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REGISTERED NUMBER: 06344823 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 August 2024

for

Peter Skinner & Associates Limited

Peter Skinner & Associates Limited (Registered number: 06344823)






Contents of the Financial Statements
for the Year Ended 31 August 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Peter Skinner & Associates Limited

Company Information
for the Year Ended 31 August 2024







DIRECTOR: P Skinner





SECRETARY: Stafford House Secretarial Services Ltd





REGISTERED OFFICE: The Annex
Pole House
Ide
Exeter
Devon
EX2 9RY





REGISTERED NUMBER: 06344823 (England and Wales)





ACCOUNTANTS: A C Mole LLP
Stafford House
Blackbrook Park Avenue
Taunton
Somerset
TA1 2PX

Peter Skinner & Associates Limited (Registered number: 06344823)

Balance Sheet
31 August 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,610 2,146
Tangible assets 5 46 289
Investment property 6 325,000 325,000
326,656 327,435

CURRENT ASSETS
Debtors 7 32,872 32,358
Cash at bank 91,801 93,009
124,673 125,367
CREDITORS
Amounts falling due within one year 8 35,960 32,962
NET CURRENT ASSETS 88,713 92,405
TOTAL ASSETS LESS CURRENT
LIABILITIES

415,369

419,840

CREDITORS
Amounts falling due after more than one
year

9

(92,265

)

(99,089

)

PROVISIONS FOR LIABILITIES (22,168 ) (22,229 )
NET ASSETS 300,936 298,522

CAPITAL AND RESERVES
Called up share capital 100 100
Undistributable reserve 11 66,470 66,470
Retained earnings 234,366 231,952
SHAREHOLDERS' FUNDS 300,936 298,522

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Peter Skinner & Associates Limited (Registered number: 06344823)

Balance Sheet - continued
31 August 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 director and authorised for issue on 27 February 2025 and were signed by:





P Skinner - Director


Peter Skinner & Associates Limited (Registered number: 06344823)

Notes to the Financial Statements
for the Year Ended 31 August 2024

1. STATUTORY INFORMATION

Peter Skinner & Associates Limited 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 as modified by the revaluation of certain assets.

Significant judgements and estimates
The director is of the opinion that there are no estimates or assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Turnover
Turnover represents the fair value of the sales of services completed during the year, excluding discounts, rebates, VAT and other sales taxes or duties.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer & office equipment - 33% on cost and 25% on reducing balance

Investment property
Investment property is initially recognised at cost and subsequently measured at fair value. Any aggregate surplus or deficit arising from changes in fair value is recognised in the income statement. In accordance with FRS 102 investment property is not depreciated.

Financial instruments
The company only has financial assets and liabilities that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at settlement value.

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.

Peter Skinner & Associates Limited (Registered number: 06344823)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2023
and 31 August 2024 10,722
AMORTISATION
At 1 September 2023 8,576
Charge for year 536
At 31 August 2024 9,112
NET BOOK VALUE
At 31 August 2024 1,610
At 31 August 2023 2,146

5. TANGIBLE FIXED ASSETS
Computer
& office
equipment
£   
COST
At 1 September 2023
and 31 August 2024 4,628
DEPRECIATION
At 1 September 2023 4,339
Charge for year 243
At 31 August 2024 4,582
NET BOOK VALUE
At 31 August 2024 46
At 31 August 2023 289

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2023
and 31 August 2024 325,000
NET BOOK VALUE
At 31 August 2024 325,000
At 31 August 2023 325,000

Peter Skinner & Associates Limited (Registered number: 06344823)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

6. INVESTMENT PROPERTY - continued

Fair value at 31 August 2024 is represented by:
£   
Valuation in 2022 88,627
Cost 236,373
325,000

If the investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 236,373 236,373

The investment property was valued on an open market basis on 31 March 2022 by the director .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,876 9,843
Amounts recoverable on contract 23,438 15,144
Prepayments and accrued income 7,558 7,371
32,872 32,358

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 7,329 6,557
Tax 10,350 15,029
VAT 7,406 8,045
Directors' current accounts 2,906 972
Accruals and deferred income 7,969 2,359
35,960 32,962

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank Loans - Amounts repayable
in more than one year but not
more than five years 31,771 30,765
Bank loans - Amounts repayable
in more than 5 years 60,494 68,324
92,265 99,089

A loan of £70,000 was drawn down on 1 December 2015. The loan carries interest at the rate of 0.5% over Lloyds Bank plc's base rate. The loan is repayable in 240 monthly instalments and will be fully repaid by December 2035.

An additional loan of £100,000 was drawn down on 1 December 2015. The loan carries interest at 3.2% and is repayable in 240 monthly instalments. The loan will be fully repayable by December 2035.

Peter Skinner & Associates Limited (Registered number: 06344823)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 99,594 105,646

The company loans are secured under a fixed and floating charge over the company's assets.

11. RESERVES
Undistributab
reserve
£   
At 1 September 2023
and 31 August 2024 66,470

12. RELATED PARTY DISCLOSURES

The company was under the control of Mr P Skinner throughout the year. Mr Skinner is the majority shareholder and, together with his wife, owns 100% of the issued share capital of the company.

During the year dividends totalling £39,740 (2023: £26,000) were paid to Mr Skinner and his wife. The balance due to them from the company as at 31 August 2024 was £2,906 (2023: £972).