REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 January 2024 |
for |
Pelham Structures Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 January 2024 |
for |
Pelham Structures Limited |
Pelham Structures Limited (Registered number: 02781058) |
Contents of the Financial Statements |
for the Year Ended 31 January 2024 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Pelham Structures Limited |
Company Information |
for the Year Ended 31 January 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Lake House |
Market Hill |
Royston |
Hertfordshire |
SG8 9JN |
Pelham Structures Limited (Registered number: 02781058) |
Abridged Balance Sheet |
31 January 2024 |
31.1.24 | 31.1.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Stocks |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
Pelham Structures Limited (Registered number: 02781058) |
Abridged Balance Sheet - continued |
31 January 2024 |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Pelham Structures Limited (Registered number: 02781058) |
Notes to the Financial Statements |
for the Year Ended 31 January 2024 |
1. | STATUTORY INFORMATION |
Pelham Structures Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Development sales are recognised on exchange of unconditional contracts and profit is recognised in the accounts at that time. |
Tangible fixed assets |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Stocks |
Work in progress is valued at the lower of cost and net realisable value. |
Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition. |
Property in the course of development is valued at the lower of direct costs and net realisable value. Direct costs comprise the cost of land, raw materials and development costs but exclude overheads and interest. |
Financial instruments |
The company only has basic financial instruments measured at amortised cost, with no financial instruments classified as other or basic instruments measured at fair value. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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. |
Pelham Structures Limited (Registered number: 02781058) |
Notes to the Financial Statements - continued |
for the Year Ended 31 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. |
Amounts recoverable on contracts |
Amounts recoverable on long-term contracts, which are included in debtors, are stated at the net sales value of the work done. Turnover represents the value of the work performed at the balance sheet date. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 February 2023 |
Additions |
Disposals | ( |
) |
At 31 January 2024 |
DEPRECIATION |
At 1 February 2023 |
Charge for year |
Eliminated on disposal | ( |
) |
At 31 January 2024 |
NET BOOK VALUE |
At 31 January 2024 |
At 31 January 2023 |
Pelham Structures Limited (Registered number: 02781058) |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2024 |
4. | TANGIBLE FIXED ASSETS - continued |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Totals |
£ |
COST |
At 1 February 2023 | 709,391 |
Additions | 81,995 |
At 31 January 2024 | 791,386 |
DEPRECIATION |
At 1 February 2023 | 291,605 |
Charge for year | 155,864 |
At 31 January 2024 | 447,469 |
NET BOOK VALUE |
At 31 January 2024 | 343,917 |
At 31 January 2023 | 417,786 |
5. | FIXED ASSET INVESTMENTS |
Information on investments other than loans is as follows: |
Totals |
£ |
COST |
At 1 February 2023 |
and 31 January 2024 | 2 |
NET BOOK VALUE |
At 31 January 2024 | 2 |
At 31 January 2023 | 2 |
The fixed asset investment represents the company's ownership of it's subsidiary - West Whittle Properties Limited. |
6. | LEASING AGREEMENTS |
Minimum lease payments fall due as follows: |
Hire purchase contracts |
31.1.24 | 31.1.23 |
£ | £ |
Net obligations repayable: |
Within one year |
Between one and five years |
Pelham Structures Limited (Registered number: 02781058) |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2024 |
6. | LEASING AGREEMENTS - continued |
Non-cancellable operating | leases |
31.1.24 | 31.1.23 |
£ | £ |
Within one year |
Between one and five years |
7. | SECURED DEBTS |
The following secured debts are included within creditors: |
31.1.24 | 31.1.23 |
£ | £ |
Bank overdrafts |
Bank loans |
CBIL Hire purchase loans | 197,091 | 304,616 |
The company has government backed hire purchase loans in light of the Covid 19 pandemic. The hire purchase loans are secured by the government over a 5 year period. The loans are repayable by instalments and interest is charged at 1.22% flat rate over the life of the loans . |
Obligations under hire purchase contracts are secured on the assets to which they relate. Bank loans and overdrafts are secured on fixed and floating charges over the company's assets. |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.1.24 | 31.1.23 |
value: | £ | £ |
Ordinary | £1 | 452 | 452 |
A Ordinary | £1 | 25 | 25 |
B Ordinary | £1 | 25 | 25 |
502 | 502 |