IRIS Accounts Production v24.1.9.2 03626404 Board of Directors Board of Directors 1.1.23 31.12.23 31.12.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh036264042022-12-31036264042023-12-31036264042023-01-012023-12-31036264042021-12-31036264042022-01-012022-12-31036264042022-12-3103626404ns15:EnglandWales2023-01-012023-12-3103626404ns14:PoundSterling2023-01-012023-12-3103626404ns10:Director12023-01-012023-12-3103626404ns10:Director22023-01-012023-12-3103626404ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3103626404ns10:SmallEntities2023-01-012023-12-3103626404ns10:AuditExemptWithAccountantsReport2023-01-012023-12-3103626404ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3103626404ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3103626404ns10:FullAccounts2023-01-012023-12-3103626404ns10:Director32023-01-012023-12-3103626404ns10:CompanySecretary12023-01-012023-12-3103626404ns10:RegisteredOffice2023-01-012023-12-3103626404ns5:CurrentFinancialInstruments2023-12-3103626404ns5:CurrentFinancialInstruments2022-12-3103626404ns5:Non-currentFinancialInstruments2023-12-3103626404ns5:Non-currentFinancialInstruments2022-12-3103626404ns5:ShareCapital2023-12-3103626404ns5:ShareCapital2022-12-3103626404ns5:RetainedEarningsAccumulatedLosses2023-12-3103626404ns5:RetainedEarningsAccumulatedLosses2022-12-3103626404ns5:LeaseholdImprovements2022-12-3103626404ns5:PlantMachinery2022-12-3103626404ns5:FurnitureFittings2022-12-3103626404ns5:LeaseholdImprovements2023-01-012023-12-3103626404ns5:PlantMachinery2023-01-012023-12-3103626404ns5:FurnitureFittings2023-01-012023-12-3103626404ns5:LeaseholdImprovements2023-12-3103626404ns5:PlantMachinery2023-12-3103626404ns5:FurnitureFittings2023-12-3103626404ns5:LeaseholdImprovements2022-12-3103626404ns5:PlantMachinery2022-12-3103626404ns5:FurnitureFittings2022-12-3103626404ns5:MotorVehicles2022-12-3103626404ns5:ComputerEquipment2022-12-3103626404ns5:MotorVehicles2023-01-012023-12-3103626404ns5:ComputerEquipment2023-01-012023-12-3103626404ns5:MotorVehicles2023-12-3103626404ns5:ComputerEquipment2023-12-3103626404ns5:MotorVehicles2022-12-3103626404ns5:ComputerEquipment2022-12-3103626404ns5:LeasedAssetsHeldAsLessee2023-01-012023-12-3103626404ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3103626404ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3103626404ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2023-12-3103626404ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2022-12-3103626404ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-12-3103626404ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2022-12-3103626404ns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3103626404ns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3103626404ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2023-12-3103626404ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2022-12-3103626404ns5:HirePurchaseContracts2023-12-3103626404ns5:HirePurchaseContracts2022-12-3103626404ns5:WithinOneYear2023-12-3103626404ns5:WithinOneYear2022-12-3103626404ns5:BetweenOneFiveYears2023-12-3103626404ns5:BetweenOneFiveYears2022-12-3103626404ns5:AllPeriods2023-12-3103626404ns5:AllPeriods2022-12-3103626404ns5:Secured2023-12-3103626404ns5:Secured2022-12-3103626404ns5:DeferredTaxation2022-12-3103626404ns5:DeferredTaxation2023-01-012023-12-3103626404ns5:DeferredTaxation2023-12-31
REGISTERED NUMBER: 03626404 (England and Wales)















P.B. ASHER DIESEL INJECTION
ENGINEERS LTD.

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023






P.B. ASHER DIESEL INJECTION
ENGINEERS LTD. (REGISTERED NUMBER: 03626404)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Accountants' Report 2

Statement of Financial Position 3

Notes to the Financial Statements 5


P.B. ASHER DIESEL INJECTION
ENGINEERS LTD.

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mr B W P Cross
Mrs H Schumacher
Mr M Cross





SECRETARY: Mr B W P Cross





REGISTERED OFFICE: Fryern House
125 Winchester Road
Chandlers Ford
Hampshire
SO53 2DR





REGISTERED NUMBER: 03626404 (England and Wales)





ACCOUNTANTS: Rothmans CF Limited
Fryern House
125 Winchester Road
Chandlers Ford
Hampshire
SO53 2DR

ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
P.B. ASHER DIESEL INJECTION
ENGINEERS LTD.


