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REGISTERED NUMBER: 00775803 (England and Wales)





















Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Pneumatic Tools and Compressors Limited

Pneumatic Tools and Compressors Limited (Registered number: 00775803)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Pneumatic Tools and Compressors Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: G D Thomas





REGISTERED OFFICE: Acton Road
Long Eaton
Nottinghamshire
NG10 1FU





REGISTERED NUMBER: 00775803 (England and Wales)





ACCOUNTANTS: Phipp & Co (Accountants) Limited
6 Nottingham Road
Long Eaton
Nottinghamshire
NG10 1HP

Pneumatic Tools and Compressors Limited (Registered number: 00775803)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 15,717 16,413

CURRENT ASSETS
Stocks 13,799 13,125
Debtors 5 4,186 25,735
Cash at bank 519,646 496,743
537,631 535,603
CREDITORS
Amounts falling due within one year 6 126,814 121,137
NET CURRENT ASSETS 410,817 414,466
TOTAL ASSETS LESS CURRENT
LIABILITIES

426,534

430,879

PROVISIONS FOR LIABILITIES 515 632
NET ASSETS 426,019 430,247

CAPITAL AND RESERVES
Called up share capital 110 110
Retained earnings 425,909 430,137
SHAREHOLDERS' FUNDS 426,019 430,247

Pneumatic Tools and Compressors Limited (Registered number: 00775803)

Balance Sheet - continued
31 December 2023


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 director acknowledges his 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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 September 2024 and were signed by:





G D Thomas - Director


Pneumatic Tools and Compressors Limited (Registered number: 00775803)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Pneumatic Tools and Compressors 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% on cost
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

Pneumatic Tools and Compressors Limited (Registered number: 00775803)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 12,650 63,758 76,408
DEPRECIATION
At 1 January 2023 - 59,995 59,995
Charge for year - 696 696
At 31 December 2023 - 60,691 60,691
NET BOOK VALUE
At 31 December 2023 12,650 3,067 15,717
At 31 December 2022 12,650 3,763 16,413

Included in cost of land and buildings is freehold land of £ 12,650 (2022 - £ 12,650 ) which is not depreciated.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 602 2,466
Other debtors 3,584 23,269
4,186 25,735

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 100,335 72,190
Taxation and social security 11,885 14,775
Other creditors 14,594 34,172
126,814 121,137