1 March 2023 v2024.48.1 limited_company_frs_102_section_1a_v1_1_2 companies_houseSoftwarefalsetruetruetrueNo description of principal activity00falsetruexbrli:purexbrli:sharesiso4217:GBP041556812023-03-012024-02-29041556812024-02-29041556812023-02-2804155681core:WithinOneYear2024-02-2904155681core:WithinOneYear2023-02-2804155681core:AfterOneYear2024-02-2904155681core:AfterOneYear2023-02-2804155681core:ShareCapital2024-02-2904155681core:ShareCapital2023-02-2804155681core:RetainedEarningsAccumulatedLosses2024-02-2904155681core:RetainedEarningsAccumulatedLosses2023-02-2804155681bus:Director12023-03-012024-02-2904155681bus:RegisteredOffice2023-03-012024-02-2904155681core:PlantMachinery2023-03-012024-02-2904155681core:FurnitureFittingsToolsEquipment2023-03-012024-02-2904155681core:MotorVehicles2023-03-012024-02-2904155681core:PlantMachinery2023-03-0104155681core:PlantMachinery2024-02-2904155681core:PlantMachinery2023-02-280415568112023-03-012024-02-29041556812022-03-012023-02-2804155681countries:EnglandWales2023-03-012024-02-2904155681bus:AuditExemptWithAccountantsReport2023-03-012024-02-2904155681bus:PrivateLimitedCompanyLtd2023-03-012024-02-2904155681bus:SmallEntities2023-03-012024-02-2904155681bus:FullAccounts2023-03-012024-02-29
Company registration number:
04155681
P A Edwards Surfacing Limited
Unaudited Filleted Financial Statements for the year ended
29 February 2024
P A Edwards Surfacing Limited
Statement of Financial Position
29 February 2024
20242023
Note££
Fixed assets    
Tangible assets 5
135,841
 
169,350
 
Current assets    
Stocks
1,950
 
1,950
 
Debtors 6
48,798
 
30,048
 
Cash at bank and in hand
85,824
 
101,484
 
136,572
 
133,482
 
Creditors: amounts falling due within one year 7
(91,282
)
(142,180
)
Net current assets/(liabilities)
45,290
 
(8,698
)
Total assets less current liabilities 181,131   160,652  
Creditors: amounts falling due after more than one year 8
(7,385
)
(27,385
)
Provisions for liabilities
(25,810
)
(32,971
)
Net assets
147,936
 
100,296
 
Capital and reserves    
Called up share capital
100
 
100
 
Profit and loss account
147,836
 
100,196
 
Shareholders funds
147,936
 
100,296
 
For the year ending
29 February 2024
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
  • The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
  • The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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.
These
financial statements
were approved by the board of directors and authorised for issue on
23 October 2024
, and are signed on behalf of the board by:
Mr Paul Anthony Edwards
Director
Company registration number:
04155681
P A Edwards Surfacing Limited
Notes to the Financial Statements
Year ended
29 February 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
98 Lancaster Road
,
Newcastle Under Lyme
,
Staffordshire
,
ST5 1DS
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The
financial statements
are prepared in sterling, which is the functional currency of the entity.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Current tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively.
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the 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.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Plant and machinery
20% reducing balance
Fixtures, fittings and equipment
20% reducing balance
Motor vehicles
20% reducing balance

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell.
Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Provisions for liabilities

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

4 Average number of employees

The average number of persons employed by the company during the year was Nil (2023: Nil).

5 Tangible assets

Plant and machinery etc.
£
Cost  
At
1 March 2023
360,428
 
Additions
2,792
 
At
29 February 2024
363,220
 
Depreciation  
At
1 March 2023
191,078
 
Charge
36,301
 
At
29 February 2024
227,379
 
Carrying amount  
At
29 February 2024
135,841
 
At 28 February 2023
169,350
 

6 Debtors

20242023
££
Trade debtors
20,646
 
24,174
 
Amounts owed by group undertakings and undertakings in which the company has a participating interest
24,955
 
237
 
Other debtors
3,197
 
5,637
 
48,798
 
30,048
 

7 Creditors: amounts falling due within one year

20242023
££
Trade creditors
2,309
 
4,710
 
Amounts owed to group undertakings and undertakings in which the company has a participating interest -  
75,269
 
Taxation and social security
24,792
 
2,783
 
Other creditors
64,181
 
59,418
 
91,282
 
142,180
 
The hire purchase liabilities are secured against the assets to which it relates.

8 Creditors: amounts falling due after more than one year

20242023
££
Other creditors
7,385
 
27,385
 
The hire purchase liabilities are secured against the assets to which it relates.

10 Controlling party

The ultimate parent undertaking is P.A.E Investments Limited; the registered office address of the company is Deansfield House, 98 Lancaster Road, Newcastle Under Lyme, Staffordshire, ST5 1DS.