IRIS Accounts Production v23.3.0.418 03138731 director 1.1.22 31.1.23 31.1.23 the retail sale of car spares and accessories true false true true false false true true true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure031387312021-12-31031387312023-01-31031387312022-01-012023-01-31031387312020-12-31031387312021-01-012021-12-31031387312021-12-3103138731ns16:EnglandWales2022-01-012023-01-3103138731ns15:PoundSterling2022-01-012023-01-3103138731ns11:Director12022-01-012023-01-3103138731ns11:PrivateLimitedCompanyLtd2022-01-012023-01-3103138731ns11:FRS1022022-01-012023-01-3103138731ns11:Audited2022-01-012023-01-3103138731ns11:LargeMedium-sizedCompaniesRegimeForDirectorsReport2022-01-012023-01-3103138731ns11:LargeMedium-sizedCompaniesRegimeForAccounts2022-01-012023-01-3103138731ns11:FullAccounts2022-01-012023-01-3103138731ns11:OrdinaryShareClass12022-01-012023-01-3103138731ns11:RegisteredOffice2022-01-012023-01-3103138731ns11:Director22022-01-012023-01-3103138731ns6:CurrentFinancialInstruments2023-01-3103138731ns6:CurrentFinancialInstruments2021-12-3103138731ns6:Non-currentFinancialInstruments2023-01-3103138731ns6:Non-currentFinancialInstruments2021-12-3103138731ns6:ShareCapital2023-01-3103138731ns6:ShareCapital2021-12-3103138731ns6:SharePremium2023-01-3103138731ns6:SharePremium2021-12-3103138731ns6:RetainedEarningsAccumulatedLosses2023-01-3103138731ns6:RetainedEarningsAccumulatedLosses2021-12-3103138731ns6:ShareCapital2020-12-3103138731ns6:RetainedEarningsAccumulatedLosses2020-12-3103138731ns6:SharePremium2020-12-3103138731ns6:ShareCapital2021-01-012021-12-3103138731ns6:SharePremium2021-01-012021-12-3103138731ns6:RetainedEarningsAccumulatedLosses2021-01-012021-12-3103138731ns6:RetainedEarningsAccumulatedLosses2022-01-012023-01-3103138731ns6:OwnedOrFreeholdAssetsns6:LandBuildings2022-01-012023-01-3103138731ns6:PlantMachinery2022-01-012023-01-3103138731ns6:FurnitureFittings2022-01-012023-01-3103138731ns6:MotorVehicles2022-01-012023-01-3103138731ns6:OwnedAssets2022-01-012023-01-3103138731ns6:OwnedAssets2021-01-012021-12-3103138731112022-01-012023-01-3103138731112021-01-012021-12-3103138731122022-01-012023-01-3103138731122021-01-012021-12-3103138731ns11:OrdinaryShareClass12021-01-012021-12-3103138731ns6:LandBuildings2021-12-3103138731ns6:PlantMachinery2021-12-3103138731ns6:FurnitureFittings2021-12-3103138731ns6:MotorVehicles2021-12-3103138731ns6:LandBuildings2022-01-012023-01-3103138731ns6:LandBuildings2023-01-3103138731ns6:PlantMachinery2023-01-3103138731ns6:FurnitureFittings2023-01-3103138731ns6:MotorVehicles2023-01-3103138731ns6:LandBuildings2021-12-3103138731ns6:PlantMachinery2021-12-3103138731ns6:FurnitureFittings2021-12-3103138731ns6:MotorVehicles2021-12-3103138731ns6:WithinOneYearns6:CurrentFinancialInstruments2023-01-3103138731ns6:WithinOneYearns6:CurrentFinancialInstruments2021-12-3103138731ns6:BetweenOneTwoYearsns6:Non-currentFinancialInstruments2023-01-3103138731ns6:BetweenOneTwoYearsns6:Non-currentFinancialInstruments2021-12-3103138731ns6:DeferredTaxation2021-12-3103138731ns6:DeferredTaxation2022-01-012023-01-3103138731ns6:DeferredTaxation2023-01-3103138731ns11:OrdinaryShareClass12023-01-3103138731ns6:RetainedEarningsAccumulatedLosses2021-12-3103138731ns6:SharePremium2021-12-31
REGISTERED NUMBER: 03138731 (England and Wales)










STRATEGIC REPORT,

REPORT OF THE DIRECTOR AND

FINANCIAL STATEMENTS

FOR THE PERIOD

1 JANUARY 2022 TO 31 JANUARY 2023

FOR

P P K FACTORS LIMITED

P P K FACTORS LIMITED (REGISTERED NUMBER: 03138731)






