REGISTERED NUMBER: 08327729 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Pearce It Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Report of the Accountants

7

DIRECTOR:

L Pearce

SECRETARY:

REGISTERED OFFICE:

11 The Glenmore Centre Jessop Court

Waterwells Business Park

Gloucester

United Kingdom

GL2 2AP

REGISTERED NUMBER:

08327729 (England and Wales)

ACCOUNTANTS:

Sysum Howard Duggan Accountants Ltd

Unit 14

Elgar Business Centre

Moseley Road

Worcester

Worcestershire

WR2 6NJ

FIXED ASSETS

Intangible assets

4

15,400

18,700

Tangible assets

5

21,105

14,402

36,505

33,102

CURRENT ASSETS

Stocks

22,443

15,000

Debtors

6

21,921

33,879

Cash at bank

98,785

111,544

143,149

160,423

CREDITORS

Amounts falling due within one year

7

77,682

65,220

NET CURRENT ASSETS

65,467

95,203

TOTAL ASSETS LESS CURRENT LIABILITIES

101,972

128,305

PROVISIONS FOR LIABILITIES

6,936

-

NET ASSETS

95,036

128,305

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

95,035

128,304

95,036

128,305

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 September 2025 and were signed by:

L Pearce - Director

1.	STATUTORY INFORMATION

Pearce It Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 6 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

22,000

AMORTISATION

At 1 January 2024

3,300

Charge for year

3,300

At 31 December 2024

6,600

NET BOOK VALUE

At 31 December 2024

15,400

At 31 December 2023

18,700

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2024

-

22,785

22,785

Additions

12,032

11,895

23,927

Disposals

-

(11,414

)

(11,414

)

At 31 December 2024

12,032

23,266

35,298

DEPRECIATION

At 1 January 2024

-

8,383

8,383

Charge for year

1,468

5,769

7,237

Eliminated on disposal

-

(1,427

)

(1,427

)

At 31 December 2024

1,468

12,725

14,193

NET BOOK VALUE

At 31 December 2024

10,564

10,541

21,105

At 31 December 2023

-

14,402

14,402

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

15,641

29,736

Other debtors

6,280

4,143

21,921

33,879

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

16,951

17,147

Taxation and social security

18,278

18,216

Other creditors

42,453

29,857

77,682

65,220

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 December 2024 set out on page nil and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Sysum Howard Duggan Accountants Ltd

Unit 14

Elgar Business Centre

Moseley Road

Worcester

Worcestershire

WR2 6NJ

Date: .............................................