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Registration number: 02814662

Pyramid Europa Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

 

Pyramid Europa Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 10

 

Pyramid Europa Limited

Company Information

Directors

Mr S R Alsford

Mrs E F Alsford

Company secretary

Mr R M A Andrews

Registered office

The White Lodge
Mark Way
Godalming
Surrey
GU7 2BQ

Accountants

Andrews & O'Shea Ltd
Accountants
Optima House
Spindle Way
Crawley
West Sussex
RH10 1TT

 

Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Pyramid Europa Limited
for the Year Ended 31 March 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Pyramid Europa Limited for the year ended 31 March 2024 as set out on pages 3 to 10 from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Pyramid Europa Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Pyramid Europa Limited and state those matters that we have agreed to state to the Board of Directors of Pyramid Europa Limited, as a body, in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Pyramid Europa Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Pyramid Europa Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Pyramid Europa Limited. You consider that Pyramid Europa Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Pyramid Europa 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 accounts.

......................................

Andrews & O'Shea Ltd
Accountants
Optima House
Spindle Way
Crawlwy
West Sussex
RH10 1TT

6 September 2024

 

Pyramid Europa Limited

(Registration number: 02814662)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

1,185

871

Current assets

 

Stocks

6

5,364

4,729

Debtors

7

4,581

1,654

Cash at bank and in hand

 

4,388

2,679

 

14,333

9,062

Creditors: Amounts falling due within one year

8

(2,889)

(2,396)

Net current assets

 

11,444

6,666

Total assets less current liabilities

 

12,629

7,537

Provisions for liabilities

(225)

(166)

Net assets

 

12,404

7,371

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

12,304

7,271

Shareholders' funds

 

12,404

7,371

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 6 September 2024 and signed on its behalf by:
 

.........................................
Mr S R Alsford
Director

 

Pyramid Europa Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
The White Lodge
Mark Way
Godalming
Surrey
GU7 2BQ

These financial statements were authorised for issue by the Board on 6 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Pyramid Europa Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

25% per annum - reducing balance

Computer equipment

33.33% per annum - straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Pyramid Europa Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Pyramid Europa Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

919

1,683

 

Pyramid Europa Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2023

23,466

23,466

Additions

1,233

1,233

At 31 March 2024

24,699

24,699

Depreciation

At 1 April 2023

22,595

22,595

Charge for the year

919

919

At 31 March 2024

23,514

23,514

Carrying amount

At 31 March 2024

1,185

1,185

At 31 March 2023

871

871

6

Stocks

2024
£

2023
£

Other inventories

5,364

4,729

7

Debtors

Current

2024
£

2023
£

Trade debtors

4,394

830

Other debtors

187

824

 

4,581

1,654

 

Pyramid Europa Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

719

1,231

Taxation and social security

 

1,120

165

Accruals and deferred income

 

1,050

1,000

 

2,889

2,396

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

10

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Other borrowings

719

1,231

 

Pyramid Europa Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

11

Related party transactions

2024

At 1 April 2023
£

Advances to director
£

Other payments made to company by director
£

At 31 March 2024
£

Mr S R Alsford

Interest free loan

(1,231)

3,964

(3,452)

(719)

2023

At 1 April 2022
£

Advances to director
£

Other payments made to company by director
£

At 31 March 2023
£

Mr S R Alsford

Interest free loan

-

2,610

(3,841)

(1,231)