CONTENTS OF THE FINANCIAL STATEMENTS
for the period 1 January 2022 to 31 January 2023




Page

Company Information 1

Strategic Report 2

Report of the Director 3

Report of the Independent Auditors 5

Statement of Comprehensive Income 8

Balance Sheet 9

Statement of Changes in Equity 10

Notes to the Financial Statements 11


P P K FACTORS LIMITED

COMPANY INFORMATION
for the period 1 January 2022 to 31 January 2023







DIRECTOR: R J Shortis



REGISTERED OFFICE: 186-200 Salhouse Road
Norwich
NR7 9AH



REGISTERED NUMBER: 03138731 (England and Wales)



AUDITORS: Sexty & Co
Chartered Certified Accountants
& Statutory Auditor
124 Thorpe Road
Norwich
Norfolk
NR1 1RS



SOLICITORS: Howes Percival
Flint Buildings
1 Bedding Lane
Norwich
Norfolk
NR3 1RG

P P K FACTORS LIMITED (REGISTERED NUMBER: 03138731)

STRATEGIC REPORT
for the period 1 January 2022 to 31 January 2023

The director presents his strategic report for the period 1 January 2022 to 31 January 2023.

CHAIRMAN'S REPORT
PPK Factors Limited, together with its parent company E U Limited and fellow subsidiary Linco Plc had a combined turnover of over £21.2m, pre-tax profits of over £1.4m and net assets of over £11.2m.

The combined companies distribute car parts through 26 branches in a very competitive market place.

A comprehensive business review is available in the consolidated group financial statements of K J Shortis Limited.

During the financial year the trading assets moved into the parent company of EU Ltd.

FINANCIAL KEY PERFORMANCE INDICATORS
The directors consider that the key financial performance indicators are those that communicate the financial performance and strength of the Company as a whole, these being turnover, gross margin and return on capital employed.

31 January 2023 31 December 2021
£ £

Turnover 416,699 944,002
Gross margin 33.6% 42.7%
Return on capital employed 9.2% 68.2%

ON BEHALF OF THE BOARD:





R J Shortis - Director


19 October 2023

P P K FACTORS LIMITED (REGISTERED NUMBER: 03138731)

REPORT OF THE DIRECTOR
for the period 1 January 2022 to 31 January 2023

The director presents his report with the financial statements of the company for the period 1 January 2022 to 31 January 2023.

DIVIDENDS
An interim dividend of £14,355 was paid by the predecessor director. The successor director recommends that no final dividend be paid.

DIRECTORS
The directors who have held office during the period from 1 January 2022 to the date of this report are as follows:

R J Shortis - appointed 13 April 2022
R E J Parry - resigned 13 April 2022

ENGAGEMENT WITH SUPPLIERS, CUSTOMERS AND OTHERS
The directors have regarded the need to foster the Company's business relationships with suppliers, customers and others. We have built and maintained long standing business relationships with our suppliers and customers. We continue to consider the needs our suppliers, customers and others with regards to the principle business decisions made throughout the year.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-state whether applicable accounting standards have been followed, subject to any material departures
disclosed and explained in the financial statements;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

P P K FACTORS LIMITED (REGISTERED NUMBER: 03138731)

REPORT OF THE DIRECTOR
for the period 1 January 2022 to 31 January 2023


AUDITORS
The auditors, Sexty & Co, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:



R J Shortis - Director


19 October 2023

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
P P K FACTORS LIMITED

Opinion
We have audited the financial statements of P P K Factors Limited (the 'company') for the period ended 31 January 2023 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 January 2023 and of its profit for the period then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information
The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
P P K FACTORS LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Director.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of director's remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of director
As explained more fully in the Statement of Director's Responsibilities set out on page three, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We have made enquiries with management regarding their procedures for complying with laws and regulations along with detecting and prevent fraud. We also review minutes of meetings and any published news articles to identify any instances of non-compliance with and regulations.

Evidence has been obtained where applicable. Written representation has been obtained to confirm there have been no breaches of laws and regulations.

The audit procedures are designed so that with reasonable assurance, material misstatements can be detected, including those relating to fraud. Specifically, areas which involve provisions or estimations have been tested where material.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
P P K FACTORS LIMITED


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




I A Barlow (Senior Statutory Auditor)
for and on behalf of Sexty & Co
Chartered Certified Accountants
& Statutory Auditor
124 Thorpe Road
Norwich
Norfolk
NR1 1RS

19 October 2023

P P K FACTORS LIMITED (REGISTERED NUMBER: 03138731)

STATEMENT OF COMPREHENSIVE
INCOME
for the period 1 January 2022 to 31 January 2023

