P.M. Stevens Limited - Period Ending 2022-11-30
P.M. Stevens Limited - Period Ending 2022-11-30
Registration number:
P.M. Stevens Limited
for the Year Ended 30 November 2022
P.M. Stevens Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
P.M. Stevens Limited
Company Information
Director |
Mr P M Stevens |
Company secretary |
Mrs P C Judd |
Registered office |
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Accountants |
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P.M. Stevens Limited
(Registration number: 04976280)
Balance Sheet as at 30 November 2022
Note |
2022 |
2021 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
100 |
100 |
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Retained earnings |
18,158 |
35,922 |
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Shareholders' funds |
18,258 |
36,022 |
For the financial year ending 30 November 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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P.M. Stevens Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2022
General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The financial statements are prepared in sterling, which is the functional currency of the entity, and rounded to the nearest £1.
Revenue recognition
Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.
P.M. Stevens Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2022
2 |
Accounting policies (continued) |
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Motor vehicles |
25% reducing balance |
Fixtures, fittings and equipment |
15% reducing balance |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. New realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
P.M. Stevens Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2022
Intangible assets |
Goodwill |
Total |
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Cost or valuation |
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At 1 December 2021 |
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At 30 November 2022 |
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Amortisation |
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At 1 December 2021 |
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At 30 November 2022 |
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Carrying amount |
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At 30 November 2022 |
- |
- |
Tangible assets |
Fixtures fittings and equipment |
Motor vehicles |
Total |
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Cost or valuation |
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At 1 December 2021 |
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At 30 November 2022 |
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Depreciation |
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At 1 December 2021 |
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Charge for the year |
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At 30 November 2022 |
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Carrying amount |
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At 30 November 2022 |
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At 30 November 2021 |
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Debtors |
2022 |
2021 |
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Prepayments |
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P.M. Stevens Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2022
Creditors |
Creditors: amounts falling due within one year
2022 |
2021 |
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Due within one year |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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