Registered number
06830974
Pearwood Joinery & Construction Limited
Filleted Accounts
29 February 2024
Pearwood Joinery & Construction Limited
Registered number: 06830974
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 2,140 2,853
Current assets
Debtors 4 24,772 718
Cash at bank and in hand 67,932 134,627
92,704 135,345
Creditors: amounts falling due within one year 5 (20,691) (18,668)
Net current assets 72,013 116,677
Net assets 74,153 119,530
Capital and reserves
Called up share capital 2 2
Profit and loss account 74,151 119,528
Shareholders' funds 74,153 119,530
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
M W Crosby
Director
Approved by the board on 11 November 2024
Pearwood Joinery & Construction Limited
Notes to the Accounts
for the year ended 29 February 2024
1 Accounting policies
Basis of preparation
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 represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Office equipment and motor vehicle 25 % reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Office equipment Motor vehicle Total
£ £ £
Cost
At 1 March 2023 10,118 16,000 26,118
At 29 February 2024 10,118 16,000 26,118
Depreciation
At 1 March 2023 7,550 15,715 23,265
Charge for the year 642 71 713
At 29 February 2024 8,192 15,786 23,978
Net book value
At 29 February 2024 1,926 214 2,140
At 28 February 2023 2,568 285 2,853
4 Debtors 2024 2023
£ £
Trade debtors 2,022 718
Other debtors 22,750 -
24,772 718
5 Creditors: amounts falling due within one year 2024 2023
£ £
Corporation tax 8,289 6,673
Other taxes and social security costs 9,009 8,602
Other creditors and accruals 3,393 3,393
20,691 18,668
6 Related party transactions
The directors owed the company £22,750 (2023 - nil) as at 29 February 2024 which was repaid after the year end.
7 Other information
Pearwood Joinery & Construction Limited is a private company limited by shares and incorporated in England. Its registered office is:
9 Bonhill Street
London
EC2A 4DJ
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