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REGISTERED NUMBER: 13922379 (England and Wales)















Group Strategic Report, Report of the Directors and

Consolidated Financial Statements

for the Period 17 February 2022 to 31 March 2023

for

PDS Manufacturing Limited

PDS Manufacturing Limited (Registered number: 13922379)






Contents of the Consolidated Financial Statements
for the Period 17 February 2022 to 31 March 2023




Page

Company Information 1

Group Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 6

Consolidated Income Statement 10

Consolidated Other Comprehensive Income 11

Consolidated Balance Sheet 12

Company Balance Sheet 13

Consolidated Statement of Changes in Equity 14

Company Statement of Changes in Equity 15

Consolidated Cash Flow Statement 16

Notes to the Consolidated Cash Flow Statement 17

Notes to the Consolidated Financial Statements 18


PDS Manufacturing Limited

Company Information
for the Period 17 February 2022 to 31 March 2023







DIRECTORS: K Barnes
T J Fairley
Mrs L Gibbons
G Greaves





REGISTERED OFFICE: Greenvale Business Park
Todmorden Road
Todmorden Park
Littleborough
Lancashire
OL15 9AZ





REGISTERED NUMBER: 13922379 (England and Wales)





AUDITORS: Richard Smedley Limited
Chartered Accountants & Registered Auditors
Richmond House
Lawnswood Business Park
Redvers Close
Leeds
West Yorkshire
LS16 6QY

PDS Manufacturing Limited (Registered number: 13922379)

Group Strategic Report
for the Period 17 February 2022 to 31 March 2023

The directors present their strategic report of the company and the group for the period 17 February 2022 to 31 March 2023.

REVIEW OF BUSINESS
The group's aim is to continue to trade without the need for financing. The directors continue to monitor future cash flows closely to ensure working capital requirements are met.

The group's key financial performance indicators during the year were as follows:

Turnover - £9,554,921

Operating Profit - £276,282

Gross Profit Percentage - 30.68%

On 28th June 2022, the company purchased the entire Share Capital of Littleborough Investment Partnership Limited, registered number 11794396. PDS Manufacturing Limited is now the parent company of Littleborough Investment Partnership Limited and also the ultimate controlling party of Performance Doorset Solutions Limited, registered number 04642499.

The PDS Manufacturing Limited group is committed to a responsible approach to business and seeks to manage the impact of the business activities and, in doing so, makes a positive contribution to the well being of the customers and communities it operates in

PRINCIPAL RISKS AND UNCERTAINTIES
The group is subject to a number of key risks which are reviewed in formal meetings, and where appropriate, assessments and procedures are discussed to mitigate the effect.

Competitive pressure
The group is aware of the competitive pressure in the UK. The group responds to this pressure by continuing to provide quality products and service and keeping its product range up to date.

Liquidity risk
Liquidity risk is the risk that the group will not be able to meet its financial obligations as they fall due. The group seeks to manage liquidity risk by ensuring sufficient liquidity is available to meet foreseeable needs. The directors are of the opinion that the risk management processes adopted which involves the review, monitoring and where possible mitigation of the risks identified is appropriate to the business.

Financial risk
The group's finance director and accounting team operates procedures designed to reduce or eliminate financial risk. The policies are approved by the Board and the use of financial instruments is strictly controlled.

The group's principle financial instruments comprise cash and various items, such as trade debtors and trade creditors that arise directly from its operations. The group does not use forward foreign currency contracts to manage the currency rate risks arising from the company's operations. The group does not use interest rate swaps to manage the interest rate risks arising from the company's operations.

FUTURE DEVELOPMENTS
The directors expect the general level of activity to remain consistent with the current period and continue to be profitable.

KEY PERFORMANCE INDICATORS
The board monitors by reference to a number of key performance indicators, produced alongside monthly management accounts.


PDS Manufacturing Limited (Registered number: 13922379)

Group Strategic Report
for the Period 17 February 2022 to 31 March 2023

GOING CONCERN
The directors and management have recognised the principal risks and uncertainties which could affect the business and have considered the extent to which they may materialise.

ON BEHALF OF THE BOARD:





T J Fairley - Director


30 October 2023

PDS Manufacturing Limited (Registered number: 13922379)

Report of the Directors
for the Period 17 February 2022 to 31 March 2023

The directors present their report with the financial statements of the company and the group for the period 17 February 2022 to 31 March 2023.

INCORPORATION
The group was incorporated on 17 February 2022 .

DIVIDENDS
No dividends will be distributed for the period ended 31 March 2023.

