The P R Munson Group Limited Filleted accounts for Companies House (small and micro)

THE P R MUNSON GROUP LIMITED - Company Information

4 false false false false false false false false false true false false false false false false No description of principal activity 2021-04-01 Sage Accounts Production Advanced 2021 - FRS102_2021 5,704 5,704 5,704 xbrli:pure xbrli:shares iso4217:GBP 03454456 2021-04-01 2022-03-31 03454456 2022-03-31 03454456 2021-03-31 03454456 2020-04-01 2021-03-31 03454456 2021-03-31 03454456 core:FurnitureFittings 2021-04-01 2022-03-31 03454456 bus:Director1 2021-04-01 2022-03-31 03454456 core:FurnitureFittings 2021-03-31 03454456 core:LandBuildings core:OwnedOrFreeholdAssets 2022-03-31 03454456 core:FurnitureFittings 2022-03-31 03454456 core:WithinOneYear 2022-03-31 03454456 core:WithinOneYear 2021-03-31 03454456 core:ShareCapital 2022-03-31 03454456 core:ShareCapital 2021-03-31 03454456 core:RetainedEarningsAccumulatedLosses 2022-03-31 03454456 core:RetainedEarningsAccumulatedLosses 2021-03-31 03454456 core:CostValuation core:Non-currentFinancialInstruments 2022-03-31 03454456 core:Non-currentFinancialInstruments 2022-03-31 03454456 core:Non-currentFinancialInstruments 2021-03-31 03454456 core:LandBuildings core:OwnedOrFreeholdAssets 2021-03-31 03454456 core:FurnitureFittings 2021-03-31 03454456 bus:SmallEntities 2021-04-01 2022-03-31 03454456 bus:AuditExemptWithAccountantsReport 2021-04-01 2022-03-31 03454456 bus:FullAccounts 2021-04-01 2022-03-31 03454456 bus:SmallCompaniesRegimeForAccounts 2021-04-01 2022-03-31 03454456 bus:PrivateLimitedCompanyLtd 2021-04-01 2022-03-31

COMPANY REGISTRATION NUMBER: 03454456

The P R Munson Group Limited

Unaudited financial statements

31 March 2022

The P R Munson Group Limited

Statement of financial position

31 March 2022

	2022		2021
Note	£	£	£	£

Fixed assets

Tangible assets	5	2,341,185	2,341,720
Investments	6	5,704	5,704
		-----------	-----------
		2,346,889	2,347,424

Current assets

Debtors	7	1,713,443	1,628,471
Cash at bank and in hand		70,496	37,820
		-----------	-----------
		1,783,939	1,666,291

Creditors: Amounts falling due within one year	8	( 36,212)		( 39,875)
		-----------		-----------
Net current assets			1,747,727		1,626,416
			-----------		-----------
Total assets less current liabilities			4,094,616		3,973,840

Provisions

Taxation including deferred tax	( 576)	( 675)
	-----------	-----------
Net assets	4,094,040	3,973,165
	-----------	-----------

Capital and reserves

Called up share capital	5,706	5,706
Profit and loss account	4,088,334	3,967,459
	-----------	-----------
Shareholders funds	4,094,040	3,973,165
	-----------	-----------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

The P R Munson Group Limited

Statement of financial position (continued)

31 March 2022

These financial statements were approved by the board of directors and authorised for issue on 7 October 2022 , and are signed on behalf of the board by:

S J Munson

Director

Company registration number: 03454456

The P R Munson Group Limited

Notes to the financial statements

Year ended 31 March 2022

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Coach Depot, Ipswich Road, Hadleigh, Suffolk, IP7 6BG.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Consolidation

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

Revenue recognition

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.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

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:

	Fixtures and fittings	-	15% reducing balance

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

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. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of employees during the year was 4 (2021: 3 ).

5. Tangible assets

	Investment property	Fixtures and fittings	Total
	£	£	£
Cost
At 1 April 2021 and 31 March 2022	2,338,151	3,859	2,342,010
	-----------	------	-----------
Depreciation
At 1 April 2021	–	290	290
Charge for the year	–	535	535
	-----------	------	-----------
At 31 March 2022	–	825	825
	-----------	------	-----------
Carrying amount
At 31 March 2022	2,338,151	3,034	2,341,185
	-----------	------	-----------
At 31 March 2021	2,338,151	3,569	2,341,720
	-----------	------	-----------

The property is held at open market value provided by the directors of the company.

6. Investments

	Other investments other than loans
	£
Cost
At 1 April 2021 and 31 March 2022	5,704
	------
Impairment
At 1 April 2021 and 31 March 2022	–
	------

Carrying amount
At 31 March 2022	5,704
	------
At 31 March 2021	5,704
	------

7. Debtors

	2022	2021
	£	£
Trade debtors	15,060	13,620
Amounts owed by group undertakings and undertakings in which the company has a participating interest	503,540	423,449
Other debtors	1,194,843	1,191,402
	-----------	-----------
	1,713,443	1,628,471
	-----------	-----------

8. Creditors: Amounts falling due within one year

	2022	2021
	£	£
Trade creditors	96	5
Social security and other taxes	34,736	36,916
Other creditors	1,380	2,954
	-------	-------
	36,212	39,875
	-------	-------

9. Directors' advances, credits and guarantees

Included within debtors at the year end are directors loan accounts totalling £46,857 (2021: £44,416). Interest of £2,532 was charged at the official rate.