PIONEER ENGINEERING SERVICES UK LIMITED

Company Registration Number:
SC665465 (Scotland)

Unaudited abridged accounts for the year ended 30 June 2023

Period of accounts

Start date: 01 July 2022

End date: 30 June 2023

PIONEER ENGINEERING SERVICES UK LIMITED

Contents of the Financial Statements

for the Period Ended 30 June 2023

Balance sheet
Notes

PIONEER ENGINEERING SERVICES UK LIMITED

Balance sheet

As at 30 June 2023


Notes

2023

2022


£

£
Called up share capital not paid: 0 0
Fixed assets
Intangible assets:   0 0
Tangible assets:   0 0
Investments:   0 0
Total fixed assets: 0 0
Current assets
Stocks: 0 0
Debtors: 3 31,713 53,797
Cash at bank and in hand: 38,527 24,339
Investments:   0 0
Total current assets: 70,240 78,136
Creditors: amounts falling due within one year: 4 (61,014) (73,213)
Net current assets (liabilities): 9,226 4,923
Total assets less current liabilities: 9,226 4,923
Creditors: amounts falling due after more than one year:   0 0
Provision for liabilities: 0 0
Total net assets (liabilities): 9,226 4,923
Capital and reserves
Called up share capital: 1 1
Share premium account: 0 0
Revaluation reserve: 00
Other reserves: 0 0
Profit and loss account: 9,225 4,922
Shareholders funds: 9,226 4,923

The notes form part of these financial statements

PIONEER ENGINEERING SERVICES UK LIMITED

Balance sheet statements

For the year ending 30 June 2023 the company was entitled to exemption 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 12 January 2024
and signed on behalf of the board by:

Name: Mr Peter Duthie
Status: Director

The notes form part of these financial statements

PIONEER ENGINEERING SERVICES UK LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value addedtaxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover isreduced for estimated customer returns, rebates and other similar allowances.Sale of goodsTurnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods hastransferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.Rendering of servicesTurnover from the rendering of services is recognised by reference to the stage of completion of the contract. Thestage of completion of a contract is measured by comparing the costs incurred for work performed to date to the totalestimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of acontract cannot be estimated reliably.

Other accounting policies

TaxationIncome tax expense represents the sum of the tax currently payable and deferred tax.The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in thestatement of comprehensive income because of items of income or expense that are taxable or deductible in otheryears and items that are never taxable or deductible. The company's liability for current tax is calculated using taxrates that have been enacted or substantively enacted by the end of the reporting period.Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financialstatements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities aregenerally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductibletemporary differences to the extent that it is probable that taxable profits will be available against which thosedeductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of eachreporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be availableto allow all or part of the asset to be recovered.Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which theliability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantivelyenacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities anddeferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequencesthat would follow from the manner in which the Company expects, at the end of the reporting period, to recover orsettle the carrying amount of its assets and liabilities.Current or deferred tax for the year is recognised in profit or loss, except when they related to items that arerecognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is alsorecognised in other comprehensive income or directly in equity respectively.

PIONEER ENGINEERING SERVICES UK LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2023

2. Employees

2023 2022
Average number of employees during the period 1 1

PIONEER ENGINEERING SERVICES UK LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2023

3. Debtors

2023 2022
££
Debtors due after more than one year: 0 0

Debtors due within one year 2023 2022 £ £Trade debtors 25,889 52,427VAT 5,824 1,370 31,713 53,797

PIONEER ENGINEERING SERVICES UK LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2023

4. Creditors: amounts falling due within one year note

2023 2022 £ £Trade creditors 7,501 7,501Corporation tax 692 -Accruals and deferred income 3,549 2,920Director's loan account 49,272 22,447Amounts owed to group undertakings - 1,296Amounts owed to related parties - 39,049 61,014 73,213