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REGISTERED NUMBER: 03478255 (England and Wales)















Pinchmill Leathers Limited

Unaudited Financial Statements

for the Year Ended 30th April 2024






Pinchmill Leathers Limited (Registered number: 03478255)






Contents of the Financial Statements
for the year ended 30th April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 5


Pinchmill Leathers Limited

Company Information
for the year ended 30th April 2024







DIRECTORS: Mrs L J Hoogstraten
P A Hoogstraten





SECRETARY: Mrs L J Hoogstraten





REGISTERED OFFICE: 310 Wellingborough Road
Northampton
NN1 4EP





REGISTERED NUMBER: 03478255 (England and Wales)





ACCOUNTANTS: Cheney & Co
310 Wellingborough Road
Northampton
NN1 4EP

Pinchmill Leathers Limited (Registered number: 03478255)

Balance Sheet
30th April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 13,347 2,786

CURRENT ASSETS
Stocks 149,510 185,510
Debtors 6 190,537 214,023
Cash at bank 5,002 1,010
345,049 400,543
CREDITORS
Amounts falling due within one year 7 277,094 310,908
NET CURRENT ASSETS 67,955 89,635
TOTAL ASSETS LESS CURRENT
LIABILITIES

81,302

92,421

CREDITORS
Amounts falling due after more than one
year

8

10,681

56,453
NET ASSETS 70,621 35,968

CAPITAL AND RESERVES
Called up share capital 10 2 2
Retained earnings 70,619 35,966
SHAREHOLDERS' FUNDS 70,621 35,968

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5th September 2024 and were signed on its behalf by:





P A Hoogstraten - Director


Pinchmill Leathers Limited (Registered number: 03478255)

Notes to the Financial Statements
for the year ended 30th April 2024

1. STATUTORY INFORMATION

Pinchmill Leathers 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.

The presentation currency of the financial statements is the Pound Sterling (£).


The principal activity of the company in the year under review was that of the wholesale of hides, skins and leather.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistency applied to all years presented unless otherwise stated.

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.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 25% on cost

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 Income Statement, 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Pinchmill Leathers Limited (Registered number: 03478255)

Notes to the Financial Statements - continued
for the year ended 30th April 2024

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings Totals
£    £    £    £   
COST
At 1st May 2023 169 10,940 3,185 14,294
Additions - - 14,966 14,966
Disposals (169 ) - - (169 )
At 30th April 2024 - 10,940 18,151 29,091
DEPRECIATION
At 1st May 2023 - 8,444 3,064 11,508
Charge for year - 374 3,862 4,236
At 30th April 2024 - 8,818 6,926 15,744
NET BOOK VALUE
At 30th April 2024 - 2,122 11,225 13,347
At 30th April 2023 169 2,496 121 2,786

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 123,887 150,733
Other debtors 66,650 63,290
190,537 214,023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 9) 19,745 19,812
Trade creditors 138,019 175,196
Taxation and social security 81,092 78,586
Other creditors 38,238 37,314
277,094 310,908

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans (see note 9) 10,681 18,929
Other creditors - 37,524
10,681 56,453

Pinchmill Leathers Limited (Registered number: 03478255)

Notes to the Financial Statements - continued
for the year ended 30th April 2024

9. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 9,597 7,910
Bank loans 10,148 11,902
Other loans Funding Circle 36,839 35,914
56,584 55,726

Amounts falling due between one and two years:
Other loans - 1-2 years - 37,524

Amounts falling due between two and five years:
Bank loans - 2-5 years 10,681 18,929

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary £1 2 2

11. CONTINGENT LIABILITIES

There were no contingent liabilities at 30th April 2024 or at 30th April 2023.

12. CAPITAL COMMITMENTS

There were no capital commitments at 30th April 2024 or at 30th April 2023.

13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30th April 2024 and 30th April 2023:

2024 2023
£    £   
P A Hoogstraten
Balance outstanding at start of year 63,290 58,802
Amounts advanced 71,060 63,290
Amounts repaid (67,700 ) (58,802 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 66,650 63,290

This loan is interest free and is repayable on demand.