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REGISTERED NUMBER: 03312954 (England and Wales)















Unaudited Financial Statements for the Year Ended 31st January 2024

for

Pinnell & Bax Limited

Pinnell & Bax Limited (Registered number: 03312954)






Contents of the Financial Statements
for the year ended 31st January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Pinnell & Bax Limited

Company Information
for the year ended 31st January 2024







DIRECTORS: I D Pinnell
D J Wade





SECRETARY:





REGISTERED OFFICE: Heathfield Way
Kingsheath
Northampton
NN5 7QP





REGISTERED NUMBER: 03312954 (England and Wales)





ACCOUNTANTS: B.R. Bamford Chartered Accountant
6-7 Moulton Road
Pitsford
Northampton
Northamptonshire
NN6 9AU

Pinnell & Bax Limited (Registered number: 03312954)

Balance Sheet
31st January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 10,872 14,496
Tangible assets 5 79,830 117,304
90,702 131,800

CURRENT ASSETS
Stocks 448,849 428,950
Debtors 6 32,690 26,832
Cash at bank and in hand 44,256 19,747
525,795 475,529
CREDITORS
Amounts falling due within one year 7 433,875 429,028
NET CURRENT ASSETS 91,920 46,501
TOTAL ASSETS LESS CURRENT
LIABILITIES

182,622

178,301

CREDITORS
Amounts falling due after more than one
year

8

(13,333

)

(23,333

)

PROVISIONS FOR LIABILITIES (15,168 ) (4,944 )
NET ASSETS 154,121 150,024

Pinnell & Bax Limited (Registered number: 03312954)

Balance Sheet - continued
31st January 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 1,020 1,020
Share premium 9 956 956
Retained earnings 9 152,145 148,048
SHAREHOLDERS' FUNDS 154,121 150,024

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st January 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 21st October 2024 and were signed on its behalf by:





I D Pinnell - Director


Pinnell & Bax Limited (Registered number: 03312954)

Notes to the Financial Statements
for the year ended 31st January 2024

1. STATUTORY INFORMATION

Pinnell & Bax 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.

2. ACCOUNTING POLICIES

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

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of nil years.

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 etc - 25% on reducing balance and 10% 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.


Pinnell & Bax Limited (Registered number: 03312954)

Notes to the Financial Statements - continued
for the year ended 31st January 2024

2. ACCOUNTING POLICIES - continued
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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2023 - 17 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1st February 2023
and 31st January 2024 25,770
AMORTISATION
At 1st February 2023 11,274
Charge for year 3,624
At 31st January 2024 14,898
NET BOOK VALUE
At 31st January 2024 10,872
At 31st January 2023 14,496

Pinnell & Bax Limited (Registered number: 03312954)

Notes to the Financial Statements - continued
for the year ended 31st January 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st February 2023
and 31st January 2024 286,015
DEPRECIATION
At 1st February 2023 168,711
Charge for year 37,474
At 31st January 2024 206,185
NET BOOK VALUE
At 31st January 2024 79,830
At 31st January 2023 117,304

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 32,690 26,832

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts - 245
Trade creditors 299,570 248,558
Taxation and social security 15,782 13,170
Other creditors 108,523 157,055
433,875 429,028

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 13,333 23,333

Pinnell & Bax Limited (Registered number: 03312954)

Notes to the Financial Statements - continued
for the year ended 31st January 2024

9. RESERVES
Retained Share
earnings premium Totals
£    £    £   

At 1st February 2023 148,048 956 149,004
Profit for the year 46,933 46,933
Dividends (42,836 ) (42,836 )
At 31st January 2024 152,145 956 153,101