Caseware UK (AP4) 2022.0.179 2022.0.179 2023-02-282023-02-28No description of principal activitytrue32022-03-01false3trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 00892277 2022-03-01 2023-02-28 00892277 2021-03-01 2022-02-28 00892277 2023-02-28 00892277 2022-02-28 00892277 c:Director1 2022-03-01 2023-02-28 00892277 d:Buildings 2022-03-01 2023-02-28 00892277 d:Buildings 2023-02-28 00892277 d:Buildings 2022-02-28 00892277 d:Buildings d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 00892277 d:PlantMachinery 2022-03-01 2023-02-28 00892277 d:PlantMachinery 2023-02-28 00892277 d:PlantMachinery 2022-02-28 00892277 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 00892277 d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 00892277 d:CurrentFinancialInstruments 2023-02-28 00892277 d:CurrentFinancialInstruments 2022-02-28 00892277 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 00892277 d:CurrentFinancialInstruments d:WithinOneYear 2022-02-28 00892277 d:ShareCapital 2023-02-28 00892277 d:ShareCapital 2022-02-28 00892277 d:RevaluationReserve 2023-02-28 00892277 d:RevaluationReserve 2022-02-28 00892277 d:RetainedEarningsAccumulatedLosses 2023-02-28 00892277 d:RetainedEarningsAccumulatedLosses 2022-02-28 00892277 c:FRS102 2022-03-01 2023-02-28 00892277 c:AuditExempt-NoAccountantsReport 2022-03-01 2023-02-28 00892277 c:FullAccounts 2022-03-01 2023-02-28 00892277 c:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 00892277 2 2022-03-01 2023-02-28 iso4217:GBP xbrli:pure

Registered number: 00892277










PRODUCTION TECHNIQUES LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 28 FEBRUARY 2023

 
PRODUCTION TECHNIQUES LIMITED
REGISTERED NUMBER: 00892277

BALANCE SHEET
AS AT 28 FEBRUARY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
247,458
251,737

  
247,458
251,737

Current assets
  

Stocks
 5 
26,348
36,425

Debtors: amounts falling due within one year
 6 
38,751
42,799

Cash at bank and in hand
  
63,085
45,550

  
128,184
124,774

Creditors: amounts falling due within one year
 7 
(130,923)
(113,393)

Net current (liabilities)/assets
  
 
 
(2,739)
 
 
11,381

Total assets less current liabilities
  
244,719
263,118

  

Net assets
  
244,719
263,118


Capital and reserves
  

Called up share capital 
  
400
400

Revaluation reserve
  
180,104
181,718

Profit and loss account
  
64,215
81,000

  
244,719
263,118


Page 1

 
PRODUCTION TECHNIQUES LIMITED
REGISTERED NUMBER: 00892277
    
BALANCE SHEET (CONTINUED)
AS AT 28 FEBRUARY 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 






C L Brand
Director

Date: 9 November 2023

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
PRODUCTION TECHNIQUES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1.


General information

Production Techniques Limited (00892277) is a private company limited by shares and is 
incorporated in England and Wales.
The address of its registered office is:
13 Kings Road,
Fleet,
Hampshire,
GU51 3AU

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
PRODUCTION TECHNIQUES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

On transition to FRS 102, the property was brought in at deemed cost.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-
2% Straight line
Plant & machinery
-
18% Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 4

 
PRODUCTION TECHNIQUES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

Financial instruments

The Company only enters into basic financial instuments transaction that result in the recognition of financial assets and liabilities like trade aand other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2022 - 3).

Page 5

 
PRODUCTION TECHNIQUES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

4.


Tangible fixed assets





Freehold property
Plant & machinery
Total

£
£
£



Cost or valuation


At 1 March 2022
280,000
218,101
498,101



At 28 February 2023

280,000
218,101
498,101



Depreciation


At 1 March 2022
28,616
217,748
246,364


Charge for the year on owned assets
4,088
191
4,279



At 28 February 2023

32,704
217,939
250,643



Net book value



At 28 February 2023
247,296
162
247,458



At 28 February 2022
251,384
353
251,737


5.


Stocks

2023
2022
£
£

Raw materials and consumables
802
939

Finished goods and goods for resale
25,546
35,486

26,348
36,425


Page 6

 
PRODUCTION TECHNIQUES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

6.


Debtors

2023
2022
£
£


Trade debtors
20,471
28,622

Other debtors
13,735
9,855

Prepayments and accrued income
4,545
4,322

38,751
42,799



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
5,608
6,524

Corporation tax
11,229
10,789

Other taxation and social security
5,601
3,719

Other creditors
105,890
89,895

Accruals and deferred income
2,595
2,466

130,923
113,393


 
Page 7