Period
1.1.22
to Year ended
31.1.23 31.12.21
Notes £    £   

TURNOVER 416,699 944,002

Cost of sales 276,861 540,558
GROSS PROFIT 139,838 403,444

Administrative expenses 111,275 185,687
28,563 217,757

Other operating income 3,047 7,559
OPERATING PROFIT 4 31,610 225,316

Interest receivable and similar income - 6
31,610 225,322

Interest payable and similar expenses 6 625 3,794
PROFIT BEFORE TAXATION 30,985 221,528

Tax on profit 7 2,934 42,968
PROFIT FOR THE FINANCIAL PERIOD 28,051 178,560

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE PERIOD

28,051

178,560

P P K FACTORS LIMITED (REGISTERED NUMBER: 03138731)

BALANCE SHEET
31 January 2023

2023 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 9 - 232,607

CURRENT ASSETS
Stocks 10 - 78,485
Debtors 11 360,290 119,175
Cash at bank - 231,868
360,290 429,528
CREDITORS
Amounts falling due within one year 12 16,000 196,160
NET CURRENT ASSETS 344,290 233,368
TOTAL ASSETS LESS CURRENT
LIABILITIES

344,290

465,975

CREDITORS
Amounts falling due after more than one
year

13

-

(122,315

)

PROVISIONS FOR LIABILITIES 15 - (13,066 )
NET ASSETS 344,290 330,594

CAPITAL AND RESERVES
Called up share capital 16 12,500 12,500
Share premium 17 2,500 2,500
Retained earnings 17 329,290 315,594
SHAREHOLDERS' FUNDS 344,290 330,594

The financial statements were approved by the director and authorised for issue on 19 October 2023 and were signed by:





R J Shortis - Director


P P K FACTORS LIMITED (REGISTERED NUMBER: 03138731)

STATEMENT OF CHANGES IN EQUITY
for the period 1 January 2022 to 31 January 2023

Called up
share Retained Share Total
capital earnings premium equity
£    £    £    £   

Balance at 1 January 2021 - 204,448 2,500 206,948

Changes in equity
Issue of share capital 12,500 - - 12,500
Dividends - (67,414 ) - (67,414 )
Total comprehensive income - 178,560 - 178,560
Balance at 31 December 2021 12,500 315,594 2,500 330,594

Changes in equity
Dividends - (14,355 ) - (14,355 )
Total comprehensive income - 28,051 - 28,051
Balance at 31 January 2023 12,500 329,290 2,500 344,290

P P K FACTORS LIMITED (REGISTERED NUMBER: 03138731)

NOTES TO THE FINANCIAL STATEMENTS
for the period 1 January 2022 to 31 January 2023

1. STATUTORY INFORMATION

P P K Factors 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.

The reporting period covered by the financial statements is 1 January 2022 to 31 January 2022. The reporting period was changed to bring it in line with other related companies for ease of reporting. This means that the comparatives are not entirely comparable.

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are presented in pounds sterling and are rounded to the nearest pound.

Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows;
the requirement of paragraph 3.17(d);
the requirement of paragraph 33.7.

This information is included in the consolidated financial statements of K.J. Shortis Limited as at 31 January 2023 and these financial statements may be obtained from Companies House.

Related party transactions

The company has taken the disclosure exemption available as permitted by FRS 102 section 33.1A not to disclose transactions with group member companies which are also wholly owned subsidiaries within the same group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

The turnover figure shown in the statement of comprehensive income relates wholly to sale of goods.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 10% on cost
Plant and machinery - 15% on cost
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on cost

Stocks
Stocks are stated at the lower of cost and net realisable value using the average cost method, after making due allowance for obsolete and slow moving items.

Cost comprises the average cost of all purchases.

To reflect market conditions and in accordance with good accounting practice, all rebates have been taken into account.

P P K FACTORS LIMITED (REGISTERED NUMBER: 03138731)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the period 1 January 2022 to 31 January 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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.


P P K FACTORS LIMITED (REGISTERED NUMBER: 03138731)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the period 1 January 2022 to 31 January 2023

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 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.

Pension costs and other post-retirement benefits
The company operates a money purchase scheme. Contributions payable are charged in the profit and loss account.

