52 false false false false false false false false false false true false false false false true true No description of principal activity 2023-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023 128,808 56,857 11,681 68,538 60,270 71,951 xbrli:pure xbrli:shares iso4217:GBP 3681420 2023-01-01 2023-12-31 3681420 2023-12-31 3681420 2022-12-31 3681420 2022-01-01 2022-12-31 3681420 2022-12-31 3681420 2021-12-31 3681420 core:NetGoodwill 2023-01-01 2023-12-31 3681420 core:LandBuildings 2023-01-01 2023-12-31 3681420 core:FurnitureFittings 2023-01-01 2023-12-31 3681420 core:MotorVehicles 2023-01-01 2023-12-31 3681420 bus:Director3 2023-01-01 2023-12-31 3681420 core:NetGoodwill 2022-12-31 3681420 core:NetGoodwill 2023-12-31 3681420 core:LandBuildings 2022-12-31 3681420 core:FurnitureFittings 2022-12-31 3681420 core:MotorVehicles 2022-12-31 3681420 core:LandBuildings 2023-12-31 3681420 core:FurnitureFittings 2023-12-31 3681420 core:MotorVehicles 2023-12-31 3681420 core:WithinOneYear 2023-12-31 3681420 core:WithinOneYear 2022-12-31 3681420 core:AfterOneYear 2023-12-31 3681420 core:AfterOneYear 2022-12-31 3681420 core:ShareCapital 2023-12-31 3681420 core:ShareCapital 2022-12-31 3681420 core:RetainedEarningsAccumulatedLosses 2023-12-31 3681420 core:RetainedEarningsAccumulatedLosses 2022-12-31 3681420 core:NetGoodwill 2022-12-31 3681420 core:LandBuildings 2022-12-31 3681420 core:FurnitureFittings 2022-12-31 3681420 core:MotorVehicles 2022-12-31 3681420 core:LeasedAssetsHeldAsLessee core:MotorVehicles 2023-12-31 3681420 core:LeasedAssetsHeldAsLessee 2023-12-31 3681420 core:LeasedAssetsHeldAsLessee core:MotorVehicles 2022-12-31 3681420 core:LeasedAssetsHeldAsLessee 2022-12-31 3681420 bus:SmallEntities 2023-01-01 2023-12-31 3681420 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 3681420 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 3681420 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 3681420 bus:FullAccounts 2023-01-01 2023-12-31
COMPANY REGISTRATION NUMBER: 3681420
Pullman Instruments (UK) Limited
Filleted Unaudited Financial Statements
31 December 2023
Pullman Instruments (UK) Limited
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
£
Fixed assets
Intangible assets
5
60,270
71,951
Tangible assets
6
687,260
586,715
---------
---------
747,530
658,666
Current assets
Stocks
93,985
151,704
Debtors
7
1,944,117
1,912,400
Cash at bank and in hand
381,002
93,313
------------
------------
2,419,104
2,157,417
Creditors: amounts falling due within one year
8
582,086
649,801
------------
------------
Net current assets
1,837,018
1,507,616
------------
------------
Total assets less current liabilities
2,584,548
2,166,282
Creditors: amounts falling due after more than one year
9
132,315
67,323
Provisions
Taxation including deferred tax
125,776
98,226
------------
------------
Net assets
2,326,457
2,000,733
------------
------------
Capital and reserves
Called up share capital
100
100
Profit and loss account
2,326,357
2,000,633
------------
------------
Shareholders funds
2,326,457
2,000,733
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Pullman Instruments (UK) Limited
Statement of Financial Position (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 17 July 2024 , and are signed on behalf of the board by:
Mr N Smith
Director
Company registration number: 3681420
Pullman Instruments (UK) Limited
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 3 Greengate, Cardale Park, Harrogate, North Yorkshire, HG3 1GY.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Statutory information
Pullman Instruments (UK) Limited is a private company, limited by shares, domiciled in England and Wales, registration number 3681420 . The registered office is 3 Greengate, Cardale Park, Harrogate, North Yorkshire, HG3 1GY.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. Its financial statements are consolidated into the financial statements of The Everett Smith Group Limited which can be obtained from Companies House. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: No cash flow statement has been presented for the company. Disclosures in respect of financial instruments have not been presented. Disclosures in respect of share-based payments have not been presented. No disclosure has been given for the aggregate remuneration of key management personnel.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
10% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Leasehold Property Improvements
-
2% straight line
Fixtures and Fittings
-
20% reducing balance
Motor Vehicles
-
25% reducing balance
Equipment
-
15 % reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either 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.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 52 (2022: 51 ).
