4 5 We Are Pi Limited 11290414 false 2023-05-01 2024-04-30 2024-04-30 The principal activity of the company is accountancy & tax services Digita Accounts Production Advanced 6.30.9574.0 true 11290414 2023-05-01 2024-04-30 11290414 2024-04-30 11290414 bus:OrdinaryShareClass1 2024-04-30 11290414 core:CurrentFinancialInstruments 2024-04-30 11290414 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 11290414 core:Non-currentFinancialInstruments core:AfterOneYear 2024-04-30 11290414 core:FurnitureFittingsToolsEquipment 2024-04-30 11290414 core:OtherPropertyPlantEquipment 2024-04-30 11290414 bus:SmallEntities 2023-05-01 2024-04-30 11290414 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 11290414 bus:AbridgedAccounts 2023-05-01 2024-04-30 11290414 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 11290414 bus:RegisteredOffice 2023-05-01 2024-04-30 11290414 bus:Director1 2023-05-01 2024-04-30 11290414 bus:Director2 2023-05-01 2024-04-30 11290414 bus:OrdinaryShareClass1 2023-05-01 2024-04-30 11290414 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 11290414 core:FurnitureFittingsToolsEquipment 2023-05-01 2024-04-30 11290414 core:OfficeEquipment 2023-05-01 2024-04-30 11290414 core:OtherPropertyPlantEquipment 2023-05-01 2024-04-30 11290414 core:PlantMachinery 2023-05-01 2024-04-30 11290414 countries:England 2023-05-01 2024-04-30 11290414 2023-04-30 11290414 core:FurnitureFittingsToolsEquipment 2023-04-30 11290414 core:OtherPropertyPlantEquipment 2023-04-30 11290414 2022-05-01 2023-04-30 11290414 2023-04-30 11290414 bus:OrdinaryShareClass1 2023-04-30 11290414 core:CurrentFinancialInstruments 2023-04-30 11290414 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 11290414 core:Non-currentFinancialInstruments core:AfterOneYear 2023-04-30 11290414 core:FurnitureFittingsToolsEquipment 2023-04-30 11290414 core:OtherPropertyPlantEquipment 2023-04-30 xbrli:pure iso4217:GBP xbrli:shares

Registration number: 11290414

We Are Pi Limited

trading as Pi Accountants

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 30 April 2024

 

We Are Pi Limited

trading as Pi Accountants

Directors' Report for the Year Ended 30 April 2024

The directors present their report and the abridged financial statements for the year ended 30 April 2024.

Directors of the company

The directors who held office during the year were as follows:

Ms Angelique Wright

Mr Mark Andrew Jones

Principal activity

The principal activity of the company is accountancy & tax services

Small companies provision statement

This report has 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.

Approved and authorised by the Board on 31 January 2025 and signed on its behalf by:
 

.........................................
Ms Angelique Wright
Director

 

We Are Pi Limited

trading as Pi Accountants

(Registration number: 11290414)
Abridged Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

10,633

13,356

Current assets

 

Debtors

6

680,039

327,549

Cash at bank and in hand

 

485,172

153,452

 

1,165,211

481,001

Creditors: Amounts falling due within one year

(1,009,321)

(387,459)

Net current assets

 

155,890

93,542

Total assets less current liabilities

 

166,523

106,898

Creditors: Amounts falling due after more than one year

(58,298)

(37,465)

Net assets

 

108,225

69,433

Capital and reserves

 

Called up share capital

7

10

10

Retained earnings

108,215

69,423

Shareholders' funds

 

108,225

69,433

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 31 January 2025 and signed on its behalf by:
 

 

We Are Pi Limited

trading as Pi Accountants

(Registration number: 11290414)
Abridged Balance Sheet as at 30 April 2024

.........................................
Ms Angelique Wright
Director

 

We Are Pi Limited

trading as Pi Accountants

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2024

1

General information

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

The address of its registered office is:
Little Mead
Hollingdon
Nr Soulbury
Buckinghamshire
LU7 0DN
England

These financial statements were authorised for issue by the Board on 31 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 abridged 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 abridged 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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

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.

 

We Are Pi Limited

trading as Pi Accountants

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2024

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

Straight line 33.33%

Plant & Machinery

Straight line 50%

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

We Are Pi Limited

trading as Pi Accountants

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2024

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2023 - 5).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

6,628

2,024

 

We Are Pi Limited

trading as Pi Accountants

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2024

5

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 May 2023

5,801

11,457

17,258

Additions

2,380

1,525

3,905

At 30 April 2024

8,181

12,982

21,163

Depreciation

At 1 May 2023

2,577

1,325

3,902

Charge for the year

2,253

4,375

6,628

At 30 April 2024

4,830

5,700

10,530

Carrying amount

At 30 April 2024

3,351

7,282

10,633

At 30 April 2023

3,224

10,132

13,356

6

Debtors

Debtors includes £Nil (2023 - £Nil) due after more than one year.

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

1

1

1

1