Pryde Homes Limited - Accounts to registrar (filleted) - small 18.2

Pryde Homes Limited - Accounts to registrar (filleted) - small 18.2

PRYDE HOMES LIMITED - Company Information

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REGISTERED NUMBER: 09380528 (England and Wales)















Unaudited Financial Statements

for the Period 1 February 2021 to 31 March 2022

for

Pryde Homes Limited
Pryde Homes Limited (Registered number: 09380528)






Contents of the Financial Statements
for the Period 1 February 2021 to 31 March 2022




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Pryde Homes Limited

Company Information
for the Period 1 February 2021 to 31 March 2022







DIRECTOR: Mr J Fox





REGISTERED OFFICE: Number Sixty One
Alexandra Road
Lowestoft
Suffolk
NR32 1PL





REGISTERED NUMBER: 09380528 (England and Wales)





ACCOUNTANTS: CUNNINGHAMS
Number Sixty One
Alexandra Road
Lowestoft
Suffolk
NR32 1PL
Page 1
Pryde Homes Limited (Registered number: 09380528)

Abridged Balance Sheet
31 March 2022

31.3.22 31.1.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 30,507 -

CURRENT ASSETS
Stocks 1,050,616 780,171
Debtors 81,803 46,404
Cash at bank and in hand 4,762 18,269
1,137,181 844,844
CREDITORS
Amounts falling due within one year 991,521 755,133
NET CURRENT ASSETS 145,660 89,711
TOTAL ASSETS LESS CURRENT
LIABILITIES
176,167
89,711

CREDITORS
Amounts falling due after more than one
year
(58,237
)
(40,493
)

PROVISIONS FOR LIABILITIES (5,796 ) -
NET ASSETS 112,134 49,218

CAPITAL AND RESERVES
Called up share capital 151 151
Retained earnings 111,983 49,067
SHAREHOLDERS' FUNDS 112,134 49,218

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2022 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 notes form part of these financial statements

Page 2 continued...
Pryde Homes Limited (Registered number: 09380528)

Abridged Balance Sheet - continued
31 March 2022


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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the period ended 31 March 2022 in accordance with Section 444(2A) of the Companies Act 2006.

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 23 December 2022 and were signed by:





Mr J Fox - Director


The notes form part of these financial statements

Page 3
Pryde Homes Limited (Registered number: 09380528)

Notes to the Financial Statements
for the Period 1 February 2021 to 31 March 2022

1. STATUTORY INFORMATION

Pryde Homes 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the period 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 period 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.

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 period was 2 (2021 - 2 ) .

Page 4 continued...
Pryde Homes Limited (Registered number: 09380528)

Notes to the Financial Statements - continued
for the Period 1 February 2021 to 31 March 2022

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 February 2021 1,439
Additions 32,449
At 31 March 2022 33,888
DEPRECIATION
At 1 February 2021 1,439
Charge for period 1,942
At 31 March 2022 3,381
NET BOOK VALUE
At 31 March 2022 30,507
At 31 January 2021 -

5. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.3.22 31.1.21
£    £   
Net obligations repayable:
Within one year 5,403 -
Between one and five years 18,547 -
23,950 -


6. SECURED DEBTS

The following secured debts are included within creditors:

31.3.22 31.1.21
£    £   
Finance company loans 533,102 462,997
Hire purchase contracts 23,950 -
557,052 462,997

Finance company loans are secured on property owned by the company.

Hire purchase contracts are secured on the assets to which they relate.

Page 5