Company registration number 10640898 (England and Wales)
PIVOT AND CROP LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024
PIVOT AND CROP LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 4
PIVOT AND CROP LIMITED
BALANCE SHEET
AS AT
28 FEBRUARY 2024
28 February 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
4,420
5,391
Current assets
Stocks
495
455
Debtors
4
4,868
3,347
Cash at bank and in hand
6,825
9,078
12,188
12,880
Creditors: amounts falling due within one year
5
(9,522)
(9,160)
Net current assets
2,666
3,720
Total assets less current liabilities
7,086
9,111
Creditors: amounts falling due after more than one year
6
(4,128)
(6,653)
Net assets
2,958
2,458
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
2,858
2,358
Total equity
2,958
2,458
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 28 February 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 members have 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.
PIVOT AND CROP LIMITED
BALANCE SHEET (CONTINUED)
AS AT
28 FEBRUARY 2024
28 February 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 15 November 2024 and are signed on its behalf by:
Yasar Mahmood
Director
Company registration number 10640898 (England and Wales)
PIVOT AND CROP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024
- 3 -
1
Accounting policies
Company information
Pivot and Crop Limited is a private company limited by shares incorporated in England and Wales. The registered office is 12a Legge Lane, Birmingham, B1 3LD.
1.1
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. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
18% on reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
1.5
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.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
4
4
PIVOT AND CROP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2024
- 4 -
3
Tangible fixed assets
Plant and equipment
£
Cost
At 1 March 2023 and 28 February 2024
9,808
Depreciation and impairment
At 1 March 2023
4,417
Depreciation charged in the year
971
At 28 February 2024
5,388
Carrying amount
At 28 February 2024
4,420
At 28 February 2023
5,391
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
348
Other debtors
4,868
2,999
4,868
3,347
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
2,525
2,462
Taxation and social security
348
341
Other creditors
6,649
6,357
9,522
9,160
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
4,128
6,653
7
Ultimate Controlling Party
The company is jointly controlled by Yasar Mahmood and Kerry Priestley.