Registered number
11035883
PNC Trade Ltd
Filleted Accounts
31 October 2024
PNC Trade Ltd
Registered number: 11035883
Balance Sheet
as at 31 October 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 106,776 -
Current assets
Stocks - 7,170
Debtors 4 231,268 1,347,831
Cash at bank and in hand 1,923,170 850,378
2,154,438 2,205,379
Creditors: amounts falling due within one year 5 (189,369) (283,621)
Net current assets 1,965,069 1,921,758
Net assets 2,071,845 1,921,758
Capital and reserves
Called up share capital 100 100
Profit and loss account 2,071,745 1,921,658
Shareholder's funds 2,071,845 1,921,758
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her 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 Shim
Director
Approved by the board on 6 June 2025
PNC Trade 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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
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.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Motor vehicle
£
Cost
Additions 133,470
At 31 October 2024 133,470
Depreciation
Charge for the year 26,694
At 31 October 2024 26,694
Net book value
At 31 October 2024 106,776
4 Debtors 2024 2023
£ £
Trade debtors 231,064 1,347,831
Other debtors 204 -
231,268 1,347,831
5 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 50,173 131,266
Other creditors 139,196 152,355
189,369 283,621
6 Other information
PNC Trade Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Suite 41, Chessington Business Centre
37 Cox Lane
Chessington
Surrey
KT9 1SD
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