The following reproduces the text of the report prepared for the directors 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 Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of P.B. Asher Diesel Injection Engineers Ltd. for the year ended 31 December 2023 which comprise the Statement of Income and Retained Earnings, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of P.B. Asher Diesel Injection Engineers Ltd., as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of P.B. Asher Diesel Injection Engineers Ltd. and state those matters that we have agreed to state to the Board of Directors of P.B. Asher Diesel Injection Engineers Ltd., as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than P.B. Asher Diesel Injection Engineers Ltd. and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that P.B. Asher Diesel Injection Engineers Ltd. has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of P.B. Asher Diesel Injection Engineers Ltd.. You consider that P.B. Asher Diesel Injection Engineers Ltd. is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of P.B. Asher Diesel Injection Engineers Ltd.. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Rothmans CF Limited
Fryern House
125 Winchester Road
Chandlers Ford
Hampshire
SO53 2DR


7 August 2024

P.B. ASHER DIESEL INJECTION
ENGINEERS LTD. (REGISTERED NUMBER: 03626404)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 410,209 456,795

CURRENT ASSETS
Stocks 5 975,455 776,600
Debtors 6 1,506,082 1,137,187
Cash at bank and in hand 201,751 260,133
2,683,288 2,173,920
CREDITORS
Amounts falling due within one year 7 2,347,368 1,878,729
NET CURRENT ASSETS 335,920 295,191
TOTAL ASSETS LESS CURRENT
LIABILITIES

746,129

751,986

CREDITORS
Amounts falling due after more than one
year

8

(94,633

)

(173,584

)

PROVISIONS FOR LIABILITIES 11 (100,434 ) (105,639 )
NET ASSETS 551,062 472,763

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 550,962 472,663
SHAREHOLDERS' FUNDS 551,062 472,763

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.B. ASHER DIESEL INJECTION
ENGINEERS LTD. (REGISTERED NUMBER: 03626404)

STATEMENT OF FINANCIAL POSITION - continued
31 DECEMBER 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 Board of Directors and authorised for issue on 7 August 2024 and were signed on its behalf by:




Mrs H Schumacher - Director



Mr B W P Cross - Director


P.B. ASHER DIESEL INJECTION
ENGINEERS LTD. (REGISTERED NUMBER: 03626404)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

P B Asher Diesel Injection Engineers Ltd is a private company, limited by shares, registered in England and Wales. The company's registered number is 03626404 and the registered office address is Fryern House, 125 Winchester Road, Chandlers Ford, Hampshire, SO53 2DR.

2. ACCOUNTING POLICIES

Accounting convention
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.

The presentation currency of the financial statements is the Pound Sterling (£).

Going concern
The financial statements have been prepared on the going concern basis.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date, and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates.

There have been no judgements and estimates which have had the significant effect on amounts recognised in the financial statements during the year.

Turnover
Turnover represents part sales, servicing and repairs carried out during the year (excluding the value added tax), adjusted for accrued and deferred income where applicable. Revenue is recognised on provision of the service.

Tangible fixed assets
All fixed assets are initially recognised at cost and subsequently carried at cost less accumulated depreciation.

The cost of fixed assets initially recognised includes its purchase price and any cost that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in a manner intended by management.

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Improvements to propertyOver the period of the lease
Plant and machinery10%-25% straight line
Fixtures and fittings10% on cost
Motor vehicles 20% on cost
Computer equipment20% on cost

The assets' residual values and useful lives are reviewed and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for prospectively.

Fixed assets are derecognised on disposal or when no future economic benefits are expected. On disposal, the difference between the net disposal proceeds and the carrying amount is recognised in the income statement.

Stocks
Stock is valued at the lower of cost and net realisable value, after making due allowances for obsolete and slow moving items. Costs includes any expenditure incurred in bringing the stock to its present location and condition. A 'first in first out' basis is used.

Financial instruments
The company only has financial assets and liabilities of the kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and debt instruments are subsequently measured at amortised cost.

P.B. ASHER DIESEL INJECTION
ENGINEERS LTD. (REGISTERED NUMBER: 03626404)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

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 tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Where assets are financed by leasing agreements that give rights approximating to ownership, the assets are treated as if they have been purchased outright. The amount capitalised is their fair value of the asset concerned. The corresponding liability to the leasing company is included as an obligation under finance leases. Depreciation on leased assets is charged to the Income Statement over the shorter of the lease term and their useful life. Leasing payments are treated as consisting of capital and interest elements, and interest is charged to the Income Statement on a straight line basis which is considered to be a reasonable approximation to a constant rate of charge on the outstanding balance.

