IRIS Accounts Production v23.2.0.158 07225928 director 1.7.22 30.6.23 30.6.23 0 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh072259282022-06-30072259282023-06-30072259282022-07-012023-06-30072259282021-06-30072259282021-07-012022-06-30072259282022-06-3007225928ns10:Originalns15:EnglandWales2022-07-012023-06-3007225928ns14:PoundSterlingns10:Original2022-07-012023-06-3007225928ns10:Originalns10:Director12022-07-012023-06-3007225928ns10:Original2022-07-012023-06-3007225928ns10:Original2023-06-3007225928ns10:Originalns10:PrivateLimitedCompanyLtd2022-07-012023-06-3007225928ns10:Originalns10:SmallEntities2022-07-012023-06-3007225928ns10:Originalns10:AuditExempt-NoAccountantsReport2022-07-012023-06-3007225928ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-07-012023-06-3007225928ns10:SmallCompaniesRegimeForAccountsns10:Original2022-07-012023-06-3007225928ns10:Originalns10:FullAccounts2022-07-012023-06-3007225928ns10:Original12022-07-012023-06-3007225928ns10:Originalns10:RegisteredOffice2022-07-012023-06-3007225928ns10:Original2022-06-3007225928ns10:Originalns5:CurrentFinancialInstruments2023-06-3007225928ns10:Originalns5:CurrentFinancialInstruments2022-06-3007225928ns10:Originalns5:Non-currentFinancialInstruments2023-06-3007225928ns10:Originalns5:Non-currentFinancialInstruments2022-06-3007225928ns5:ShareCapitalns10:Original2023-06-3007225928ns5:ShareCapitalns10:Original2022-06-3007225928ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-06-3007225928ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-06-3007225928ns10:Originalns5:NetGoodwill2022-07-012023-06-3007225928ns5:IntangibleAssetsOtherThanGoodwillns10:Original2022-07-012023-06-3007225928ns10:Originalns5:PlantMachinery2022-07-012023-06-3007225928ns10:Original2021-07-012022-06-3007225928ns10:Originalns5:NetGoodwill2022-06-3007225928ns10:Originalns5:NetGoodwill2023-06-3007225928ns10:Originalns5:NetGoodwill2022-06-3007225928ns10:Originalns5:PlantMachinery2022-06-3007225928ns10:Originalns5:PlantMachinery2023-06-3007225928ns10:Originalns5:PlantMachinery2022-06-3007225928ns10:Originalns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2022-06-3007225928ns10:Originalns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2022-07-012023-06-3007225928ns10:Originalns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-06-3007225928ns10:Originalns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2022-06-3007225928ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-06-3007225928ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-06-30
REGISTERED NUMBER: 07225928 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023

FOR

P & I FABRICATIONS LIMITED

P & I FABRICATIONS LIMITED (REGISTERED NUMBER: 07225928)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


P & I FABRICATIONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTOR: P Hancock





REGISTERED OFFICE: Rheidol
111 Oaklands Road
Bridgend
Mid Glamorgan
CF31 4SU





REGISTERED NUMBER: 07225928 (England and Wales)





ACCOUNTANTS: DAVID WRIGHT ACCOUNTANTS LIMITED
Unit 10
Bridgend Business Park
Bennett Street
Bridgend
South Wales
CF31 3SH

P & I FABRICATIONS LIMITED (REGISTERED NUMBER: 07225928)

BALANCE SHEET
30 JUNE 2023

30/6/23 30/6/22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 18,798 16,003
18,798 16,003

CURRENT ASSETS
Debtors 6 23,658 20,683
Cash at bank 156,914 124,671
180,572 145,354
CREDITORS
Amounts falling due within one year 7 20,339 21,079
NET CURRENT ASSETS 160,233 124,275
TOTAL ASSETS LESS CURRENT
LIABILITIES

179,031

140,278

CREDITORS
Amounts falling due after more than one year 8 - (838 )

PROVISIONS FOR LIABILITIES (3,572 ) (3,041 )
NET ASSETS 175,459 136,399

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 175,359 136,299
SHAREHOLDERS' FUNDS 175,459 136,399

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

P & I FABRICATIONS LIMITED (REGISTERED NUMBER: 07225928)

BALANCE SHEET - continued
30 JUNE 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 October 2023 and were signed by:





P Hancock - Director


P & I FABRICATIONS LIMITED (REGISTERED NUMBER: 07225928)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023


1. STATUTORY INFORMATION

P & I Fabrications 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
The company operates the Flat Rate Scheme for VAT purposes. Turnover shown in the Profit and Loss Account excludes VAT charged at the appropriate Flat Rate Scheme percentage.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of ten years.

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.

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.
Plant and machinery etc - 33% on cost and 25% on reducing balance

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.

P & I FABRICATIONS LIMITED (REGISTERED NUMBER: 07225928)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - 1 ).

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2022
and 30 June 2023 24,000
AMORTISATION
At 1 July 2022
and 30 June 2023 24,000
NET BOOK VALUE
At 30 June 2023 -
At 30 June 2022 -

P & I FABRICATIONS LIMITED (REGISTERED NUMBER: 07225928)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2022 32,445
Additions 7,533
At 30 June 2023 39,978
DEPRECIATION
At 1 July 2022 16,442
Charge for year 4,738
At 30 June 2023 21,180
NET BOOK VALUE
At 30 June 2023 18,798
At 30 June 2022 16,003

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 July 2022
and 30 June 2023 25,100
DEPRECIATION
At 1 July 2022 14,217
Charge for year 2,721
At 30 June 2023 16,938
NET BOOK VALUE
At 30 June 2023 8,162
At 30 June 2022 10,883

P & I FABRICATIONS LIMITED (REGISTERED NUMBER: 07225928)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/6/23 30/6/22
£    £   
Trade debtors 15,460 11,758
Other debtors 8,198 8,925
23,658 20,683

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/6/23 30/6/22
£    £   
Hire purchase contracts 838 3,350
Trade creditors 2,609 1,399
Taxation and social security 15,871 12,016
Other creditors 1,021 4,314
20,339 21,079

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30/6/23 30/6/22
£    £   
Hire purchase contracts - 838