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REGISTERED NUMBER: 11450644 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

PCM ACCOUNTING LIMITED

PCM ACCOUNTING LIMITED (REGISTERED NUMBER: 11450644)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


PCM ACCOUNTING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: P J Barber
C Horsley
M Allen
M Chapman
J O James





REGISTERED OFFICE: 2 Jardine House
The Harrovian Business Village
Harrow
Middlesex
HA1 3EX





REGISTERED NUMBER: 11450644 (England and Wales)





ACCOUNTANTS: Barber & Company
A trading name of PCM Accounting Limited
2 Jardine House
Harrovian Business Village
Bessborough Road
Harrow
Middlesex
HA1 3EX

PCM ACCOUNTING LIMITED (REGISTERED NUMBER: 11450644)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 600,000 720,000
Property, plant and equipment 5 28,997 28,865
Investments 6 120,600 120,600
749,597 869,465

CURRENT ASSETS
Inventories 99,017 97,571
Debtors 7 118,849 107,880
Cash at bank 11,637 24,907
229,503 230,358
CREDITORS
Amounts falling due within one year 8 565,712 587,687
NET CURRENT LIABILITIES (336,209 ) (357,329 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

413,388

512,136

CREDITORS
Amounts falling due after more than one
year

9

(15,104

)

(25,074

)

PROVISIONS FOR LIABILITIES 11 (3,808 ) (5,484 )
NET ASSETS 394,476 481,578

CAPITAL AND RESERVES
Called up share capital 12 900 1,000
Retained earnings 13 393,576 480,578
SHAREHOLDERS' FUNDS 394,476 481,578

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

PCM ACCOUNTING LIMITED (REGISTERED NUMBER: 11450644)

STATEMENT OF FINANCIAL POSITION - continued
31 DECEMBER 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 September 2024 and were signed on its behalf by:




M Allen - Director



C Horsley - Director


PCM ACCOUNTING LIMITED (REGISTERED NUMBER: 11450644)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

PCM Accounting 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared in accordance with applicable accounting standards. The particular accounting policies adopted are described below.

Preparation of consolidated financial statements
The financial statements contain information about PCM Accounting Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of ten 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.
Fixtures and fittings - 15% on reducing balance
Computer equipment - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing inventories to their present location and condition.


PCM ACCOUNTING LIMITED (REGISTERED NUMBER: 11450644)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - 14 ).

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 1,200,000
AMORTISATION
At 1 January 2023 480,000
Charge for year 120,000
At 31 December 2023 600,000
NET BOOK VALUE
At 31 December 2023 600,000
At 31 December 2022 720,000

PCM ACCOUNTING LIMITED (REGISTERED NUMBER: 11450644)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 January 2023 15,152 67,805 82,957
Additions 1,479 7,071 8,550
At 31 December 2023 16,631 74,876 91,507
DEPRECIATION
At 1 January 2023 7,272 46,820 54,092
Charge for year 1,404 7,014 8,418
At 31 December 2023 8,676 53,834 62,510
NET BOOK VALUE
At 31 December 2023 7,955 21,042 28,997
At 31 December 2022 7,880 20,985 28,865

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023
and 31 December 2023 120,600
NET BOOK VALUE
At 31 December 2023 120,600
At 31 December 2022 120,600

The company's investments at the Statement of Financial Position date in the share capital of companies include the following:

PC Accounting Services Limited
Registered office: Within the United Kingdom
Nature of business: Trading Company
%
Class of shares: holding
Ordinary shares of £1 each 100.00
31.12.23 31.12.22
£    £   
Aggregate capital and reserves 21,533 15,462
Profit for the year 18,407 22,017

PCM ACCOUNTING LIMITED (REGISTERED NUMBER: 11450644)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 80,180 71,402
Prepayments and accrued income 38,669 36,478
118,849 107,880

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts (see note 10) 10,000 10,000
Trade creditors 10,788 7,718
Corporation Tax 105,613 71,526
Social security and other taxes 7,430 6,518
VAT 54,409 55,283
Directors' current accounts 338,509 428,344
Other creditors and accruals 38,963 8,298
565,712 587,687

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans (see note 10) 15,104 25,074

10. LOANS

An analysis of the maturity of loans is given below:

31.12.23 31.12.22
£    £   
Amounts falling due within one year or on demand:
Bank loans 10,000 10,000

Amounts falling due between one and two years:
Bank loans - 1-2 years 10,000 10,000

Amounts falling due between two and five years:
Bank loans - 2-5 years 5,104 15,074

11. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax 3,808 5,484

PCM ACCOUNTING LIMITED (REGISTERED NUMBER: 11450644)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

11. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 January 2023 5,484
Provided during year (1,676 )
Balance at 31 December 2023 3,808

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
400 Ordinary P £1 90 400
400 Ordinary C £1 486 400
200 Ordinary M £1 324 200
900 1,000

13. RESERVES
Retained
earnings
£   

At 1 January 2023 480,578
Profit for the year 152,998
Dividends (140,000 )
Purchase of own shares (100,000 )
At 31 December 2023 393,576