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REGISTERED NUMBER: 06673835 (England and Wales)








Unaudited Financial Statements

for the Year Ended 31 October 2023

for

PRESS COMMERCIAL BODYWORKS LIMITED

PRESS COMMERCIAL BODYWORKS LIMITED (REGISTERED NUMBER: 06673835)






Contents of the Financial Statements
for the year ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PRESS COMMERCIAL BODYWORKS LIMITED

Company Information
for the year ended 31 October 2023







DIRECTORS: D E Warren
Mrs E L Warren





SECRETARY: Mrs J L Warren





REGISTERED OFFICE: Units A B C & D Smoke Lane
Avonmouth
Bristol
BS11 0YA





REGISTERED NUMBER: 06673835 (England and Wales)





ACCOUNTANTS: Mitchell Glanville (Bristol) Limited
c/o MGB Accountants - Suite 22
Trym Lodge, 1 Henbury Road
Westbury-on-Trym
Bristol
BS9 3HQ

PRESS COMMERCIAL BODYWORKS LIMITED (REGISTERED NUMBER: 06673835)

Balance Sheet
31 October 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 173,070 215,312
173,070 215,312

CURRENT ASSETS
Stocks 15,349 15,349
Debtors 6 850,457 937,815
Cash at bank 283,583 166,998
1,149,389 1,120,162
CREDITORS
Amounts falling due within one year 7 545,972 589,538
NET CURRENT ASSETS 603,417 530,624
TOTAL ASSETS LESS CURRENT
LIABILITIES

776,487

745,936

CREDITORS
Amounts falling due after more than one year 8 (17,996 ) (27,824 )

PROVISIONS FOR LIABILITIES (32,883 ) (40,909 )
NET ASSETS 725,608 677,203

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 725,606 677,201
SHAREHOLDERS' FUNDS 725,608 677,203

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 March 2024 and were signed on its behalf by:




Mrs E L Warren - Director


PRESS COMMERCIAL BODYWORKS LIMITED (REGISTERED NUMBER: 06673835)

Notes to the Financial Statements
for the year ended 31 October 2023

1. STATUTORY INFORMATION

Press Commercial Bodyworks 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 Company 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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 2008, 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 10% on cost
Motor vehicles - 25% on cost
Computer equipment - 20% on cost and 10% 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 year 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

PRESS COMMERCIAL BODYWORKS LIMITED (REGISTERED NUMBER: 06673835)

Notes to the Financial Statements - continued
for the year ended 31 October 2023

2. ACCOUNTING POLICIES - continued

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2022 - 17 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2022
and 31 October 2023 900,000
AMORTISATION
At 1 November 2022
and 31 October 2023 900,000
NET BOOK VALUE
At 31 October 2023 -
At 31 October 2022 -

5. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 November 2022 768,084 346,607 115,537 1,230,228
Additions - 28,849 1,030 29,879
Disposals - (7,750 ) - (7,750 )
At 31 October 2023 768,084 367,706 116,567 1,252,357
DEPRECIATION
At 1 November 2022 744,723 162,412 107,781 1,014,916
Charge for year 4,741 63,289 4,091 72,121
Eliminated on disposal - (7,750 ) - (7,750 )
At 31 October 2023 749,464 217,951 111,872 1,079,287
NET BOOK VALUE
At 31 October 2023 18,620 149,755 4,695 173,070
At 31 October 2022 23,361 184,195 7,756 215,312


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 351,772 385,533
Amounts owed by group undertakings 250,465 240,414
Other debtors 248,220 311,868
850,457 937,815

PRESS COMMERCIAL BODYWORKS LIMITED (REGISTERED NUMBER: 06673835)

Notes to the Financial Statements - continued
for the year ended 31 October 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 19,437 21,061
Hire purchase contracts 68,448 7,194
Trade creditors 214,273 251,300
Taxation and social security 219,832 172,503
Other creditors 23,982 137,480
545,972 589,538

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 17,996 27,824

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 October 2023 and 31 October 2022:

2023 2022
£    £   
Mrs E L Warren and D E Warren
Balance outstanding at start of year (276,895 ) (240,855 )
Amounts advanced 412,465 322,814
Amounts repaid (348,817 ) (358,854 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (213,247 ) (276,895 )

Interest is charged on the overdrawn director loan balance at 3% per annum.

10. RELATED PARTY DISCLOSURES

Press Commercial Bodyworks Partnership, an entity under common control, charged the company rent of £20,000 (2022: £20,000) for the use of units A, B, C & D, Smoke Lane, Avonmouth, Bristol.

Press Commercial Properties Limited, a company under common control, owes the company £250,465 (2022: £240,414)

11. ULTIMATE CONTROLLING PARTY

The company is under joint control of E L Warren and D E Warren by virtue of their interest in the entire issued share capital of the company.