P.f.i. (Holdings) Ltd. - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03454673 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2021

for

P.f.i. (Holdings) Ltd.

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTOR:

Mr P Begley

SECRETARY:

Mrs C Begley

REGISTERED OFFICE:

Unit 5, Avenue Business Park

Brockley Road

Elsworth

Cambridgeshire

CB23 4EY

REGISTERED NUMBER:

03454673 (England and Wales)

ACCOUNTANTS:

Wheeler Accountancy

Unit 5, Avenue Business Park

Brockley Road

Elsworth

Cambridgeshire

CB23 4EY

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

999

64,992

999

64,992

CURRENT ASSETS

Stocks

19,995

27,336

Debtors

6

1,399

3,103

Cash at bank

19

19

21,413

30,458

CREDITORS

Amounts falling due within one year

7

81,474

131,638

NET CURRENT LIABILITIES

(60,061

)

(101,180

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(59,062

)

(36,188

)

CAPITAL AND RESERVES

Called up share capital

8

20,002

20,002

Retained earnings

(79,064

)

(56,190

)

SHAREHOLDERS' FUNDS

(59,062

)

(36,188

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 29 September 2022 and were signed by:

Mr P Begley - Director

1.	STATUTORY INFORMATION

P.f.i. (Holdings) Ltd. 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

The company ceased trading on 31 December 2021.

The Covid-19 pandemic and ongoing uncertainties in Eastern Europe have led to revenue streams not . It is returning. Therefore it has not been appropriate to prepare these accounts on a going concern basis.

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 purchased in 2009 has been fully amortised within the accounts.

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.

Motor vehicles

-

20% on reducing balance

Computer equipment

-

33% on cost

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - NIL).

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2021

and 31 December 2021

33,515

AMORTISATION

At 1 January 2021

and 31 December 2021

33,515

NET BOOK VALUE

At 31 December 2021

-

At 31 December 2020

-

5.	TANGIBLE FIXED ASSETS

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 January 2021

80,562

24,175

104,737

Additions

-

1,499

1,499

Disposals

(80,562

)

(24,175

)

(104,737

)

At 31 December 2021

-

1,499

1,499

DEPRECIATION

At 1 January 2021

19,136

19,718

38,854

Charge for year

-

1,391

1,391

Eliminated on disposal

(19,136

)

(20,609

)

(39,745

)

At 31 December 2021

-

500

500

NET BOOK VALUE

At 31 December 2021

-

999

999

At 31 December 2020

61,426

4,457

65,883

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

31.12.20

£

£

Other debtors

1,399

3,103

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

31.12.20

£

£

Bank loans and overdrafts

24,567

23,521

Trade creditors

1

1

Taxation and social security

5,301

5,301

Other creditors

51,605

102,815

81,474

131,638

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.21

31.12.20

value:

£

£

20,002

Ordinary

£1

20,002

20,002