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Reports Dated : 14/10/2024 Registered Number: 09159127
England & Northern Ireland

 

 

 

P G S COMMERCIAL SERVICES LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 September 2023

End date: 31 August 2024
Directors P G Scaife
S Scaife
Registered Number 09159127
Registered Office 147 Rushton Road
Desborough
Northants
NN14 2QB
Accountants Denton Tavara Ltd
61a High Street South
Rushden
NN10 0RA
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 9,733    33,729 
9,733    33,729 
Current assets      
Stocks 4 670    750 
Debtors 5 31,127    53,100 
Cash at bank and in hand 7,494    12,930 
39,291    66,780 
Creditors: amount falling due within one year 6 (38,328)   (62,845)
Net current assets 963    3,935 
 
Total assets less current liabilities 10,696    37,664 
Net assets 10,696    37,664 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 10,596    37,564 
Shareholders' funds 10,696    37,664 
 


For the year ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
These 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 income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 14 October 2024 and were signed on its behalf by:


-------------------------------
P G Scaife
Director
2
General Information
P G S Commercial Services Ltd is a private company, limited by shares, registered in England & Northern Ireland, registration number 09159127, registration address 147 Rushton Road, Desborough, Northants, NN14 2QB.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Tangible fixed assets
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:
Plant and Machinery 15% Reducing Balance
Motor Vehicles 25% 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. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 2 (2023 : 2).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Total
  £   £   £
At 01 September 2023 15,075    84,152    99,227 
Additions    
Disposals   (61,862)   (61,862)
At 31 August 2024 15,075    22,290    37,365 
Depreciation
At 01 September 2023 9,848    55,650    65,498 
Charge for year 784    2,981    3,765 
On disposals   (41,631)   (41,631)
At 31 August 2024 10,632    17,000    27,632 
Net book values
Closing balance as at 31 August 2024 4,443    5,290    9,733 
Opening balance as at 01 September 2023 5,227    28,502    33,729 


4.

Stocks

2024
£
  2023
£
Closing Stocks and WIP 670    750 
670    750 

5.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 31,127    53,100 
31,127    53,100 

6.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 1,291    2,542 
Corporation Tax 28,040    34,786 
Accruals 100    100 
Other Creditors 1   
Hire Purchase/Financial Leases   7,506 
Directors' Current Accounts 447    100 
VAT 8,449    17,811 
38,328    62,845 

3