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REGISTERED NUMBER: 12259737 (England and Wales)

















Unaudited Financial Statements

for the Year Ended 31 October 2022

for

POWER MECHANICAL AUTOMATION LTD

POWER MECHANICAL AUTOMATION LTD (Registered number: 12259737)






Contents of the Financial Statements
for the Year Ended 31 October 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

POWER MECHANICAL AUTOMATION LTD

Company Information
for the Year Ended 31 October 2022







DIRECTOR: Mr P Moretti





REGISTERED OFFICE: Grove House
774 - 780 Wilmslow Road
Didsbury
Manchester
M20 2DR





REGISTERED NUMBER: 12259737 (England and Wales)





ACCOUNTANTS: Sterling Partners Limited
Chartered Accountants
Chartered Tax Advisors
2nd Floor, Grove House
774-780 Wilmslow Road
Didsbury
Manchester
Greater Manchester
M20 2DR

POWER MECHANICAL AUTOMATION LTD (Registered number: 12259737)

Balance Sheet
31 October 2022

2022 2021
Notes £    £   
FIXED ASSETS
Intangible assets 4 116 132
Tangible assets 5 61,469 48,000
61,585 48,132

CURRENT ASSETS
Stocks 99,783 71,658
Debtors 6 287,589 95,964
Cash at bank and in hand 115,072 173,819
502,444 341,441
CREDITORS
Amounts falling due within one year 7 (347,752 ) (226,041 )
NET CURRENT ASSETS 154,692 115,400
TOTAL ASSETS LESS CURRENT
LIABILITIES

216,277

163,532

CREDITORS
Amounts falling due after more than one
year

8

(30,382

)

(39,273

)

PROVISIONS FOR LIABILITIES (10,445 ) (8,752 )
NET ASSETS 175,450 115,507

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 175,250 115,307
175,450 115,507

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2022 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.

POWER MECHANICAL AUTOMATION LTD (Registered number: 12259737)

Balance Sheet - continued
31 October 2022


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 27 October 2023 and were signed by:





Mr P Moretti - Director


POWER MECHANICAL AUTOMATION LTD (Registered number: 12259737)

Notes to the Financial Statements
for the Year Ended 31 October 2022

1. STATUTORY INFORMATION

POWER MECHANICAL AUTOMATION LTD 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2019, 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.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

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 - at varying rates on cost
Computer equipment - 20% on cost

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


POWER MECHANICAL AUTOMATION LTD (Registered number: 12259737)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2022

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 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2021 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Patents
and
Goodwill licences Totals
£    £    £   
COST
At 1 November 2021
and 31 October 2022 6 142 148
AMORTISATION
At 1 November 2021 1 15 16
Amortisation for year 1 15 16
At 31 October 2022 2 30 32
NET BOOK VALUE
At 31 October 2022 4 112 116
At 31 October 2021 5 127 132

POWER MECHANICAL AUTOMATION LTD (Registered number: 12259737)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2022

5. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 November 2021 58,663 2,424 61,087
Additions 20,424 3,658 24,082
At 31 October 2022 79,087 6,082 85,169
DEPRECIATION
At 1 November 2021 12,602 485 13,087
Charge for year 9,630 983 10,613
At 31 October 2022 22,232 1,468 23,700
NET BOOK VALUE
At 31 October 2022 56,855 4,614 61,469
At 31 October 2021 46,061 1,939 48,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 196,031 54,268
Other debtors 40,163 14,849
Payment on account 2,536 679
Prepayments 24,213 11,073
Accrued income 24,646 15,095
287,589 95,964

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 8,870 10,000
Payments on account 25,125 5,739
Trade creditors 84,586 41,741
Amounts owed to group undertakings 50,146 50,146
Tax 43,328 25,471
Social security and other taxes 11,636 13,594
VAT 72,082 21,166
Pension liability 1,705 1,982
Directors' current accounts 218 2,272
Accrued expenses 27,113 8,287
Deferred income 22,943 45,643
347,752 226,041

POWER MECHANICAL AUTOMATION LTD (Registered number: 12259737)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2022

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£    £   
Bank loans - 1-2 years 8,870 10,000
Bank loans - 2-5 years 21,512 29,273
30,382 39,273

9. OTHER FINANCIAL COMMITMENTS

There are other financial commitments in the form of rent totalling £77,400.

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 October 2022 and 31 October 2021:

2022 2021
£    £   
Mr P Moretti
Balance outstanding at start of year (2,272 ) (3,176 )
Amounts advanced (3,732 ) 3,850
Amounts repaid 5,786 (2,946 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (218 ) (2,272 )

11. RELATED PARTY DISCLOSURES

Chapel Grange Montessori Nursery Limited

A company in which Mr Paolo Moretti is a director


As at year ended 31st October 2022, the company owed £50,146 (2021: £50,146) to Chapel Grange Montessori Nursery Limited.

2022 2021
£    £   
Amount due to related party at the balance sheet date 50,146 50,146

12. ULTIMATE CONTROLLING PARTY

The controlling party is Mr P Moretti.

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
POWER MECHANICAL AUTOMATION LTD

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of POWER MECHANICAL AUTOMATION LTD for the year ended 31 October 2022 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of POWER MECHANICAL AUTOMATION LTD in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of POWER MECHANICAL AUTOMATION LTD and state those matters that we have agreed to state to the director of POWER MECHANICAL AUTOMATION LTD in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than POWER MECHANICAL AUTOMATION LTD and its director for our work or for this report.

It is your duty to ensure that POWER MECHANICAL AUTOMATION LTD has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of POWER MECHANICAL AUTOMATION LTD. You consider that POWER MECHANICAL AUTOMATION LTD is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of POWER MECHANICAL AUTOMATION LTD. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Sterling Partners Limited
Chartered Accountants
Chartered Tax Advisors
2nd Floor, Grove House
774-780 Wilmslow Road
Didsbury
Manchester
Greater Manchester
M20 2DR


Date: .............................................