P M Finishers Ltd - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 04084093 (England and Wales)

P M FINISHERS LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

Page

Company Information

1

Report of the Accountants

2

Balance Sheet

3

Notes to the Financial Statements

4

to

6

DIRECTOR:

Mr P D Molloy

SECRETARY:

Mrs B R Molloy

REGISTERED OFFICE:

31 St John's

Worcester

Worcestershire

WR2 5AG

REGISTERED NUMBER:

04084093 (England and Wales)

ACCOUNTANTS:

Gardiner Fosh

Chartered Accountants and Statutory Auditor

31 St John's

Worcester

Worcestershire

WR2 5AG

The following reproduces the text of the report prepared for the director 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 Director are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 March 2023 set out on pages three to seven and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Gardiner Fosh

Chartered Accountants and Statutory Auditor

31 St John's

Worcester

Worcestershire

WR2 5AG

17 May 2023

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

3,404

4,346

Investments

6

69,706

188,600

73,110

192,946

CURRENT ASSETS

Debtors

7

3,845

14,961

Cash at bank

126,402

22,274

130,247

37,235

CREDITORS

Amounts falling due within one year

8

27,238

189,434

NET CURRENT ASSETS/(LIABILITIES)

103,009

(152,199

)

TOTAL ASSETS LESS CURRENT LIABILITIES

176,119

40,747

CAPITAL AND RESERVES

Called up share capital

127,848

127,848

Retained earnings

48,271

(87,101

)

176,119

40,747

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 17 May 2023 and were signed by:

Mr P D Molloy - Director

1.	STATUTORY INFORMATION

P M Finishers 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2022

and 31 March 2023

75,000

AMORTISATION

At 1 April 2022

and 31 March 2023

75,000

NET BOOK VALUE

At 31 March 2023

-

At 31 March 2022

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2022

and 31 March 2023

61,225

DEPRECIATION

At 1 April 2022

56,879

Charge for year

942

At 31 March 2023

57,821

NET BOOK VALUE

At 31 March 2023

3,404

At 31 March 2022

4,346

6.	FIXED ASSET INVESTMENTS

Interest

in joint

venture

£

COST

At 1 April 2022

188,600

Disposals

(118,894

)

At 31 March 2023

69,706

NET BOOK VALUE

At 31 March 2023

69,706

At 31 March 2022

188,600

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

3,585

14,250

Other debtors

260

711

3,845

14,961

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade creditors

(1

)

(1

)

Taxation and social security

35,894

263

Other creditors

(8,655

)

189,172

27,238

189,434