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Company registration number: 10583638
Pepperpot Lettings Ltd
Unaudited filleted financial statements
31 January 2023
Pepperpot Lettings Ltd
Contents
Statement of financial position
Notes to the financial statements
Pepperpot Lettings Ltd
Statement of financial position
31 January 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 284 -
_______ _______
284 -
Current assets
Debtors 6 33,208 38,001
Cash at bank and in hand 31,148 9,875
_______ _______
64,356 47,876
Creditors: amounts falling due
within one year 7 ( 49,564) ( 27,275)
_______ _______
Net current assets 14,792 20,601
_______ _______
Total assets less current liabilities 15,076 20,601
Creditors: amounts falling due
after more than one year 8 ( 14,500) ( 20,500)
Provisions for liabilities ( 54) -
_______ _______
Net assets 522 101
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 422 1
_______ _______
Shareholders funds 522 101
_______ _______
For the year ending 31 January 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 in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 16 August 2024 , and are signed on behalf of the board by:
Ms Elizabeth Clare Hughes
Director
Company registration number: 10583638
Pepperpot Lettings Ltd
Notes to the financial statements
Year ended 31 January 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 4 Cornhouse Buidings, Claydons Lane, Rayleigh, Essex, SS6 7UP.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Turnover
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.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are 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 capital and reserves, 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 capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves 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:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
4. Staff costs
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
The aggregate payroll costs incurred during the year were:
2023 2022
£ £
Wages and salaries 7,200 4,800
_______ _______
5. Tangible assets
Fixtures, fittings and equipment Total
£ £
Cost
At 1 February 2022 - -
Additions 316 316
_______ _______
At 31 January 2023 316 316
_______ _______
Depreciation
At 1 February 2022 - -
Charge for the year 32 32
_______ _______
At 31 January 2023 32 32
_______ _______
Carrying amount
At 31 January 2023 284 284
_______ _______
At 31 January 2022 - -
_______ _______
6. Debtors
2023 2022
£ £
Other debtors 33,208 38,001
_______ _______
7. Creditors: amounts falling due within one year
2023 2022
£ £
Bank loans and overdrafts 6,000 6,000
Trade creditors 402 282
Corporation tax 26,311 15,239
Social security and other taxes 13,908 3,288
Other creditors 2,943 2,466
_______ _______
49,564 27,275
_______ _______
8. Creditors: amounts falling due after more than one year
2023 2022
£ £
Bank loans and overdrafts 14,500 20,500
_______ _______
9. Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2023
Balance brought forward Advances /(credits) to the director Balance o/standing
£ £ £
Ms Elizabeth Clare Hughes 28,056 ( 3,298) 24,758
_______ _______ _______
2022
Balance brought forward Advances /(credits) to the director Balance o/standing
£ £ £
Ms Elizabeth Clare Hughes - 28,056 28,056
_______ _______ _______