POMROY & SON LTD - Limited company accounts 23.2

REGISTERED NUMBER: 14212222 (England and Wales)

Report of the Directors and

Unaudited Financial Statements for the Period 4 July 2022 to 31 March 2023

for

POMROY & SON LTD

Page

Company Information

1

Report of the Directors

2

Statement of Income and Retained Earnings

3

Balance Sheet

4

Notes to the Financial Statements

5

DIRECTORS:

S R POMROY

E S POMROY

SECRETARY:

MERLIN BUSINESS SERVICES UK LTD

REGISTERED OFFICE:

STAFFORDSHIRE KNOT

PINFOLD STREET

WEDNESBURY

WS10 8TE

REGISTERED NUMBER:

14212222 (England and Wales)

ACCOUNTANTS:

MERLIN ACCOUNTANCY & PAYROLE SERVICES LTD

STAFFORDSHIRE KNOT

PINFOLD STREET

WEDNESBURY

WS10 8TE

The directors present their report with the financial statements of the company for the period 4 July 2022 to 31 March 2023.

INCORPORATION

The company was incorporated on 4 July 2022 and commenced trading on the same date.

DIRECTORS

The directors who have held office during the period from 4 July 2022 to the date of this report are as follows:

S R POMROY - appointed 4 July 2022

E S POMROY - appointed 4 July 2022

Both the directors who are eligible offer themselves for election at the forthcoming first Annual General Meeting.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

S R POMROY - Director

1 December 2023

TURNOVER

116,599

Cost of sales

96,825

GROSS PROFIT

19,774

Administrative expenses

20,206

OPERATING LOSS and

LOSS BEFORE TAXATION

(432

)

Tax on loss

-

LOSS FOR THE FINANCIAL PERIOD

(432

)

RETAINED EARNINGS AT END OF PERIOD

(432

)

CURRENT ASSETS

Stocks

12,500

Cash in hand

10,072

22,572

CREDITORS

Amounts falling due within one year

4

23,002

NET CURRENT LIABILITIES

(430

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(430

)

CAPITAL AND RESERVES

Called up share capital

2

Retained earnings

(432

)

SHAREHOLDERS' FUNDS

(430

)

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 1 December 2023 and were signed on its behalf by:

S R POMROY - Director

1.	STATUTORY INFORMATION

POMROY & SON 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.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 period 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 period was 2 .

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Bank loans and overdrafts

18,998

VAT

2,108

Directors' current accounts

1,479

Accrued expenses

417

23,002