Registration number:
Poole Dick Associates Limited
for the Period from 1 March 2023 to 28 February 2024
Poole Dick Associates Limited
(Registration number: 01477221)
Balance Sheet as at 28 February 2024
Note |
2024 |
2023 |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
1,214 |
1,214 |
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Share premium reserve |
114,705 |
114,705 |
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Capital redemption reserve |
588 |
588 |
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Retained earnings |
297,311 |
309,908 |
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Shareholders' funds |
413,818 |
426,415 |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
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Poole Dick Associates Limited
Notes to the Financial Statements for the Period from 1 March 2023 to 28 February 2024
General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
UK
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The financial statements are presented in sterling which is also the functional currency of the company. All monetary amounts are rounded to the nearest £.
Audit report
Judgements
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. |
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods. |
Poole Dick Associates Limited
Notes to the Financial Statements for the Period from 1 March 2023 to 28 February 2024
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The Company recognises revenue when the amount of revenue can be reliably measured and it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the Company's activities.
Turnover in respect of long term contracts and contracts for ongoing services represents the value of work done in the year including estimates of amounts not invoiced, and is recognised by reference to the stage of completion at the balance sheet date.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Fixture, fittings and equipment |
20%-33% reducing balance |
Computer equipment |
33.3% straight line |
Poole Dick Associates Limited
Notes to the Financial Statements for the Period from 1 March 2023 to 28 February 2024
Intangible assets
Intangible assets are measured at cost less accumulated amortisation and any accumulated impairment losses.
Amortisation is charged so as to allocate the cost of intangibles less their residual values over their estimated useful lives, using the straight-line method. The intangible assets are amortised over the following useful economic lives:
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Asset class |
Amortisation method and rate |
Software |
20% straight line |
Stocks
Work in progress is valued at the lower of cost and net realisable value. Cost is based on the labour charged to specific jobs for providing services together with associated expenses and attributable overheads.
Long term contracts are assessed on a contract by contract basis and where a contract can be assessed with reasonable certainty, contract costs and turnover are recognised in the profit and loss account by reference to the percentage stage of completion at the balance sheet date. Where a contract can not be assessed with reasonable certainty, turnover is only recognised to the extent that the contract costs incurred are expected to be recovered. Any foreseeable losses on a contract are recognised immediately in the profit and loss account.
Amounts recoverable on long term contracts are stated at cost plus recognised profits less foreseeable losses and invoices raised on account. The net amount is disclosed in debtors.
Payments on account in excess of amounts recoverable on long term contacts are included in creditors.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Poole Dick Associates Limited
Notes to the Financial Statements for the Period from 1 March 2023 to 28 February 2024
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Staff numbers |
The average number of persons employed by the company (including directors) during the period, was
Profit before tax |
Arrived at after charging/(crediting)
2024 |
2023 |
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Depreciation expense |
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Amortisation expense |
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Intangible assets |
Other intangible assets |
Total |
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Cost or valuation |
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At 1 March 2023 |
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At 28 February 2024 |
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Amortisation |
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At 1 March 2023 |
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Amortisation charge |
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At 28 February 2024 |
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Carrying amount |
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At 28 February 2024 |
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At 28 February 2023 |
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Poole Dick Associates Limited
Notes to the Financial Statements for the Period from 1 March 2023 to 28 February 2024
Tangible assets |
Land and buildings |
Furniture, fittings and equipment |
Computer equipment |
Total |
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Cost or valuation |
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At 1 March 2023 |
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Additions |
- |
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- |
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At 28 February 2024 |
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Depreciation |
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At 1 March 2023 |
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Charge for the year |
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At 28 February 2024 |
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Carrying amount |
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At 28 February 2024 |
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At 28 February 2023 |
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Debtors |
Current |
2024 |
2023 |
Trade debtors |
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Amounts owed by related parties |
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Prepayments |
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Other debtors |
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Poole Dick Associates Limited
Notes to the Financial Statements for the Period from 1 March 2023 to 28 February 2024
Creditors |
Creditors: amounts falling due within one year
Note |
2024 |
2023 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Amounts due to related parties |
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Social security and other taxes |
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Outstanding defined contribution pension costs |
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Other payables |
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Accruals |
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Income tax liability |
51,816 |
85,749 |
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Gross amount due to customers for contract work |
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Due after one year |
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Loans and borrowings |
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2024 |
2023 |
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Current loans and borrowings |
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Bank borrowings |
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Creditors: amounts falling due after more than one year
Note |
2024 |
2023 |
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Due after one year |
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Loans and borrowings |
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Loans and borrowings |
2024 |
2023 |
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Current loans and borrowings |
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Bank borrowings |
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Poole Dick Associates Limited
Notes to the Financial Statements for the Period from 1 March 2023 to 28 February 2024
2024 |
2023 |
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Non-current loans and borrowings |
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Bank borrowings |
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Obligations under leases and hire purchase contracts |
Operating leases
The total of future minimum lease payments is as follows:
2024 |
2023 |
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Later than one year and not later than five years |
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Parent and ultimate parent undertaking |
The company's immediate parent is