Company Registration No. 06911621 (England and Wales)
Poole Bay Warehousing Limited
Unaudited accounts
for the year ended 31 August 2024
Poole Bay Warehousing Limited
Unaudited accounts
Contents
Poole Bay Warehousing Limited
Company Information
for the year ended 31 August 2024
Directors
R J Mcgowan
A J Squires
Company Number
06911621 (England and Wales)
Registered Office
79 Condor Close
Woolsbridge Industrial Estate
Three Legged Cross
Dorset
BH21 6SU
Accountants
Peats
Alum House
Discovery Court
551-553 Wallisdown Road
Poole
BH12 5AG
Poole Bay Warehousing Limited
Statement of financial position
as at 31 August 2024
Tangible assets
508,559
590,447
Cash at bank and in hand
39,251
155,007
Creditors: amounts falling due within one year
(581,495)
(623,567)
Net current liabilities
(205,344)
(44,348)
Total assets less current liabilities
303,215
546,099
Creditors: amounts falling due after more than one year
(92,620)
(218,005)
Net assets
210,595
328,094
Called up share capital
1,000
1,000
Profit and loss account
209,595
327,094
Shareholders' funds
210,595
328,094
For the year ending 31 August 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 14 April 2024 and were signed on its behalf by
A J Squires
Director
Company Registration No. 06911621
Poole Bay Warehousing Limited
Notes to the Accounts
for the year ended 31 August 2024
Poole Bay Warehousing Limited is a private company, limited by shares, registered in England and Wales, registration number 06911621. The registered office is 79 Condor Close, Woolsbridge Industrial Estate, Three Legged Cross, Dorset, BH21 6SU.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
The company operates a defined contribution scheme for the benefit of its employees under which the company pays fixed contributions to a separate entity. The assets of the plan are held separately from the company in independently
administered funds. Contributions payable are recognised in the profit and loss account when they fall due.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Leasehold land and buildings - straight line over the lease term.
Plant and machinery - 6% and 20% straight line.
Furniture, fittings and equipment - 25% straight line.
Where the company takes substantially all the risks and rewards of ownership of an asset the lease is treated as a finance lease.
Leases which do not transfer substantially all the risks and rewards of ownership to the company are treated as operating leases.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Poole Bay Warehousing Limited
Notes to the Accounts
for the year ended 31 August 2024
4
Tangible fixed assets
Land & buildings
Plant & machinery
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 September 2023
38,728
733,446
46,250
818,424
At 31 August 2024
38,728
733,446
49,858
822,032
At 1 September 2023
2,367
197,431
28,179
227,977
Charge for the year
2,719
78,114
4,663
85,496
At 31 August 2024
5,086
275,545
32,842
313,473
At 31 August 2024
33,642
457,901
17,016
508,559
At 31 August 2023
36,361
536,015
18,071
590,447
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Plant & machinery
146,984
183,730
Amounts falling due within one year
Trade debtors
201,404
191,195
Accrued income and prepayments
51,839
133,909
Other debtors
83,657
99,108
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
6,240
6,307
Obligations under finance leases and hire purchase contracts
41,123
45,825
Trade creditors
283,741
365,163
Amounts owed to group undertakings and other participating interests
160,355
116,155
Taxes and social security
79,576
59,896
Other creditors
2,424
1,631
Loans from directors
1,345
-
Amounts due to Lloyds Bank Commercial Finance Limited are secured by fixed and floating charges over the assets of the company.
Poole Bay Warehousing Limited
Notes to the Accounts
for the year ended 31 August 2024
7
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
65,767
104,098
Loans from directors
-
81,499
Allotted, called up and fully paid:
1,000 Ordinary shares of £1 each
1,000
1,000
9
Transactions with related parties
The company has an interest free current account with its associated company Three Legged Transport Limited. At the balance sheet date the amount outstanding was £160,355 owed to (2023 - £116,155 owed to).
10
Average number of employees
During the year the average number of employees was 18 (2023: 20).