3. EMPLOYEES AND DIRECTORS
Period
1.1.22
to Year ended
31.1.23 31.12.21
£    £   
Wages and salaries 41,653 100,328
Social security costs 3,267 1,601
Other pension costs 1,015 3,070
45,935 104,999

The average number of employees during the period was as follows:
Period
1.1.22
to Year ended
31.1.23 31.12.21

Sales and administration 2 6

Period
1.1.22
to Year ended
31.1.23 31.12.21
£    £   
Directors' remuneration 2,393 9,651
Directors' pension contributions to money purchase schemes 309 1,234

P P K FACTORS LIMITED (REGISTERED NUMBER: 03138731)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the period 1 January 2022 to 31 January 2023

4. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

Period
1.1.22
to Year ended
31.1.23 31.12.21
£    £   
Depreciation - owned assets 5,627 25,938
Loss/(profit) on disposal of fixed assets 29,898 (3,694 )
Operating leases - land and buildings 4,875 11,700
Rents received 2,500 5,500

5. AUDITORS' REMUNERATION
Period
1.1.22
to Year ended
31.1.23 31.12.21
£    £   
Fees payable to the company's auditors and their associates for the
audit of the company's financial statements

3,000

-

6. INTEREST PAYABLE AND SIMILAR EXPENSES
Period
1.1.22
to Year ended
31.1.23 31.12.21
£    £   
Bank interest 625 3,794

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the period was as follows:
Period
1.1.22
to Year ended
31.1.23 31.12.21
£    £   
Current tax:
UK corporation tax 16,000 40,300

Deferred tax (13,066 ) 2,668
Tax on profit 2,934 42,968

P P K FACTORS LIMITED (REGISTERED NUMBER: 03138731)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the period 1 January 2022 to 31 January 2023

7. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the period is lower than the standard rate of corporation tax in the UK. The difference is explained below:

Period
1.1.22
to Year ended
31.1.23 31.12.21
£    £   
Profit before tax 30,985 221,528
Profit multiplied by the standard rate of corporation tax in the UK of
19% (2021 - 19%)

5,887

42,090

Effects of:
Expenses not deductible for tax purposes - 21
Capital allowances in excess of depreciation - (1,081 )
Depreciation in excess of capital allowances 4,464 -
Loss on disposal of assets 5,681 (710 )
Provision rounding (32 ) (20 )
Deferred tax movement (13,066 ) 2,668
Total tax charge 2,934 42,968

8. DIVIDENDS
Period
1.1.22
to Year ended
31.1.23 31.12.21
£    £   
Ordinary shares of 1 each
Interim 14,355 67,414

P P K FACTORS LIMITED (REGISTERED NUMBER: 03138731)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the period 1 January 2022 to 31 January 2023

9. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 January 2022 183,767 414 17,971 88,493 290,645
Disposals - - - (69,856 ) (69,856 )
Transfer to parent (183,767 ) (414 ) (17,971 ) (18,637 ) (220,789 )
At 31 January 2023 - - - - -
DEPRECIATION
At 1 January 2022 17,450 41 11,944 28,603 58,038
Charge for period - 19 345 5,263 5,627
Eliminated on disposal - - - (22,092 ) (22,092 )
Transfer to parent (17,450 ) (60 ) (12,289 ) (11,774 ) (41,573 )
At 31 January 2023 - - - - -
NET BOOK VALUE
At 31 January 2023 - - - - -
At 31 December 2021 166,317 373 6,027 59,890 232,607

10. STOCKS
2023 2021
£    £   
Finished goods - 78,485

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2021
£    £   
Trade debtors - 106,932
Other debtors - 12,243
Amount owed by group companies 360,290 -
360,290 119,175

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2021
£    £   
Bank loans and overdrafts (see note 14) - 8,200
Trade creditors - 123,372
Tax 16,000 40,300
Social security and other taxes - 17,670
Other creditors - 6,618
16,000 196,160

13. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2021
£    £   
Bank loans (see note 14) - 122,315

P P K FACTORS LIMITED (REGISTERED NUMBER: 03138731)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the period 1 January 2022 to 31 January 2023

14. LOANS

An analysis of the maturity of loans is given below:

2023 2021
£    £   
Amounts falling due within one year or on demand:
Bank loans - 8,200

Amounts falling due between one and two years:
Bank loans - 1-2 years - 122,315

15. PROVISIONS FOR LIABILITIES
2023 2021
£    £   
Deferred tax - 13,066

Deferred
tax
£   
Balance at 1 January 2022 13,066
Provided during period (13,066 )
Balance at 31 January 2023 -

16. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2021
value: £    £   
12,500 Ordinary 1 12,500 12,500

17. RESERVES
Retained Share
earnings premium Totals
£    £    £   

At 1 January 2022 315,594 2,500 318,094
Profit for the period 28,051 28,051
Dividends (14,355 ) (14,355 )
At 31 January 2023 329,290 2,500 331,790

18. ULTIMATE PARENT COMPANY

The ultimate parent company is K J Shortis Limited. The direct parent company is E U Limited, a wholly owned subsidiary of K J Shortis Limited. Both K J Shortis Limited and E U Limited have the same registered office address of 186 Salhouse Road, Norwich, NR7 9AH.