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Company registration number:11793220
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PIVOTAL IMPARTMENT LIMITED
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 January 2024 |
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PIVOTAL IMPARTMENT LIMITED |
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BALANCE SHEET |
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AS AT 31 January 2024
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2024 |
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2023 |
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Notes |
£ |
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£ |
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£ |
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£ |
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FIXED ASSETS | | | | | | | | | | | |
Tangible assets | | | 3 | | | 155,616 | | | | 196,897 | |
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| | | | | | | 155,616 | | | | 196,897 | |
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CURRENT ASSETS |
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Stocks | | | | 2,000 | | | | 2,000 | | | | |
Debtors | | | 4 | 978,066 | | | | 1,469,535 | | | | |
Cash at bank and in hand | | | | 467,227 | | | | 335,543 | | | | |
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| | | | | 1,447,293 | | | | 1,807,078 | | | |
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CREDITORS |
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Amounts falling due within one year |
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5 |
(398,316) |
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(681,652) |
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NET CURRENT ASSETS |
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1,048,977 |
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1,125,426 |
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TOTAL ASSETS LESS |
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CURRENT LIABILITIES |
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1,204,593 |
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1,322,323 |
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Creditors falling due after one year | | 6 | | | (39,475) | | | | (39,475) | |
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PROVISIONS FOR LIABILITIES | | | | | (29,567) | | | | (40,538) | |
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NET ASSETS |
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1,135,551 |
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1,242,310 |
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CAPITAL AND RESERVES |
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Called-up equity share capital |
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7 |
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100 |
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100 |
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Profit and loss account |
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1,135,451 |
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1,242,210 |
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SHAREHOLDERS FUNDS |
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1,135,551 |
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1,242,310 |
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For the year ending 31 January 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. | | | | | | | |
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The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. | | | | | | | |
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of the accounts. | | | | | | | |
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These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. Approved by the board of directors on 18 September 2024 and signed on its behalf. | | | | | | | |
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The profit and loss account has not been delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small companies' regime. | | | | | | | |
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.......................................................................... |
Mr Yong Yang |
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18 September 2024
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The annexed notes form part of these financial statements. | | | | | | | |
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PIVOTAL IMPARTMENT LIMITED | | | | | | |
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STATEMENT OF CHANGES IN EQUITY | | | | | | |
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FOR THE YEAR ENDED 31 JANUARY 2024 | | |
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Share |
Share |
P and L |
Revaluation |
Other |
Total |
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Capital |
Premium |
Account |
reserve |
reserves |
equity |
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£ |
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Balance at 1 February 2022 | | 100 | 0 | 1,148,929 | 0 | 0 | 1,149,029 |
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Changes in equity | | | | | | | | | | |
Total Comprehensive Income | | 0 | 0 | 93,281 | 0 | 0 | 93,281 |
Balance at 31 January 2023 | | 100 | 0 | 1,242,210 | 0 | 0 | 1,242,310 |
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Changes in equity | | | | | | | | | | |
Total comprehensive income | | 0 | 0 | (106,759) | 0 | 0 | (106,759) |
Balance at 31 January 2024 | | 100 | 0 | 1,135,451 | 0 | 0 | 1,135,551 |
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PIVOTAL IMPARTMENT LIMITED |
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NOTES TO THE FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 JANUARY 2024 |
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1. |
Accounting policies |
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| Statutory information | | | | | | | |
| The company is registered in England and its registered number is 11793220. The company is a private company limited by shares. Its registered office is 2nd Floor Cathay Building, 86 Holloway Head, | |
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Basis of preparing the financial statements |
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The financial statements have been prepared under the historical cost convention in accordance with the accounting policies set out below. These financial statements have been prepared in accordance with FRS102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
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| Turnover | | | | | | | | | |
| Turnover represents sales of services net of VAT and trade discounts. Turnover is recognised when the services are delivered to the customer. | |
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| Foreign Currency | | | | | | | | |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit. | |
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| Fixed Assets | | | | | | | | |
| Tangible fixed assets are stated at cost less depreciation 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 bases: | |
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| Plant and Machinery 25% per annum of cos | |
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| Fixtures and Fittings 15% reducing balance basi | |
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| Motor Vehicles 25% reducing balance basi | |
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| Stocks and Work In Progress | | | | | | | |
| Stock is valued at the lower of cost and net realisable value determined on a first in first out basis. Net realisable value represents estimated selling price less costs to complete and sell. | |
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| Deferred Taxation | | | | | | | | |
| Deferred tax is provided on the liability method to take account of the timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences. | |
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| The company operates a defined contribution pension scheme, NEST pension scheme, and the pension charge represents the amounts payable by the company to the fund in respect of the year. | |
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2. | Employees | | | |
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| The average number of persons employed by the company (including directors) during the year was 22. |
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3. | Tangible fixed assets | | | | | | | | | |
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Plant |
Motor |
F and F |
Total |
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| Cost | | | | | | | | | | |
| At start of period | |
58,821 |
19,000 |
233,143 |
310,964 | |
| At end of period | |
58,821 |
19,000 |
233,143 |
310,964 | |
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| Depreciation | | | | | | | | | | |
| At start of period | |
31,703 |
4,750 |
77,614 |
114,067 | |
| Provided during the period |
14,389 |
3,563 |
23,329 |
41,281 | |
| At end of period | |
46,092 |
8,313 |
100,943 |
155,348 | |
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| Net Book Value | | | | | | | | | |
| At start of period | |
27,118 |
14,250 |
155,529 |
196,897 | |
| At end of period | |
12,729 |
10,687 |
132,200 |
155,616 | |
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4. | Debtors | | | | | | | |
| | | | | 2024 | 2023 | | | |
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| Due within one year | | | | | | | |
| Trade Debtors | | | 179,115 | 1,034,199 | | | |
| Other Debtors | | | 47,049 | 193,354 | | | |
| Prepayments and accrued income | | 22,083 | 30,066 | | | |
| Corporation tax recoverable assets | | 17,903 | 0 | | | |
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| | | | | 266,150 | 1,257,619 | | | |
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| Due after one year | | | | | | | |
| Other Debtors | | | 711,916 | 211,916 | | | |
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| | | | | 978,066 | 1,469,535 | | | |
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5. | Creditors due within one year | | | | | |
| | | | | 2024 | 2023 | | |
| | | | | £ | £ | | |
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| Trade creditors | | | 319,341 | 589,262 | | |
| Corporation Tax | | | 0 | 23,910 | | |
| Other taxes and social security costs | | 10,451 | 12,503 | | |
| Accruals and deferred income | | 65,658 | 52,812 | | |
| Loan from directors | | | 2,864 | 3,165 | | |
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| | | | | 398,316 | 681,652 | | |
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6. | Creditors due after one year | | | | | |
| | | | | 2024 | 2023 | | |
| | | | | £ | £ | | |
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| Other creditors | | | 39,475 | 39,475 | | |
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| | | | | 39,475 | 39,475 | | |
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7. |
Share capital |
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Alloted, Issued and fully paid |
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2024 |
2023 |
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£ |
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| Ordinary shares of £1 each | | | 100 | 100 | | | |
| Total issued share capital | | | 100 | 100 | | | |
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8. | Related Party Transactions | | | | | | | | |
| During the year, the company purchased goods totalling £740,931.28 from Streamline Logistics Limited which has the same shareholder, the company also lent a loan £500,000 to Cedars Development Ltd which has the same director. | |
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