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REGISTERED NUMBER: 07955335 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

PI (Lichfield) Limited

PI (Lichfield) Limited (Registered number: 07955335)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4

Chartered Accountant's Report 8

PI (Lichfield) Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: M Petrouis





REGISTERED OFFICE: Muckley Corner House
Walsall Road
Lichfield
WS14 0BG





REGISTERED NUMBER: 07955335 (England and Wales)





ACCOUNTANT: Groucott Moor Limited
Lombard House
Cross Keys
Lichfield
Staffordshire
WS13 6DN

PI (Lichfield) Limited (Registered number: 07955335)

Statement of Financial Position
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 100,135 75,853
Investments 5 8 8
100,143 75,861

CURRENT ASSETS
Stocks - 305
Debtors 6 354,901 1,492,161
Cash at bank and in hand 26,289 15,801
381,190 1,508,267
CREDITORS
Amounts falling due within one year 7 664,102 1,719,583
NET CURRENT LIABILITIES (282,912 ) (211,316 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(182,769

)

(135,455

)

CAPITAL AND RESERVES
Called up share capital 8 1 1
Retained earnings (182,770 ) (135,456 )
SHAREHOLDERS' FUNDS (182,769 ) (135,455 )

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 director acknowledges his 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.

PI (Lichfield) Limited (Registered number: 07955335)

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 June 2024 and were signed by:





M Petrouis - Director


PI (Lichfield) Limited (Registered number: 07955335)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

PI (Lichfield) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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


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.

Related party exemption
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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - 5% on cost
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 20% on reducing balance



Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

PI (Lichfield) Limited (Registered number: 07955335)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Deferred tax
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Investments
Fixed asset investments are stated at cost less provision for permanent diminution in value.

Group accounts
The company is entitled to the exemption under Section 398 of the Companies Act 2006 from the obligation to prepare group accounts.

Going concern
The accounts are prepared on a going concern basis despite the net liabilities position at the balance sheet date. The business is fully supported by the director.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2022 - 16 ) .

PI (Lichfield) Limited (Registered number: 07955335)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Long Plant and and Motor
leasehold machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 January 2023 91,667 10,106 23,185 5,417 130,375
Additions - - - 32,371 32,371
At 31 December 2023 91,667 10,106 23,185 37,788 162,746
DEPRECIATION
At 1 January 2023 30,913 5,050 16,609 1,950 54,522
Charge for year 1,833 531 1,315 4,410 8,089
At 31 December 2023 32,746 5,581 17,924 6,360 62,611
NET BOOK VALUE
At 31 December 2023 58,921 4,525 5,261 31,428 100,135
At 31 December 2022 60,754 5,056 6,576 3,467 75,853

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023
and 31 December 2023 8
NET BOOK VALUE
At 31 December 2023 8
At 31 December 2022 8

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 238,692 472,477
Other debtors 107,773 991,555
Prepayments 8,436 28,129
354,901 1,492,161

PI (Lichfield) Limited (Registered number: 07955335)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 59,126 49,191
Social security and other taxes 18,845 48,211
VAT 54,161 354,559
Other creditors 529,211 1,264,994
Directors' current accounts 14 24
Accrued expenses 2,745 2,604
664,102 1,719,583

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
1 Ordinary £1 1 1

9. ULTIMATE CONTROLLING PARTY

The company is controlled by M Petrouis, who owns 100% of the issued share capital.

Chartered Accountant's Report to the Director
on the Unaudited Financial Statements of
PI (Lichfield) Limited

The following reproduces the text of the report prepared for the director 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 Director 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, I have prepared for your approval the financial statements of PI (Lichfield) Limited for the year ended 31 December 2023 which comprise the Income Statement, Statement of Financial Position, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given me.

As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), I am 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 director of PI (Lichfield) Limited in accordance with my terms of engagement. My work has been undertaken solely to prepare for your approval the financial statements of PI (Lichfield) Limited and state those matters that I have agreed to state to the director of PI (Lichfield) Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than PI (Lichfield) Limited and its director for my work or for this report.

It is your duty to ensure that PI (Lichfield) Limited 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 loss of PI (Lichfield) Limited. You consider that PI (Lichfield) Limited is exempt from the statutory audit requirement for the year.

I have not been instructed to carry out an audit or a review of the financial statements of PI (Lichfield) Limited. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.






Groucott Moor Limited
Lombard House
Cross Keys
Lichfield
Staffordshire
WS13 6DN


25 June 2024