2023-01-01 02178799 2023-12-31 02178799 2023-01-01 2023-12-31 02178799 2022-12-31 02178799 2022-01-01 2022-12-31 02178799 uk-core:WithinOneYear 2022-12-31 02178799 uk-core:WithinOneYear 2023-12-31 02178799 uk-core:ShareCapital 2023-12-31 02178799 uk-core:ShareCapital 2022-12-31 02178799 uk-core:RevaluationReserve 2023-12-31 02178799 uk-core:RevaluationReserve 2022-12-31 02178799 uk-core:RetainedEarningsAccumulatedLosses 2023-12-31 02178799 uk-core:RetainedEarningsAccumulatedLosses 2022-12-31 02178799 uk-bus:Director1 2023-01-01 2023-12-31 02178799 uk-core:Goodwill 2023-01-01 2023-12-31 02178799 uk-core:Goodwill 2023-12-31 iso4217:GBP xbrli:pure 02178799 uk-bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 02178799 uk-bus:FRS102 2023-01-01 2023-12-31 02178799 uk-bus:FilletedAccounts 2023-01-01 2023-12-31 02178799 uk-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31
Principal Bond Limited
Registered Number:02178799
For the year ended 31 December 2023
England and Wales
Unaudited Financial Statements
2
Registered Number :
02178799
As at 31 December 2023
Principal Bond Limited
Statement of Financial Position
£
£
2022
2023
Notes
Fixed assets
Intangible assets
60,000
60,000
2
Property, plant and equipment
4,537
5,338
3
64,537
65,338
Current assets
36,935
Cash and cash equivalents
12,903
12,903
36,935
Trade and other payables: amounts falling due within one
year
(19,646)
(14,172)
4
17,289
(1,269)
Net current liabilities
Total assets less current liabilities
63,268
82,627
63,268
Net assets
82,627
Capital and reserves
Called up share capital
1,000
1,000
Revaluation reserve
60,000
60,000
5
Retained earnings
2,268
21,627
63,268
82,627
Shareholders' funds
For the year ended 31 December 2023 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
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 director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section
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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Mr Philip John Godwin Director
These financial statements were approved and authorised for issue by the Board on 12 September 2024 and were signed by:
The notes form part of these financial statements
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3
For the year ended 31 December 2023
Principal Bond Limited
Notes to the Financial Statements
Statutory Information
Principal Bond Limited is a private limited company, limited by shares, domiciled in England and Wales, registration
number 02178799.
Principal place of business:
24 St. Mary's Road
Teignmouth
Devon
TQ14 9LY
Registered address:
48 The Causeway
Chippenham
Wiltshire
SN15 3DD
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
2. Intangible fixed assets
Goodwill
Cost or valuation
£
Transfers
60,000
At 31 December 2023
60,000
Net book value
At 31 December 2023
60,000
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4
For the year ended 31 December 2023
Principal Bond Limited
Notes to the Financial Statements Continued
3. Property, plant and equipment
Fixtures and
fittings
£
Cost or
valuation
At 01 January 2023
27,536
At 31 December 2023
27,536
Provision for depreciation and impairment
At 01 January 2023
22,198
Charge for year
801
At 31 December 2023
22,999
At 31 December 2023
Net book value
4,537
At 31 December 2022
5,338
4. Trade and other payables: amounts falling due within one year
2022
2023
£
£
Trade creditors
11,983
11,983
Taxation and social security
1,889
7,363
Other creditors
300
300
14,172
19,646
5. Reserves
Total
£
Revaluation reserve at 01 January 2023
-
Transfers to/from other reserves
60,000
60,000
Revaluation reserve at 31 December 2023
6. Average number of persons employed
During the year the average number of employees was 2 (2022 : 2)
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