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REGISTERED NUMBER: 06783319 (England and Wales)























Unaudited Financial Statements

for the Year Ended 30 September 2023

for

P & S Drylining (NW) Limited

P & S Drylining (NW) Limited (Registered number: 06783319)

Contents of the Financial Statements
for the Year Ended 30 September 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


P & S Drylining (NW) Limited

Company Information
for the Year Ended 30 September 2023







DIRECTORS: Mr P Mills
Mrs J Woodcock





REGISTERED OFFICE: Blackburn Rovers Enterprise Centre Ewood
Nuttall Street
Blackburn
Lancashire
BB2 4JF





REGISTERED NUMBER: 06783319 (England and Wales)





ACCOUNTANTS: McDade Roberts Accountants Limited
Chartered Accountants
316 Blackpool Road
Fulwood
Preston
Lancashire
PR2 3AE

P & S Drylining (NW) Limited (Registered number: 06783319)

Statement of Financial Position
30 September 2023

30.9.23 30.9.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 90,697 89,974
90,697 89,974

CURRENT ASSETS
Stocks 18,309 27,480
Debtors 6 570,615 609,482
Cash at bank 874,165 623,717
1,463,089 1,260,679
CREDITORS
Amounts falling due within one year 7 396,416 434,407
NET CURRENT ASSETS 1,066,673 826,272
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,157,370

916,246

CREDITORS
Amounts falling due after more than one
year

8

(5,486

)

(43,287

)

PROVISIONS FOR LIABILITIES (10,091 ) (8,030 )
NET ASSETS 1,141,793 864,929

CAPITAL AND RESERVES
Called up share capital 103 103
Retained earnings 1,141,690 864,826
1,141,793 864,929

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

P & S Drylining (NW) Limited (Registered number: 06783319)

Statement of Financial Position - continued
30 September 2023


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 24 January 2024 and were signed on its behalf by:





Mr P Mills - Director


P & S Drylining (NW) Limited (Registered number: 06783319)

Notes to the Financial Statements
for the Year Ended 30 September 2023


1. STATUTORY INFORMATION

P & S Drylining (NW) 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 2012, is being amortised evenly over its estimated useful life of ten 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 - 20% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 20% on cost

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 statement of financial position date.


P & S Drylining (NW) Limited (Registered number: 06783319)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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 5 (2022 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2022
and 30 September 2023 10,200
AMORTISATION
At 1 October 2022
and 30 September 2023 10,200
NET BOOK VALUE
At 30 September 2023 -
At 30 September 2022 -

P & S Drylining (NW) Limited (Registered number: 06783319)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023


5. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 October 2022 815 182,389 6,286 189,490
Additions - 30,995 - 30,995
At 30 September 2023 815 213,384 6,286 220,485
DEPRECIATION
At 1 October 2022 163 93,442 5,911 99,516
Charge for year 163 29,984 125 30,272
At 30 September 2023 326 123,426 6,036 129,788
NET BOOK VALUE
At 30 September 2023 489 89,958 250 90,697
At 30 September 2022 652 88,947 375 89,974

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 October 2022
and 30 September 2023 103,116
DEPRECIATION
At 1 October 2022 57,798
Charge for year 11,329
At 30 September 2023 69,127
NET BOOK VALUE
At 30 September 2023 33,989
At 30 September 2022 45,318

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Trade debtors 407,274 470,832
Other debtors 163,341 138,650
570,615 609,482

P & S Drylining (NW) Limited (Registered number: 06783319)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Hire purchase contracts (see note 9) 37,800 15,554
Trade creditors 185,347 234,463
Taxation and social security 60,032 29,977
Other creditors 113,237 154,413
396,416 434,407

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.23 30.9.22
£    £   
Hire purchase contracts (see note 9) 5,486 43,287

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
30.9.23 30.9.22
£    £   
Net obligations repayable:
Within one year 37,800 15,554
Between one and five years 5,486 43,287
43,286 58,841

Non-cancellable operating leases
30.9.23 30.9.22
£    £   
Within one year 920 1,359

P & S Drylining (NW) Limited (Registered number: 06783319)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023


10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 September 2023 and 30 September 2022:

30.9.23 30.9.22
£    £   
Mr P Mills
Balance outstanding at start of year - -
Amounts advanced 73,255 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 73,255 -

Mrs J Woodcock
Balance outstanding at start of year - -
Amounts advanced 9,519 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 9,519 -

The advances have been made without condition and no interest has been charged. The advance has been repaid within nine months of the year end.