Registered number
10205154
P Pestle & Sons Ltd
Filleted Accounts
31 March 2024
P Pestle & Sons Ltd
Registered number: 10205154
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 5,596 996
Current assets
Debtors 4 5,403 17,269
Cash at bank and in hand 81,085 50,577
86,488 67,846
Creditors: amounts falling due within one year 5 (52,991) (67,518)
Net current assets 33,497 328
Net assets 39,093 1,324
Capital and reserves
Called up share capital 100 100
Profit and loss account 38,993 1,224
Shareholders' funds 39,093 1,324
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.
Mr Liam Pestle
Director
Approved by the board on 3 October 2024
P Pestle & Sons Ltd
Notes to the Accounts
for the year ended 31 March 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 sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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, other than freehold land, 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
Fixtures, fittings, tools and equipment over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 4
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2023 1,235 10,500 11,735
Additions - 6,995 6,995
At 31 March 2024 1,235 17,495 18,730
Depreciation
At 1 April 2023 1,235 9,504 10,739
Charge for the year - 2,395 2,395
At 31 March 2024 1,235 11,899 13,134
Net book value
At 31 March 2024 - 5,596 5,596
At 31 March 2023 - 996 996
4 Debtors 2024 2023
£ £
Trade debtors - 2,916
Directors Loan accounts 5,403 14,353
5,403 17,269
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 19,980 30,680
Trade creditors 1,000 1,000
Taxation and social security costs 30,809 35,338
Other creditors 1,202 500
52,991 67,518
6 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mr Liam Phillip Pestle
[Loan 1] 7,177 2,701 (7,177) 2,701
Mr Phillip Roy Pestle
[Loan 1] 7,176 2,702 (7,176) 2,702
14,353 5,403 (14,353) 5,403
7 Related party transactions
The directors received dividends of £60,000 for the year (2023: £70,000)
8 Controlling party
The directors own 100% of the company.
9 Other information
P Pestle & Sons Ltd is a private company limited by shares and incorporated in England. Its registered office is:
24 Culls Road
Normandy
Guildford
Surrey
GU3 2EP
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