Registered number
05683176
P R Tool Supplies Ltd
Filleted Accounts
31 March 2024
P R Tool Supplies Ltd
Company Information
Directors
A J Green
Mrs J E Green
P A Roberts
Mrs J Roberts
Accountants
Anderson Griffin
Rotunda Buildings
Montpellier Exchange
Cheltenham
Glos
Registered office
45 Addison Road
Millbrook Park
Worcester
Registered number
05683176
P R Tool Supplies Ltd
Registered number: 05683176
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 8,250 -
Current assets
Stocks 1,875 1,458
Debtors 4 90,436 84,764
Cash at bank and in hand 64,142 81,015
156,453 167,237
Creditors: amounts falling due within one year 5 (48,642) (53,790)
Net current assets 107,811 113,447
Total assets less current liabilities 116,061 113,447
Creditors: amounts falling due after more than one year 6 (62,835) (38,106)
Net assets 53,226 75,341
Capital and reserves
Called up share capital 4 4
Profit and loss account 53,222 75,337
Shareholders' funds 53,226 75,341
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.
Mrs J E Green
Director
Approved by the board on 31 October 2024
P R Tool Supplies Ltd
Notes to the Accounts
for the year ended 31 March 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:
Office equipment 25% straight line
Furniture and fixtures 25% straight line
Motor vehicles 25% straight line
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.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 4
3 Tangible fixed assets
Office equipment Motor vehicles Total
£ £ £
Cost
At 1 April 2023 2,070 10,050 12,120
Additions - 11,000 11,000
At 31 March 2024 2,070 21,050 23,120
Depreciation
At 1 April 2023 2,070 10,050 12,120
Charge for the year - 2,750 2,750
At 31 March 2024 2,070 12,800 14,870
Net book value
At 31 March 2024 - 8,250 8,250
4 Debtors 2024 2023
£ £
Trade debtors 90,436 84,764
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 31,012 21,228
Other taxes and social security costs 14,835 29,767
Other creditors 2,795 2,795
48,642 53,790
6 Creditors: amounts falling due after one year 2024 2023
£ £
Directors loans 62,835 38,106
7 Controlling party
The company is controlled by the Mr A J Green & Mrs J E Green
8 Other information
P R Tool Supplies Ltd is a private company limited by shares and incorporated in England. Its registered office is:
45 Addison Road
Millbrook Park
Worcester
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