REGISTERED NUMBER: |
Pearce&Stone Limited |
Unaudited Financial Statements for the Year Ended 31st May 2024 |
REGISTERED NUMBER: |
Pearce&Stone Limited |
Unaudited Financial Statements for the Year Ended 31st May 2024 |
Pearce&Stone Limited (Registered number: 11376238) |
Contents of the Financial Statements |
for the Year Ended 31st May 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Pearce&Stone Limited |
Company Information |
for the Year Ended 31st May 2024 |
Directors: |
Registered office: |
Registered number: |
Accountants: |
7 Neptune Court |
Vanguard Way |
Cardiff |
CF24 5PJ |
Pearce&Stone Limited (Registered number: 11376238) |
Balance Sheet |
31st May 2024 |
2024 | 2023 |
Notes | £ | £ |
Fixed assets |
Tangible assets | 4 |
Investment property | 5 |
Current assets |
Debtors | 6 |
Cash at bank |
Creditors |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
Net current liabilities | ( |
) | ( |
) |
Total assets less current liabilities |
Capital and reserves |
Called up share capital |
Retained earnings |
Shareholders' funds |
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. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Pearce&Stone Limited (Registered number: 11376238) |
Notes to the Financial Statements |
for the Year Ended 31st May 2024 |
1. | Statutory information |
Pearce&Stone Limited is a |
2. | Accounting policies |
Basis of preparing the financial statements |
Turnover |
Turnover comprises rental income which is credited to the income statement in the period in which the benefit is consumed by the tenants in occupancy of the property at that time. |
Tangible fixed assets |
Fixture and Fittings - 20% Straight Line |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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. |
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. |
3. | Employees and directors |
The average number of employees during the year was |
Pearce&Stone Limited (Registered number: 11376238) |
Notes to the Financial Statements - continued |
for the Year Ended 31st May 2024 |
4. | Tangible fixed assets |
Fixtures |
and |
fittings |
£ |
Cost |
At 1st June 2023 |
and 31st May 2024 |
Depreciation |
At 1st June 2023 |
Charge for year |
At 31st May 2024 |
Net book value |
At 31st May 2024 |
At 31st May 2023 |
5. | Investment property |
Total |
£ |
Fair value |
At 1st June 2023 |
Revaluations | 105,000 |
At 31st May 2024 |
Net book value |
At 31st May 2024 |
At 31st May 2023 |
Fair value at 31st May 2024 is represented by: |
£ |
Valuation in 2024 | 105,000 |
Cost | 300,000 |
405,000 |
6. | Debtors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Prepayments and accrued income |
7. | Creditors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Tax |
Directors' loan accounts | 294,797 | 293,967 |
Accrued expenses |
Pearce&Stone Limited (Registered number: 11376238) |
Notes to the Financial Statements - continued |
for the Year Ended 31st May 2024 |
8. | Directors' advances, credits and guarantees |
Included within creditors amounts falling due within one year is an amount of £294,797 (2023: £293,967) due to the directors. The amount is interest free and repayable on demand. |