Registered number
12632753
PRESTON ROADMARKINGS LIMITED
Filleted Accounts
31 May 2024
PRESTON ROADMARKINGS LIMITED
Registered number: 12632753
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 7,258 9,677
Current assets
Debtors 4 28,445 39,976
Cash at bank and in hand 36,595 43,449
65,040 83,425
Creditors: amounts falling due within one year 5 (24,460) (57,206)
Net current assets 40,580 26,219
Net assets 47,838 35,896
Capital and reserves
Called up share capital 2 2
Profit and loss account 47,836 35,894
Shareholders' funds 47,838 35,896
The directors are 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 directors acknowledge their 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.
Mark Andrew Preston
Director
Approved by the board on 9 October 2024
PRESTON ROADMARKINGS LIMITED
Notes to the Accounts
for the year ended 31 May 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 is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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:
Plant and machinery 25 % Reducing balance
Motor Vehicle 25 % Reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 4
3 Tangible fixed assets
Plant and machinery Motor vehicles Total
£ £ £
Cost
At 1 June 2023 8,880 15,720 24,600
At 31 May 2024 8,880 15,720 24,600
Depreciation
At 1 June 2023 5,052 9,871 14,923
Charge for the year 957 1,462 2,419
At 31 May 2024 6,009 11,333 17,342
Net book value
At 31 May 2024 2,871 4,387 7,258
At 31 May 2023 3,828 5,849 9,677
4 Debtors 2024 2023
£ £
Trade debtors 27,855 37,871
CIS Suffered 590 2,105
28,445 39,976
5 Creditors: amounts falling due within one year 2024 2023
£ £
Corporation tax 530
Other creditors 23,930 57,206
24,460 57,206
6 Other information
PRESTON ROADMARKINGS LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
20 Braemar Avenue
Stretford
Manchester
England
M32 9NA
7 Related party transactions
During the year the director(s) provided unsecured loan to company for £ 408 .No interest is charged on the balance. At the balance sheet date, the loan is still outstanding.
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