DIRECTORS
The directors who have held office during the period from 17 February 2022 to the date of this report are as follows:

K Barnes - appointed 28 June 2022
T J Fairley - appointed 17 February 2022
Mrs L Gibbons - appointed 28 June 2022
G Greaves - appointed 28 June 2022

All the directors who are eligible offer themselves for election at the forthcoming first Annual General Meeting.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

PDS Manufacturing Limited (Registered number: 13922379)

Report of the Directors
for the Period 17 February 2022 to 31 March 2023


AUDITORS
The auditors, Richard Smedley Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





T J Fairley - Director


30 October 2023

Report of the Independent Auditors to the Members of
PDS Manufacturing Limited

Opinion
We have audited the financial statements of PDS Manufacturing Limited (the 'parent company') and its subsidiaries (the 'group') for the period ended 31 March 2023 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 31 March 2023 and of the group's profit for the period then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
PDS Manufacturing Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
PDS Manufacturing Limited


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

- the nature of the industry and sector, control environment and business performance including the design of the company's remuneration policies, key drivers for Directors’ remuneration;
- results of our enquiries of management about their own identification and assessment of the risks of irregularities;
- any matters we identified having obtained and reviewed the company's documentation of their policies and procedures relating to:
- identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance;
- detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud;

As a result of these procedures, we considered the opportunities and incentives that may exist within the
organisation for fraud and identified the greatest potential for fraud in relation to revenue recognition. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.

We also obtained an understanding of the legal and regulatory frameworks that the company operates in,
focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act, UK Corporate Governance Code and local tax legislation.

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the
financial statements but compliance with which may be fundamental to the company’s ability to operate or to avoid a material penalty.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
PDS Manufacturing Limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Richard Smedley (Senior Statutory Auditor)
for and on behalf of Richard Smedley Limited
Chartered Accountants & Registered Auditors
Richmond House
Lawnswood Business Park
Redvers Close
Leeds
West Yorkshire
LS16 6QY

30 October 2023

PDS Manufacturing Limited (Registered number: 13922379)

Consolidated Income Statement
for the Period 17 February 2022 to 31 March 2023

Notes £    £   

TURNOVER 3 9,554,921

Cost of sales 6,623,550
GROSS PROFIT 2,931,371

Distribution costs 263,936
Administrative expenses 2,405,827
2,669,763
OPERATING PROFIT and
PROFIT BEFORE TAXATION 261,608

Tax on profit 6 (14,674 )
PROFIT FOR THE FINANCIAL PERIOD 276,282
Profit attributable to:
Owners of the parent 276,282

PDS Manufacturing Limited (Registered number: 13922379)

Consolidated Other Comprehensive Income
for the Period 17 February 2022 to 31 March 2023

Notes £   

PROFIT FOR THE PERIOD 276,282


OTHER COMPREHENSIVE INCOME -
TOTAL COMPREHENSIVE INCOME
FOR THE PERIOD

276,282

Total comprehensive income attributable to:
Owners of the parent 276,282

PDS Manufacturing Limited (Registered number: 13922379)

Consolidated Balance Sheet
31 March 2023

Notes £    £   
FIXED ASSETS
Intangible assets 8 (3,387,691 )
Tangible assets 9 258,347
Investments 10 -
(3,129,344 )

CURRENT ASSETS
Stocks 11 2,173,599
Debtors 12 2,416,190
Cash at bank and in hand 1,259,972
5,849,761
CREDITORS
Amounts falling due within one year 13 2,336,349
NET CURRENT ASSETS 3,513,412
TOTAL ASSETS LESS CURRENT
LIABILITIES

384,068

CREDITORS
Amounts falling due after more than one year 14 (81,000 )

PROVISIONS FOR LIABILITIES 16 (25,886 )
NET ASSETS 277,182

CAPITAL AND RESERVES
Called up share capital 17 900
Retained earnings 18 276,282
SHAREHOLDERS' FUNDS 277,182

The financial statements were approved by the Board of Directors and authorised for issue on 30 October 2023 and were signed on its behalf by:




T J Fairley - Director



Mrs L Gibbons - Director


PDS Manufacturing Limited (Registered number: 13922379)

Company Balance Sheet
31 March 2023

Notes £   
FIXED ASSETS
Intangible assets 8 -
Tangible assets 9 -
Investments 10 608,400
608,400
TOTAL ASSETS LESS CURRENT
LIABILITIES

608,400

CAPITAL AND RESERVES
Called up share capital 17 900
Retained earnings 607,500
SHAREHOLDERS' FUNDS 608,400

Company's profit for the financial year 607,500

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

The financial statements were approved by the Board of Directors and authorised for issue on 30 October 2023 and were signed on its behalf by:





T J Fairley - Director


PDS Manufacturing Limited (Registered number: 13922379)

