IRIS Accounts Production v24.2.0.383 04797943 Board of Directors Board of Directors 1.4.23 31.3.24 31.3.24 true false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh047979432023-03-31047979432024-03-31047979432023-04-012024-03-31047979432022-03-31047979432022-04-012023-03-31047979432023-03-3104797943ns15:EnglandWales2023-04-012024-03-3104797943ns14:PoundSterling2023-04-012024-03-3104797943ns10:Director12023-04-012024-03-3104797943ns10:Director22023-04-012024-03-3104797943ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3104797943ns10:SmallEntities2023-04-012024-03-3104797943ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3104797943ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3104797943ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3104797943ns10:FullAccounts2023-04-012024-03-310479794312023-04-012024-03-3104797943ns10:CompanySecretary12023-04-012024-03-3104797943ns10:RegisteredOffice2023-04-012024-03-3104797943ns5:CurrentFinancialInstruments2024-03-3104797943ns5:CurrentFinancialInstruments2023-03-3104797943ns5:ShareCapital2024-03-3104797943ns5:ShareCapital2023-03-3104797943ns5:RetainedEarningsAccumulatedLosses2024-03-3104797943ns5:RetainedEarningsAccumulatedLosses2023-03-3104797943ns5:NetGoodwill2023-04-012024-03-3104797943ns5:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-3104797943ns5:PlantMachinery2023-04-012024-03-3104797943ns5:FurnitureFittings2023-04-012024-03-3104797943ns5:MotorVehicles2023-04-012024-03-3104797943ns5:NetGoodwill2023-03-3104797943ns5:NetGoodwill2024-03-3104797943ns5:NetGoodwill2023-03-3104797943ns5:PlantMachinery2023-03-3104797943ns5:FurnitureFittings2023-03-3104797943ns5:MotorVehicles2023-03-3104797943ns5:PlantMachinery2024-03-3104797943ns5:FurnitureFittings2024-03-3104797943ns5:MotorVehicles2024-03-3104797943ns5:PlantMachinery2023-03-3104797943ns5:FurnitureFittings2023-03-3104797943ns5:MotorVehicles2023-03-3104797943ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3104797943ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3104797943ns10:Director222023-03-3104797943ns10:Director222022-03-3104797943ns10:Director222023-04-012024-03-3104797943ns10:Director222022-04-012023-03-3104797943ns10:Director222024-03-3104797943ns10:Director222023-03-31
REGISTERED NUMBER: 04797943 (England and Wales)






























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

PEX LIMITED

PEX LIMITED (REGISTERED NUMBER: 04797943)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PEX LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mr J P Norton
Mr I J S Kirkman





SECRETARY: Mr I J S Kirkman





REGISTERED OFFICE: Unit 6
Ashville Way
Whetstone
Leicester
Leicestershire
LE8 6NU





REGISTERED NUMBER: 04797943 (England and Wales)

PEX LIMITED (REGISTERED NUMBER: 04797943)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 19,917 28,706
19,917 28,706

CURRENT ASSETS
Stocks 191,009 354,166
Debtors 6 236,614 281,767
Cash at bank 83,601 112,371
511,224 748,304
CREDITORS
Amounts falling due within one year 7 275,565 425,903
NET CURRENT ASSETS 235,659 322,401
TOTAL ASSETS LESS CURRENT
LIABILITIES

255,576

351,107

CAPITAL AND RESERVES
Called up share capital 120,000 120,000
Retained earnings 135,576 231,107
SHAREHOLDERS' FUNDS 255,576 351,107

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

PEX LIMITED (REGISTERED NUMBER: 04797943)

BALANCE SHEET - continued
31 MARCH 2024


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 5 September 2024 and were signed on its behalf by:




Mr I J S Kirkman - Director



Mr J P Norton - Director


PEX LIMITED (REGISTERED NUMBER: 04797943)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Pex 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.

The financial statements are presented in Sterling (£).

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover recognised at the point the goods are dispatched to the customer.

Goodwill
Goodwill is being amortised evenly over its estimated useful life of 20 years.

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 - 20% on cost
Fixtures and fittings - 15% on cost
Motor vehicles - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Fixed asset investments
Fixed asset investments are stated at cost less any provision for reduction in value.

Debtors
Short term trade debtors are measured at transaction price. Other debtors are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

PEX LIMITED (REGISTERED NUMBER: 04797943)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued

Creditors
Short term trade creditors are measured at transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 102,061
AMORTISATION
At 1 April 2023
and 31 March 2024 102,061
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 April 2023
and 31 March 2024 15,916 41,082 30,182 87,180
DEPRECIATION
At 1 April 2023 6,607 33,758 18,109 58,474
Charge for year 2,383 2,381 4,025 8,789
At 31 March 2024 8,990 36,139 22,134 67,263
NET BOOK VALUE
At 31 March 2024 6,926 4,943 8,048 19,917
At 31 March 2023 9,309 7,324 12,073 28,706

PEX LIMITED (REGISTERED NUMBER: 04797943)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 210,476 218,140
Other debtors 26,138 63,627
236,614 281,767

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 48,910 164,063
Taxation and social security 18,543 29,808
Other creditors 208,112 232,032
275,565 425,903

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
Mr J P Norton
Balance outstanding at start of year (3,980 ) (1,404 )
Amounts advanced 3,512 -
Amounts repaid - (2,576 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (468 ) (3,980 )

9. ULTIMATE CONTROLLING PARTY

In the view of the directors the controlling party is Mr JP Norton by way of his directorship and majority shareholding.