Registered number
07796878
Podington Commercials Ltd
Filleted Accounts
31 October 2024
Podington Commercials Ltd
Registered number: 07796878
Balance Sheet
as at 31 October 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 7,893 8,931
Current assets
Stocks 4,000 4,000
Debtors 4 88,026 93,174
Cash at bank and in hand 35,886 35,391
127,912 132,565
Creditors: amounts falling due within one year 5 (56,409) (63,216)
Net current assets 71,503 69,349
Net assets 79,396 78,280
Capital and reserves
Called up share capital 2 2
Profit and loss account 79,394 78,278
Shareholders' funds 79,396 78,280
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
K Murphy
Director
Approved by the board on 25 March 2025
Podington Commercials Ltd
Notes to the Accounts
for the year ended 31 October 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 15% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 November 2023 33,143
Additions 354
At 31 October 2024 33,497
Depreciation
At 1 November 2023 24,212
Charge for the year 1,392
At 31 October 2024 25,604
Net book value
At 31 October 2024 7,893
At 31 October 2023 8,931
4 Debtors 2024 2023
£ £
Trade debtors 82,114 87,262
Other debtors 5,912 5,912
88,026 93,174
5 Creditors: amounts falling due within one year 2024 2023
£ £
Directors' account 91 986
Trade creditors 31,869 39,673
Taxation and social security costs 19,335 17,578
Other creditors 5,114 4,979
56,409 63,216
6 Other information
Podington Commercials Ltd is a private company limited by shares and incorporated in England. Its registered office is:
1B The Old Sawmill
Airfield Road
Podington
Northants
NN29 7XA
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