Consolidated Statement of Changes in Equity
for the Period 17 February 2022 to 31 March 2023

Called up
share Retained Total
capital earnings equity
£    £    £   

Changes in equity
Issue of share capital 900 - 900
Total comprehensive income - 276,282 276,282
Balance at 31 March 2023 900 276,282 277,182

PDS Manufacturing Limited (Registered number: 13922379)

Company Statement of Changes in Equity
for the Period 17 February 2022 to 31 March 2023

Called up
share Retained Total
capital earnings equity
£    £    £   

Changes in equity
Issue of share capital 900 - 900
Total comprehensive income - 607,500 607,500
Balance at 31 March 2023 900 607,500 608,400

PDS Manufacturing Limited (Registered number: 13922379)

Consolidated Cash Flow Statement
for the Period 17 February 2022 to 31 March 2023

Notes £   
Cash flows from operating activities
Cash generated from operations 1 1,424,280
Net cash from operating activities 1,424,280

Cash flows from investing activities
Purchase of intangible fixed assets (7,500 )
Purchase of tangible fixed assets (157,708 )
Net cash from investing activities (165,208 )

Cash flows from financing activities
Share issue 900
Net cash from financing activities 900

Increase in cash and cash equivalents 1,259,972
Cash and cash equivalents at beginning of
period

2

-

Cash and cash equivalents at end of period 2 1,259,972

PDS Manufacturing Limited (Registered number: 13922379)

Notes to the Consolidated Cash Flow Statement
for the Period 17 February 2022 to 31 March 2023

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS
£   
Profit before taxation 261,608
Depreciation charges 9,942
Opening cash balance 1,347,871
1,619,421
Increase in stocks (78,328 )
Increase in trade and other debtors (355,068 )
Increase in trade and other creditors 238,255
Cash generated from operations 1,424,280

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Period ended 31 March 2023
31.3.23 17.2.22
£    £   
Cash and cash equivalents 1,259,972 -


3. ANALYSIS OF CHANGES IN NET FUNDS

At 17.2.22 Cash flow At 31.3.23
£    £    £   
Net cash
Cash at bank and in hand - 1,259,972 1,259,972
- 1,259,972 1,259,972
Total - 1,259,972 1,259,972

PDS Manufacturing Limited (Registered number: 13922379)

Notes to the Consolidated Financial Statements
for the Period 17 February 2022 to 31 March 2023

1. STATUTORY INFORMATION

PDS Manufacturing 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 General 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in sterling, which is the functional currency of the group.

The consolidated financial statements incorporate those of PDS Manufacturing Limited and all of its subsidiaries (i.e. entities that the group controls through its power to govern the financial and operating policies so as to obtain economic benefits).

Basis of consolidation
All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

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 2022, 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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 33.33% on cost
Plant and machinery - 33% on cost
Fixtures and fittings - 33% on cost
Motor vehicles - 33% on cost and 25% on cost
Computer equipment - 33% on cost

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

PDS Manufacturing Limited (Registered number: 13922379)

Notes to the Consolidated Financial Statements - continued
for the Period 17 February 2022 to 31 March 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
Basic financial instruments are recognised at amortised cost. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Consolidated 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.

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 period 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
In carrying out their duties in respect of going concern, the directors have carried out a review of the group's financial position for a period of 12 months from the date of signing these financial statements. These have been based on a comprehensive review of revenue, the expenditure and cash position. The group currently meets its day-to-day working capital requirements through its cash balance, which is sufficient to cover working capital requirements.

Having taken all of the above factors into consideration, the directors have reached a conclusion that the group is able to manage its business risk. Thus, they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

PDS Manufacturing Limited (Registered number: 13922379)

Notes to the Consolidated Financial Statements - continued
for the Period 17 February 2022 to 31 March 2023

3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the group.

An analysis of turnover by class of business is given below:

£   
Product sales 9,551,921
Equipment leasing 3,000
9,554,921

An analysis of turnover by geographical market is given below:

£   
United Kingdom 9,554,921
9,554,921

4. EMPLOYEES AND DIRECTORS
£   
Wages and salaries 2,261,271
Social security costs 198,816
Other pension costs 334,321
2,794,408

The average number of employees during the period was as follows:

Administration 50
Production 77
127

The average number of employees by undertakings that were proportionately consolidated during the period was 127 .

