 2020. Our work has been undertaken solely to prepare for your approval the financial statements of Petersfield Builders Limited and state those matters that we have agreed to state to you in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Petersfield Builders Limited and its director for our work or for this report.
It is your duty to ensure that Petersfield Builders Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Petersfield Builders Limited. You consider that Petersfield Builders Limited is exempt from the statutory audit requirement for the year to cessation. We have not been instructed to carry out an audit or a review of the financial statements of Petersfield Builders Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
MILLER DAVIES LLP
Chartered Accountants
A3 Broomsleigh Business Park
Worsley Bridge Road
London
SE26 5BN
29 August 2024
Petersfield Builders Limited |
|
31 August 2023
Fixed assets
Current assets
Debtors |
6 |
4,767 |
1,728 |
Cash at bank and in hand |
6 |
34,905 |
|
------- |
-------- |
|
4,773 |
36,633 |
|
|
|
|
Creditors: amounts falling due within one year |
7 |
20,778 |
17,710 |
|
-------- |
-------- |
Net current (liabilities)/assets |
(
16,005) |
18,923 |
|
-------- |
-------- |
Total assets less current liabilities |
(
16,005) |
19,183 |
|
-------- |
-------- |
Net (liabilities)/assets |
(
16,005) |
19,183 |
|
-------- |
-------- |
|
|
|
|
Capital and reserves
Called up share capital |
1 |
1 |
Profit and loss account |
(
16,006) |
19,182 |
|
-------- |
-------- |
Shareholders (deficit)/funds |
(
16,005) |
19,183 |
|
-------- |
-------- |
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
For the year to cessation ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year to cessation in question in accordance with section 476
;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
These financial statements were approved by the
board of directors
and authorised for issue on
29 August 2024
, and are signed on behalf of the board by:
Company registration number:
12804258
Petersfield Builders Limited |
|
Notes to the Financial Statements |
|
Year to cessation ended 31 August 2023
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is A3 Broomsleigh Business Park, Worsley Bridge Road, London, SE26 5BN, England.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Equipment |
- |
25% straight line |
|
|
|
|
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4.
Employee numbers
The average number of persons employed by the company during the year to cessation amounted to
2
(2022:
1
).
5.
Tangible assets
|
Equipment |
|
£ |
Cost |
|
At 1 September 2022 |
346 |
Additions |
342 |
Disposals |
(
688) |
|
---- |
At 31 August 2023 |
– |
|
---- |
Depreciation |
|
At 1 September 2022 |
86 |
Disposals |
(
86) |
|
---- |
At 31 August 2023 |
– |
|
---- |
Carrying amount |
|
At 31 August 2023 |
– |
|
---- |
At 31 August 2022 |
260 |
|
---- |
|
|
6.
Debtors
|
2023 |
2022 |
|
£ |
£ |
Trade debtors |
– |
706 |
Other debtors |
4,767 |
1,022 |
|
------- |
------- |
|
4,767 |
1,728 |
|
------- |
------- |
|
|
|
7.
Creditors:
amounts falling due within one year
|
2023 |
2022 |
|
£ |
£ |
Trade creditors |
– |
1,385 |
Corporation tax |
– |
3,483 |
Social security and other taxes |
15 |
2,001 |
Other creditors |
20,763 |
10,841 |
|
-------- |
-------- |
|
20,778 |
17,710 |
|
-------- |
-------- |
|
|
|
8.
Financial instruments
The carrying amount for each category of financial instrument is as follows:
Financial assets measured at fair value through profit or loss
Financial assets measured at fair value through profit or loss |
6 |
35,610 |
|
---- |
-------- |
|
|
|
Financial liabilities measured at fair value through profit or loss
Financial liabilities measured at fair value through profit or loss |
20,764 |
12,226 |
|
-------- |
-------- |
|
|
|
9.
Director's advances, credits and guarantees
During the year to cessation the director entered into the following advances and credits with the company:
|
2023 |
|
|
Balance brought forward |
Advances/ (credits) to the director |
Balance outstanding |
|
|
£ |
£ |
£ |
|
Mr AT White |
(
9,341) |
(
9,922) |
(
19,263) |
|
|
------- |
------- |
-------- |
|
|
|
|
|
|
2022 |
|
|
Balance brought forward |
Advances/ (credits) to the director |
Balance outstanding |
|
|
£ |
£ |
£ |
|
Mr AT White |
(
10,375) |
1,034 |
(
9,341) |
|
|
-------- |
------- |
------- |
|
|
|
|
|