Registered number
SC726074
PB2 LTD
Filleted Accounts
31 March 2024
PB2 LTD
Registered number: SC726074
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 25,000 25,000
Tangible assets 4 135,569 125,857
160,569 150,857
Current assets
Stocks 6,501 1,975
Debtors 5 20,384 46,284
Cash at bank and in hand 22,118 14,714
49,003 62,973
Creditors: amounts falling due within one year 6 (81,219) (2,698)
Net current (liabilities)/assets (32,216) 60,275
Total assets less current liabilities 128,353 211,132
Creditors: amounts falling due after more than one year 7 (537,605) (489,500)
Net liabilities (409,252) (278,368)
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account (410,252) (279,368)
Shareholders' funds (409,252) (278,368)
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.
Mr Malik Farukh Hafeez
Director
Approved by the board on 22 October 2024
PB2 LTD
Notes to the Accounts
for the year ended 31 March 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Fixtures, fittings, tools and equipment over 5 years
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)
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 38 12
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2023 25,000
At 31 March 2024 25,000
Amortisation
At 31 March 2024 -
Net book value
At 31 March 2024 25,000
At 31 March 2023 25,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Fixtures & Fittings
£
Cost
At 1 April 2023 139,841
Additions 24,775
At 31 March 2024 164,616
Depreciation
At 1 April 2023 13,984
Charge for the year 15,063
At 31 March 2024 29,047
Net book value
At 31 March 2024 135,569
At 31 March 2023 125,857
5 Debtors 2024 2023
£ £
Other debtors 20,384 46,284
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 4,729 -
Trade creditors - 1,157
Taxation and social security costs 25,699 -
Other creditors 50,791 1,541
81,219 2,698
7 Creditors: amounts falling due after one year 2024 2023
£ £
Directors loan account 527,605 489,500
Other creditors 10,000 -
537,605 489,500
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