Panel Edge Products (Holdings) Limited |
Notes to the Accounts |
for the year ended 31 December 2023 |
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1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102 ( as applicable to small entities), The Financial Reporting Standard applicable in the UK and Republic of Ireland. |
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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. Current and deferred tax assets and liabilities are not discounted. |
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2 |
Employees |
2023 |
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2022 |
Number |
Number |
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Average number of persons employed by the company |
1 |
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1 |
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3 |
Investments |
Investments in |
subsidiary |
undertakings |
£ |
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Cost |
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At 1 January 2023 |
91 |
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At 31 December 2023 |
91 |
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4 |
Controlling party |
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The company is under the control of V P Ferguson. |
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5 |
Other information |
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Panel Edge Products (Holdings) Limited is a private company limited by shares and incorporated in England. Its registered office is: |
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Seeleys Road |
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Tyseley |
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Birmingham |
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B11 2LQ |