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Registration number: 08538581

Pendle Support Limited

Unaudited Filleted Financial Statements

for the Year Ended 29 November 2023

 

Pendle Support Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 10

 

Pendle Support Limited

Company Information

Directors

Mr J McBeth

Mrs S I McBeth

Registered office

Stanley Villas,
63 Albert Road,
Colne,
Lancashire.
BB8 0BP

Accountants

Hargreaves Brown & Benson
Chartered Accountants
1 Bond Street
Colne
Lancashire
BB8 9DG

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Pendle Support Limited
for the Year Ended 29 November 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Pendle Support Limited for the year ended 29 November 2023 as set out on pages 3 to 10 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Pendle Support Limited, as a body. Our work has been undertaken solely to prepare for your approval the accounts of Pendle Support Limited and state those matters that we have agreed to state to the Board of Directors of Pendle Support Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Pendle Support Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Pendle Support 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 of Pendle Support Limited. You consider that Pendle Support 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 Pendle Support 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.

......................................

Hargreaves Brown & Benson
Chartered Accountants
1 Bond Street
Colne
Lancashire
BB8 9DG

18 November 2024

 

Pendle Support Limited

(Registration number: 08538581)
Balance Sheet as at 29 November 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

346,127

83,284

Current assets

 

Debtors

6

206,671

165,622

Cash at bank and in hand

 

560,712

432,365

 

767,383

597,987

Creditors: Amounts falling due within one year

7

(255,767)

(190,597)

Net current assets

 

511,616

407,390

Total assets less current liabilities

 

857,743

490,674

Creditors: Amounts falling due after more than one year

7

(155,066)

(27,250)

Provisions for liabilities

(44,991)

(16,716)

Net assets

 

657,686

446,708

Capital and reserves

 

Called up share capital

100

100

Retained earnings

657,586

446,608

Shareholders' funds

 

657,686

446,708

For the financial year ending 29 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 18 November 2024 and signed on its behalf by:
 

.........................................
Mr J McBeth
Director

 

Pendle Support Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 November 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Stanley Villas,
63 Albert Road,
Colne,
Lancashire.
BB8 0BP

These financial statements were authorised for issue by the Board on 18 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Pendle Support Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 November 2023

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

15% reducing balance

Fixtures and fittings

15% reducing balance

Motor vehicles

15% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

5 years straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Pendle Support Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 November 2023

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year was 103 (2022 - 94).

 

Pendle Support Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 November 2023

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 30 November 2022

43,500

43,500

At 29 November 2023

43,500

43,500

Amortisation

At 30 November 2022

43,500

43,500

At 29 November 2023

43,500

43,500

Carrying amount

At 29 November 2023

-

-

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 30 November 2022

48,619

61,269

12,445

122,333

Additions

-

34,118

263,784

297,902

At 29 November 2023

48,619

95,387

276,229

420,235

Depreciation

At 30 November 2022

-

33,100

5,949

39,049

Charge for the year

-

5,591

29,468

35,059

At 29 November 2023

-

38,691

35,417

74,108

Carrying amount

At 29 November 2023

48,619

56,696

240,812

346,127

At 29 November 2022

48,619

28,169

6,496

83,284

Included within the net book value of land and buildings above is £48,619 (2022 - £48,619) in respect of long leasehold land and buildings.
 

 

Pendle Support Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 November 2023

6

Debtors

2023
£

2022
£

Trade debtors

138,690

100,757

Prepayments

1,510

622

Other debtors

66,471

64,243

206,671

165,622

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

52,729

12,400

Taxation and social security

 

100,184

92,382

Accruals and deferred income

 

21,838

23,293

Other creditors

 

81,016

62,522

 

255,767

190,597


The finance leases are secured on the assets concerned

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

155,066

27,250


The finance leases are secured on the assets concerned

 

Pendle Support Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 November 2023

8

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

15,780

27,250

Hire purchase contracts

139,286

-

155,066

27,250

Current loans and borrowings

2023
£

2022
£

Bank borrowings

11,600

12,400

Hire purchase contracts

41,129

-

52,729

12,400

 

Pendle Support Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 November 2023

9

Related party transactions

Transactions with directors

2023

At 30 November 2022
£

Advances to director
£

Repayments by director
£

At 29 November 2023
£

Repayable on demand - charged at official HMRC rate

64,124

199,868

(197,641)

66,351

 

2022

At 30 November 2021
£

Advances to director
£

Repayments by director
£

At 29 November 2022
£

Repayable on demand - charged at official HMRC rate

(1,973)

232,166

(166,069)

64,124

 

Summary of transactions with other related parties

Enable U CIC.
 
A community interest company jointly controlled by the directors.

 

Income and receivables from related parties

2023

Other related parties
£

Receipt of services

130,345

Leases

42,800

173,145

2022

Other related parties
£

Receipt of services

178,106

Leases

9,600

187,706