P G Bish Limited Filleted accounts for Companies House (small and micro)

P. G. BISH LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 01284376

P G BISH LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

30 September 2022

P G BISH LIMITED

STATEMENT OF FINANCIAL POSITION

30 September 2022

	2022		2021
Note	£	£	£

Fixed assets

Tangible assets	5		–	99,739

Current assets

Stocks		48,022	29,518
Debtors	6	390,274	227,861
Cash at bank and in hand		135,963	357,970
		----------	----------
		574,259	615,349

Creditors: amounts falling due within one year	7	( 293,822)		( 385,274)
		----------		----------
Net current assets			280,437	230,075
			----------	----------
Total assets less current liabilities			280,437	329,814

Creditors: amounts falling due after more than one year	8	( 60,000)	( 120,000)
		----------	----------
Net assets		220,437	209,814
		----------	----------

Capital and reserves

Called up share capital	2	2
Profit and loss account	220,435	209,812
	----------	----------
Shareholders funds	220,437	209,814
	----------	----------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 30 September 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

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

P G BISH LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

30 September 2022

These financial statements were approved by the board of directors and authorised for issue on 30 June 2023 , and are signed on behalf of the board by:

M O'Hara

Director

Company registration number: 01284376

P G BISH LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 30 SEPTEMBER 2022

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 31 Bolney Grange Business Park, Stairbridge Lane, Bolney, Haywards Heath, RH17 5PA.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Disclosure exemptions

No cash flow statement has been presented for the company.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Significant judgements The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows below.

Revenue recognition

Revenue is recognised at the point at which sales of services are supplied to customers. Where services are performed gradually over time revenue is recognised as activity progresses by reference to the value of work performed.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold property	-	50 years
Plant and machinery	-	5 years
Office furniture and equipment	-	4 years/10 years
Motor vehicles	-	6 years
Website	-	5 years

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 18 (2021: 18 ).

5. Tangible assets

	Freehold property	Plant and machinery	Fixtures, fittings and equipment	Motor vehicles	Website	Total
	£	£	£	£	£	£
Cost
At 1 Oct 2021	169,032	18,305	57,806	38,830	999	284,972
Disposals	( 169,032)	–	–	–	–	( 169,032)
	----------	---------	---------	---------	----	----------
At 30 Sep 2022	–	18,305	57,806	38,830	999	115,940
	----------	---------	---------	---------	----	----------
Depreciation
At 1 Oct 2021	69,293	18,305	57,806	38,830	999	185,233
Disposals	( 69,293)	–	–	–	–	( 69,293)
	----------	---------	---------	---------	----	----------
At 30 Sep 2022	–	18,305	57,806	38,830	999	115,940
	----------	---------	---------	---------	----	----------
Carrying amount
At 30 Sep 2022	–	–	–	–	–	–
	----------	---------	---------	---------	----	----------
At 30 Sep 2021	99,739	–	–	–	–	99,739
	----------	---------	---------	---------	----	----------

6. Debtors

	2022	2021
	£	£
Trade debtors	299,693	209,942
Amounts owed by group undertakings and undertakings in which the company has a participating interest	65,977	–
Other debtors	24,604	17,919
	----------	----------
	390,274	227,861
	----------	----------

7. Creditors: amounts falling due within one year

	2022	2021
	£	£
Bank loans and overdrafts	–	30,000
Trade creditors	250,022	220,560
Social security and other taxes	27,677	53,692
Other creditors	16,123	81,022
	----------	----------
	293,822	385,274
	----------	----------

8. Creditors: amounts falling due after more than one year

	2022	2021
	£	£
Bank loans and overdrafts	60,000	120,000
	---------	----------

9. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2022	2021
	£	£
Not later than 1 year	19,000	–
Later than 1 year and not later than 5 years	57,000	–
Later than 5 years	6,000	–
	---------	----
	82,000	–
	---------	----

10. Related party transactions

Big Cheese Investments Limited made an accountancy support charge to the company of £NIL (2021: £30,000). Big Cheese Investments Limited is a company controlled by S Hayman, T Nitman and M O'Hara . Clarity Financial Solutions LLP made an accountancy support charge to the company of £23,995 (2021: £NIL). Clarity Financial Solutions LLP is a company controlled by M O'Hara . P G Bish Limited received £NIL (2021: £803) of sales from J. Cheesmur & Sons (Lewes) Limited and made purchases totalling £NIL (2021: £2,175). J. Cheesmur & Sons (Lewes) Limited is a company controlled by S Hayman, T Nitman and M O'Hara . During the year the freehold property was sold to a pension fund, the fund is in the names of S Hayman, T Nitman and M O'Hara . The pension fund charged the company £12,102.74 of rent. The company referred to in Note 7 is Big Cheese Investments Limited.

11. Controlling party

The Company was acquired by Big Cheese Investments Limited on 14 February 2017. Big Cheese Investments Limited is a company registered in England and Wales.