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REGISTERED NUMBER: 13829644 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 January 2024

for

Pitts Stop (Wales) Ltd

Pitts Stop (Wales) Ltd (Registered number: 13829644)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Pitts Stop (Wales) Ltd

Company Information
for the Year Ended 31 January 2024







DIRECTOR: Mr J S Pitt





REGISTERED OFFICE: Gas Lane
Mold
Flintshire
CH7 1HL





REGISTERED NUMBER: 13829644 (England and Wales)





ACCOUNTANTS: Haines Watts
Military House
24 Castle Street
Chester
Cheshire
CH1 2DS

Pitts Stop (Wales) Ltd (Registered number: 13829644)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 86,475 86,475
Tangible assets 5 12,926 17,494
99,401 103,969

CURRENT ASSETS
Stocks 1,500 1,500
Debtors 6 - 2,028
1,500 3,528
CREDITORS
Amounts falling due within one year 7 39,436 81,954
NET CURRENT LIABILITIES (37,936 ) (78,426 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

61,465

25,543

CREDITORS
Amounts falling due after more than one
year

8

17,479

-
NET ASSETS 43,986 25,543

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 43,886 25,443
SHAREHOLDERS' FUNDS 43,986 25,543

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Pitts Stop (Wales) Ltd (Registered number: 13829644)

Balance Sheet - continued
31 January 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 October 2024 and were signed by:





Mr J S Pitt - Director


Pitts Stop (Wales) Ltd (Registered number: 13829644)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Pitts Stop (Wales) Ltd 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.

The financial statements are presented in sterling, which is the functional currency of the company, rounded to the nearest £1.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

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.

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 - 25% on reducing balance
Computer equipment - 33% on 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.

Taxation
Taxation for the year comprises current 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 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

Pitts Stop (Wales) Ltd (Registered number: 13829644)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2023
and 31 January 2024 86,475
NET BOOK VALUE
At 31 January 2024 86,475
At 31 January 2023 86,475

5. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 February 2023
and 31 January 2024 22,258 1,199 23,457
DEPRECIATION
At 1 February 2023 5,565 398 5,963
Charge for year 4,173 395 4,568
At 31 January 2024 9,738 793 10,531
NET BOOK VALUE
At 31 January 2024 12,520 406 12,926
At 31 January 2023 16,693 801 17,494

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Other debtors - 2,028

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 21,137 22,757
Taxation and social security 18,282 6,934
Other creditors 17 52,263
39,436 81,954

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Bank loans 17,479 -

9. RELATED PARTY DISCLOSURES

During the year, total dividends of £16,200 (2023 - £2,000) were paid to the director .