P L Fabrications Limited 09138834 false 2022-08-01 2023-07-31 2023-07-31 The principal activity of the company is manufacturing and fabrication. Digita Accounts Production Advanced 6.30.9574.0 true 09138834 2022-08-01 2023-07-31 09138834 2023-07-31 09138834 core:RetainedEarningsAccumulatedLosses 2023-07-31 09138834 core:ShareCapital 2023-07-31 09138834 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 09138834 core:Non-currentFinancialInstruments core:AfterOneYear 2023-07-31 09138834 core:MotorVehicles 2023-07-31 09138834 core:OfficeEquipment 2023-07-31 09138834 core:PlantMachinery 2023-07-31 09138834 bus:SmallEntities 2022-08-01 2023-07-31 09138834 bus:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 09138834 bus:FullAccounts 2022-08-01 2023-07-31 09138834 bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 09138834 bus:Director2 2022-08-01 2023-07-31 09138834 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 09138834 core:MotorVehicles 2022-08-01 2023-07-31 09138834 core:OfficeEquipment 2022-08-01 2023-07-31 09138834 core:PlantMachinery 2022-08-01 2023-07-31 09138834 countries:AllCountries 2022-08-01 2023-07-31 09138834 2022-07-31 09138834 core:MotorVehicles 2022-07-31 09138834 core:OfficeEquipment 2022-07-31 09138834 core:PlantMachinery 2022-07-31 09138834 2021-08-01 2022-07-31 09138834 2022-07-31 09138834 core:RetainedEarningsAccumulatedLosses 2022-07-31 09138834 core:ShareCapital 2022-07-31 09138834 core:CurrentFinancialInstruments core:WithinOneYear 2022-07-31 09138834 core:Non-currentFinancialInstruments core:AfterOneYear 2022-07-31 09138834 core:MotorVehicles 2022-07-31 09138834 core:OfficeEquipment 2022-07-31 09138834 core:PlantMachinery 2022-07-31 iso4217:GBP xbrli:pure

Registration number: 09138834

P L Fabrications Limited

Unaudited Financial Statements

for the Year Ended 31 July 2023

 

P L Fabrications Limited

(Registration number: 09138834)

Balance Sheet as at 31 July 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

3

648

3,783

Current assets

 

Stocks

100

100

Debtors

4

40,404

54,646

Cash at bank and in hand

 

81,173

104,841

 

121,677

159,587

Creditors: Amounts falling due within one year

5

(100,546)

(100,021)

Net current assets

 

21,131

59,566

Total assets less current liabilities

 

21,779

63,349

Creditors: Amounts falling due after more than one year

5

(21,019)

(31,667)

Provisions for liabilities

(162)

(946)

Net assets

 

598

30,736

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

498

30,636

Shareholders' funds

 

598

30,736

For the financial year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Directors' Report and the Profit and Loss Account has been taken.

These financial statements, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A Small Entities, were approved and authorised for issue by the Board on 15 April 2024 and signed on its behalf by:
 

.........................................

P D Holt
Director

 

P L Fabrications Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

1

Accounting policies

Statutory information

P L Fabrications Limited is a private company, limited by shares, domiciled in England and Wales, company number 09138834. The registered office is at 26 Jackson Avenue, Westby, Blackpool, FY4 5QT.

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. The presentation currency is United Kingdom pounds sterling, which is the functional currency of the company. The financial statements are those of an individual entity.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax shall be recognised in respect of all timing differences at the reporting date, except as otherwise required by FRS102. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that 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 income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 

P L Fabrications Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023 (continued)

1

Accounting policies (continued)

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% straight line

Motor vehicles

25% straight line

Office equipment

33% straight line

Stocks

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Leases

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the statement of comprehensive income.
 

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2022 - 6).

 

P L Fabrications Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023 (continued)

3

Tangible assets

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 August 2022

42,130

11,030

6,100

59,260

At 31 July 2023

42,130

11,030

6,100

59,260

Depreciation

At 1 August 2022

40,278

9,099

6,100

55,477

Charge for the year

1,241

1,894

-

3,135

At 31 July 2023

41,519

10,993

6,100

58,612

Carrying amount

At 31 July 2023

611

37

-

648

At 31 July 2022

1,852

1,931

-

3,783

4

Debtors

2023
£

2022
£

Trade debtors

35,204

44,290

Prepayments

5,200

10,356

 

40,404

54,646

 

P L Fabrications Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023 (continued)

5

Creditors

2023
£

2022
£

Due within one year

Bank loan

10,648

10,000

Trade creditors

28,748

28,541

Taxation and social security

50,791

54,306

Other creditors

528

516

Directors' current accounts

756

132

Accruals

9,075

6,526

100,546

100,021

Due after one year

Bank loan

21,019

31,667

6

Financial commitments, guarantees and contingencies

Operating leases

As at the balance sheet date, the company had total commitments under non-cancellable operating leases over the remaining term of those leases of £65,706 (2022 - £110,454).