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REGISTERED NUMBER: 03869807 (England and Wales)




















Unaudited Financial Statements

for the Year Ended 31 December 2024

for

PBC Business Recovery and Insolvency
Limited

PBC Business Recovery and Insolvency
Limited (Registered number: 03869807)






Contents of the Financial Statements
for the year ended 31 December 2024




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 8


PBC Business Recovery and Insolvency
Limited

Company Information
for the year ended 31 December 2024







DIRECTORS: Mr G S Pettit
Mrs P A Pettit
Mr N S Bonser
Mr I Cooke





REGISTERED OFFICE: 9-10 Scirocco Close
Moulton Park
Northampton
Northamptonshire
NN3 6AP





REGISTERED NUMBER: 03869807 (England and Wales)





ACCOUNTANTS: Clifford Roberts
Chartered Accountants
Pacioli House
9 Brookfield
Duncan Close
Northampton
Northamptonshire
NN3 6WL

PBC Business Recovery and Insolvency
Limited (Registered number: 03869807)

Balance Sheet
31 December 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 7,317 2,221
7,317 2,221

CURRENT ASSETS
Debtors 6 179,099 189,437
Cash at bank and in hand 190,395 149,548
369,494 338,985
CREDITORS
Amounts falling due within one year 7 246,177 209,767
NET CURRENT ASSETS 123,317 129,218
TOTAL ASSETS LESS CURRENT
LIABILITIES

130,634

131,439

CREDITORS
Amounts falling due after more than one
year

8

-

(43,945

)

PROVISIONS FOR LIABILITIES (1,829 ) (555 )
NET ASSETS 128,805 86,939

CAPITAL AND RESERVES
Called up share capital 11 102 102
Share premium 998 998
Retained earnings 127,705 85,839
SHAREHOLDERS' FUNDS 128,805 86,939

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

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

The directors acknowledge their 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.

PBC Business Recovery and Insolvency
Limited (Registered number: 03869807)

Balance Sheet - continued
31 December 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 April 2025 and were signed on its behalf by:





Mr G S Pettit - Director


PBC Business Recovery and Insolvency
Limited (Registered number: 03869807)

Notes to the Financial Statements
for the year ended 31 December 2024

1. STATUTORY INFORMATION

PBC Business Recovery and Insolvency Limited is a private company, limited by shares, registered in England and Wales. The company's registered number, registered office and business 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 applicable United Kingdom accounting standards, including Financial Reporting Standard 102 section 1A - "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102 section 1A") and with the Companies Act 2006. The financial statements have been prepared on the historical cost basis.

The financial statements are presented in Sterling (£) and cover the period to 31st December each year.

Going Concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue is recognised according to the substance of the obligation under the contract. Where the substance of a transaction is that the contractual obligations have been performed gradually over time, revenue is recognised as contract progresses to reflect the partial performance of its contractual obligations. Where the substance of a contract is that a right to consideration does not arise until the occurrence of a critical event, revenue is not recognised until that event occurs.

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.
Office equipment - 25% on reducing balance
Fixtures and fittings - 20% on reducing balance
Computer equipment - 50% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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..


PBC Business Recovery and Insolvency
Limited (Registered number: 03869807)

Notes to the Financial Statements - continued
for the year ended 31 December 2024

2. ACCOUNTING POLICIES - continued
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.

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.

Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method unless the effect of discounting would be immaterial, in which case they are stated at cost.

Interest bearing borrowings
Interest bearing borrowings are recognised initially at fair value less attributable transaction costs. Subsequent to initial recognition, interest bearing borrowings are stated at amortised cost with any difference between the amount initially recognised and redemption value being recognised in the statement of comprehensive income over the period of the borrowings, together with any interest and fees payable, using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 12 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2024
and 31 December 2024 200,000
AMORTISATION
At 1 January 2024
and 31 December 2024 200,000
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 -

PBC Business Recovery and Insolvency
Limited (Registered number: 03869807)

Notes to the Financial Statements - continued
for the year ended 31 December 2024

4. INTANGIBLE FIXED ASSETS - continued

Intangible assets relates to goodwill in connection with the acquisition of a business acquired in 2003, and is now fully amortised.

5. TANGIBLE FIXED ASSETS
Fixtures
Office and Computer
equipment fittings equipment Totals
£    £    £    £   
COST
At 1 January 2024 32,036 26,811 48,335 107,182
Additions 6,105 - - 6,105
At 31 December 2024 38,141 26,811 48,335 113,287
DEPRECIATION
At 1 January 2024 31,564 25,170 48,227 104,961
Charge for year 627 328 54 1,009
At 31 December 2024 32,191 25,498 48,281 105,970
NET BOOK VALUE
At 31 December 2024 5,950 1,313 54 7,317
At 31 December 2023 472 1,641 108 2,221

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,199 2,800
Amounts recoverable on contract 151,924 158,878
Other debtors 25,976 27,759
179,099 189,437

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 43,945 36,527
Trade creditors 4,338 12,688
Taxation and social security 111,711 101,164
Other creditors 86,183 59,388
246,177 209,767

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 43,945

PBC Business Recovery and Insolvency
Limited (Registered number: 03869807)

Notes to the Financial Statements - continued
for the year ended 31 December 2024

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 31,248 36,836
Between one and five years 101,090 125,088
In more than five years - 7,250
132,338 169,174

10. FINANCIAL RISK MANAGEMENT

The company has some exposure to credit, liquidity and cash flow interest rate risks. These risks are limited by the company's financial management policies and practices described below.

Foreign currency risk
The company has no exposure to foreign currency risks as all of the company's sales and purchases are denominated in sterling.

Credit risk
With insolvency, credit risk is limited as the Insolvency Practice is in control of the bank account, but managing WIP recoverability is key as it is often dependent upon a critical event.

Liquidity risk
The directors have ultimate responsibility for liquidity risk management in maintaining adequate reserves and banking facilities. This is managed through careful planning.

Market risk
There is a market risk associated with the fluctuation in demand for the services provided. Most of this is mitigated by monitoring the markets, but ultimately this is outside the control of the company.

The company holds no derivative financial instruments at the year end.

At the year end the company held one charge with fixed and floating charges over all property or undertaking of the company in favour of Lloyds Bank Plc.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid
Number: Class: Nominal 2024 2023
Value: £ £

98 Ordinary Shares £1 98 98
2 Ordinary A Shares £1 2 2
1 Ordinary B Shares £1 1 1
1 Ordinary C Shares £1 1 1
102 102

During the prior year one Ordinary B share and one Ordinary C share was issued at a premium to the nominal value, creating the share premium account.

PBC Business Recovery and Insolvency
Limited (Registered number: 03869807)

Notes to the Financial Statements - continued
for the year ended 31 December 2024

12. PARENT COMPANY

PBC (Holdings) Limited is the parent company of PBC Business Recovery and Insolvency Limited. PBC (Holdings) Limited is a private company incorporated in England. The company's registered office address is Pacioli House, 9 Brookfield, Duncan Close,Moulton Park, Northampton, NN3 6WL.