Company registration number 08225477 (England and Wales)
PULSE FIXINGS 2000 LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
PULSE FIXINGS 2000 LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
PULSE FIXINGS 2000 LTD (REGISTERED NUMBER: 08225477)
BALANCE SHEET
AS AT
30 SEPTEMBER 2024
30 September 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
84,370
32,302
Current assets
Stocks
203,678
210,909
Debtors
5
596,570
752,102
Investments
6
11,300
11,300
Cash at bank and in hand
104,202
129,986
915,750
1,104,297
Creditors: amounts falling due within one year
7
(434,032)
(636,013)
Net current assets
481,718
468,284
Total assets less current liabilities
566,088
500,586
Creditors: amounts falling due after more than one year
8
(69,255)
Provisions for liabilities
(11,423)
(2,108)
Net assets
485,410
498,478
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
485,310
498,378
Total equity
485,410
498,478
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 30 September 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 members have 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.
PULSE FIXINGS 2000 LTD (REGISTERED NUMBER: 08225477)
BALANCE SHEET (CONTINUED)
AS AT
30 SEPTEMBER 2024
30 September 2024
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 9 May 2025
Mr A Males
Director
PULSE FIXINGS 2000 LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 3 -
1
Accounting policies
Company information
Pulse Fixings 2000 Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 19/21 Swan Street, West Malling, Kent, ME19 6JU.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
Atruet the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.4
Intangible fixed assets other than goodwill
Intangible assets are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Software
25% on cost
1.5
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and machinery
25% on reducing balance
Fixtures, fittings & equipment
25% on reducing balance
Computer equipment
33% on straight line
Motor vehicles
25% on reducing balance
PULSE FIXINGS 2000 LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 4 -
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.6
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
1.8
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.9
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
16
16
PULSE FIXINGS 2000 LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 5 -
3
Intangible fixed assets
Software
£
Cost
At 1 October 2023 and 30 September 2024
12,876
Amortisation and impairment
At 1 October 2023 and 30 September 2024
12,876
Carrying amount
At 30 September 2024
At 30 September 2023
4
Tangible fixed assets
Plant and machinery
Fixtures, fittings & equipment
Computer equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 October 2023
10,500
22,238
10,622
15,025
58,385
Additions
1,560
67,449
69,009
At 30 September 2024
10,500
23,798
10,622
82,474
127,394
Depreciation and impairment
At 1 October 2023
1,539
12,670
10,622
1,252
26,083
Depreciation charged in the year
990
1,435
14,516
16,941
At 30 September 2024
2,529
14,105
10,622
15,768
43,024
Carrying amount
At 30 September 2024
7,971
9,693
66,706
84,370
At 30 September 2023
8,961
9,568
13,773
32,302
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
592,165
750,807
Other debtors
4,405
1,295
596,570
752,102
PULSE FIXINGS 2000 LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 6 -
6
Current asset investments
2024
2023
£
£
Other investments
11,300
11,300
7
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
45
Trade creditors
371,742
551,787
Taxation and social security
38,989
74,587
Other creditors
23,256
9,639
434,032
636,013
8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
69,255
9
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2024
2023
£
£
23,997
10
Director's transactions
As at the balance sheet date, there was an overdrawn directors loan account balance of £4,000 (2023: £nil), this balance is included within other debtors.