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Registration number: 07611459

P and E Yorkshire Ltd

Annual Report and Unaudited Financial Statements

For The Year Ended 31 August 2024

 

P and E Yorkshire Ltd

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

P and E Yorkshire Ltd

(Registration number: 07611459)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

           

Fixed assets

   

 

Intangible assets

4

 

232,641

 

310,188

Tangible assets

5

 

289

 

433

Investment property

6

 

665,148

 

789,904

   

898,078

 

1,100,525

Current assets

   

 

Stocks

7

290,510

 

288,376

 

Debtors

8

227,932

 

231,131

 

Cash at bank and in hand

 

37,273

 

49,840

 

 

555,715

 

569,347

 

Creditors: Amounts falling due within one year

9

(854,355)

 

(1,039,066)

 

Net current liabilities

   

(298,640)

 

(469,719)

Net assets

   

599,438

 

630,806

Capital and reserves

   

 

Called up share capital

100

 

100

 

Profit and loss account

599,338

 

630,706

 

Total equity

   

599,438

 

630,806

For the financial 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 accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 24 January 2025
 

.........................................
Mr Patrick Noble
Director

 

P and E Yorkshire Ltd

Notes to the Unaudited Financial Statements For The Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
11 Fusion Court
Aberford Road
Garforth
LS25 2GH

These financial statements were authorised for issue by the director on 24 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in Sterling (£).

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment and fittings

10% on the reducing balance

 

P and E Yorkshire Ltd

Notes to the Unaudited Financial Statements For The Year Ended 31 August 2024

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the director. The director uses observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10 years

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Share capital

Ordinary shares are classified as equity.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

P and E Yorkshire Ltd

Notes to the Unaudited Financial Statements For The Year Ended 31 August 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 September 2023

1,134,836

1,134,836

At 31 August 2024

1,134,836

1,134,836

Amortisation

At 1 September 2023

824,648

824,648

Amortisation charge

77,547

77,547

At 31 August 2024

902,195

902,195

Carrying amount

At 31 August 2024

232,641

232,641

At 31 August 2023

310,188

310,188

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 September 2023

1,592

1,592

At 31 August 2024

1,592

1,592

Depreciation

At 1 September 2023

1,159

1,159

Charge for the year

144

144

At 31 August 2024

1,303

1,303

Carrying amount

At 31 August 2024

289

289

At 31 August 2023

433

433

 

P and E Yorkshire Ltd

Notes to the Unaudited Financial Statements For The Year Ended 31 August 2024

6

Investment properties

2024
£

At 1 September

789,904

Disposals

(124,756)

At 31 August

665,148

The director has reviewed the value of the company's investment properties and used his local knowledge and statistical data provided by RICS. In his opinion, the carrying value of the properties is not materially different to their fair value.

There has been no valuation of investment property by an independent valuer.

7

Stocks

2024
£

2023
£

Other inventories

290,510

288,376

8

Debtors

Current

2024
£

2023
£

Trade debtors

218,470

223,226

Prepayments

6,091

-

Other debtors

3,371

7,905

 

227,932

231,131

9

Creditors

2024
£

2023
£

Due within one year

Trade creditors

18,477

44,785

Taxation and social security

24,401

23,347

Other creditors

811,477

970,934

854,355

1,039,066