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

REGISTERED NUMBER: 09380528 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 January 2021

for

Pryde Homes Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

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

FIXED ASSETS

Tangible assets

4

-

21,055

CURRENT ASSETS

Stocks

780,171

688,594

Debtors

5

46,404

17,012

Cash at bank and in hand

18,269

1,106

844,844

706,712

CREDITORS

Amounts falling due within one year

6

755,133

558,316

NET CURRENT ASSETS

89,711

148,396

TOTAL ASSETS LESS CURRENT LIABILITIES

89,711

169,451

CREDITORS

Amounts falling due after more than one year

7

40,493

126,847

NET ASSETS

49,218

42,604

CAPITAL AND RESERVES

Called up share capital

151

151

Retained earnings

49,067

42,453

SHAREHOLDERS' FUNDS

49,218

42,604

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2021 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 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 director and authorised for issue on 25 January 2022 and were signed by:

Mr J Fox - Director

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.

Motor vehicles

-

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 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - NIL ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 February 2020

51,719

Disposals

(50,280

)

At 31 January 2021

1,439

DEPRECIATION

At 1 February 2020

30,664

Charge for year

3,733

Eliminated on disposal

(32,958

)

At 31 January 2021

1,439

NET BOOK VALUE

At 31 January 2021

-

At 31 January 2020

21,055

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.21

31.1.20

£

£

Other debtors

46,404

17,012

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.21

31.1.20

£

£

Bank loans and overdrafts

9,507

-

Trade creditors

109,183

47,340

Taxation and social security

25,468

548

Other creditors

610,975

510,428

755,133

558,316

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.1.21

31.1.20

£

£

Bank loans

40,493

-

Other creditors

-

126,847

40,493

126,847

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.1.21

31.1.20

£

£

Finance company loans

462,997

367,404

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