Percus Technical Limited |
Notes to the Accounts |
for the year ended 31 January 2024 |
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1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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Turnover |
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Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. |
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
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Fixtures and Fittings |
over 7 years reducing balance |
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Plant and machinery |
over 3 years reducing balance |
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Motor vehicles |
over 5 years reducing balance |
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Investments |
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Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). |
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. |
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Foreign currency translation |
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Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. All differences are charged to profit or loss. |
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Pensions |
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Contributions to defined contribution plans are expensed in the period to which they relate. |
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2 |
Employees |
2024 |
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2023 |
Number |
Number |
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Average number of persons employed by the company |
4 |
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4 |
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3 |
Tangible fixed assets |
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Fixtures and Fittings |
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Plant and machinery etc |
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Motor vehicles |
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Total |
£ |
£ |
£ |
£ |
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Cost |
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At 1 February 2023 |
10,610 |
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13,706 |
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58,113 |
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82,429 |
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Disposals |
- |
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(1,549) |
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- |
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(1,549) |
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At 31 January 2024 |
10,610 |
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12,157 |
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58,113 |
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80,880 |
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Depreciation |
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At 1 February 2023 |
1,591 |
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11,279 |
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14,140 |
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27,010 |
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Charge for the year |
1,353 |
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1,266 |
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9,521 |
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12,140 |
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On disposals |
- |
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(1,409) |
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- |
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(1,409) |
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At 31 January 2024 |
2,944 |
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11,136 |
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23,661 |
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37,741 |
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Net book value |
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At 31 January 2024 |
7,666 |
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1,021 |
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34,452 |
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43,139 |
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At 31 January 2023 |
9,019 |
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2,427 |
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43,973 |
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55,419 |
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4 |
Debtors |
2024 |
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2023 |
£ |
£ |
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Trade debtors |
40,862 |
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39,837 |
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Other debtors |
345,000 |
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205,000 |
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385,862 |
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244,837 |
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5 |
Creditors: amounts falling due within one year |
2024 |
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2023 |
£ |
£ |
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Trade creditors |
118 |
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209 |
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Taxation and social security costs |
61,792 |
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39,139 |
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Other creditors |
35,406 |
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2,047 |
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97,316 |
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41,395 |
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6 |
Related party transactions |
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Included within debtors are two unsecured interest free loans to Two Track Ltd (£208,000) and One Track Pony Ltd (£137,000). Mr Toby Atley has the ultilmate controlling interest of both companies. |
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7 |
Controlling party |
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The ultimate controlling interest is held by Mr Toby Atley who owns 50.9% of the issued share capital. |
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8 |
Other information |
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Percus Technical Limited is a private company limited by shares and incorporated in England. Its registered office is: |
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34 Green Park Mews |
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Bath |
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BA1 1JD |