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REGISTERED NUMBER: 12186366 (England and Wales)















Unaudited Financial Statements for the Year Ended 30th September 2024

for

PBS COMMERCIAL LTD

PBS COMMERCIAL LTD (REGISTERED NUMBER: 12186366)






Contents of the Financial Statements
for the Year Ended 30th September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PBS COMMERCIAL LTD

Company Information
for the Year Ended 30th September 2024







DIRECTORS: Mr M P Gallery
Mr M Gallery
Mrs M Gallery





SECRETARY: Mrs M Gallery





REGISTERED OFFICE: 41 St Thomas's Road
Chorley
Lancashire
PR7 1JE





REGISTERED NUMBER: 12186366 (England and Wales)





ACCOUNTANTS: Abrams Ashton - Chorley Limited
Chartered Certified Accountants
41 St Thomas's Road
Chorley
Lancashire
PR7 1JE

PBS COMMERCIAL LTD (REGISTERED NUMBER: 12186366)

Balance Sheet
30th September 2024

30.9.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 45,621 50,288
Investment property 4 925,119 915,398
970,740 965,686

CURRENT ASSETS
Debtors 5 22,671 1,801
Cash at bank 27,499 27,586
50,170 29,387
CREDITORS
Amounts falling due within one year 6 810,538 795,231
NET CURRENT LIABILITIES (760,368 ) (765,844 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

210,372

199,842

CREDITORS
Amounts falling due after more than one
year

7

(175,855

)

(192,184

)

PROVISIONS FOR LIABILITIES (7,163 ) (1,437 )
NET ASSETS 27,354 6,221

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 27,254 6,121
SHAREHOLDERS' FUNDS 27,354 6,221

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

PBS COMMERCIAL LTD (REGISTERED NUMBER: 12186366)

Balance Sheet - continued
30th September 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4th January 2025 and were signed on its behalf by:





Mr M P Gallery - Director


PBS COMMERCIAL LTD (REGISTERED NUMBER: 12186366)

Notes to the Financial Statements
for the Year Ended 30th September 2024

1. STATUTORY INFORMATION

PBS Commercial Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Revenue represents rental income and service charges receivable during the period.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Computer equipment - 33.3% on cost

Impairment of assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Investment properties are held to earn rentals. They are initially measured at cost, including transaction costs. Subsequently, they are measured at fair value and are based on an open market value. Deferred tax is provided on these movements. Gains and losses arising from changes in the fair values are included in the Statement of Income in the period in which they arise. All investment properties within the company are recent acquisitions, hence the director considers the costs to reflect current value.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments' of FRS 102 to all its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


PBS COMMERCIAL LTD (REGISTERED NUMBER: 12186366)

Notes to the Financial Statements - continued
for the Year Ended 30th September 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Cash and cash equivalents
Cash and cash equivalents includes cash in hand, deposits held with banks, and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities.

3. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1st October 2023 93,360 5,990 99,350
Additions 4,690 1,028 5,718
At 30th September 2024 98,050 7,018 105,068
DEPRECIATION
At 1st October 2023 43,072 5,990 49,062
Charge for year 10,214 171 10,385
At 30th September 2024 53,286 6,161 59,447
NET BOOK VALUE
At 30th September 2024 44,764 857 45,621
At 30th September 2023 50,288 - 50,288

PBS COMMERCIAL LTD (REGISTERED NUMBER: 12186366)

Notes to the Financial Statements - continued
for the Year Ended 30th September 2024

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st October 2023 915,398
Additions 9,721
At 30th September 2024 925,119
NET BOOK VALUE
At 30th September 2024 925,119
At 30th September 2023 915,398

In the current year there have been no material changes to affect these valuations.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade debtors 2,400 -
Other debtors 20,271 -
VAT - 1,801
22,671 1,801

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Bank loans and overdrafts 16,648 15,208
Trade creditors 1,800 -
VAT 1,327 -
Other creditors 780,753 769,088
Directors' current accounts 8,960 9,910
Accrued expenses 1,050 1,025
810,538 795,231

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.24 30.9.23
£    £   
Bank loans - 1-2 years 17,648 16,608
Bank loans - 2-5 years 26,091 32,946
Bank loans more 5 yr by instal 132,116 142,630
175,855 192,184

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 132,116 142,630

PBS COMMERCIAL LTD (REGISTERED NUMBER: 12186366)

Notes to the Financial Statements - continued
for the Year Ended 30th September 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

30.9.24 30.9.23
£    £   
Bank loans 192,503 207,392

The first bank loan is secured by a legal charge over the company's assets and property.

The second bank loan is the government-backed Bounce Back Loan.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.24 30.9.23
value: £    £   
100 Ordinary £1 100 100

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The balance of the loan due to the directors at the balance sheet date was £8,960 (2023: £9,910). There is no interest payable on this loan and settlement is on demand. The directors have confirmed that they will not draw against this loan until such time that the company can sustain repayment whilst maintaining its trading operations.

11. RELATED PARTY DISCLOSURES

As at 30 September 2024, the company owed £780,753 (2023: £769,088) to Anchor Pin Engineering Limited, a company controlled by Mr M P Gallery. No interest has been charged in respect of this loan and the balance is repayable on demand.

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr M P Gallery.