Company Registration No. 08300460 (England and Wales)
Petersfield Service Centre Limited
Unaudited accounts
for the year ended 31 March 2025
Petersfield Service Centre Limited
Unaudited accounts
Contents
Petersfield Service Centre Limited
Company Information
for the year ended 31 March 2025
Directors
Mr D E Gearey
Mr D J Marsh
Mr M W Gearey
Company Number
08300460 (England and Wales)
Registered Office
School Master's House
College Street
Petersfield
GU31 4AG
England
Accountants
Newnham & Son Ltd
School Master's House
39 College Street
Petersfield
Hampshire
GU31 4AG
Petersfield Service Centre Limited
Statement of financial position
as at 31 March 2025
Tangible assets
74,062
76,135
Cash at bank and in hand
140,049
71,742
Creditors: amounts falling due within one year
(169,370)
(86,958)
Net current assets
43,981
8,336
Total assets less current liabilities
118,043
84,471
Creditors: amounts falling due after more than one year
(15,845)
(36,922)
Provisions for liabilities
Deferred tax
(15,984)
(16,341)
Called up share capital
75
75
Capital redemption reserve
25
25
Profit and loss account
86,114
31,108
Shareholders' funds
86,214
31,208
For the year ending 31 March 2025 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 18 September 2025 and were signed on its behalf by
Mr M W Gearey
Director
Company Registration No. 08300460
Petersfield Service Centre Limited
Notes to the Accounts
for the year ended 31 March 2025
Petersfield Service Centre Limited is a private company, limited by shares, registered in England and Wales, registration number 08300460. The registered office is School Master's House, College Street, Petersfield, GU31 4AG, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
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.
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.
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:
Plant & machinery
10% reducing balance
Motor vehicles
25% reducing balance
Fixtures & fittings
25% reducing balance
Computer equipment
over 3 years
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.
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.
Petersfield Service Centre Limited
Notes to the Accounts
for the year ended 31 March 2025
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.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
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Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 April 2024
73,522
44,153
8,223
2,206
128,104
Additions
9,748
-
-
-
9,748
At 31 March 2025
83,270
44,153
8,223
2,206
137,852
At 1 April 2024
20,485
21,834
7,444
2,206
51,969
Charge for the year
6,171
5,580
70
-
11,821
At 31 March 2025
26,656
27,414
7,514
2,206
63,790
At 31 March 2025
56,614
16,739
709
-
74,062
At 31 March 2024
53,037
22,319
779
-
76,135
Amounts falling due within one year
Accrued income and prepayments
12,966
9,449
Petersfield Service Centre Limited
Notes to the Accounts
for the year ended 31 March 2025
6
Creditors: amounts falling due within one year
2025
2024
Bank loans and overdrafts
10,000
10,000
Obligations under finance leases and hire purchase contracts
9,333
5,233
Trade creditors
63,370
38,017
Taxes and social security
52,590
13,749
Other creditors
5,603
5,584
Loans from directors
(19)
(442)
7
Creditors: amounts falling due after more than one year
2025
2024
Obligations under finance leases and hire purchase contracts
13,345
24,422
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Average number of employees
During the year the average number of employees was 6 (2024: 6).