Pinebeam Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02898478 (England and Wales)

Unaudited Financial Statements

for the Year Ended 28 February 2021

for

PINEBEAM LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

6

DIRECTORS:

D Peever

R Edwards

S Glick

SECRETARY:

J Peever

REGISTERED OFFICE:

Llanover House

Llanover Road

Pontypridd

Rhondda Cynon Taff

CF37 4DY

REGISTERED NUMBER:

02898478 (England and Wales)

ACCOUNTANTS:

James de Frias

Chartered Accountants

Llanover House

Llanover Road

Pontypridd

Mid Glamorgan

CF37 4DY

BANKERS:

Barclays Bank

Pontypridd Business Centre

South Wales Valleys Group

PO Box No 32

Pontypridd

Mid Glamorgan

CF37 4YA

FIXED ASSETS

Tangible assets

4

45,580

53,865

CURRENT ASSETS

Stocks

12,850

13,750

Debtors

5

440,786

437,787

Cash at bank and in hand

60,896

11,501

514,532

463,038

CREDITORS

Amounts falling due within one year

6

237,259

139,302

NET CURRENT ASSETS

277,273

323,736

TOTAL ASSETS LESS CURRENT LIABILITIES

322,853

377,601

CREDITORS

Amounts falling due after more than one year

7

(4,680

)

(6,240

)

PROVISIONS FOR LIABILITIES

(8,660

)

(10,234

)

NET ASSETS

309,513

361,127

CAPITAL AND RESERVES

Called up share capital

360

360

Retained earnings

309,153

360,767

SHAREHOLDERS' FUNDS

309,513

361,127

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 25 October 2021 and were signed on its behalf by:

D Peever - Director

1.	STATUTORY INFORMATION

Pinebeam 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.

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 derived from the company's ordinary activities and represents invoiced sales of goods and services and is stated net of trade discounts, 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

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

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 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 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 year was 27 (2020 - 26 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 29 February 2020

60,874

5,556

54,825

121,255

Additions

-

-

6,250

6,250

At 28 February 2021

60,874

5,556

61,075

127,505

DEPRECIATION

At 29 February 2020

35,496

3,088

28,806

67,390

Charge for year

6,358

619

7,558

14,535

At 28 February 2021

41,854

3,707

36,364

81,925

NET BOOK VALUE

At 28 February 2021

19,020

1,849

24,711

45,580

At 28 February 2020

25,378

2,468

26,019

53,865

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.21

28.2.20

£

£

Trade debtors

436,167

437,787

Other debtors

4,619

-

440,786

437,787

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.21

28.2.20

£

£

Bank loans and overdrafts

50,000

-

Trade creditors

48,272

67,216

Taxation and social security

86,503

21,777

Other creditors

52,484

50,309

237,259

139,302

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

28.2.21

28.2.20

£

£

Hire purchase contracts

4,680

6,240

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 28 February 2021 and 28 February 2020:

28.2.21

28.2.20

£

£

D Peever

Balance outstanding at start of year

(5,380

)

(5,380

)

Amounts advanced

13,500

-

Amounts repaid

(3,500

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

4,620

(5,380

)

9.	ULTIMATE CONTROLLING PARTY

The controlling party is D Peever.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Pinebeam Ltd for the year ended 28 February 2021 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Pinebeam Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Pinebeam Ltd and state those matters that we have agreed to state to the Board of Directors of Pinebeam Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Pinebeam Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Pinebeam Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Pinebeam Ltd. You consider that Pinebeam Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Pinebeam Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

James de Frias

Chartered Accountants

Llanover House

Llanover Road

Pontypridd

Mid Glamorgan

CF37 4DY

1 November 2021