IRIS Accounts Production v24.3.0.553 02622727 Board of Directors 30.1.23 31.1.24 31.1.24 false true false false true false 'A' Ordinary 1.00000 'B' Ordinary 1.00000 'C' Ordinary 1.00000 'D' Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh026227272023-01-29026227272024-01-31026227272023-01-302024-01-31026227272022-01-30026227272022-01-312023-01-29026227272023-01-2902622727ns15:EnglandWales2023-01-302024-01-3102622727ns14:PoundSterling2023-01-302024-01-3102622727ns10:Director12023-01-302024-01-3102622727ns10:PrivateLimitedCompanyLtd2023-01-302024-01-3102622727ns10:SmallEntities2023-01-302024-01-3102622727ns10:AuditExempt-NoAccountantsReport2023-01-302024-01-3102622727ns10:SmallCompaniesRegimeForAccounts2023-01-302024-01-3102622727ns10:FullAccounts2023-01-302024-01-3102622727ns10:OrdinaryShareClass22023-01-302024-01-3102622727ns10:OrdinaryShareClass32023-01-302024-01-3102622727ns10:OrdinaryShareClass42023-01-302024-01-3102622727ns10:OrdinaryShareClass52023-01-302024-01-3102622727ns10:Director22023-01-302024-01-3102622727ns10:Director32023-01-302024-01-3102622727ns10:CompanySecretary12023-01-302024-01-3102622727ns10:RegisteredOffice2023-01-302024-01-3102622727ns5:CurrentFinancialInstruments2024-01-3102622727ns5:CurrentFinancialInstruments2023-01-2902622727ns5:Non-currentFinancialInstruments2024-01-3102622727ns5:Non-currentFinancialInstruments2023-01-2902622727ns5:ShareCapital2024-01-3102622727ns5:ShareCapital2023-01-2902622727ns5:RetainedEarningsAccumulatedLosses2024-01-3102622727ns5:RetainedEarningsAccumulatedLosses2023-01-2902622727ns5:PlantMachinery2023-01-302024-01-3102622727ns5:FurnitureFittings2023-01-302024-01-3102622727ns5:MotorVehicles2023-01-302024-01-3102622727ns5:PlantMachinery2023-01-2902622727ns5:FurnitureFittings2023-01-2902622727ns5:MotorVehicles2023-01-2902622727ns5:PlantMachinery2024-01-3102622727ns5:FurnitureFittings2024-01-3102622727ns5:MotorVehicles2024-01-3102622727ns5:PlantMachinery2023-01-2902622727ns5:FurnitureFittings2023-01-2902622727ns5:MotorVehicles2023-01-2902622727ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-01-302024-01-3102622727ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2024-01-3102622727ns5:WithinOneYearns5:CurrentFinancialInstruments2024-01-3102622727ns5:WithinOneYearns5:CurrentFinancialInstruments2023-01-2902622727ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2024-01-3102622727ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2023-01-2902622727ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-01-3102622727ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-01-2902622727ns5:Secured2024-01-3102622727ns5:Secured2023-01-2902622727ns10:OrdinaryShareClass22024-01-3102622727ns10:OrdinaryShareClass32024-01-3102622727ns10:OrdinaryShareClass42024-01-3102622727ns10:OrdinaryShareClass52024-01-31
REGISTERED NUMBER: 02622727 (England and Wales)












Financial Statements

for the period

30th January 2023 to 31st January 2024

for

P & R FINISHING LIMITED

P & R FINISHING LIMITED (REGISTERED NUMBER: 02622727)

Contents of the Financial Statements
for the period 30th January 2023 to 31st January 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


P & R FINISHING LIMITED

Company Information
for the period 30th January 2023 to 31st January 2024







DIRECTORS: R Jerome
Mrs C Jerome
K Jerome



SECRETARY: Mrs C Jerome



REGISTERED OFFICE: Unit 1 Site 2
Northbridge Road
Berkhamsted
Hertfordshire
HP4 1EH



REGISTERED NUMBER: 02622727 (England and Wales)



ACCOUNTANTS: Attenboroughs (Accountants) Limited
Chartered Certified Accountants
1 Tower House
Tower Centre
Hoddesdon
Hertfordshire
EN11 8UR



BANKERS: National Westminster Bank
199 High Street
Berkhamsted
Hertfordshire
HP4 1AW



SOLICITORS: Swatton Hughes & Co.
11 High Street
Tring
Hertfordshire
HP23 5AL

P & R FINISHING LIMITED (REGISTERED NUMBER: 02622727)

