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Unaudited Financial Statements for the Year Ended 31 March 2024

for

Pearce Autos Limited

Pearce Autos Limited (Registered number: 06285233)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Pearce Autos Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: A C Pearce
Mrs C S Pearce





SECRETARY: Mrs C S Pearce





REGISTERED OFFICE: 8 Sutton Close
Cookham
Maidenhead
Berkshire
SL6 9QU





REGISTERED NUMBER: 06285233 (England and Wales)





ACCOUNTANTS: Peter Upton
Bridge House
2 Bridge Avenue
Maidenhead
Berkshire
SL6 1RR

Pearce Autos Limited (Registered number: 06285233)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 17,139 10,352

CURRENT ASSETS
Stocks 4,000 22,750
Debtors 5 43,332 43,332
Cash at bank 529,666 425,308
576,998 491,390
CREDITORS
Amounts falling due within one year 6 118,095 85,962
NET CURRENT ASSETS 458,903 405,428
TOTAL ASSETS LESS CURRENT
LIABILITIES

476,042

415,780

CAPITAL AND RESERVES
Called up share capital 7 1 1
Retained earnings 8 476,041 415,779
SHAREHOLDERS' FUNDS 476,042 415,780

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 22 October 2024 and were signed on its behalf by:





A C Pearce - Director


Pearce Autos Limited (Registered number: 06285233)

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

1. STATUTORY INFORMATION

Pearce Autos 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.

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

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.

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.

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 4 (2023 - 5 ) .

Pearce Autos Limited (Registered number: 06285233)

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

4. TANGIBLE FIXED ASSETS
Office &
Plant and Motor sundry
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 26,800 8,100 4,827 39,727
Additions - 12,500 - 12,500
At 31 March 2024 26,800 20,600 4,827 52,227
DEPRECIATION
At 1 April 2023 18,911 6,209 4,255 29,375
Charge for year 1,972 3,598 143 5,713
At 31 March 2024 20,883 9,807 4,398 35,088
NET BOOK VALUE
At 31 March 2024 5,917 10,793 429 17,139
At 31 March 2023 7,889 1,891 572 10,352

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other debtors 43,332 43,332

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 25,000 -
Tax 40,646 49,262
Social security and other taxes 814 -
Pension 174 -
VAT 35,397 23,616
Other creditors - 12,500
Directors' current accounts 13,564 64
Accrued expenses 2,500 520
118,095 85,962

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
1 ordinary £1 1 1

8. RESERVES
Retained
earnings
£   

At 1 April 2023 415,779
Profit for the year 135,262
Dividends (75,000 )
At 31 March 2024 476,041