ACCOUNTS - Final Accounts preparation

PFD DEVELOPMENTS LIMITED - Company Information

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Registered number: 12390124

PFD Developments Limited

Unaudited

Financial statements

Information for filing with the registrar

For the period ended 31 January 2021

PFD Developments Limited

Registered number: 12390124

Balance sheet

As at 31 January 2021

		2021
Note		£


Current assets
Debtors: amounts falling due within one year	3	273
Creditors: amounts falling due within one year	4	(3,018)
Net current (liabilities)/assets			(2,745)

Net (liabilities)/assets			(2,745)

Capital and reserves
Called up share capital	5	100
Profit and loss account		(2,845)
		(2,745)

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 17 September 2021.

Jane M Mansfield

Director

The notes on pages 3 to 4 form part of these financial statements.

Page 1

PFD Developments Limited

Statement of changes in equity

For the period ended 31 January 2021

	Called up share capital	Profit and loss account	Total equity
	£	£	£

Comprehensive income for the period
Loss for the period	-	(2,845)	(2,845)
Total comprehensive income for the period	-	(2,845)	(2,845)
Shares issued during the period	100	-	100
Total transactions with owners	100	-	100
At 31 January 2021	100	(2,845)	(2,745)

The notes on pages 3 to 4 form part of these financial statements.

Page 2

PFD Developments Limited

Notes to the financial statements

For the period ended 31 January 2021

1.	General information

PFD Developments Limited is a private company limited by shares which was incorporated in England.
The company's registered office is 14 Polo Field Drive, Canterbury, Kent, CT3 4FA.
The financial statements are presented in Pounds Sterling, and rounded to the nearest pound.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Going concern

The financial statements have been prepared on a going concern basis. While the impact of the Covid-19 virus has been assessed by the directors, so far as reasonably possible, due to its unprecedented impact on the wider economy, it is difficult to evaluate with any certainty the potential outcomes on the company’s trade, its customers and suppliers. However, taking into consideration the UK Government’s response and the company’s planning, the directors have a reasonable expectation that the company will continue in operational existence for the foreseeable future.

2.3

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.4

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.5

Financial instruments

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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PFD Developments Limited

Notes to the financial statements

For the period ended 31 January 2021

Debtors

					2021
					£


	Other debtors	273

4.	Creditors: Amounts falling due within one year
		2021
		£

	Trade creditors	468
	Other creditors	1,070
	Accruals and deferred income	1,480
		3,018

5.	Share capital
		2021
		£

		Allotted, called up and fully paid

		100 Ordinary shares of £1.00 each	100

On incorporation the company allotted 100 shares at par.

6.	Related party transactions
	As at 31 January 2021, the company owed one of the directors Jane M Mansfield a balance of £1,070.

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