1 July 2022 false No description of principal activity Taxfiler 2023.10 true 11540250business:PrivateLimitedCompanyLtd2022-07-012023-06-30 115402502022-06-30 115402502022-07-012023-06-30 11540250business:AuditExemptWithAccountantsReport2022-07-012023-06-30 11540250business:FilletedAccounts2022-07-012023-06-30 115402502023-06-30 11540250business:Director12022-07-012023-06-30 11540250business:RegisteredOffice2022-07-012023-06-30 115402502022-06-30 11540250core:WithinOneYear2023-06-30 11540250core:WithinOneYear2022-06-30 11540250core:AfterOneYear2023-06-30 11540250core:AfterOneYear2022-06-30 11540250core:ShareCapitalcore:PreviouslyStatedAmount2023-06-30 11540250core:ShareCapitalcore:PreviouslyStatedAmount2022-06-30 11540250core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-06-30 11540250core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-06-30 11540250core:PreviouslyStatedAmount2023-06-30 11540250core:PreviouslyStatedAmount2022-06-30 11540250business:SmallEntities2022-07-012023-06-30 11540250countries:EnglandWales2022-07-012023-06-30 11540250core:PlantMachinery2022-07-012023-06-30 11540250core:MotorVehicles2022-07-012023-06-30 11540250core:FurnitureFittings2022-07-012023-06-30 11540250core:ComputerEquipment2022-07-012023-06-30 11540250core:IntangibleAssetsOtherThanGoodwill2022-06-30 11540250core:IntangibleAssetsOtherThanGoodwill2023-06-30 11540250core:IntangibleAssetsOtherThanGoodwill2022-07-012023-06-30 11540250core:PlantMachinery2022-06-30 11540250core:MotorVehicles2022-06-30 11540250core:FurnitureFittings2022-06-30 11540250core:ComputerEquipment2022-06-30 11540250core:PlantMachinery2023-06-30 11540250core:MotorVehicles2023-06-30 11540250core:FurnitureFittings2023-06-30 11540250core:ComputerEquipment2023-06-30 11540250core:BetweenOneFiveYears2023-06-30 11540250core:BetweenOneFiveYears2022-06-30 115402502021-07-012022-06-30 iso4217:GBP xbrli:pure
Company Registration No. 11540250 (England and Wales)
Pennine Power Engineering Ltd Unaudited accounts for the year ended 30 June 2023
Pennine Power Engineering Ltd Unaudited accounts Contents
Page
- 2 -
Pennine Power Engineering Ltd Company Information for the year ended 30 June 2023
Director
Mr S Brown
Company Number
11540250 (England and Wales)
Registered Office
Unit 21 Golborne Enterprise Park Golborne Warrington WA3 3DR England
Accountants
Summed Up Accountancy Services 74 Ashton Road Failsworth Manchester M35 9WL
- 3 -
Pennine Power Engineering Ltd Statement of financial position as at 30 June 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
17,000 
20,000 
Tangible assets
43,599 
85,276 
60,599 
105,276 
Current assets
Inventories
195,768 
167,758 
Debtors
209,041 
198,890 
Cash at bank and in hand
1,855 
679 
406,664 
367,327 
Creditors: amounts falling due within one year
(485,630)
(501,478)
Net current liabilities
(78,966)
(134,151)
Total assets less current liabilities
(18,367)
(28,875)
Creditors: amounts falling due after more than one year
(35,967)
(62,249)
Net liabilities
(54,334)
(91,124)
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
(54,434)
(91,224)
Shareholders' funds
(54,334)
(91,124)
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 1 November 2023 and were signed on its behalf by
Mr S Brown Director Company Registration No. 11540250
- 4 -
Pennine Power Engineering Ltd Notes to the Accounts for the year ended 30 June 2023
1
Statutory information
Pennine Power Engineering Ltd is a private company, limited by shares, registered in England and Wales, registration number 11540250. The registered office is Unit 21 Golborne Enterprise Park, Golborne , Warrington, WA3 3DR, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
10-50% straight line
Motor vehicles
25-33% straight line
Fixtures & fittings
10-50% straight line
Computer equipment
10-50% straight line
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
- 5 -
Pennine Power Engineering Ltd Notes to the Accounts for the year ended 30 June 2023
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Going concern
The director has a reasonable expectation that the company has adequate resources to continue in operational existence for the forseeable future. The director has reached this conculsion giving due consideration to the projected future performance of the company and any potential risk that might impact the company's ability to meet its required solvency levels. For this reason, they continue to adopt the going concern basis in preparing the financial statements.
4
Intangible fixed assets
Other 
£ 
Cost
At 1 July 2022
54,330 
At 30 June 2023
54,330 
Amortisation
At 1 July 2022
34,330 
Charge for the year
3,000 
At 30 June 2023
37,330 
Net book value
At 30 June 2023
17,000 
At 30 June 2022
20,000 
5
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 July 2022
40,648 
102,752 
27,528 
20,887 
191,815 
Additions
3,721 
- 
194 
1,836 
5,751 
At 30 June 2023
44,369 
102,752 
27,722 
22,723 
197,566 
Depreciation
At 1 July 2022
16,804 
57,935 
14,404 
17,396 
106,539 
Charge for the year
9,825 
28,587 
6,039 
2,977 
47,428 
At 30 June 2023
26,629 
86,522 
20,443 
20,373 
153,967 
Net book value
At 30 June 2023
17,740 
16,230 
7,279 
2,350 
43,599 
At 30 June 2022
23,844 
44,817 
13,124 
3,491 
85,276 
- 6 -
Pennine Power Engineering Ltd Notes to the Accounts for the year ended 30 June 2023
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
191,782 
143,554 
Accrued income and prepayments
14,159 
10,101 
Other debtors
3,100 
45,235 
209,041 
198,890 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
10,970 
25,111 
VAT
78,954 
42,189 
Obligations under finance leases and hire purchase contracts
15,821 
21,627 
Trade creditors
196,082 
215,400 
Taxes and social security
5,404 
29,852 
Other creditors
134,673 
114,507 
Loans from directors
28,903 
40,343 
Accruals
14,823 
12,449 
485,630 
501,478 
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
25,503 
35,569 
Obligations under finance leases and hire purchase contracts
10,464 
26,680 
35,967 
62,249 
9
Operating lease commitments
2023 
2022 
£ 
£ 
At 30 June 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
10,125 
10,125 
Later than one year and not later than five years
24,469 
34,594 
34,594 
44,719 
10
Transactions with related parties
Loans from directors are interest free and repayable on demand.
11
Average number of employees
During the year the average number of employees was 5 (2022: 5).
- 7 -