Preston Infotech Limited
Registered number: 09433876
Balance Sheet
as at 28 February 2024
Notes 2024 2023
£ £
Current assets
Debtors 3 3,000 8,000
Cash at bank and in hand 447 459
3,447 8,459
Creditors: amounts falling due within one year 4 (930) (580)
Net current assets 2,517 7,879
Total assets less current liabilities 2,517 7,879
Creditors: amounts falling due after more than one year 5 (9,333) (13,398)
Net liabilities (6,816) (5,519)
Capital and reserves
Called up share capital 100 100
Profit and loss account (6,916) (5,619)
Shareholders' funds (6,816) (5,519)
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.
VADALA, Swathi
Director
Approved by the board on 27 November 2024
Preston Infotech Limited
Notes to the Accounts
for the year ended 28 February 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.
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.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company - -
3 Debtors 2024 2023
£ £
Other debtors 3,000 8,000
4 Creditors: amounts falling due within one year 2024 2023
£ £
Other creditors 930 580
5 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 9,333 13,398
6 Other information
Preston Infotech Limited is a private company limited by shares and incorporated in England. Its registered office is:
30 West View,
Chesham,
England,
HP5 3BY
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