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COMPANY REGISTRATION NUMBER: 04968353
P.G.M.I. Limited
Filleted Unaudited Abridged Financial Statements
31 March 2024
P.G.M.I. Limited
Abridged Financial Statements
Year Ended 31 March 2024
Contents
Pages
Officers and professional advisers
1
Abridged statement of financial position
2 to 3
Notes to the abridged financial statements
4 to 5
P.G.M.I. Limited
Officers and Professional Advisers
Director
Dr P Gammons
Registered office
88 High Street
Ramsey
Huntingdon
Cambs.
PE26 1BS
Accountants
SR Howell & Co
Chartered Certified Accountants
88 High Street
Ramsey
Huntingdon
Cambs
PE26 1BS
P.G.M.I. Limited
Abridged Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
26,969
24,930
Current assets
Debtors
500
2,873
Cash at bank and in hand
5,927
2,481
-------
-------
6,427
5,354
Creditors: amounts falling due within one year
351,138
269,074
---------
---------
Net current liabilities
344,711
263,720
---------
---------
Total assets less current liabilities
( 317,742)
( 238,790)
---------
---------
Net liabilities
( 317,742)
( 238,790)
---------
---------
Capital and reserves
Called up share capital
2
2
Profit and loss account
( 317,744)
( 238,792)
---------
---------
Shareholders deficit
( 317,742)
( 238,790)
---------
---------
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.
P.G.M.I. Limited
Abridged Statement of Financial Position (continued)
31 March 2024
These abridged financial statements were approved by the board of directors and authorised for issue on 16 October 2024 , and are signed on behalf of the board by:
„„„„„„„„„„„„„
Dr Peter Gammons Director
Company registration number: 04968353
P.G.M.I. Limited
Notes to the Abridged Financial Statements
Year Ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 88 High Street, Ramsey, Huntingdon, Cambs., PE26 1BS.
2. Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
20% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Tangible assets
£
Cost
At 1 April 2023
81,915
Additions
7,176
--------
At 31 March 2024
89,091
--------
Depreciation
At 1 April 2023
56,985
Charge for the year
5,137
--------
At 31 March 2024
62,122
--------
Carrying amount
At 31 March 2024
26,969
--------
At 31 March 2023
24,930
--------
6. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
Dr P Gammons
( 261,841)
( 82,264)
( 344,105)
---------
--------
---------
2023
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
Dr P Gammons
( 245,785)
( 16,056)
( 261,841)
---------
--------
---------