Registered number
05192755
Principal Stress Engineering Limited
Unaudited Filleted Financial Statements
For the Period Ended
31 December 2023
Principal Stress Engineering Limited
Registered number: 05192755
Balance Sheet as at 31 December 2023
Notes 31.12.23 30.06.22
£ £
Fixed assets
Tangible assets 3 - 256
Current assets
Debtors 4 - 19,178
Cash at bank and in hand 8,394 14,969
8,394 34,147
Creditors: amounts falling due within one year 5 (7,815) (6,905)
Net current assets 579 27,242
Net assets 579 27,498
Capital and reserves
Called up share capital 2 2
Profit and loss account 577 27,496
Shareholders' funds 579 27,498
The director is 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 director acknowledges his 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 A. Sykes
Director
Approved by the board on 26 March 2024
Principal Stress Engineering Limited
Notes to the Accounts
for the period from 1 July 2022 to 31 December 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).
Going concern and cessation of trading
On 31st December 2023 the director made the decision to cease trading and intends to apply for the company to be struck off the register at companies house in due course.
Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances. Turnover from the sale of goods is recognised when goods are delivered and legal title has passed.
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 at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and Fixtures 10 years straight line basis
Computer Equipment 5 years straight line basis
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. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the
company (including director) during the period 2 2
3 Tangible fixed assets
Plant and Fixtures Computer Equipment Total
£ £ £
Cost
At 1 July 2022 2,632 44,491 47,123
Additions - 600 600
Disposals (2,632) (45,091) (47,723)
At 31 December 2023 - - -
Depreciation
At 1 July 2022 2,377 44,490 46,867
Charge for the period 255 401 656
On disposals (2,632) (44,891) (47,523)
At 31 December 2023 - - -
Net book value
At 31 December 2023 - - -
At 30 June 2022 255 1 256
4 Debtors 2023 2022
£ £
Trade debtors - 17,460
Prepayments - 1,718
- 19,178
5 Creditors: amounts falling due within one year 2023 2022
£ £
Taxes and social security costs 2,658 5,416
Director's loan account 3,776 89
Accruals 1,381 1,400
7,815 6,905
6 Other information
Principal Stress Engineering Limited is a private company limited by shares and incorporated in England. Its registered office is : 4 Hillside, Denby Dale, Huddersfield, West Yorkshire, HD8 8QZ.
The financial statements are presented in Sterling, which is the functional currency of the company.
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