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REGISTERED NUMBER: 04291520 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023

FOR

PIER 1 METALWORKS LIMITED

PIER 1 METALWORKS LIMITED (REGISTERED NUMBER: 04291520)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 September 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 8

PIER 1 METALWORKS LIMITED

COMPANY INFORMATION
for the Year Ended 30 September 2023







DIRECTOR: Mr P P A Birchall





SECRETARY: Mrs N Birchall





REGISTERED OFFICE: 95 King Street
Lancaster
LA1 1RH





REGISTERED NUMBER: 04291520 (England and Wales)





ACCOUNTANTS: Taylor, Robertson & Willett Ltd
95 King Street
Lancaster
Lancashire
LA1 1RH

PIER 1 METALWORKS LIMITED (REGISTERED NUMBER: 04291520)

BALANCE SHEET
30 September 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 71,608 80,229
71,608 80,229

CURRENT ASSETS
Stocks 44,358 51,354
Debtors 6 193,058 172,565
Cash at bank 3,762 1
241,178 223,920
CREDITORS
Amounts falling due within one year 7 139,768 164,629
NET CURRENT ASSETS 101,410 59,291
TOTAL ASSETS LESS CURRENT
LIABILITIES

173,018

139,520

CREDITORS
Amounts falling due after more than one year 8 (38,628 ) (52,193 )

PROVISIONS FOR LIABILITIES (7,789 ) (9,278 )
NET ASSETS 126,601 78,049

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 125,601 77,049
SHAREHOLDERS' FUNDS 126,601 78,049

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 director acknowledges his 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.

PIER 1 METALWORKS LIMITED (REGISTERED NUMBER: 04291520)

BALANCE SHEET - 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 director and authorised for issue on 23 February 2024 and were signed by:





Mr P P A Birchall - Director


PIER 1 METALWORKS LIMITED (REGISTERED NUMBER: 04291520)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 September 2023

1. STATUTORY INFORMATION

Pier 1 Metalworks 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 2001, 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 - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 30% on reducing balance

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 balance sheet date.


PIER 1 METALWORKS LIMITED (REGISTERED NUMBER: 04291520)

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 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.

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 10 (2022 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2022
and 30 September 2023 7,000
AMORTISATION
At 1 October 2022
and 30 September 2023 7,000
NET BOOK VALUE
At 30 September 2023 -
At 30 September 2022 -

PIER 1 METALWORKS LIMITED (REGISTERED NUMBER: 04291520)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 September 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Office Plant and and
unit machinery fittings
£    £    £   
COST
At 1 October 2022 4,553 135,727 2,986
Additions - 3,500 1,733
At 30 September 2023 4,553 139,227 4,719
DEPRECIATION
At 1 October 2022 3,008 72,784 2,783
Charge for year 232 9,947 257
At 30 September 2023 3,240 82,731 3,040
NET BOOK VALUE
At 30 September 2023 1,313 56,496 1,679
At 30 September 2022 1,545 62,943 203

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 October 2022 45,806 1,862 190,934
Additions - 485 5,718
At 30 September 2023 45,806 2,347 196,652
DEPRECIATION
At 1 October 2022 30,523 1,607 110,705
Charge for year 3,821 82 14,339
At 30 September 2023 34,344 1,689 125,044
NET BOOK VALUE
At 30 September 2023 11,462 658 71,608
At 30 September 2022 15,283 255 80,229

PIER 1 METALWORKS LIMITED (REGISTERED NUMBER: 04291520)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 September 2023

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 October 2022
and 30 September 2023 32,200
DEPRECIATION
At 1 October 2022 10,197
Charge for year 3,300
At 30 September 2023 13,497
NET BOOK VALUE
At 30 September 2023 18,703
At 30 September 2022 22,003

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 159,143 110,686
Other debtors 33,915 61,879
193,058 172,565

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 8,040 1,913
Hire purchase contracts 6,762 6,762
Trade creditors 84,786 118,754
Taxation and social security 36,576 32,431
Other creditors 3,604 4,769
139,768 164,629

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 37,503 45,445
Hire purchase contracts 1,125 6,748
38,628 52,193

PIER 1 METALWORKS LIMITED

REPORT OF THE ACCOUNTANTS TO THE DIRECTOR OF
PIER 1 METALWORKS LIMITED

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 30 September 2023 set out on pages three to nine and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Our report is prepared solely for the confidential use of the directors and should not be relied upon by any third party without prior reference to ourselves.






Taylor, Robertson & Willett Ltd
95 King Street
Lancaster
Lancashire
LA1 1RH


23 February 2024