REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 20 September 2022 to 30 September 2023 |
for |
Picton Renovations Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 20 September 2022 to 30 September 2023 |
for |
Picton Renovations Ltd |
Picton Renovations Ltd (Registered number: 14365722) |
Contents of the Financial Statements |
for the Period 20 September 2022 to 30 September 2023 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 |
Picton Renovations Ltd |
Company Information |
for the Period 20 September 2022 to 30 September 2023 |
Directors: |
Registered office: |
Registered number: |
Accountants: |
Chartered Accountants |
114-120 Northgate Street |
Chester |
CH1 2HT |
Picton Renovations Ltd (Registered number: 14365722) |
Statement of Financial Position |
30 September 2023 |
Notes | £ |
Current assets |
Stocks |
Debtors | 4 |
Cash at bank |
Creditors |
Amounts falling due within one year | 5 |
Net current liabilities | ( |
) |
Total assets less current liabilities | ( |
) |
Capital and reserves |
Called up share capital |
Retained earnings | ( |
) |
( |
) |
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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Picton Renovations Ltd (Registered number: 14365722) |
Notes to the Financial Statements |
for the Period 20 September 2022 to 30 September 2023 |
1. | Statutory information |
Picton Renovations Ltd is a |
2. | Accounting policies |
Basis of preparing the financial statements |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Financial instruments |
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. |
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. |
Debt instruments are subsequently measured at amortised cost. |
Taxation |
Taxation for the period 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 statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
Picton Renovations Ltd (Registered number: 14365722) |
Notes to the Financial Statements - continued |
for the Period 20 September 2022 to 30 September 2023 |
2. | Accounting policies - continued |
Going concern |
These financial statements are prepared on the going concern basis, on the assumption that the directors will continue to provide financial support to the company to enable it to meet its current liabilities, which exceeded its current assets at 30 September 2023. |
3. | Employees and directors |
The average number of employees during the period was NIL. |
4. | Debtors: amounts falling due within one year |
£ |
Other debtors |
5. | Creditors: amounts falling due within one year |
£ |
Bank loans and overdrafts |
Other creditors |
6. | Secured debts |
The following secured debts are included within creditors: |
£ |
Bank loans |
Bank loans are secured on the company's stocks. |
7. | Related party disclosures |
During the year the directors made loans to the company. At 30 September 2023 the balance on these loans was £93,256. The loans are unsecured, interest free and repayable on demand. |