IRIS Accounts Production v18.3.0.590 04078627 Board of Directors 1.10.17 30.9.18 30.9.18 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure040786272017-09-30040786272018-09-30040786272017-10-012018-09-30040786272016-09-30040786272016-10-012017-09-30040786272017-09-3004078627ns15:EnglandWales2017-10-012018-09-3004078627ns14:PoundSterling2017-10-012018-09-3004078627ns10:Director12017-10-012018-09-3004078627ns10:PrivateLimitedCompanyLtd2017-10-012018-09-3004078627ns10:SmallEntities2017-10-012018-09-3004078627ns10:AuditExempt-NoAccountantsReport2017-10-012018-09-3004078627ns10:SmallCompaniesRegimeForDirectorsReport2017-10-012018-09-3004078627ns10:SmallCompaniesRegimeForAccounts2017-10-012018-09-3004078627ns10:FullAccounts2017-10-012018-09-300407862712017-10-012018-09-3004078627ns10:Director22017-10-012018-09-3004078627ns10:Director32017-10-012018-09-3004078627ns10:CompanySecretary12017-10-012018-09-3004078627ns10:RegisteredOffice2017-10-012018-09-3004078627ns5:CurrentFinancialInstruments2018-09-3004078627ns5:CurrentFinancialInstruments2017-09-3004078627ns5:Non-currentFinancialInstruments2018-09-3004078627ns5:Non-currentFinancialInstruments2017-09-3004078627ns5:ShareCapital2018-09-3004078627ns5:ShareCapital2017-09-3004078627ns5:RetainedEarningsAccumulatedLosses2018-09-3004078627ns5:RetainedEarningsAccumulatedLosses2017-09-3004078627ns5:IntangibleAssetsOtherThanGoodwill2017-10-012018-09-3004078627ns5:PatentsTrademarksLicencesConcessionsSimilar2017-10-012018-09-3004078627ns5:LandBuildingsns5:OwnedOrFreeholdAssets2017-10-012018-09-3004078627ns5:PlantMachinery2017-10-012018-09-3004078627ns5:FurnitureFittings2017-10-012018-09-3004078627ns5:MotorVehicles2017-10-012018-09-3004078627ns5:ComputerEquipment2017-10-012018-09-3004078627ns5:IntangibleAssetsOtherThanGoodwill2017-09-3004078627ns5:IntangibleAssetsOtherThanGoodwill2018-09-3004078627ns5:IntangibleAssetsOtherThanGoodwill2017-09-3004078627ns5:LandBuildings2017-09-3004078627ns5:PlantMachinery2017-09-3004078627ns5:FurnitureFittings2017-09-3004078627ns5:LandBuildings2017-10-012018-09-3004078627ns5:LandBuildings2018-09-3004078627ns5:PlantMachinery2018-09-3004078627ns5:FurnitureFittings2018-09-3004078627ns5:LandBuildings2017-09-3004078627ns5:PlantMachinery2017-09-3004078627ns5:FurnitureFittings2017-09-3004078627ns5:MotorVehicles2017-09-3004078627ns5:ComputerEquipment2017-09-3004078627ns5:MotorVehicles2018-09-3004078627ns5:ComputerEquipment2018-09-3004078627ns5:MotorVehicles2017-09-3004078627ns5:ComputerEquipment2017-09-3004078627ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2017-09-3004078627ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2018-09-3004078627ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2017-10-012018-09-3004078627ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2017-09-3004078627ns5:CurrentFinancialInstrumentsns5:WithinOneYear2018-09-3004078627ns5:CurrentFinancialInstrumentsns5:WithinOneYear2017-09-3004078627ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2018-09-3004078627ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2017-09-3004078627ns5:BetweenTwoFiveYearsns5:Non-currentFinancialInstruments2018-09-3004078627ns5:BetweenTwoFiveYearsns5:Non-currentFinancialInstruments2017-09-3004078627ns5:Secured2018-09-3004078627ns5:Secured2017-09-30


REGISTERED NUMBER: 04078627 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH SEPTEMBER 2018

FOR

PENDLE ENGINEERING LIMITED

PENDLE ENGINEERING LIMITED (REGISTERED NUMBER: 04078627)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2018










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PENDLE ENGINEERING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH SEPTEMBER 2018







DIRECTORS: S R Smith
A Hargreaves
C Smith





SECRETARY: C Smith





REGISTERED OFFICE: Unit 6
Pendle Industrial Estate
Southfield Street
Nelson
Lancashire
BB9 0LD





REGISTERED NUMBER: 04078627 (England and Wales)





ACCOUNTANTS: Ainsworths Limited
Chartered Accountants
Charter House
Stansfield Street
Nelson
Lancashire
BB9 9XY

PENDLE ENGINEERING LIMITED (REGISTERED NUMBER: 04078627)

BALANCE SHEET
30TH SEPTEMBER 2018

30.9.18 30.9.17
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,192,683 540,185
1,192,683 540,185

CURRENT ASSETS
Stocks 254,216 206,171
Debtors 6 956,645 737,579
Cash at bank and in hand 507,796 373,954
1,718,657 1,317,704
CREDITORS
Amounts falling due within one year 7 1,086,872 828,738
NET CURRENT ASSETS 631,785 488,966
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,824,468

1,029,151

CREDITORS
Amounts falling due after more than one
year

8

(699,841

)

(116,901

)

PROVISIONS FOR LIABILITIES (39,598 ) (33,299 )

ACCRUALS AND DEFERRED INCOME (6,000 ) (8,000 )
NET ASSETS 1,079,029 870,951

CAPITAL AND RESERVES
Called up share capital 15 15
Retained earnings 1,079,014 870,936
SHAREHOLDERS' FUNDS 1,079,029 870,951

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th September 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 2018 in accordance with Section 476 of the Companies Act 2006.

