IRIS Accounts Production v23.3.0.418 04374737 Board of Directors 1.4.22 31.3.23 31.3.23 26.10.23 false true false false false true false Auditors Opinion Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure043747372022-03-31043747372023-03-31043747372022-04-012023-03-31043747372021-03-31043747372021-04-012022-03-31043747372022-03-3104374737ns16:EnglandWales2022-04-012023-03-3104374737ns15:PoundSterling2022-04-012023-03-3104374737ns11:Director12022-04-012023-03-3104374737ns11:PrivateLimitedCompanyLtd2022-04-012023-03-3104374737ns11:SmallEntities2022-04-012023-03-3104374737ns11:Audited2022-04-012023-03-3104374737ns11:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-3104374737ns11:SmallCompaniesRegimeForAccounts2022-04-012023-03-3104374737ns11:FullAccounts2022-04-012023-03-310437473712022-04-012023-03-3104374737ns11:OrdinaryShareClass12022-04-012023-03-3104374737ns11:Director22022-04-012023-03-3104374737ns11:Director32022-04-012023-03-3104374737ns11:Director42022-04-012023-03-3104374737ns11:CompanySecretary12022-04-012023-03-3104374737ns11:RegisteredOffice2022-04-012023-03-3104374737ns6:CurrentFinancialInstruments2023-03-3104374737ns6:CurrentFinancialInstruments2022-03-3104374737ns6:Non-currentFinancialInstruments2023-03-3104374737ns6:Non-currentFinancialInstruments2022-03-3104374737ns6:ShareCapital2023-03-3104374737ns6:ShareCapital2022-03-3104374737ns6:RetainedEarningsAccumulatedLosses2023-03-3104374737ns6:RetainedEarningsAccumulatedLosses2022-03-3104374737ns6:NetGoodwill2022-04-012023-03-3104374737ns6:IntangibleAssetsOtherThanGoodwill2022-04-012023-03-3104374737ns6:ComputerSoftware2022-04-012023-03-3104374737ns6:NetGoodwill2022-03-3104374737ns6:IntangibleAssetsOtherThanGoodwill2022-03-3104374737ns6:NetGoodwill2023-03-3104374737ns6:IntangibleAssetsOtherThanGoodwill2023-03-3104374737ns6:NetGoodwill2022-03-3104374737ns6:IntangibleAssetsOtherThanGoodwill2022-03-3104374737ns6:LandBuildings2022-03-3104374737ns6:PlantMachinery2022-03-3104374737ns6:FurnitureFittings2022-03-3104374737ns6:MotorVehicles2022-03-3104374737ns6:LandBuildings2022-04-012023-03-3104374737ns6:PlantMachinery2022-04-012023-03-3104374737ns6:FurnitureFittings2022-04-012023-03-3104374737ns6:MotorVehicles2022-04-012023-03-3104374737ns6:LandBuildings2023-03-3104374737ns6:PlantMachinery2023-03-3104374737ns6:FurnitureFittings2023-03-3104374737ns6:MotorVehicles2023-03-3104374737ns6:LandBuildings2022-03-3104374737ns6:PlantMachinery2022-03-3104374737ns6:FurnitureFittings2022-03-3104374737ns6:MotorVehicles2022-03-3104374737ns6:WithinOneYearns6:CurrentFinancialInstruments2023-03-3104374737ns6:WithinOneYearns6:CurrentFinancialInstruments2022-03-3104374737ns6:WithinOneYear2023-03-3104374737ns6:WithinOneYear2022-03-3104374737ns6:BetweenOneFiveYears2023-03-3104374737ns6:BetweenOneFiveYears2022-03-3104374737ns6:AllPeriods2023-03-3104374737ns6:AllPeriods2022-03-3104374737ns11:OrdinaryShareClass12023-03-31
REGISTERED NUMBER: 04374737 (England and Wales)















Financial Statements for the Year Ended 31 March 2023

for

Pavement Testing Services Limited

Pavement Testing Services Limited (Registered number: 04374737)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Pavement Testing Services Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: S Abbs
P Barry
D G Harrison
A J Sewell





SECRETARY: T Gray





REGISTERED OFFICE: Unit 1 Rough Hey Road
Grimsargh
Preston
PR2 5AR





REGISTERED NUMBER: 04374737 (England and Wales)





AUDITORS: Botham Accounting Limited
Chartered Accountants
Statutory Auditors
3 - 5 College Street
Nottingham
Nottinghamshire
NG1 5AQ

Pavement Testing Services Limited (Registered number: 04374737)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 11,201 114,383
Tangible assets 5 1,575,017 1,719,335
1,586,218 1,833,718