£   
Directors' remuneration 197,787
Directors' pension contributions to money purchase schemes 280,000

PDS Manufacturing Limited (Registered number: 13922379)

Notes to the Consolidated Financial Statements - continued
for the Period 17 February 2022 to 31 March 2023

5. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

£   
Hire of plant and machinery 19,918
Depreciation - owned assets 259,775
Goodwill amortisation (178,300 )
Auditors' remuneration 11,750
Foreign exchange differences (5,072 )

6. TAXATION

Analysis of the tax credit
The tax credit on the profit for the period was as follows:
£   
Deferred tax (14,674 )
Tax on profit (14,674 )

7. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


8. INTANGIBLE FIXED ASSETS

Group
Goodwill
£   
COST
Additions (3,565,991 )
At 31 March 2023 (3,565,991 )
AMORTISATION
Amortisation for period (178,300 )
At 31 March 2023 (178,300 )
NET BOOK VALUE
At 31 March 2023 (3,387,691 )

PDS Manufacturing Limited (Registered number: 13922379)

Notes to the Consolidated Financial Statements - continued
for the Period 17 February 2022 to 31 March 2023

9. TANGIBLE FIXED ASSETS

Group
Fixtures
Short Plant and and
leasehold machinery fittings
£    £    £   
COST
At 17 February 2022 14,809 932,968 29,198
Additions 3,550 118,618 -
At 31 March 2023 18,359 1,051,586 29,198
DEPRECIATION
At 17 February 2022 5,759 713,941 11,648
Charge for period 6,021 173,777 9,563
At 31 March 2023 11,780 887,718 21,211
NET BOOK VALUE
At 31 March 2023 6,579 163,868 7,987
At 16 February 2022 9,050 219,027 17,550

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 17 February 2022 73,971 127,280 1,178,226
Additions 26,480 9,060 157,708
At 31 March 2023 100,451 136,340 1,335,934
DEPRECIATION
At 17 February 2022 37,788 48,676 817,812
Charge for period 27,211 43,203 259,775
At 31 March 2023 64,999 91,879 1,077,587
NET BOOK VALUE
At 31 March 2023 35,452 44,461 258,347
At 16 February 2022 36,183 78,604 360,414

PDS Manufacturing Limited (Registered number: 13922379)

Notes to the Consolidated Financial Statements - continued
for the Period 17 February 2022 to 31 March 2023

10. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
Additions 608,400
At 31 March 2023 608,400
NET BOOK VALUE
At 31 March 2023 608,400


On 28th June 2022, the company purchased the entire Share Capital of Littleborough Investment Partnership Limited, registered number 11794396. PDS Manufacturing Limited is now the parent company of Littleborough Investment Partnership Limited and also the ultimate controlling party of Performance Doorset Solutions Limited, registered number 04642499.

11. STOCKS


Group
£   
Stocks 2,173,599

12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR


Group
£   
Trade debtors 2,352,223
Other debtors 6,497
Prepayments 57,470
2,416,190

PDS Manufacturing Limited (Registered number: 13922379)

Notes to the Consolidated Financial Statements - continued
for the Period 17 February 2022 to 31 March 2023

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR


Group
£   
Trade creditors 1,784,112
Social security and other taxes 59,814
VAT 285,164
Other creditors 1,987
Accruals and deferred income 205,272
2,336,349

14. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR


Group
£   
Other creditors 81,000

15. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Non- cancellable operating leases
£   
Within one year 594,339
Between one and five years 2,103,463
In more than five years 558,227
3,256,029

16. PROVISIONS FOR LIABILITIES


Group
£   
Deferred tax 25,886

Group
Deferred
tax
£   
Charge to Income Statement during period 25,886
Balance at 31 March 2023 25,886

PDS Manufacturing Limited (Registered number: 13922379)

Notes to the Consolidated Financial Statements - continued
for the Period 17 February 2022 to 31 March 2023

17. CALLED UP SHARE CAPITAL

900 ordinary shares of £1 each were allotted for a share-for-share exchange for shares in the company Littleborough Investment Partnership Limited.

18. RESERVES

Group
Retained
earnings
£   

Profit for the period 276,282
At 31 March 2023 276,282


19. RELATED PARTY DISCLOSURES

The following subsidiaries are exempt from the requirements of Act relating to the audit of its individual accounts by virtue of s479A of the Companies Act 2006:

Littleborough Investment Partnership Limited (company no. 11794396)
Performance Doorset Solutions Limited ( company no. 04642499)

PDS Manufacturing Limited (13922379) has provided a guarantee for the above subsidiaries for the year ended 31 March 2023 by virtue of s479C of the Companies Act 2006.

PDS Manufacturing Limited guarantees all outstanding liabilities to which the subsidiary companies are subject to 30th June 2022, until they are satisfied in full. The guarantee is enforceable against PDS Manufacturing Limited by any person to whom the subsidiaries are liable in respect of those liabilities.

20. ULTIMATE CONTROLLING PARTY

The directors are considered to be the ultimate controlling party.