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Registration number: 01477221

Poole Dick Associates Limited

Financial Statements

for the Period from 1 March 2023 to 28 February 2024

 

Poole Dick Associates Limited

Contents

Balance Sheet

1

Notes to the Financial Statements

2 to 8

 

Poole Dick Associates Limited

(Registration number: 01477221)
Balance Sheet as at 28 February 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

5

346

940

Tangible assets

6

8,971

12,656

 

9,317

13,596

Current assets

 

Debtors

7

602,335

659,894

Cash at bank and in hand

 

191,365

212,419

 

793,700

872,313

Creditors: Amounts falling due within one year

8

(374,032)

(435,355)

Net current assets

 

419,668

436,958

Total assets less current liabilities

 

428,985

450,554

Creditors: Amounts falling due after more than one year

8

(13,252)

(22,353)

Provisions for liabilities

(1,915)

(1,786)

Net assets

 

413,818

426,415

Capital and reserves

 

Called up share capital

1,214

1,214

Share premium reserve

114,705

114,705

Capital redemption reserve

588

588

Retained earnings

297,311

309,908

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 Board on 28 November 2024 and signed on its behalf by:
 

.........................................
Mr M Brownsill
Director

 

Poole Dick Associates Limited

Notes to the Financial Statements for the Period from 1 March 2023 to 28 February 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Poole Dick Associates
Waterfold Park
Bury
Lancashire
BL9 7BR
UK

2

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
The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 28 November 2024 was Mr Damian Wayne Riley FCCA, who signed for and on behalf of Alextra Audit Limited.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 18 (2023 - 18).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

5,838

7,759

Amortisation expense

594

594

5

Intangible assets

Other intangible assets
 £

Total
£

Cost or valuation

At 1 March 2023

2,970

2,970

At 28 February 2024

2,970

2,970

Amortisation

At 1 March 2023

2,030

2,030

Amortisation charge

594

594

At 28 February 2024

2,624

2,624

Carrying amount

At 28 February 2024

346

346

At 28 February 2023

940

940

 

Poole Dick Associates Limited

Notes to the Financial Statements for the Period from 1 March 2023 to 28 February 2024

6

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Computer equipment
 £

Total
£

Cost or valuation

At 1 March 2023

1,831

93,833

55,586

151,250

Additions

-

2,152

-

2,152

At 28 February 2024

1,831

95,985

55,586

153,402

Depreciation

At 1 March 2023

1,312

84,518

52,763

138,593

Charge for the year

183

3,188

2,467

5,838

At 28 February 2024

1,495

87,706

55,230

144,431

Carrying amount

At 28 February 2024

336

8,279

356

8,971

At 28 February 2023

519

9,314

2,823

12,656

7

Debtors

Current

2024
£

2023
£

Trade debtors

408,140

460,977

Amounts owed by related parties

149,561

95,428

Prepayments

18,746

44,096

Other debtors

25,888

59,393

 

602,335

659,894

 

Poole Dick Associates Limited

Notes to the Financial Statements for the Period from 1 March 2023 to 28 February 2024

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

10,758

10,792

Trade creditors

 

44,649

51,820

Amounts due to related parties

34,508

93,317

Social security and other taxes

 

93,783

61,838

Outstanding defined contribution pension costs

 

3,824

3,296

Other payables

 

1,521

1,145

Accruals

 

56,692

51,761

Income tax liability

51,816

85,749

Gross amount due to customers for contract work

 

76,481

75,637

 

374,032

435,355

Due after one year

 

Loans and borrowings

9

13,252

22,353

2024
£

2023
£

Current loans and borrowings

Bank borrowings

10,758

10,792

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

13,252

22,353

9

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Bank borrowings

10,758

10,792

 

Poole Dick Associates Limited

Notes to the Financial Statements for the Period from 1 March 2023 to 28 February 2024

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

13,252

22,353

10

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2024
£

2023
£

Later than one year and not later than five years

96,141

86,642

11

Parent and ultimate parent undertaking

The company's immediate parent is PDA Holdings Ltd, who is also the ultimate holding company and is incorporated in England & Wales.