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REGISTERED NUMBER: 06147312 (England and Wales)










PUDSEY TEST & INSPECTION LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2023






PUDSEY TEST & INSPECTION LIMITED (REGISTERED NUMBER: 06147312)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2023










Page

Balance Sheet 1 to 2

Notes to the Financial Statements 3 to 7


PUDSEY TEST & INSPECTION LIMITED (REGISTERED NUMBER: 06147312)

BALANCE SHEET
31ST MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 348,590 435,737
Tangible assets 5 700,267 166,086
1,048,857 601,823

CURRENT ASSETS
Debtors 6 308,448 344,094
Cash at bank and in hand 367,330 195,121
675,778 539,215
CREDITORS
Amounts falling due within one year 7 293,319 310,031
NET CURRENT ASSETS 382,459 229,184
TOTAL ASSETS LESS CURRENT LIABILITIES 1,431,316 831,007

CREDITORS
Amounts falling due after more than one year 8 (29,004 ) (34,593 )

PROVISIONS FOR LIABILITIES (72,840 ) -
NET ASSETS 1,329,472 796,414

CAPITAL AND RESERVES
Called up share capital 11 10,600 10,600
Revaluation reserve 457,160 -
Retained earnings 861,712 785,814
SHAREHOLDERS' FUNDS 1,329,472 796,414

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

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

The directors acknowledge their 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.

PUDSEY TEST & INSPECTION LIMITED (REGISTERED NUMBER: 06147312)

BALANCE SHEET - continued
31ST 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6th September 2023 and were signed on its behalf by:





D Pailing - Director


PUDSEY TEST & INSPECTION LIMITED (REGISTERED NUMBER: 06147312)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2023


1. STATUTORY INFORMATION

Pudsey Test & Inspection Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 06147312

Registered office: Battye Street
Laisterdyke
Bradford
West Yorkshire
BD4 8AG

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 as modified by the revaluation of certain assets.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

When the outcome of a transaction can be estimated reliably, turnover from testing services is recognised by reference to the stage of completion of the test at the balance sheet date.

Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of twenty 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
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is calculated in order to write off each class of asset over its estimated useful economic life.
The rate at which each asset is depreciated is as follows:

Plant and machinery - 15% reducing balance
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on cost
Computer equipment- 25 % on cost
Freehold property- 2% on cost


PUDSEY TEST & INSPECTION LIMITED (REGISTERED NUMBER: 06147312)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023


2. ACCOUNTING POLICIES - continued
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.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2022 - 16 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st April 2022
and 31st March 2023 1,742,955
AMORTISATION
At 1st April 2022 1,307,218
Charge for year 87,147
At 31st March 2023 1,394,365
NET BOOK VALUE
At 31st March 2023 348,590
At 31st March 2022 435,737

PUDSEY TEST & INSPECTION LIMITED (REGISTERED NUMBER: 06147312)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023


5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1st April 2022 - 606,934 606,934
Additions 18,638 22,378 41,016
Disposals - (11,462 ) (11,462 )
Revaluations 530,000 - 530,000
At 31st March 2023 548,638 617,850 1,166,488
DEPRECIATION
At 1st April 2022 - 440,848 440,848
Charge for year - 35,403 35,403
Eliminated on disposal - (10,030 ) (10,030 )
At 31st March 2023 - 466,221 466,221
NET BOOK VALUE
At 31st March 2023 548,638 151,629 700,267
At 31st March 2022 - 166,086 166,086

Cost or valuation at 31st March 2023 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2023 530,000 - 530,000
Cost 18,638 617,850 636,488
548,638 617,850 1,166,488

6. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 299,702 318,640
Other debtors 6,402 20,332
306,104 338,972

Amounts falling due after more than one year:
Other debtors 2,344 5,122

Aggregate amounts 308,448 344,094

PUDSEY TEST & INSPECTION LIMITED (REGISTERED NUMBER: 06147312)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,648 10,648
Hire purchase contracts (see note 9) 3,308 -
Trade creditors 15,803 25,705
Taxation and social security 119,157 58,190
Other creditors 144,403 215,488
293,319 310,031

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 25,085 34,593
Hire purchase contracts (see note 9) 3,919 -
29,004 34,593

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 3,308 -
Between one and five years 3,919 -
7,227 -

Non-cancellable operating leases
2023 2022
£    £   
Within one year 6,085 -
Between one and five years 11,663 -
17,748 -

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 7,227 -

The items held under hire purchase agreements are secured against the assets to which they relate.

PUDSEY TEST & INSPECTION LIMITED (REGISTERED NUMBER: 06147312)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023


11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
10,000 Ordinary £1 10,000 10,000
600 Ordinary A, B, C, D, E & F £1 600 600
10,600 10,600