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Logo On Report
Registered Number: 10833658
England and Wales

 

 

 

PRICED 2 CLEAR LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 July 2023

End date: 30 June 2024
Chartered Management Accountants' report to the board of directors on the preparation of the unaudited statutory accounts Priced 2 Clear Limited for the year ended 30 June 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Priced 2 Clear Limited for the year ended 30 June 2024 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Chartered Institute of Management Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.cimaglobal.com.
This report is made solely to the Board of Directors of Priced 2 Clear Limited , as a body, in accordance with the terms of our engagement letter dated 23 October 2024. Our work has been undertaken solely to prepare for your approval the accounts of Priced 2 Clear Limited and state those matters that we have agreed to state to the Board of Directors of Priced 2 Clear Limited, as a body, in this report in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Priced 2 Clear Limited and its Board of Directors as a body for our work or for this report
It is your duty to ensure that Priced 2 Clear Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit Priced 2 Clear Limited. You consider that Priced 2 Clear Limited is exempt from the statutory audit requirement for the year
We have not been instructed to carry out an audit or a review of the accounts of Priced 2 Clear Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.



....................................................
Rivington Accounts Ltd
Bank House
6-8 Church Street
Adlington
Lancashire
PR7 4EX
23 October 2024
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 20,047    26,283 
Investments 4 2,000    2,000 
22,047    28,283 
Current assets      
Stocks 12,000    30,000 
Debtors 11,331    13,512 
Cash at bank and in hand 8,819    2,457 
32,150    45,969 
Creditors: amount falling due within one year (72,894)   (52,227)
Net current assets (40,744)   (6,258)
 
Total assets less current liabilities (18,697)   22,025 
Creditors: amount falling due after more than one year   (14,090)
Accruals and deferred income   (1,315)
Provisions for liabilities (3,809)   (4,994)
Net assets (22,506)   1,626 
 

Capital and reserves
     
Called up share capital 5 12    12 
Profit and loss account (22,518)   1,614 
Shareholders' funds (22,506)   1,626 
 


For the year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 23 October 2024 and were signed by:


-------------------------------
Ben Haydock
Director
2
General Information
Priced 2 Clear Limited is a private company, limited by shares, registered in England and Wales, registration number 10833658, registration address Bank House, 6-8 Church Street, Adlington, Chorley, PR7 4EX.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Website cost
Planning and operating costs for the company's website are charged to the income statement as incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 25% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures and Fittings 15% Reducing Balance
Computer Equipment 25% Reducing Balance
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 5 (2023 : 4).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £   £
At 01 July 2023 5,305    48,463    4,583    2,836    61,187 
Additions       445    445 
Disposals        
At 30 June 2024 5,305    48,463    4,583    3,281    61,632 
Depreciation
At 01 July 2023 3,789    27,317    2,010    1,788    34,904 
Charge for year 379    5,286    643    373    6,681 
On disposals        
At 30 June 2024 4,168    32,603    2,653    2,161    41,585 
Net book values
Closing balance as at 30 June 2024 1,137    15,860    1,930    1,120    20,047 
Opening balance as at 01 July 2023 1,516    21,146    2,573    1,048    26,283 


4.

Investments

Cost Other investments other than loans   Total
  £   £
At 01 July 2023 2,000    2,000 
Additions  
Transfer to/from tangible fixed assets  
Disposals  
At 30 June 2024 2,000    2,000 

5.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
12 Class A shares of £1.00 each 12    12 
12    12 

3