Registered number
09330218
PD SCIENCES LIMITED
Filleted Accounts
26 May 2024
PD SCIENCES LIMITED
Registered number: 09330218
Balance Sheet
as at 26 May 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 326 366
Tangible assets 4 493,696 497,182
494,022 497,548
Current assets
Debtors 5 10,435 6,800
Cash at bank and in hand 25,994 42,453
36,429 49,253
Creditors: amounts falling due within one year 6 (56,206) (37,407)
Net current (liabilities)/assets (19,777) 11,846
Total assets less current liabilities 474,245 509,394
Creditors: amounts falling due after more than one year 7 (175,268) (246,268)
Net assets 298,977 263,126
Capital and reserves
Called up share capital 100 100
Profit and loss account 298,877 263,026
Shareholder's funds 298,977 263,126
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 member has 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.
Dr Anilkumar Patel
Director
Approved by the board on 20 August 2024
PD SCIENCES LIMITED
Notes to the Accounts
for the year ended 26 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. Turnover also includes Rental income.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. Intangibles are being written off over 10 years.
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:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery 25% Reducing Balance Method
Fixtures, fittings, tools and equipment 12.5% Straight Line Method
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
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 2 2
3 Intangible fixed assets £
Goodwill:
Cost
At 27 May 2023 407
At 26 May 2024 407
Amortisation
At 27 May 2023 41
Provided during the year 40
At 26 May 2024 81
Net book value
At 26 May 2024 326
At 26 May 2023 366
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 27 May 2023 486,468 6,777 25,844 519,089
At 26 May 2024 486,468 6,777 25,844 519,089
Depreciation
At 27 May 2023 - 5,755 16,152 21,907
Charge for the year - 255 3,231 3,486
At 26 May 2024 - 6,010 19,383 25,393
Net book value
At 26 May 2024 486,468 767 6,461 493,696
At 26 May 2023 486,468 1,022 9,692 497,182
5 Debtors 2024 2023
£ £
Trade debtors 10,435 6,419
Other debtors - 381
10,435 6,800
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 7,820 5,535
Taxation and social security costs 14,485 5,224
Other creditors 33,901 26,648
56,206 37,407
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank and Shareholder loans 175,268 246,268
8 Other information
PD SCIENCES LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
C/O Able & Young Ltd
Airport House
Purley Way
Croydon, Surrey
CR0 0XZ
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