PVL TRADERS LTD - Accounts

PVL TRADERS LTD - Accounts

PVL TRADERS LTD - Company Information

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Registered Number: 10883130
England and Wales

 

 

 

PVL TRADERS LTD


Abridged Accounts
 


Period of accounts

Start date: 01 August 2022

End date: 31 July 2023

PVL TRADERS LTD
Contents Page
For the year ended 31 July 2023
Accountant’s report
You consider that the company is exempt from an audit for the year ended 31 July 2023 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
JK ACCOUNTANTS
31 July 2023



....................................................
JK ACCOUNTANTS
10 Woodbine Place
Wanstead
London
E11 2RH
29 April 2024
1
 
 		 Notes
 		 2023
£		   2022
£
Fixed assets      
Tangible fixed assets 3 94,792    102,217 
Investments 4 112,048    112,048 
206,840    214,265 
Current assets      
Stocks 130,000    208,000 
Debtors: amounts falling due within one year 0    1 
Cash at bank and in hand 40,224    16,238 
170,224    224,239 
Creditors: amount falling due within one year (291,699)   (312,382)
Net current assets (121,475)   (88,143)
 
Total assets less current liabilities 85,365    126,122 
Creditors: amount falling due after more than one year (72,688)   (91,705)
Net assets 12,677    34,417 
 

Capital and reserves 		     
Called up share capital 100    100 
Profit and loss account 12,577    34,317 
Shareholder's funds 12,677    34,417 
 


For the year ended 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 29 April 2024 and were signed by:


-------------------------------
Praneeth KATTURI
Director
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General Information
PVL TRADERS LTD is a private company, limited by shares, registered in England and Wales, registration number 10883130, registration address 876 Carmarthen Road, Fforestfach, Swansea, Wales., Swansea, Wales, SA5 8HR.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings NA Reducing Balance
Plant and Machinery 15% Reducing Balance
Motor Vehicles 20% Straight Line
Fixtures and Fittings 15% Straight Line
Computer Equipment 25% Straight Line
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and are not depreciated.
Future obligations under such contracts will be treated as rent and  allocated to future periods.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 13 (2022 : 11).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Computer Equipment   Land and Buildings   Total
  £   £   £   £   £   £
At 01 August 2022 33,962    9,900    20,000    3,241    65,021    132,124 
Additions -    -    -    -    -    - 
Disposals -    -    -    -    -    - 
At 31 July 2023 33,962    9,900    20,000    3,241    65,021    132,124 
Depreciation
At 01 August 2022 9,479    3,960    12,000    2,431    -    27,870 
Charge for year 3,672    1,980    3,000    810    -    9,462 
On disposals -    -    -    -    -    - 
At 31 July 2023 13,151    5,940    15,000    3,241    -    37,332 
Net book values
Closing balance as at 31 July 2023 20,811    3,960    5,000    -    65,021    94,792 
Opening balance as at 01 August 2022 22,446    5,940    8,000    810    65,021    102,217 

The net book value of Land and Buildings includes £ 65,021 (2022 £65,021) in respect of assets leased under finance leases or hire purchase contracts.

4.

Investments

Cost Other investments other than loans   Total
  £   £
At 01 August 2022 -    - 
Additions -    - 
Transfer to/from tangible fixed assets 0    0 
Disposals -    - 
At 31 July 2023 -    - 

3