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.

PENDLE ENGINEERING LIMITED (REGISTERED NUMBER: 04078627)

BALANCE SHEET - continued
30TH SEPTEMBER 2018


The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 on 13th November 2018 and were signed on its behalf
by:





C Smith - Director


PENDLE ENGINEERING LIMITED (REGISTERED NUMBER: 04078627)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2018


1. STATUTORY INFORMATION

Pendle Engineering Limited is a private company, limited by shares , registered in England and Wales. 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost
less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Intangible fixed assets
Acquired brands which could be sold separately from the rest of the business are capitalised and amortised over
their useful economic lives of 3 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 2% on cost
Plant and machinery - 15% on cost
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33.33% on cost

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.


PENDLE ENGINEERING LIMITED (REGISTERED NUMBER: 04078627)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2018


2. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the
balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at
the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held
under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases
are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element
of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the
lease.

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.

Grants
Grants in respect of capital expenditure are credited to a deferred income account and are released to the Profit
and Loss Account by equal annual instalments over the expected useful lives of the relevant assets.

PENDLE ENGINEERING LIMITED (REGISTERED NUMBER: 04078627)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2018


2. ACCOUNTING POLICIES - continued

Employer-financed retirement benefit scheme (efrbs)
The company has established trusts for the benefit of employees and persons
connected with them. Monies held in these trusts are held by independent trustees
and managed at their discretion. The trustees are empowered to provide both
retirement and other employee benefits.


Where the company retains future economic benefit from, and has de facto control
of the assets and liabilities of the trust, they are accounted for as assets and
liabilities of the company until the earlier of the date that an allocation of trust funds
to employees in respect of past services is declared and the date that assets of the
trust vest in identified individuals.

Where monies held in a trust are determined by the company on the basis of
employees’ past services to the business and the company can obtain no future
economic benefit from those monies, such monies, whether in the trust or accrued
for by the company are charged to the profit and loss account in the period to which
they relate.

Where monies held in a trust are determined by the company on the basis of
employees’ past services to the business and are payable after completion of the
employment, such monies are charged to the profit and loss account in the period
during which services are rendered by employees.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 68 (2017 - 65 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1st October 2017
and 30th September 2018 5,000
AMORTISATION
At 1st October 2017
and 30th September 2018 5,000
NET BOOK VALUE
At 30th September 2018 -
At 30th September 2017 -

PENDLE ENGINEERING LIMITED (REGISTERED NUMBER: 04078627)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2018


5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1st October 2017 300,631 2,235,928 18,949
Additions 647,743 55,608 -
At 30th September 2018 948,374 2,291,536 18,949
DEPRECIATION
At 1st October 2017 30,065 2,003,070 18,167
Charge for year 11,411 52,585 196
At 30th September 2018 41,476 2,055,655 18,363
NET BOOK VALUE
At 30th September 2018 906,898 235,881 586
At 30th September 2017 270,566 232,858 782

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1st October 2017 43,700 60,354 2,659,562
Additions - 20,370 723,721
At 30th September 2018 43,700 80,724 3,383,283
DEPRECIATION
At 1st October 2017 28,234 39,841 2,119,377
Charge for year 3,867 3,164 71,223
At 30th September 2018 32,101 43,005 2,190,600
NET BOOK VALUE
At 30th September 2018 11,599 37,719 1,192,683
At 30th September 2017 15,466 20,513 540,185

PENDLE ENGINEERING LIMITED (REGISTERED NUMBER: 04078627)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2018


5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1st October 2017 197,525
Transfer to ownership (33,525 )
At 30th September 2018 164,000
DEPRECIATION
At 1st October 2017 41,537
Charge for year 24,601
Transfer to ownership (13,411 )
At 30th September 2018 52,727
NET BOOK VALUE
At 30th September 2018 111,273
At 30th September 2017 155,988

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.18 30.9.17
£    £   
Trade debtors 944,315 721,442
Other debtors 8,573 9,406
EFRBS asset 80 80
Prepayments 3,677 6,651
956,645 737,579

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.18 30.9.17
£    £   
Bank loans and overdrafts 22,861 39,600
Hire purchase contracts 39,771 43,240
Trade creditors 812,251 524,303
Tax 79,901 42,531
Social security and other taxes 34,329 28,662
VAT 85,005 115,591
Other creditors 204 14,204
Directors' current accounts 1,264 1,264
Accrued expenses 11,286 19,343
1,086,872 828,738

PENDLE ENGINEERING LIMITED (REGISTERED NUMBER: 04078627)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2018


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.18 30.9.17
£    £   
Bank loans - 1-2 years 22,861 39,600
Bank loans - 2-5 years 659,658 20,208
Hire purchase contracts 17,322 57,093
699,841 116,901

9. SECURED DEBTS

The following secured debts are included within creditors:

30.9.18 30.9.17
£    £   
Bank loans 705,380 99,408
Hire purchase contracts 57,093 100,333
762,473 199,741