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Company registration number: 04070792
PC Peripherals Ltd
Unaudited filleted financial statements
31 August 2024
PC Peripherals Ltd
Contents
Directors and other information
Accountants report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
PC Peripherals Ltd
Directors and other information
Director Shahin Sherafati Tabarestani
Company number 04070792
Registered office Unit 6 Central Business Centre
Iron Bridge Close
Great Central Way
London
NW10 0UR
Accountants Passer & Co
20 Sunningdale Close
Stanmore
HA7 3QL
PC Peripherals Ltd
Chartered accountants report to the director on the preparation of the
unaudited statutory financial statements of PC Peripherals Ltd
Year ended 31 August 2024
As described on the statement of financial position, the director of the company is responsible for the preparation of the financial statements for the year ended 31 August 2024 which comprise the statement of financial position, statement of changes in equity and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
Passer & Co
20 Sunningdale Close
Stanmore
HA7 3QL
16 January 2025
PC Peripherals Ltd
Statement of financial position
31 August 2024
2024 2023
Note £ £ £ £
Fixed assets
Intangible assets 5 155,000 170,000
Tangible assets 6 2,066 2,431
_______ _______
157,066 172,431
Current assets
Stocks 1,044,770 926,876
Debtors 7 791,683 623,121
Cash at bank and in hand 193,911 358,854
_______ _______
2,030,364 1,908,851
Creditors: amounts falling due
within one year 8 ( 1,475,354) ( 1,486,372)
_______ _______
Net current assets 555,010 422,479
_______ _______
Total assets less current liabilities 712,076 594,910
Creditors: amounts falling due
after more than one year 9 ( 152,521) ( 28,529)
_______ _______
Net assets 559,555 566,381
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 559,455 566,281
_______ _______
Shareholders funds 559,555 566,381
_______ _______
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 16 January 2025 , and are signed on behalf of the board by:
Shahin Sherafati Tabarestani
Director
Company registration number: 04070792
PC Peripherals Ltd
Statement of changes in equity
Year ended 31 August 2024
Called up share capital Profit and loss account Total
£ £ £
At 1 September 2022 100 389,574 389,674
Profit for the year 176,707 176,707
_______ _______ _______
Total comprehensive income for the year - 176,707 176,707
_______ _______ _______
At 31 August 2023 and 1 September 2023 100 566,281 566,381
Profit for the year 93,174 93,174
_______ _______ _______
Total comprehensive income for the year - 93,174 93,174
Dividends paid and payable ( 100,000) ( 100,000)
_______ _______ _______
Total investments by and distributions to owners - ( 100,000) ( 100,000)
_______ _______ _______
At 31 August 2024 100 559,455 559,555
_______ _______ _______
PC Peripherals Ltd
Notes to the financial statements
Year ended 31 August 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 6 Central Business Centre, Iron Bridge Close, Great Central Way, London, NW10 0UR.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 15 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 14 (2023: 14 ).
5. Intangible assets
Goodwill Total
£ £
Cost
At 1 September 2023 and 31 August 2024 1,498,000 1,498,000
_______ _______
Amortisation
At 1 September 2023 1,328,000 1,328,000
Charge for the year 15,000 15,000
_______ _______
At 31 August 2024 1,343,000 1,343,000
_______ _______
Carrying amount
At 31 August 2024 155,000 155,000
_______ _______
At 31 August 2023 170,000 170,000
_______ _______
6. Tangible assets
Fixtures, fittings and equipment Total
£ £
Cost
At 1 September 2023 and 31 August 2024 48,151 48,151
_______ _______
Depreciation
At 1 September 2023 45,720 45,720
Charge for the year 365 365
_______ _______
At 31 August 2024 46,085 46,085
_______ _______
Carrying amount
At 31 August 2024 2,066 2,066
_______ _______
At 31 August 2023 2,431 2,431
_______ _______
7. Debtors
2024 2023
£ £
Trade debtors 565,809 604,350
Other debtors 225,874 18,771
_______ _______
791,683 623,121
_______ _______
8. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 986,225 1,041,632
Corporation tax 1,337 -
Social security and other taxes 91,124 74,480
Other creditors 396,668 370,260
_______ _______
1,475,354 1,486,372
_______ _______
9. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans and overdrafts 152,521 28,529
_______ _______
10. Controlling party
The Company is controlled by its Director by virtue of his share holding.