Prices Paving and Tile Limited 30/06/2022 iXBRL
Prices Paving and Tile Limited 30/06/2022 iXBRL
Company registration number:
05103998
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Directors and other information
Director |
|
|
Company number |
|
|
Registered office |
|
|
|
||
|
||
|
||
|
||
Business address |
|
|
|
||
|
||
|
||
Accountants |
|
|
Queensgate House | ||
23 North Park Road | ||
Harrogate | ||
North Yorkshire | ||
HG1 5PD | ||
Statement of financial position
30 June 2022
2022 | 2021 | ||||||||
Note | £ | £ | £ | £ | |||||
Fixed assets | |||||||||
Intangible assets | 5 |
|
|
||||||
Tangible assets | 6 |
|
|
||||||
_______ | _______ | ||||||||
|
|
||||||||
Current assets | |||||||||
Stocks |
|
|
|||||||
Debtors | 7 |
|
|
||||||
Cash at bank and in hand |
|
|
|||||||
_______ | _______ | ||||||||
|
|
||||||||
Creditors: amounts falling due | |||||||||
within one year | 8 |
(
|
(
|
||||||
_______ | _______ | ||||||||
Net current assets |
|
|
|||||||
_______ | _______ | ||||||||
Total assets less current liabilities |
|
|
|||||||
Provisions for liabilities |
(
|
(
|
|||||||
_______ | _______ | ||||||||
Net assets |
|
|
|||||||
_______ | _______ | ||||||||
Capital and reserves | |||||||||
Called up share capital |
|
|
|||||||
Fair value reserve |
|
|
|||||||
Profit and loss account |
|
|
|||||||
_______ | _______ | ||||||||
Shareholders funds |
|
|
|||||||
_______ | _______ | ||||||||
Director's responsibilities:
-
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;
-
The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
14 September 2022
, and are signed on behalf of the board by:
Director
Company registration number:
05103998
Notes to the financial statements
Year ended 30 June 2022
1.
General information
The company is a private company limited by shares, registered in United Kingdom. The address of the registered office is Queensgate House, 23 North Park Road, Harrogate, North Yorkshire, HG1 5PD.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
Goodwill
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill | - | 20 years |
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property | - | 25 years | ||
Plant and machinery | - |
|
|
|
Fittings fixtures and equipment | - |
|
|
|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Investment property
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, and other costs incurred in bringing the stocks to their present location and condition.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.
Provisions
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
10
(2021:
10
).
5.
Intangible assets
Goodwill | Total | ||
£ | £ | ||
Cost | |||
At 1 July 2021 and 30 June 2022 |
|
|
|
_______ | _______ | ||
Amortisation | |||
At 1 July 2021 |
|
|
|
Charge for the year |
|
|
|
_______ | _______ | ||
At 30 June 2022 |
|
|
|
_______ | _______ | ||
Carrying amount | |||
At 30 June 2022 |
|
|
|
_______ | _______ | ||
At 30 June 2021 |
|
|
|
_______ | _______ | ||
6.
Tangible assets
Freehold property | Plant and machinery | Fixtures, fittings and equipment | Total | ||
£ | £ | £ | £ | ||
Cost or valuation | |||||
At 1 July 2021 |
|
|
|
|
|
Additions |
|
- |
|
|
|
Disposals |
(
|
- | - |
(
|
|
Revaluation |
|
- | - |
|
|
_______ | _______ | _______ | _______ | ||
At 30 June 2022 |
|
|
|
|
|
_______ | _______ | _______ | _______ | ||
Depreciation | |||||
At 1 July 2021 |
|
|
|
|
|
Charge for the year |
|
|
|
|
|
_______ | _______ | _______ | _______ | ||
At 30 June 2022 |
|
|
|
|
|
_______ | _______ | _______ | _______ | ||
Carrying amount | |||||
At 30 June 2022 |
|
|
|
|
|
_______ | _______ | _______ | _______ | ||
At 30 June 2021 |
|
|
|
|
|
_______ | _______ | _______ | _______ | ||
Investment property
Included within the above is investment property measured at fair value as follows:
£ | ||
At 1 July 2021 |
|
|
Fair value adjustments |
|
|
Disposals |
(
|
|
_______ | ||
At 30 June 2022 |
|
|
_______ | ||
The director provided a fair value on the investment properties.
7.
Debtors
2022 | 2021 | |||
£ | £ | |||
Trade debtors |
|
|
||
Other debtors |
|
|
||
_______ | _______ | |||
|
|
|||
_______ | _______ | |||
8.
Creditors: amounts falling due within one year
2022 | 2021 | |||
£ | £ | |||
Trade creditors |
|
|
||
Corporation tax |
|
|
||
Social security and other taxes |
|
|
||
Other creditors |
|
|
||
_______ | _______ | |||
|
|
|||
_______ | _______ | |||
9.
Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company: | |||||
2022 | |||||
Balance brought forward | Advances /(credits) to the director | Amounts repaid | Balance o/standing | ||
£ | £ | £ | £ | ||
|
|
(
|
|
(
|
|
_______ | _______ | _______ | _______ | ||
2021 | |||||
Balance brought forward | Advances /(credits) to the director | Amounts repaid | Balance o/standing | ||
£ | £ | £ | £ | ||
|
(
|
(
|
|
|
|
_______ | _______ | _______ | _______ | ||
10.
Related party transactions
During the year the company paid dividends of £22,000 to the director.