Company Registration No. 12098805 (England and Wales)
PETER DIY LTD
Amended Unaudited accounts
for the year ended 31 July 2024
PETER DIY LTD
Amended Unaudited accounts
Contents
PETER DIY LTD
Company Information
for the year ended 31 July 2024
Directors
Piotr Stefan Lis
Magdalena Lis
Company Number
12098805 (England and Wales)
Registered Office
Bollin House
Bollin Walk
Wilmslow
SK9 1DP
United Kingdom
Accountants
CloudAccountant.co.uk
Bollin House
Bollin Link
Wilmslow
Cheshire
SK9 1DP
PETER DIY LTD
Statement of financial position
as at 31 July 2024
Tangible assets
3,094
4,125
Cash at bank and in hand
224,437
249,704
Creditors: amounts falling due within one year
(37,337)
(32,907)
Net current assets
364,897
289,609
Total assets less current liabilities
367,991
293,734
Provisions for liabilities
Net assets
366,351
292,868
Called up share capital
2
2
Profit and loss account
366,349
292,866
Shareholders' funds
366,351
292,868
For the year ending 31 July 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 27 April 2025 and were signed on its behalf by
Piotr Stefan Lis
Director
Company Registration No. 12098805
PETER DIY LTD
Notes to the Accounts
for the year ended 31 July 2024
PETER DIY LTD is a private company, limited by shares, registered in England and Wales, registration number 12098805. The registered office is Bollin House, Bollin Walk, Wilmslow, SK9 1DP, United Kingdom.
2
Compliance with accounting standards
These financial statements are the first prepared in accordance with the provisions of FRS 102 Section 1A – Small Entities, following the transition from FRS 105 – The Financial Reporting Standard applicable to the Micro-entities Regime.
The date of transition was 1 August 2023.
As a result of this transition, certain comparative amounts have been restated, and a prior year adjustment has been made to reflect the recognition of deferred tax liabilities in accordance with FRS 102. A reconciliation of the impact of the transition is provided in the notes to the financial statements.
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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
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:
Motor vehicles
25% reducing balance
Computer equipment
3 years straight line
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
PETER DIY LTD
Notes to the Accounts
for the year ended 31 July 2024
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Tangible fixed assets
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 August 2023
5,500
183
5,683
At 31 July 2024
5,500
-
5,500
At 1 August 2023
1,375
183
1,558
Charge for the year
1,031
-
1,031
At 31 July 2024
2,406
-
2,406
At 31 July 2024
3,094
-
3,094
At 31 July 2023
4,125
-
4,125
Amounts falling due within one year
Trade debtors
8,941
19,079
Accrued income and prepayments
2,888
206
Other debtors
25,821
10,274
Amounts falling due after more than one year
6
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
25,236
21,226
Loans from directors
1,123
592
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2
2
PETER DIY LTD
Notes to the Accounts
for the year ended 31 July 2024
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Non-interest bearing advances made to the company by the director (repayable on demand)
(592)
(220)
-
(812)
Non-interest bearing advances made to the company by the director (repayable on demand)
-
(312)
-
(312)
9
Average number of employees
During the year the average number of employees was 3 (2023: 3).
10
Reconciliations on adoption of FRS 102
Reconciliation of equity
1 August 2022
31 July 2023
Capital and reserves (as previously stated)
-
293,734
Deferred tax provision
-
(866)
Capital and reserves (as restated)
-
292,868
Reconciliation of profit or loss for the year
31 July 2023
Profit for the year (as previously stated)
83,668
Deferred tax provision
(866)
Profit for the year (as restated)
82,802