All other leases are treated as 'operating leases' and the relevant annual rentals are charged to the Income Statement on a straight line basis over the lease term.

Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Pension costs
The company operates a defined contribution scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension costs charge represents contributions payable for the period by the company to the fund.

Grants
Grants of a revenue nature are credited to the Income Statement in the period to which they relate in accordance with the terms of the grant. Any accrued or deferred element of the grant is included in debtors or creditors as applicable.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 34 (2022 - 33 ) .

P.B. ASHER DIESEL INJECTION
ENGINEERS LTD. (REGISTERED NUMBER: 03626404)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


4. TANGIBLE FIXED ASSETS
Fixtures
Improvements Plant and and
to property machinery fittings
£ £ £
COST
At 1 January 2023 152,731 790,394 68,273
Additions - 31,588 -
Disposals - (4,420 ) -
At 31 December 2023 152,731 817,562 68,273
DEPRECIATION
At 1 January 2023 152,731 402,739 56,066
Charge for year - 57,238 1,701
Eliminated on disposal - (2,551 ) -
At 31 December 2023 152,731 457,426 57,767
NET BOOK VALUE
At 31 December 2023 - 360,136 10,506
At 31 December 2022 - 387,655 12,207

Motor Computer
vehicles equipment Totals
£ £ £
COST
At 1 January 2023 91,182 90,303 1,192,883
Additions - - 31,588
Disposals - - (4,420 )
At 31 December 2023 91,182 90,303 1,220,051
DEPRECIATION
At 1 January 2023 49,097 75,455 736,088
Charge for year 11,246 6,120 76,305
Eliminated on disposal - - (2,551 )
At 31 December 2023 60,343 81,575 809,842
NET BOOK VALUE
At 31 December 2023 30,839 8,728 410,209
At 31 December 2022 42,085 14,848 456,795

The net book value of tangible fixed assets includes £150,796 (2022: £186,341) in respect of assets held under hire purchase contracts.

5. STOCKS
2023 2022
£ £
Stocks 975,455 776,600

P.B. ASHER DIESEL INJECTION
ENGINEERS LTD. (REGISTERED NUMBER: 03626404)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 1,209,697 916,599
Other debtors 95,125 46,274
Directors' current accounts 189,920 160,407
VAT 4,550 13,684
Prepayments and accrued income 6,790 223
1,506,082 1,137,187

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Bank loans and overdrafts 564,864 501,457
Hire purchase contracts (see note 9) 51,300 49,921
Trade creditors 1,004,925 769,598
Amounts owed to group undertakings 195,389 125,389
Corporation tax 145,222 50,988
Social security and other taxes 71,542 37,236
Other creditors 239,329 312,490
Directors' current accounts 11,793 9,380
Accruals and deferred income 63,004 22,270
2,347,368 1,878,729

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£ £
Bank loans - 1-2 years 33,505 41,587
Bank loans 6,667 40,172
Hire purchase contracts (see note 9) 54,461 91,825
94,633 173,584

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£ £
Net obligations repayable:
Within one year 51,300 49,921
Between one and five years 54,461 91,825
105,761 141,746

P.B. ASHER DIESEL INJECTION
ENGINEERS LTD. (REGISTERED NUMBER: 03626404)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


9. LEASING AGREEMENTS - continued

Non-cancellable
operating leases
2023 2022
£ £
Within one year 128,445 95,838
Between one and five years 399,813 10,583
528,258 106,421

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£ £
Bank overdraft - 3,007
Hire purchase contracts 105,761 141,746
Invoice financing 523,277 458,694
Bank loans 81,759 121,515
710,797 724,962

11. PROVISIONS FOR LIABILITIES
2023 2022
£ £
Deferred tax 100,434 105,639

Deferred tax
£
Balance at 1 January 2023 105,639
Credit to Statement of Income and Retained Earnings during year (5,205 )
Balance at 31 December 2023 100,434

The above deferred tax balance relates to accelerated capital allowances.

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

20232022
££

Balance outstanding at start of year160,407122,095
Amounts advanced 49,51438,312
Amounts repaid(20,000)
189,920160,407

P.B. ASHER DIESEL INJECTION
ENGINEERS LTD. (REGISTERED NUMBER: 03626404)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


13. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

14. ULTIMATE CONTROLLING PARTY

The immediate and ultimate parent company is PBA Diesel Holdings Limited, a company registered in England and Wales.

The directors do not consider there to be an ultimate controlling party.