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Registered number: 02770905
Production Pattern (Bristol) Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
CGH Accountants
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 02770905
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 153,340 161,635
153,340 161,635
CURRENT ASSETS
Stocks 5 79,143 80,759
Debtors 6 225,325 346,570
Cash at bank and in hand 534,595 303,480
839,063 730,809
Creditors: Amounts Falling Due Within One Year 7 (346,769 ) (283,908 )
NET CURRENT ASSETS (LIABILITIES) 492,294 446,901
TOTAL ASSETS LESS CURRENT LIABILITIES 645,634 608,536
Creditors: Amounts Falling Due After More Than One Year 8 - (4,143 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (25,037 ) (29,763 )
NET ASSETS 620,597 574,630
CAPITAL AND RESERVES
Called up share capital 9 50,000 50,000
Profit and Loss Account 570,597 524,630
SHAREHOLDERS' FUNDS 620,597 574,630
Page 1
Page 2
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr David Megilley
Director
21/03/2025
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Production Pattern (Bristol) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02770905 . The registered office is Unit 8 Cala Trading Estate, Ashtonvale Road, Bristol, BS3 2HA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 2% Reducing Balance
Plant & Machinery 15% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures & Fittings 20% Reducing Balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 15 (2023: 14)
15 14
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 January 2024 5,000 808,761 12,790 13,930 840,481
Additions 10,760 6,504 - - 17,264
As at 31 December 2024 15,760 815,265 12,790 13,930 857,745
Depreciation
As at 1 January 2024 100 660,043 5,596 13,107 678,846
Provided during the period 313 23,283 1,799 164 25,559
As at 31 December 2024 413 683,326 7,395 13,271 704,405
Net Book Value
As at 31 December 2024 15,347 131,939 5,395 659 153,340
As at 1 January 2024 4,900 148,718 7,194 823 161,635
5. Stocks
2024 2023
£ £
Stock 79,143 80,759
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 200,254 223,536
Prepayments and accrued income 25,071 27,282
Amounts owed by group undertakings - 95,752
225,325 346,570
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 71,724 33,938
Corporation tax 59,953 -
Other taxes and social security 35,908 34,202
VAT 36,194 57,552
Net wages 38,564 12,468
Other creditors 4,183 4,697
Accruals and deferred income 100,243 141,051
346,769 283,908
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Page 5
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other creditors - 4,143
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 50,000 50,000
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