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REGISTERED NUMBER: 03786163 (England and Wales)



















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

PRESSFAB ENGINEERING LIMITED

PRESSFAB ENGINEERING LIMITED (REGISTERED NUMBER: 03786163)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PRESSFAB ENGINEERING LIMITED

COMPANY INFORMATION
for the Year Ended 31 MARCH 2023







DIRECTOR: Mr N L Colclough





REGISTERED OFFICE: 260 - 270
Butterfield
Great Marlings
Luton
Bedfordshire
LU2 8DL





BUSINESS ADDRESS: Unit 3
Commerce Way
Flitwick Industrial Estate
FLITWICK
Beds
MK45 5BG





REGISTERED NUMBER: 03786163 (England and Wales)





ACCOUNTANTS: Foxley Kingham
Chartered Accountants
260 - 270 Butterfield
Great Marlings
Luton
Bedfordshire
LU2 8DL

PRESSFAB ENGINEERING LIMITED (REGISTERED NUMBER: 03786163)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,087,678 1,082,084

CURRENT ASSETS
Stocks 25,000 25,000
Debtors 5 1,665,047 1,280,781
Cash at bank 1,048,326 755,548
2,738,373 2,061,329
CREDITORS
Amounts falling due within one year 6 193,854 259,989
NET CURRENT ASSETS 2,544,519 1,801,340
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,632,197

2,883,424

PROVISIONS FOR LIABILITIES 7 164,657 130,049
NET ASSETS 3,467,540 2,753,375

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 3,467,440 2,753,275
SHAREHOLDERS' FUNDS 3,467,540 2,753,375

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

PRESSFAB ENGINEERING LIMITED (REGISTERED NUMBER: 03786163)

BALANCE SHEET - continued
31 MARCH 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 October 2023 and were signed by:





Mr N L Colclough - Director


PRESSFAB ENGINEERING LIMITED (REGISTERED NUMBER: 03786163)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 MARCH 2023

1. STATUTORY INFORMATION

Pressfab 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.
Freehold property - 2% on reducing balance
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 33% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33.33% on cost

Investment property
Investment property was shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value were recognised in profit or loss.

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 Statement of Income and Retained Earnings, 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.

PRESSFAB ENGINEERING LIMITED (REGISTERED NUMBER: 03786163)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 MARCH 2023

2. ACCOUNTING POLICIES - continued

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.

Debtor
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Grant income
Grant income is recognised on the performance model. Where there are no future performance related conditions, income is recognised when the grants are received.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2022 - 29 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 April 2022 639,815 2,197,653 101,040
Additions - 1,290 26,609
At 31 March 2023 639,815 2,198,943 127,649
DEPRECIATION
At 1 April 2022 214,479 1,596,603 100,298
Charge for year 8,506 90,351 9,026
At 31 March 2023 222,985 1,686,954 109,324
NET BOOK VALUE
At 31 March 2023 416,830 511,989 18,325
At 31 March 2022 425,336 601,050 742

PRESSFAB ENGINEERING LIMITED (REGISTERED NUMBER: 03786163)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 MARCH 2023

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2022 84,350 79,614 3,102,472
Additions 139,043 2,855 169,797
At 31 March 2023 223,393 82,469 3,272,269
DEPRECIATION
At 1 April 2022 29,394 79,614 2,020,388
Charge for year 55,368 952 164,203
At 31 March 2023 84,762 80,566 2,184,591
NET BOOK VALUE
At 31 March 2023 138,631 1,903 1,087,678
At 31 March 2022 54,956 - 1,082,084

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 618,215 599,387
Other debtors 273,000 273,000
Flitwick Helicopters Loan 773,832 402,131
Prepayments and accrued income - 6,263
1,665,047 1,280,781

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 81,174 124,447
Taxation and social security 14,636 19,190
VAT 73,268 85,562
Other creditors 2,476 18,439
Directors' loan accounts 13,350 3,651
Accrued expenses 8,950 8,700
193,854 259,989

7. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 164,657 130,049

PRESSFAB ENGINEERING LIMITED (REGISTERED NUMBER: 03786163)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 MARCH 2023

7. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 April 2022 130,049
Provided during year 34,608
Balance at 31 March 2023 164,657