Company registration number 10867114 (England and Wales)
PESCO Developments Ltd
UNAUDITED FINANCIAL STATEMENTS
for the year ended 31 March 2024
PAGES FOR FILING WITH REGISTRAR
PESCO Developments Ltd
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 3
PESCO Developments Ltd
Statement Of Financial Position
as at 31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Stocks
100,000
100,000
Debtors
3
3,656
4,088
Cash at bank and in hand
4,502
4,526
108,158
108,614
Creditors: amounts falling due within one year
4
(570,539)
(568,450)
Net current liabilities
(462,381)
(459,836)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(462,481)
(459,936)
Total equity
(462,381)
(459,836)
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 4 July 2024 and are signed on its behalf by:
M B Buckley
Director
Company registration number 10867114 (England and Wales)
PESCO Developments Ltd
Notes to the Financial Statements
for the year ended 31 March 2024
- 2 -
1
Accounting policies
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
Turnover
Turnover is recognised at the fair value of the consideration receivable for goods and services provided in the normal course of business, and is shown net of VAT.
Turnover is recognised on an accruals basis.
Stocks
Work in progress is stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
3
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
3,166
Other debtors
120
1,185
Prepayments and accrued income
370
2,903
3,656
4,088
PESCO Developments Ltd
Notes to the Financial Statements (continued)
for the year ended 31 March 2024
- 3 -
4
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
2,025
2,944
Amounts owed to group undertakings
555,446
555,314
Taxation and social security
42
273
Other creditors
9,132
7,627
Accruals and deferred income
3,894
2,292
570,539
568,450
5
Parent company
The ultimate controlling party is Maramar (Holdings) Limited and its registered office is Calderdale Business Park, Main Reception, Club Lane, Halifax, West Yorkshire, HX2 8DB.
6
Company information
PESCO Developments Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Calderdale Business Park, Main Reception, Club Lane, Halifax, West Yorkshire, HX2 8DB.