Balance Sheet
31st January 2024

31/1/24 29/1/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 6,752 8,910

CURRENT ASSETS
Stocks 5 1,000 250
Debtors 6 142,825 164,548
143,825 164,798
CREDITORS
Amounts falling due within one year 7 212,453 214,850
NET CURRENT LIABILITIES (68,628 ) (50,052 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(61,876

)

(41,142

)

CREDITORS
Amounts falling due after more than one year 8 (24,946 ) (24,946 )

PROVISIONS FOR LIABILITIES (1,282 ) (1,693 )
NET LIABILITIES (88,104 ) (67,781 )

CAPITAL AND RESERVES
Called up share capital 11 53,582 53,582
Retained earnings (141,686 ) (121,363 )
SHAREHOLDERS' FUNDS (88,104 ) (67,781 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31st January 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31st January 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

P & R FINISHING LIMITED (REGISTERED NUMBER: 02622727)

Balance Sheet - continued
31st January 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27th November 2024 and were signed on its behalf by:





R Jerome - Director


P & R FINISHING LIMITED (REGISTERED NUMBER: 02622727)

Notes to the Financial Statements
for the period 30th January 2023 to 31st January 2024


1. STATUTORY INFORMATION

P & R FINISHING LIMITED is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 8 (2023 - 7 ) .

P & R FINISHING LIMITED (REGISTERED NUMBER: 02622727)

Notes to the Financial Statements - continued
for the period 30th January 2023 to 31st January 2024


4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 30th January 2023
and 31st January 2024 44,841 3,590 36,185 84,616
DEPRECIATION
At 30th January 2023 43,513 3,540 28,653 75,706
Charge for period 265 10 1,883 2,158
At 31st January 2024 43,778 3,550 30,536 77,864
NET BOOK VALUE
At 31st January 2024 1,063 40 5,649 6,752
At 29th January 2023 1,328 50 7,532 8,910

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:
Motor
vehicles
£   
COST
At 30th January 2023
DEPRECIATION
Charge for period 1,811
At 31st January 2024 1,811
NET BOOK VALUE
At 31st January 2024 (1,811 )

5. STOCKS
31/1/24 29/1/23
£    £   
Consumable stock 1,000 250

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/1/24 29/1/23
£    £   
Trade debtors 37,934 74,780
Related Company:
Kustom Koating (UK) Limited 93,051 89,768
Directors' current accounts 11,840 -
142,825 164,548

P & R FINISHING LIMITED (REGISTERED NUMBER: 02622727)

Notes to the Financial Statements - continued
for the period 30th January 2023 to 31st January 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/1/24 29/1/23
£    £   
Bank loans and overdrafts (see note 9) 8,799 23,916
Trade creditors 4,646 25,520
Social security and other taxes 83,255 55,068
VAT 94,110 68,714
Other creditors 1,446 11,399
Directors' current accounts 13,397 23,433
Accrued expenses 6,800 6,800
212,453 214,850

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/1/24 29/1/23
£    £   
Bank loans (see note 9) 24,946 24,946

9. LOANS

An analysis of the maturity of loans is given below:

31/1/24 29/1/23
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 7,965 14,026
Bank loans 834 9,890
8,799 23,916

Amounts falling due between one and two years:
Bank loans - 1-2 years 20,537 20,537

Amounts falling due between two and five years:
Bank loans - 2-5 years 4,409 4,409

10. SECURED DEBTS

The following secured debts are included within creditors:

31/1/24 29/1/23
£    £   
Bank overdrafts 7,965 14,026

The bank overdraft is secured by way of a personal guarantee from R Jerome a director of the company.

P & R FINISHING LIMITED (REGISTERED NUMBER: 02622727)

Notes to the Financial Statements - continued
for the period 30th January 2023 to 31st January 2024


11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/1/24 29/1/23
value: £    £   
24,112 'A' Ordinary £1 24,112 24,112
13,396 'B' Ordinary £1 13,396 13,396
5,358 'C' Ordinary £1 5,358 5,358
10,716 'D' Ordinary £1 10,716 10,716
53,582 53,582

12. RELATED PARTY DISCLOSURES

During the year the company was related to Kustom Koating (UK) Limited by way of common control. The amount owed by the related party is separately disclosed under the relevant note to the financial statements.

13. ULTIMATE CONTROLLING PARTY

The controlling party is R Jerome.