Company Registration No. 12168491 (England and Wales)
PIERCE & PIERCE INVESTMENTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
PAGES FOR FILING WITH REGISTRAR
PIERCE & PIERCE INVESTMENTS LIMITED
CONTENTS
Page
Statement of comprehensive income
1
Balance sheet
2
Statement of changes in equity
3
Notes to the financial statements
4 - 5
PIERCE & PIERCE INVESTMENTS LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 AUGUST 2024
- 1 -
2024
2023
£
£
Loss for the year
(22,577)
(10,928)
Other comprehensive income
Revaluation of tangible fixed assets
65,000
Total comprehensive income for the year
42,423
(10,928)
PIERCE & PIERCE INVESTMENTS LIMITED
BALANCE SHEET
AS AT
31 AUGUST 2024
31 August 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
225,000
160,000
Current assets
Debtors
5
700
Cash at bank and in hand
8,262
988
8,962
988
Creditors: amounts falling due within one year
6
(225,205)
(180,134)
Net current liabilities
(216,243)
(179,146)
Total assets less current liabilities
8,757
(19,146)
Capital and reserves
Called up share capital
8
100
100
Revaluation reserve
65,000
Profit and loss reserves
(56,343)
(19,246)
Total equity
8,757
(19,146)
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 22 April 2025
Mr Nigel Pierce
Director
Company Registration No. 12168491
PIERCE & PIERCE INVESTMENTS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 AUGUST 2024
- 3 -
Share capital
Revaluation reserve
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 September 2022
100
(8,318)
(8,218)
Year ended 31 August 2023:
Loss and total comprehensive income for the year
-
-
(10,928)
(10,928)
Balance at 31 August 2023
100
(19,246)
(19,146)
Year ended 31 August 2024:
Loss for the year
-
-
(22,577)
(22,577)
Other comprehensive income:
Revaluation of tangible fixed assets
-
65,000
-
65,000
Total comprehensive income for the year
65,000
(22,577)
42,423
Dividends
-
-
(14,520)
(14,520)
Balance at 31 August 2024
100
65,000
(56,343)
8,757
PIERCE & PIERCE INVESTMENTS LIMITED
STATEMENT OF CHANGES IN EQUITY (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 4 -
1
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
1
3
Director's remuneration
2024
2023
£
£
Remuneration for qualifying services
12,570
12,570
4
Tangible fixed assets
Freehold land and buildings
£
Cost
At 1 September 2023
160,000
Revaluation
65,000
At 31 August 2024
225,000
Depreciation and impairment
At 1 September 2023 and 31 August 2024
Carrying amount
At 31 August 2024
225,000
At 31 August 2023
160,000
PIERCE & PIERCE INVESTMENTS LIMITED
STATEMENT OF CHANGES IN EQUITY (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 5 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
700
6
Creditors: amounts falling due within one year
2024
2023
Notes
£
£
Bank loans
7
169,993
126,701
Taxation and social security
1,059
580
Other creditors
53,343
51,989
Accruals and deferred income
810
864
225,205
180,134
7
Loans and overdrafts
2024
2023
£
£
Bank loans
169,993
126,701
Payable within one year
169,993
126,701
The long-term loans are secured by fixed charges over [XXX]
[An entity shall disclose information that enables users of its financial statements to evaluate the significance of financial instruments for its financial position and performance. For example, for long term debt such information would normally include the terms and conditions of the debt instrument (such as interest rate, maturity, repayment schedule, and restrictions that the debt instrument imposes on the entity.]
8
Share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
100 of £1 each
100
100
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