REGISTERED NUMBER:
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PINEDALE SELECT LIMITED |
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 |
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REGISTERED NUMBER:
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PINEDALE SELECT LIMITED |
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 |
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PINEDALE SELECT LIMITED (REGISTERED NUMBER: 03536649) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2022 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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PINEDALE SELECT LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30 JUNE 2022 |
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DIRECTOR: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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PINEDALE SELECT LIMITED (REGISTERED NUMBER: 03536649) |
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BALANCE SHEET |
30 JUNE 2022 |
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30.6.22 | 30.6.21 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
7 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered. |
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The financial statements were approved by the director and authorised for issue on
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PINEDALE SELECT LIMITED (REGISTERED NUMBER: 03536649) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2022 |
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1. | STATUTORY INFORMATION |
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Pinedale Select Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Going concern |
The company meets its day-to-day working capital requirements through its bank facility. After making enquiries, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements. |
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Turnover |
Turnover comprises the rendering of services in the ordinary course of the company's activity. The company recognises turnover when the amount of revenue and related costs can be reliably measured, it is probable that the collectability of the related receivables is reasonably assured. Turnover is measured as the fair value of the consideration received or receivable. |
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The following criteria must also be met before revenue is recognised: |
Rendering of services |
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: |
- the amount of revenue can be measured reliably; |
- it is probable that the company will receive the consideration due under the contract; |
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and |
- the costs incurred and the costs to complete the contract can be measured reliably. |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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Financial instruments |
a) Debtors |
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment. |
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b) Cash and cash equivalents |
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value. |
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c) Creditors |
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment. |
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d) Interest income |
Interest income is recognised in profit or loss using the effective interest method. |
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PINEDALE SELECT LIMITED (REGISTERED NUMBER: 03536649) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2022 |
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2. | ACCOUNTING POLICIES - continued |
Taxation |
The tax expense for the year comprises current and deferred tax. |
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Tax is recognised in profit or loss except that a change attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. |
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Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that: |
- | the recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and |
- | any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. |
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Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL (2021 - NIL). |
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4. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 July 2021 |
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Disposals | ( |
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At 30 June 2022 |
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NET BOOK VALUE |
At 30 June 2022 |
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At 30 June 2021 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.22 | 30.6.21 |
£ | £ |
Trade debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.22 | 30.6.21 |
£ | £ |
Trade creditors |
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Other creditors |
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PINEDALE SELECT LIMITED (REGISTERED NUMBER: 03536649) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2022 |
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7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.6.22 | 30.6.21 |
£ | £ |
Bank loans |
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Other creditors |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans more 5 yr by instal | 31,111 | - |
Other loans more 5yrs instal | - | 35,000 |
31,111 | 35,000 |
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8. | RELATED PARTY DISCLOSURES |
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The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
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9. | ULTIMATE CONTROLLING PARTY |
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The controlling party is M F Cox BSc FCA. |