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COMPANY REGISTRATION NUMBER: NI603504
3 PT Ltd
Filleted Unaudited Financial Statements
30 June 2024
3 PT Ltd
Statement of Financial Position
30 June 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
6
23,688
27,585
Current assets
Debtors
7
5,862
13,126
Cash at bank and in hand
3,238
11,285
-------
--------
9,100
24,411
Creditors: amounts falling due within one year
8
8,264
9,605
-------
--------
Net current assets
836
14,806
--------
--------
Total assets less current liabilities
24,524
42,391
Creditors: amounts falling due after more than one year
9
2,309
3,989
Provisions
Taxation including deferred tax
10
207
207
--------
--------
Net assets
22,008
38,195
--------
--------
Capital and reserves
Called up share capital
12
3
3
Profit and loss account
13
22,005
38,192
--------
--------
Shareholders funds
22,008
38,195
--------
--------
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 income and retained earnings has not been delivered.
For the year ending 30 June 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 his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
3 PT Ltd
Statement of Financial Position (continued)
30 June 2024
These financial statements were approved by the board of directors and authorised for issue on 5 March 2025 , and are signed on behalf of the board by:
Mr A D Gausden
Director
Company registration number: NI603504
3 PT Ltd
Notes to the Financial Statements
Year ended 30 June 2024
1. General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 223 Whitewell Road, Newtownabbey, BT36 7NW, Northern Ireland.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Tangible assets
Tangible assets are initially recorded at cost, and 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 equity, 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 equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity 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:
Fixtures and Fittings
-
20% straight line
Motor Vehicles
-
15% straight line
Equipment
-
33% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Dividends
2024
2023
£
£
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year )
15,000
2,000
--------
-------
6. Tangible assets
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 July 2023
49,119
3,499
38,807
91,425
Additions
708
3,557
4,265
--------
-------
--------
--------
At 30 June 2024
49,827
3,499
42,364
95,690
--------
-------
--------
--------
Depreciation
At 1 July 2023
45,546
962
17,332
63,840
Charge for the year
1,675
263
6,224
8,162
--------
-------
--------
--------
At 30 June 2024
47,221
1,225
23,556
72,002
--------
-------
--------
--------
Carrying amount
At 30 June 2024
2,606
2,274
18,808
23,688
--------
-------
--------
--------
At 30 June 2023
3,573
2,537
21,475
27,585
--------
-------
--------
--------
7. Debtors
2024
2023
£
£
Other debtors
5,862
13,126
-------
--------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
2,130
2,380
Trade creditors
1,502
1,951
Social security and other taxes
3,049
2,774
Other creditors
1,583
2,500
-------
-------
8,264
9,605
-------
-------
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
2,309
3,989
-------
-------
10. Provisions
Deferred tax (note 11)
£
At 1 July 2023 and 30 June 2024
207
----
11. Deferred tax
The deferred tax included in the statement of financial position is as follows:
2024
2023
£
£
Included in provisions (note 10)
207
207
----
----
The deferred tax account consists of the tax effect of timing differences in respect of:
2024
2023
£
£
Accelerated capital allowances
207
207
----
----
12. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
3
3
3
3
----
----
----
----
13. Reserves
Profit and loss account - This reserve records retained earnings and accumulated losses.
14. Director's advances, credits and guarantees
15. Related party transactions
The company was under the control of Mr Gausden throughout the current and previous year. Mr Gausden is the managing director and sole shareholder. No transactions with related parties were undertaken such as are required to be disclosed under FRS 102.