Registered number
01116843
Poole Technical Plating Services Limited
Filleted Accounts
30 June 2023
Poole Technical Plating Services Limited
Registered number: 01116843
Balance Sheet
as at 30 June 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 625,073 687,100
Current assets
Stocks 106,559 121,787
Debtors 4 532,533 620,573
Cash at bank and in hand 741,116 798,206
1,380,208 1,540,566
Creditors: amounts falling due within one year 5 (348,778) (464,157)
Net current assets 1,031,430 1,076,409
Total assets less current liabilities 1,656,503 1,763,509
Provisions for liabilities (51,979) (61,754)
Net assets 1,604,524 1,701,755
Capital and reserves
Called up share capital 6,023 6,023
Share premium 70,065 70,065
Revaluation reserve 6 127,456 127,456
Profit and loss account 1,400,980 1,498,211
Shareholders' funds 1,604,524 1,701,755
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr C J Scott
Director
Approved by the board on 7 September 2023
Poole Technical Plating Services Limited
Notes to the Accounts
for the year ended 30 June 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings 1% per annum
Motor vehicles 30% per annum on monthly written down value
Plant and machinery 20% per annum on monthly written down value
Fixtures, fittings, tools and equipment 25% per annum on monthly written down value
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 30 28
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 July 2022 665,622 1,991,279 58,546 2,715,447
Additions - 10,660 - 10,660
At 30 June 2023 665,622 2,001,939 58,546 2,726,107
Depreciation
At 1 July 2022 310,074 1,671,045 47,228 2,028,347
Charge for the year 9,402 59,890 3,395 72,687
At 30 June 2023 319,476 1,730,935 50,623 2,101,034
Net book value
At 30 June 2023 346,146 271,004 7,923 625,073
At 30 June 2022 355,548 320,234 11,318 687,100
Freehold land and buildings: 2023 2022
£ £
Historical cost 500,301 500,301
Cumulative depreciation based on historical cost 104,621 95,219
395,680 405,082
4 Debtors 2023 2022
£ £
Trade debtors 516,249 600,835
Other debtors 16,284 19,738
532,533 620,573
5 Creditors: amounts falling due within one year 2023 2022
£ £
Pension contol account 33,680 3,424
Trade creditors 136,040 213,498
Taxation and social security costs 119,411 209,255
Other creditors 59,647 37,980
348,778 464,157
6 Revaluation reserve 2023 2022
£ £
At 1 July 2022 127,456 127,456
At 30 June 2023 127,456 127,456
7 Other information
Poole Technical Plating Services Limited is a private company limited by shares and incorporated in England. Its registered office is:
32 Dawkins Road
Hamworthy
Poole
Dorset
BH15 4JW
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