Caseware UK (AP4) 2022.0.179 2022.0.179 2023-01-312023-01-31122022-02-01falseNo description of principal activity13truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 05009611 2022-02-01 2023-01-31 05009611 2021-02-01 2022-01-31 05009611 2023-01-31 05009611 2022-01-31 05009611 2021-02-01 05009611 c:Director1 2022-02-01 2023-01-31 05009611 d:PlantMachinery 2022-02-01 2023-01-31 05009611 d:PlantMachinery 2023-01-31 05009611 d:PlantMachinery 2022-01-31 05009611 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 05009611 d:MotorVehicles 2022-02-01 2023-01-31 05009611 d:MotorVehicles 2023-01-31 05009611 d:MotorVehicles 2022-01-31 05009611 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 05009611 d:OfficeEquipment 2022-02-01 2023-01-31 05009611 d:OfficeEquipment 2023-01-31 05009611 d:OfficeEquipment 2022-01-31 05009611 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 05009611 d:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 05009611 d:CurrentFinancialInstruments 2023-01-31 05009611 d:CurrentFinancialInstruments 2022-01-31 05009611 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 05009611 d:CurrentFinancialInstruments d:WithinOneYear 2022-01-31 05009611 d:ShareCapital 2023-01-31 05009611 d:ShareCapital 2022-01-31 05009611 d:RevaluationReserve 2023-01-31 05009611 d:RevaluationReserve 2022-01-31 05009611 d:RetainedEarningsAccumulatedLosses 2023-01-31 05009611 d:RetainedEarningsAccumulatedLosses 2022-01-31 05009611 c:FRS102 2022-02-01 2023-01-31 05009611 c:AuditExempt-NoAccountantsReport 2022-02-01 2023-01-31 05009611 c:FullAccounts 2022-02-01 2023-01-31 05009611 c:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 05009611 2 2022-02-01 2023-01-31 05009611 5 2022-02-01 2023-01-31 05009611 6 2022-02-01 2023-01-31 05009611 7 2022-02-01 2023-01-31 05009611 d:OtherDeferredTax 2023-01-31 05009611 d:OtherDeferredTax 2022-01-31 iso4217:GBP xbrli:pure

Registered number: 05009611









P.F.E. SITE SERVICES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2023

 
P.F.E. SITE SERVICES LIMITED
REGISTERED NUMBER: 05009611

BALANCE SHEET
AS AT 31 JANUARY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
203,914
232,984

Investments
 5 
189,494
189,795

  
393,408
422,779

Current assets
  

Stocks
 6 
34,440
32,040

Debtors: amounts falling due within one year
 7 
984,804
638,155

Cash at bank and in hand
 8 
455,711
623,832

  
1,474,955
1,294,027

Creditors: amounts falling due within one year
 9 
(152,863)
(142,757)

Net current assets
  
 
 
1,322,092
 
 
1,151,270

Total assets less current liabilities
  
1,715,500
1,574,049

Provisions for liabilities
  

Deferred tax
 10 
(36,671)
(36,728)

  
 
 
(36,671)
 
 
(36,728)

Net assets
  
1,678,829
1,537,321


Capital and reserves
  

Called up share capital 
  
101
101

Revaluation reserve
  
34,022
34,266

Profit and loss account
  
1,644,706
1,502,954

  
1,678,829
1,537,321


Page 1

 
P.F.E. SITE SERVICES LIMITED
REGISTERED NUMBER: 05009611
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 24 August 2023.




T J Cook
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
P.F.E. SITE SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

1.


General information

P.F.E. Site Services Limited is a private company, limited by shares and incorporated in England and Wales, United Kingdom, with a registration number 05009611. The address of the registered office is Haslers, Old Station Road, Loughton, Essex, IG10 4PL. The principal activity of the company continued to be that of engineering services.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
P.F.E. SITE SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 4

 
P.F.E. SITE SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
25% per annum
Motor vehicles
-
25% per annum
Office equipment
-
25% per annum

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.8

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Page 5

 
P.F.E. SITE SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.10

Debtors

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.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term 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.

 
2.13

Holiday pay accrual

A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the balance sheet date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the balance sheet date.

 
2.14

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance Sheet.

Page 6

 
P.F.E. SITE SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)

 
2.15

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.16

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 13 (2022 - 12).


4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 February 2022
257,044
421,971
46,222
725,237


Additions
-
24,475
10,895
35,370


Disposals
-
(35,020)
-
(35,020)



At 31 January 2023

257,044
411,426
57,117
725,587



Depreciation


At 1 February 2022
207,715
245,690
38,848
492,253


Charge for the year on owned assets
12,332
32,550
2,988
47,870


Disposals
-
(18,450)
-
(18,450)



At 31 January 2023

220,047
259,790
41,836
521,673



Net book value



At 31 January 2023
36,997
151,636
15,281
203,914



At 31 January 2022
49,329
176,281
7,374
232,984

Page 7

 
P.F.E. SITE SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

5.


Fixed asset investments





Unlisted investments

£



Cost or valuation


At 1 February 2022
189,795


Revaluations
(301)



At 31 January 2023
189,494





6.


Stocks

2023
2022
£
£

Raw materials and consumables
34,440
32,040

34,440
32,040



7.


Debtors

2023
2022
£
£


Trade debtors
886,484
578,048

Prepayments and accrued income
98,320
60,107

984,804
638,155



8.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
455,711
623,832

455,711
623,832


Page 8

 
P.F.E. SITE SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
71,527
74,132

Corporation tax
40,749
30

Other taxation and social security
25,612
55,323

Other creditors
3,431
4,810

Accruals and deferred income
11,544
8,462

152,863
142,757



10.


Deferred taxation




2023
2022


£

£






At beginning of year
(36,728)
(34,121)


Charged to profit or loss
57
(2,607)



At end of year
(36,671)
(36,728)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Fair value movements
(36,671)
(36,728)

(36,671)
(36,728)


11.


Pension commitments

The company operates a defined contributions pension scheme.  The assets of the scheme are held separately from those of the company in an independently administered fund.  The pension cost charge represents contributions payable by the company to the fund and amounted to £85,506 (2022: £85,029). Contributions totalling £1,537 (2022: £1,214) were payable to the fund at the year end.

Page 9

 
P.F.E. SITE SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

12.


Related party transactions

During the year transactions with the following related parties occurred:
During the year dividends were paid to key management personnel totalling 2023: £2,000 (2022: £Nil).
At the year-end the following amounts were due from/(to) the related parties:


2023
2022
£
£

T J Cook
646
646
646
646


13.


Controlling party

The ultimate controlling party is T J Cook, by virtue of her majority shareholding.

 
Page 10