CURRENT ASSETS
Debtors 6 3,689,976 2,099,632
Cash at bank 599,204 929,412
4,289,180 3,029,044
CREDITORS
Amounts falling due within one year 7 1,206,033 883,534
NET CURRENT ASSETS 3,083,147 2,145,510
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,669,365

3,979,228

CREDITORS
Amounts falling due after more than one
year

8

(520,007

)

(699,381

)

PROVISIONS FOR LIABILITIES (348,022 ) (247,030 )
NET ASSETS 3,801,336 3,032,817

CAPITAL AND RESERVES
Called up share capital 11 3,000 3,000
Retained earnings 3,798,336 3,029,817
SHAREHOLDERS' FUNDS 3,801,336 3,032,817

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 26 October 2023 and were signed on its behalf by:





A J Sewell - Director


Pavement Testing Services Limited (Registered number: 04374737)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Pavement Testing Services 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
Turnover represents amounts receivable for the services and applications for payment net of VAT.

Profit is recognised on long-term contracts, if the final outcome can be assessed with reasonable certainty, by including in the profit and loss account turnover and related costs as contract activity progresses. Turnover is calculated as that proportion of total contract value which costs to date bear to total expected costs for that contract.

Goodwill
A transfer of business from a subsidiary is recorded as an exchange of the investment in that subsidiary for the underlying assets and liabilities of the subsidiary and accounts for them at book values. The values that would have been reported become the cost of these assets received in the transfer. The catch up adjustment resulting from the difference between the cost of the investment in subsidiary and the book value of the underlying assets and liabilities received is recognised in the profit or loss as income from shares in group undertakings. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any good will allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

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.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:
Freehold property2% on cost
Plant and machinery etc.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.

Pavement Testing Services Limited (Registered number: 04374737)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

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.

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 108 (2022 - 93 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 April 2022 190,639 15,527 206,166
Additions - 16,800 16,800
At 31 March 2023 190,639 32,327 222,966
AMORTISATION
At 1 April 2022 76,256 15,527 91,783
Charge for year 114,383 5,599 119,982
At 31 March 2023 190,639 21,126 211,765
NET BOOK VALUE
At 31 March 2023 - 11,201 11,201
At 31 March 2022 114,383 - 114,383

Pavement Testing Services Limited (Registered number: 04374737)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 April 2022 607,975 2,450,446 145,806 348,767 3,552,994
Additions - 119,157 20,923 57,626 197,706
At 31 March 2023 607,975 2,569,603 166,729 406,393 3,750,700
DEPRECIATION
At 1 April 2022 60,087 1,475,958 85,830 211,784 1,833,659
Charge for year 12,160 273,418 19,692 36,754 342,024
At 31 March 2023 72,247 1,749,376 105,522 248,538 2,175,683
NET BOOK VALUE
At 31 March 2023 535,728 820,227 61,207 157,855 1,575,017
At 31 March 2022 547,888 974,488 59,976 136,983 1,719,335

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 2,776,029 1,612,839
Amounts owed by group undertakings 41,729 -
Other debtors 872,218 486,793
3,689,976 2,099,632

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 159,996 100,620
Trade creditors 270,989 252,758
Amounts owed to group undertakings 23,755 -
Taxation and social security 513,288 247,247
Other creditors 238,005 282,909
1,206,033 883,534

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 520,007 699,381

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 97,594

Pavement Testing Services Limited (Registered number: 04374737)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 75,187 65,883
Between one and five years 124,868 57,055
200,055 122,938

10. SECURED DEBTS

Bank loans refers to CBILs loans, which are unsecured.

As at 31 March 2023, the total liabilities of group companies secured by a fixed charge over the
assets of the company was £509,807,481 (2022: Nil).

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
3,000 Ordinary £1 3,000 3,000

12. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Andrew Botham (Senior Statutory Auditor)
for and on behalf of Botham Accounting Limited

13. PRIOR YEAR ADJUSTMENTS

An adjustment has been made to the amounts recoverable on contracts balance in the 2022 accounts to reflect the company's performance in the year. This amendment has reduced the turnover and profit before tax by £95,685. Net assets at 31 March 2022 now include amounts recoverable on contracts of £453,315 and are therefore reduced by £95,685.

14. ULTIMATE CONTROLLING PARTY

The company's immediate parent company is PTS Bidco Limited, a company incorporated in England and Wales. Copies of the parent company's financial statements can be obtained from Companies House.

The ultimate parent undertaking and controlling party is TIC Holdco Limited, a company registered in England and Wales. Copies of the ultimate parent company's financial statements can be obtained from Companies House. The directors are of the opinion that Mr Peter Dubens is qualified as the ultimate controlling party of TIC Holdco Limited exercising his control through voting rights with a controlling percentage of >50%.