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REGISTERED NUMBER: 01229911 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

P&L INDUSTRIAL EQUIPMENT LIMITED

P&L INDUSTRIAL EQUIPMENT LIMITED (REGISTERED NUMBER: 01229911)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Balance Sheet 1

Notes to the Financial Statements 3


P&L INDUSTRIAL EQUIPMENT LIMITED (REGISTERED NUMBER: 01229911)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 24,836 22,505

CURRENT ASSETS
Stocks 227,106 303,757
Debtors 5 376,093 343,753
Cash at bank and in hand 234,571 223,964
837,770 871,474
CREDITORS
Amounts falling due within one year 6 514,183 507,972
NET CURRENT ASSETS 323,587 363,502
TOTAL ASSETS LESS CURRENT
LIABILITIES

348,423

386,007

CREDITORS
Amounts falling due after more than one year 7 (45,500 ) (87,500 )

PROVISIONS FOR LIABILITIES (6,209 ) (5,626 )
NET ASSETS 296,714 292,881

CAPITAL AND RESERVES
Called up share capital 5,160 5,160
Retained earnings 291,554 287,721
SHAREHOLDERS' FUNDS 296,714 292,881

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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&L INDUSTRIAL EQUIPMENT LIMITED (REGISTERED NUMBER: 01229911)

BALANCE SHEET - continued
31 MARCH 2024


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 July 2024 and were signed on its behalf by:





R P Jones - Director


P&L INDUSTRIAL EQUIPMENT LIMITED (REGISTERED NUMBER: 01229911)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

P&L Industrial Equipment Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 01229911 and the registered office address is Britannia House Unit 3, Edwin Road, Manchester, M11 3ER.

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 represents net invoiced sales of goods, excluding value added tax and is recognised at the point the goods are despatched to the customers.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 15% on cost
Motor vehicles - 25% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value. Cost includes direct materials and labour costs and also those overheads that have been incurred in bringing the stock to its present location and condition. Net realisable value represents sales value less appropriate selling expenses.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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.

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.

P&L INDUSTRIAL EQUIPMENT LIMITED (REGISTERED NUMBER: 01229911)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 13 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 April 2023 9,874 28,111 27,415 65,400
Additions - 382 6,500 6,882
At 31 March 2024 9,874 28,493 33,915 72,282
DEPRECIATION
At 1 April 2023 9,871 13,629 19,395 42,895
Charge for year 1 2,545 2,005 4,551
At 31 March 2024 9,872 16,174 21,400 47,446
NET BOOK VALUE
At 31 March 2024 2 12,319 12,515 24,836
At 31 March 2023 3 14,482 8,020 22,505

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 93,424 89,310
Other debtors 282,669 254,443
376,093 343,753

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 42,000 42,000
Trade creditors 320,559 314,007
Taxation and social security 134,244 122,158
Other creditors 17,380 29,807
514,183 507,972

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 45,500 87,500

P&L INDUSTRIAL EQUIPMENT LIMITED (REGISTERED NUMBER: 01229911)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 21,496 20,783
Between one and five years 15,101 3,159
36,597 23,942

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 87,500 129,500