Registered number
08228208
POS-HARDWARE LIMITED
Filleted Accounts
29 September 2024
POS-HARDWARE LIMITED
Registered number: 08228208
Balance Sheet
as at 29 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 112 474
Investments 4 4,867 2,367
4,979 2,841
Current assets
Stocks 4,073 9,717
Debtors 5 6,834 19,003
Cash at bank and in hand 31,892 43,030
42,799 71,750
Creditors: amounts falling due within one year 7 (39,585) (60,977)
Net current assets 3,214 10,773
Net assets 8,193 13,614
Capital and reserves
Called up share capital 4 4
Profit and loss account 8,189 13,610
Shareholders' funds 8,193 13,614
The director is 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 director acknowledges his 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.
Charles Dominic Mitchell
Director
Approved by the board on 4 February 2025
POS-HARDWARE LIMITED
Notes to the Accounts
for the year ended 29 September 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
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.
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 30 September 2023 5,828
At 29 September 2024 5,828
Depreciation
At 30 September 2023 5,354
Charge for the year 362
At 29 September 2024 5,716
Net book value
At 29 September 2024 112
At 29 September 2023 474
4 Investments
Other
investments
£
Cost
At 30 September 2023 2,367
Additions 3,000
Disposals (500)
At 29 September 2024 4,867
5 Debtors 2024 2023
£ £
Trade debtors 6,834 9,969
Directors Loan Account - 9,034
6,834 19,003
6 Investments held as current assets 2024 2023
£ £
Fair value
Increase/(decrease) in fair value included in the profit and loss account for the financial year
Unlisted investments (500) -
7 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 34,122 25,525
Taxation and social security costs 5,363 35,352
Other creditors 100 100
39,585 60,977
8 Other information
POS-HARDWARE LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
The Croft
Clifton Street
Laugharne
Carmarthen
SA33 4QG
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