PC HOUSE (LONDON) LTD
Registered number: 09535664
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 43,496 49,848
Current assets
Stocks 83,769 86,761
Debtors 4 3,975 3,975
Cash at bank and in hand 7,122 4,990
94,866 95,726
Creditors: amounts falling due within one year 5 (50,944) (38,438)
Net current assets 43,922 57,288
Total assets less current liabilities 87,418 107,136
Creditors: amounts falling due after more than one year 6 (247,284) (251,295)
Net liabilities (159,866) (144,159)
Capital and reserves
Called up share capital 100 100
Profit and loss account (159,966) (144,259)
Shareholders' funds (159,866) (144,159)
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.
Waseem Akhtar
Director
Approved by the board on 11 December 2024
PC HOUSE (LONDON) LTD
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
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.
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:
Leasehold Improvements over the lease term
Computer equipment Over 3 years
Fixtures, fittings, tools and equipment 15% redcing balance
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. Stock adjustmunt for theft of stock refelected in accounts for 30th April 2021.
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 4 4
3 Tangible fixed assets
Leasehold improvements Equipment, Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
At 1 May 2023 34,130 33,280 36,012 103,422
At 30 April 2024 34,130 33,280 36,012 103,422
Depreciation
At 1 May 2023 - 22,262 31,312 53,574
Charge for the year - 1,652 4,700 6,352
At 30 April 2024 - 23,914 36,012 59,926
Net book value
At 30 April 2024 34,130 9,366 - 43,496
At 30 April 2023 34,130 11,018 4,700 49,848
4 Debtors 2024 2023
£ £
Other debtors 3,975 3,975
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 5,183 4,735
Other taxes and social security costs (28) (1,463)
Other creditors 45,789 35,166
50,944 38,438
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 26,651 36,782
Directors Loan (Saleem Farooq) 220,633 214,513
247,284 251,295
7 Controlling party
The ultimate controlling interest is held by the directors Mrs Muntaha Saleem and Mr Saleem Farooq.
8 Other information
Stock adjustmunt for theft of stock refelected in accounts for 30th April 2021.
PC HOUSE (LONDON) LTD is a private company limited by shares and incorporated in England. Its registered office is:
172-174 High Road
Ilford
Essex
IG1 1LL
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