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Pearson Ferrier Residential Lettings Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 03143889
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 15,130 25,356
Tangible Assets 5 968 1,282
16,098 26,638
CURRENT ASSETS
Debtors 6 1,078,243 1,057,227
Cash at bank and in hand 286,642 266,937
1,364,885 1,324,164
Creditors: Amounts Falling Due Within One Year 7 (1,186,478 ) (1,063,629 )
NET CURRENT ASSETS (LIABILITIES) 178,407 260,535
TOTAL ASSETS LESS CURRENT LIABILITIES 194,505 287,173
NET ASSETS 194,505 287,173
CAPITAL AND RESERVES
Called up share capital 8 140 140
Profit and Loss Account 194,365 287,033
SHAREHOLDERS' FUNDS 194,505 287,173
Page 1
Page 2
For the year ending 31 March 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 Mitchell Pearson
Director
6 April 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Pearson Ferrier Residential Lettings Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03143889 . The registered office is 435/7 Walmersely Road, Bury, Lancs, BL9 5EU.
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 rendering of services.
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. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life.
2.4. 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:
Fixtures & Fittings 20% reducing balance
Computer Equipment 25% reducing balance
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 year 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.
...CONTINUED
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2.5. Taxation - continued
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 asset reflects 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 or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 14 14
14 14
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2023 78,261
As at 31 March 2024 78,261
Amortisation
As at 1 April 2023 52,905
Provided during the period 10,226
As at 31 March 2024 63,131
Net Book Value
As at 31 March 2024 15,130
As at 1 April 2023 25,356
5. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 April 2023 7,614 35,009 42,623
As at 31 March 2024 7,614 35,009 42,623
...CONTINUED
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Depreciation
As at 1 April 2023 7,467 33,874 41,341
Provided during the period 30 284 314
As at 31 March 2024 7,497 34,158 41,655
Net Book Value
As at 31 March 2024 117 851 968
As at 1 April 2023 147 1,135 1,282
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 90,593 69,577
Prepayments and accrued income 8,332 8,332
Other debtors 979,318 979,318
1,078,243 1,057,227
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 183,928 72,385
Corporation tax 38,799 42,027
Other taxes and social security 5,669 5,149
VAT 32,172 28,769
Other creditors 907,494 899,712
Accruals and deferred income (Current liabilities - creditors < 1 year) 11,371 11,371
Directors' loan accounts 7,045 4,216
1,186,478 1,063,629
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 140 140
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