Registered number
12444614
PM David Wall & Floor Tiling Limited
Filleted Accounts
31 July 2024
PM David Wall & Floor Tiling Limited
Registered number: 12444614
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 8,388 2,991
Current assets
Stocks 960 -
Debtors 4 10,673 30,894
Cash at bank and in hand 28,326 20,490
39,959 51,384
Creditors: amounts falling due within one year 5 (27,177) (36,350)
Net current assets 12,782 15,034
Net assets 21,170 18,025
Capital and reserves
Called up share capital 100 100
Profit and loss account 21,070 17,925
Shareholders' funds 21,170 18,025
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
PM David
Director
Approved by the board on 9 September 2024
PM David Wall & Floor Tiling Limited
Notes to the Accounts
for the year ended 31 July 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Current tax liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 August 2023 3,290 2,595 5,885
Additions 567 8,250 8,817
Disposals - (2,395) (2,395)
At 31 July 2024 3,857 8,450 12,307
Depreciation
At 1 August 2023 1,337 1,557 2,894
Charge for the year 772 1,690 2,462
On disposals - (1,437) (1,437)
At 31 July 2024 2,109 1,810 3,919
Net book value
At 31 July 2024 1,748 6,640 8,388
At 31 July 2023 1,953 1,038 2,991
4 Debtors 2024 2023
£ £
Trade debtors 10,023 12,323
Other debtors 650 18,571
10,673 30,894
5 Creditors: amounts falling due within one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts - 2,447
Trade creditors 9,339 1,219
Taxation and social security costs 16,870 32,005
Other creditors 968 679
27,177 36,350
6 Controlling party
The company is controlled by PM David.
7 Other information
PM David Wall & Floor Tiling Limited is a private company limited by shares and incorporated in England. Its registered office is:
34 Ringwood Road
Walkford
Christchurch
Dorset
BH23 5RD
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