Pennine Geotechnical Services Limited 04894571 false 2022-08-01 2023-07-31 2023-07-31 The principal activity of the company is that of specialist construction services Digita Accounts Production Advanced 6.30.9574.0 true false 04894571 2022-08-01 2023-07-31 04894571 2023-07-31 04894571 bus:OrdinaryShareClass1 2023-07-31 04894571 core:CurrentFinancialInstruments 2023-07-31 04894571 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 04894571 core:OtherPropertyPlantEquipment 2023-07-31 04894571 bus:SmallEntities 2022-08-01 2023-07-31 04894571 bus:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 04894571 bus:AbridgedAccounts 2022-08-01 2023-07-31 04894571 bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 04894571 bus:RegisteredOffice 2022-08-01 2023-07-31 04894571 bus:CompanySecretary1 2022-08-01 2023-07-31 04894571 bus:Director4 2022-08-01 2023-07-31 04894571 bus:Director5 2022-08-01 2023-07-31 04894571 bus:OrdinaryShareClass1 2022-08-01 2023-07-31 04894571 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 04894571 core:OtherPropertyPlantEquipment 2022-08-01 2023-07-31 04894571 core:PlantMachinery 2022-08-01 2023-07-31 04894571 core:ParentEntities 2022-08-01 2023-07-31 04894571 1 2022-08-01 2023-07-31 04894571 countries:AllCountries 2022-08-01 2023-07-31 04894571 2022-07-31 04894571 core:OtherPropertyPlantEquipment 2022-07-31 04894571 2021-08-01 2022-07-31 04894571 2022-07-31 04894571 bus:OrdinaryShareClass1 2022-07-31 04894571 core:CurrentFinancialInstruments 2022-07-31 04894571 core:CurrentFinancialInstruments core:WithinOneYear 2022-07-31 04894571 core:OtherPropertyPlantEquipment 2022-07-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 04894571

Pennine Geotechnical Services Limited

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 July 2023

 

Pennine Geotechnical Services Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 7

 

Pennine Geotechnical Services Limited

Company Information

Directors

D M Garvey

M C Griffiths

Company secretary

M-F Dakhli

Registered office

234 College Road
Rochdale
OL12 6AF

 

Pennine Geotechnical Services Limited

(Registration number: 04894571)
Abridged Balance Sheet as at 31 July 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

12,299

15,822

Current assets

 

Debtors

5

1,091,195

848,092

Cash at bank and in hand

 

377,863

174,770

 

1,469,058

1,022,862

Creditors: Amounts falling due within one year

(568,443)

(624,602)

Net current assets

 

900,615

398,260

Total assets less current liabilities

 

912,914

414,082

Provisions for liabilities

(2,122)

(2,122)

Accruals and deferred income

 

(341,134)

(33,595)

Net assets

 

569,658

378,365

Capital and reserves

 

Called up share capital

6

2

2

Retained earnings

569,656

378,363

Shareholders' funds

 

569,658

378,365

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.

 

Pennine Geotechnical Services Limited

(Registration number: 04894571)
Abridged Balance Sheet as at 31 July 2023

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements 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.

Approved and authorised by the Board on 17 April 2024 and signed on its behalf by:
 

D M Garvey
Director

M C Griffiths
Director

 
     
 

Pennine Geotechnical Services Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
234 College Road
Rochdale
OL12 6AF

These financial statements were authorised for issue by the Board on 17 April 2024.

2

Accounting policies

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 abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged 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.

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.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current 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.

 

Pennine Geotechnical Services Limited

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

over 7 to 10 years on a straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

 

Pennine Geotechnical Services Limited

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

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 12 (2022 - 12).

4

Tangible assets

Other tangible assets
£

Total
£

Cost or valuation

At 1 August 2022

134,137

134,137

At 31 July 2023

134,137

134,137

Depreciation

At 1 August 2022

118,315

118,315

Charge for the year

3,523

3,523

At 31 July 2023

121,838

121,838

Carrying amount

At 31 July 2023

12,299

12,299

At 31 July 2022

15,822

15,822

5

Debtors

Debtors includes £Nil (2022 - £Nil) due after more than one year.

6

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

         
 

Pennine Geotechnical Services Limited

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

7

Dividends

   

2023

 

2022

   

£

 

£

Interim dividend of £225,000.00 (2022 - £135,000.00) per ordinary share

 

450,000

 

270,000

         

8

Related party transactions

Summary of transactions with parent

Pennine Drilling & Grouting Services Ltd is the parent undertaking. During the year purchases from the parent undertaking amounted to £191,987 (2022 - £404,240) and dividends paid to the parent undertaking amounted to £450,000 (2022 - £270,000). At the balance sheet date the amount due from the parent undertaking was £181,631 (2022 - £7,889).
 

9

Parent and ultimate parent undertaking

The company's immediate parent is Pennine Drilling & Grouting Services Ltd., incorporated in England & Wales.

 The ultimate parent is Geotechnical Drilling Ltd, incorporated in England & Wales.