5. Intangible assets
Goodwill
£
Cost
At 1 January 2023 and 31 December 2023
128,808
---------
Amortisation
At 1 January 2023
56,857
Charge for the year
11,681
---------
At 31 December 2023
68,538
---------
Carrying amount
At 31 December 2023
60,270
---------
At 31 December 2022
71,951
---------
6. Tangible assets
Land and buildings
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
Cost
At 1 January 2023
268,003
129,070
203,825
597,446
1,198,344
Additions
1,786
110,018
95,170
206,974
Disposals
( 79,952)
( 79,952)
---------
---------
---------
---------
------------
At 31 December 2023
268,003
130,856
233,891
692,616
1,325,366
---------
---------
---------
---------
------------
Depreciation
At 1 January 2023
7,029
122,649
135,292
346,659
611,629
Charge for the year
5,360
1,587
26,781
51,598
85,326
Disposals
( 58,849)
( 58,849)
---------
---------
---------
---------
------------
At 31 December 2023
12,389
124,236
103,224
398,257
638,106
---------
---------
---------
---------
------------
Carrying amount
At 31 December 2023
255,614
6,620
130,667
294,359
687,260
---------
---------
---------
---------
------------
At 31 December 2022
260,974
6,421
68,533
250,787
586,715
---------
---------
---------
---------
------------
Finance leases and hire purchase contracts
Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:
Motor vehicles
Equipment
Total
£
£
£
At 31 December 2023
116,600
47,862
164,462
---------
--------
---------
At 31 December 2022
49,063
49,063
---------
--------
---------
7. Debtors
2023
2022
£
£
Trade debtors
756,484
838,934
Amounts owed by group undertakings and undertakings in which the company has a participating interest
1,150,329
1,035,177
Other debtors
37,304
38,289
------------
------------
1,944,117
1,912,400
------------
------------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
9,834
9,695
Trade creditors
131,137
251,899
Amounts owed to group undertakings and undertakings in which the company has a participating interest
141,125
168,018
Corporation tax
68,607
35,691
Social security and other taxes
157,185
132,820
Other creditors
7,219
6,245
Other creditors
66,979
45,433
---------
---------
582,086
649,801
---------
---------
Amounts falling due within one year includes the following amounts on which security has been given by the company:
2023 2022
£ £
Bank loans 9,834 9,695
Hire purchase and finance lease agreements 49,451 23,284
9. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
17,600
27,573
Other creditors
114,715
39,750
---------
--------
132,315
67,323
---------
--------
Amounts falling due after one year includes the following amounts on which security has been given by the company:
2023 2022
£ £
Bank loans 17,600 27,573
Hire purchase and finance lease agreements 114,715 39,750
10. Directors' advances, credits and guarantees
There was no movement on the Director's Loan Accounts in the year.
11. Related party transactions
No transactions with related parties were undertaken such as are required to be disclosed under FRS 102.
12. Controlling party
The ultimate holding company is The Everett Smith Group Limited, a company incorporated in England and Wales. The Everett Smith Group Limited is controlled by Mr N Smith . The Everett Smith Group Limited's registered office is 3 Greengate, Cardale Park, Harrogate, North Yorkshire, HG3 1GY.