Pinemark Projects Ltd - Limited company accounts 23.2

PINEMARK PROJECTS LTD - Company Information

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REGISTERED NUMBER: 07341367

Report of the Director and

Unaudited Financial Statements for the Year Ended 31 August 2023

for

Pinemark Projects Ltd

Page

Company Information

Report of the Director

Income Statement

Balance Sheet

Notes to the Financial Statements

DIRECTOR:

S J Crayford

SECRETARY:

REGISTERED OFFICE:

Unit C3

Knights Park Industrial Estate

Knight Road

Rochester

Kent

ME2 2LS

REGISTERED NUMBER:

07341367

ACCOUNTANTS:

I.B.C.

Suite 1, Unit C3

Knights Park Industrial Estate

Knight Road

Rochester

Kent

ME2 2LS

The director presents his report with the financial statements of the company for the year ended 31 August 2023.

DIRECTOR

S J Crayford held office during the whole of the period from 1 September 2022 to the date of this report.

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 J Crayford - Director

3 May 2024

TURNOVER

1,304,814

1,078,691

Cost of sales

1,042,820

782,619

GROSS PROFIT

261,994

296,072

Administrative expenses

143,490

136,116

OPERATING PROFIT

118,504

159,956

Interest payable and similar expenses

1,585

PROFIT BEFORE TAXATION

118,504

158,371

Tax on profit

22,875

30,327

PROFIT FOR THE FINANCIAL YEAR

95,629

128,044

FIXED ASSETS

Tangible assets

5,491

7,322

Investments

5,554

7,385

CURRENT ASSETS

Stocks

15,000

25,000

Debtors

44,743

46,755

Cash at bank

356,252

252,582

415,995

324,337

CREDITORS

Amounts falling due within one year

171,770

139,706

NET CURRENT ASSETS

244,225

184,631

TOTAL ASSETS LESS CURRENT
LIABILITIES

249,779

192,016

CREDITORS

Amounts falling due after more than one
year

3,664

NET ASSETS

249,779

188,352

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

249,679

188,252

SHAREHOLDERS' FUNDS

249,779

188,352

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the director and authorised for issue on 3 May 2024 and were signed by:

S J Crayford - Director

1.	STATUTORY INFORMATION

Pinemark Projects Ltd is a private company, limited by shares , registered in Not specified/Other. 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.

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 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2022 - 10 ) .

4.	OPERATING PROFIT

The operating profit is stated after charging:

31.8.23

31.8.22

Depreciation - owned assets

1,831

2,442

DIVIDENDS

31.8.23

31.8.22

Final

34,202

8,000

6.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

COST

At 1 September 2022

and 31 August 2023

25,620

2,420

22,035

1,540

51,615

DEPRECIATION

At 1 September 2022

24,549

2,344

15,975

1,425

44,293

Charge for year

268

1,515

1,831

At 31 August 2023

24,817

2,363

17,490

1,454

46,124

NET BOOK VALUE

At 31 August 2023

803

4,545

5,491

At 31 August 2022

1,071

6,060

115

7,322

7.	FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:

31.8.23

31.8.22

Incorporation Costs

DEBTORS

31.8.23

31.8.22

Amounts falling due within one year:

Trade debtors

18,243

20,255

Amounts falling due after more than one year:

Trade debtors

26,500

Aggregate amounts

44,743

46,755

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.23

31.8.22

Bank loans and overdrafts

28,333

38,333

Trade creditors

85,503

40,742

Tax

22,875

30,327

VAT

8,138

11,457

Directors' loan accounts

549

Accruals and deferred income

26,372

18,298

171,770

139,706

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.8.23

31.8.22

Bank loans - 2-5 years

3,664