IRIS Accounts Production v23.1.5.20 04404099 Board of Directors 1.1.22 31.12.22 31.12.22 29/9/2023 false true false false true false Auditors Opinion iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure044040992021-12-31044040992022-12-31044040992022-01-012022-12-31044040992021-03-31044040992021-04-012021-12-31044040992021-12-3104404099ns16:EnglandWales2022-01-012022-12-3104404099ns15:PoundSterling2022-01-012022-12-3104404099ns11:Director12022-01-012022-12-3104404099ns11:PrivateLimitedCompanyLtd2022-01-012022-12-3104404099ns11:SmallEntities2022-01-012022-12-3104404099ns11:Audited2022-01-012022-12-3104404099ns11:SmallCompaniesRegimeForDirectorsReport2022-01-012022-12-3104404099ns11:SmallCompaniesRegimeForAccounts2022-01-012022-12-3104404099ns11:FullAccounts2022-01-012022-12-3104404099ns11:Director22022-01-012022-12-3104404099ns11:Director32022-01-012022-12-3104404099ns11:RegisteredOffice2022-01-012022-12-3104404099ns6:CurrentFinancialInstruments2022-12-3104404099ns6:CurrentFinancialInstruments2021-12-3104404099ns6:Non-currentFinancialInstruments2022-12-3104404099ns6:Non-currentFinancialInstruments2021-12-3104404099ns6:ShareCapital2022-12-3104404099ns6:ShareCapital2021-12-3104404099ns6:RevaluationReserve2022-12-3104404099ns6:RevaluationReserve2021-12-3104404099ns6:RetainedEarningsAccumulatedLosses2022-12-3104404099ns6:RetainedEarningsAccumulatedLosses2021-12-3104404099ns6:PlantMachinery2022-01-012022-12-3104404099ns6:LandBuildings2021-12-3104404099ns6:PlantMachinery2021-12-3104404099ns6:LandBuildings2022-01-012022-12-3104404099ns6:LandBuildings2022-12-3104404099ns6:PlantMachinery2022-12-3104404099ns6:LandBuildings2021-12-3104404099ns6:PlantMachinery2021-12-3104404099ns6:WithinOneYearns6:CurrentFinancialInstruments2022-12-3104404099ns6:WithinOneYearns6:CurrentFinancialInstruments2021-12-3104404099ns6:Secured2022-12-3104404099ns6:Secured2021-12-3104404099ns6:RevaluationReserve2021-12-31
REGISTERED NUMBER: 04404099 (England and Wales)















Financial Statements for the Year Ended 31 December 2022

for

Pt Engineers Limited

Pt Engineers Limited (Registered number: 04404099)

Contents of the Financial Statements
for the year ended 31 December 2022










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Pt Engineers Limited

Company Information
for the year ended 31 December 2022







DIRECTORS: J L Frewin
E A Kolodner
T D Brooksbank





REGISTERED OFFICE: 38 Somers Road
Rugby
Warwickshire
CV22 7DH





REGISTERED NUMBER: 04404099 (England and Wales)





AUDITORS: Rusling & Co, Statutory Auditor
F6 The Bloc
Anlaby
East Yorkshire
HU10 6RJ

Pt Engineers Limited (Registered number: 04404099)

Balance Sheet
31 December 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 801,108 672,417

CURRENT ASSETS
Stocks 177,348 79,428
Debtors 5 1,703,742 1,603,741
Cash at bank and in hand 50,060 63,413
1,931,150 1,746,582
CREDITORS
Amounts falling due within one year 6 382,104 195,639
NET CURRENT ASSETS 1,549,046 1,550,943
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,350,154

2,223,360

CREDITORS
Amounts falling due after more than one
year

7

(599,166

)

(632,602

)

PROVISIONS FOR LIABILITIES (21,178 ) -
NET ASSETS 1,729,810 1,590,758

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 9 141,261 141,261
Retained earnings 1,588,449 1,449,397
1,729,810 1,590,758

The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 27 September 2023 and were signed on its behalf by:





T D Brooksbank - Director


Pt Engineers Limited (Registered number: 04404099)

Notes to the Financial Statements
for the year ended 31 December 2022


1. STATUTORY INFORMATION

Pt Engineers 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost, 25% on reducing balance and 20% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

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.

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.

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.

Pt Engineers Limited (Registered number: 04404099)

Notes to the Financial Statements - continued
for the year ended 31 December 2022


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2021 - 20 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2022 650,000 162,132 812,132
Additions 3,245 144,500 147,745
At 31 December 2022 653,245 306,632 959,877
DEPRECIATION
At 1 January 2022 - 139,715 139,715
Charge for year - 19,054 19,054
At 31 December 2022 - 158,769 158,769
NET BOOK VALUE
At 31 December 2022 653,245 147,863 801,108
At 31 December 2021 650,000 22,417 672,417

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 388,434 397,129
Amounts owed by group undertakings 1,303,592 1,190,940
Other debtors 11,716 15,672
1,703,742 1,603,741

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 80,951 71,500
Hire purchase contracts 64,492 36,960
Trade creditors 59,020 76,970
Amounts owed to group undertakings 231 -
Taxation and social security 21,917 75,915
Other creditors 155,493 (65,706 )
382,104 195,639

Pt Engineers Limited (Registered number: 04404099)

Notes to the Financial Statements - continued
for the year ended 31 December 2022


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£    £   
Bank loans 475,710 556,776
Hire purchase contracts 123,456 75,826
599,166 632,602

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 246,926 261,215

8. SECURED DEBTS

The following secured debts are included within creditors:

2022 2021
£    £   
Bank loans 556,661 628,276
Hire purchase contracts 187,948 112,786
744,609 741,062

9. RESERVES
Revaluation
reserve
£   
At 1 January 2022
and 31 December 2022 141,261

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Andrew Rusling FCA (Senior Statutory Auditor)
for and on behalf of Rusling & Co, Statutory Auditor

11. RELATED PARTY DISCLOSURES

At the period end the company was owed £333,493 and £970,099 (2021 - £333,493 and £857,447) by companies under common control. The loan were non-interest bearing and there is no formal terms of repayment.

At the period end the company owed £231 (2021 - nil) to a company under common control. The loan is non-interest bearing and there are no formal terms of repayment.