P.N. Lee Statistics and Computing Ltd. - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 01688551 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

P.N. LEE STATISTICS AND COMPUTING LTD.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Report of the Accountants

7

DIRECTOR:

P N Lee

SECRETARY:

K Coombs

REGISTERED OFFICE:

Second Floor

289 Green Lanes

Palmers Green

London

N13 4XS

REGISTERED NUMBER:

01688551 (England and Wales)

ACCOUNTANTS:

Hetherington and Co Limited

Chartered Certified Accountants and

Registered Auditors

Second Floor

289 Green Lanes

Palmers Green

London

N13 4XS

FIXED ASSETS

Tangible assets

4

1,525

507

CURRENT ASSETS

Debtors

5

95,830

59,250

Cash at bank

941,610

1,027,641

1,037,440

1,086,891

CREDITORS

Amounts falling due within one year

6

19,082

27,096

NET CURRENT ASSETS

1,018,358

1,059,795

TOTAL ASSETS LESS CURRENT LIABILITIES

1,019,883

1,060,302

PROVISIONS FOR LIABILITIES

215

-

NET ASSETS

1,019,668

1,060,302

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

1,019,568

1,060,202

SHAREHOLDERS' FUNDS

1,019,668

1,060,302

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 1 September 2023 and were signed by:

P N Lee - Director

1.	STATUTORY INFORMATION

P.N. Lee Statistics and Computing 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 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.

Computer Equipment 33% on cost

Furniture and Equipment 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Operating leases

Payments under operating leases are written off to Profit and Loss Account on accruals basis.

Pension costs and other post-retirement benefits

The Company operates defined contribution pension schemes. The Company also makes employer contributions to personal pension schemes in respect of certain members of staff.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2022

95,150

Additions

2,211

At 31 March 2023

97,361

DEPRECIATION

At 1 April 2022

94,643

Charge for year

1,193

At 31 March 2023

95,836

NET BOOK VALUE

At 31 March 2023

1,525

At 31 March 2022

507

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Trade debtors

69,820

19,154

Corporation Tax Refund due

8,229

-

VAT

4,063

4,483

Deferred tax asset

-

8

Accrued income

11,039

32,904

Prepayments

2,679

2,701

95,830

59,250

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Corporation tax

-

11,463

Social security and other taxes

5,088

4,221

Directors' current accounts

717

1,159

Accrued expenses

13,277

10,253

19,082

27,096

7.	LEASING AGREEMENTS

At the year end date the company had total commitments under non-cancellable operating lease agreements over the remaining life of those leases of £9,872 (2022: £14,808).

8.	OTHER FINANCIAL COMMITMENTS

The company operates a defined contribution pension scheme for its employees. The assets of the scheme are held separately from those of the company. At the balance sheet date unpaid contributions due to the fund totalled £3,333 (2022: £3,333). The unpaid contributions are included in accrued expenses.

9.	ULTIMATE CONTROLLING PARTY

The Company is controlled by Mr P N Lee by virtue of his majority shareholding.

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 eight 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.

Hetherington and Co Limited

Chartered Certified Accountants and

Registered Auditors

Second Floor

289 Green Lanes

Palmers Green

London

N13 4XS

1 September 2023