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Registered number: 02117413

P.E. Systems Limited

ACCOUNTS
FOR THE YEAR ENDED 31/12/2023


P.E. Systems Limited

ACCOUNTS
FOR THE YEAR ENDED 31/12/2023
DIRECTORS
Nicola Jones
Anouska Gee
Julie Nuttall
Mark Wilson
SECRETARY
Nicola Jones
REGISTERED OFFICE
Unit 2 Hindley Green Business Park
Hindley Green
Wigan
Lancs
WN2 4TN
COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number 02117413

P.E. Systems Limited

ACCOUNTS
FOR THEYEARENDED31/12/2023
CONTENTS
Page
Directors' Report-
Statement Of Comprehensive Income-
Balance Sheet3
Notes To The Accounts5
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account-
Profit And Loss Account Summaries-

P.E. Systems Limited

BALANCE SHEET AT 31/12/2023
20232022
Notes££
FIXED ASSETS
Intangible assets2428,815354,480
Tangible assets3694,875772,240
Investment Assets425,00025,000
1,148,6901,151,720
CURRENT ASSETS
Stock1,014,255789,696
Debtors61,338,2951,418,906
Cash at bank and in hand385,84740,001
2,738,3972,248,603
CREDITORS: Amounts falling due within one year72,619,0902,078,907
NET CURRENT ASSETS119,307169,696
TOTAL ASSETS LESS CURRENT LIABILITIES1,267,9971,321,416
CREDITORS: Amounts falling due after more than one year810,92921,765
PROVISIONS FOR LIABILITIES AND CHARGES10104,739199,809
NET ASSETS1,152,3291,099,842
CAPITAL AND RESERVES
Called up share capital111,0001,000
Other reserves12330,320365,320
Profit and loss account821,009733,522
SHAREHOLDERS' FUNDS1,152,3291,099,842

P.E. Systems Limited

BALANCE SHEET AT 31/12/2023
For the year ending 31/12/2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 31/07/2024 and signed on their behalf by
.............................
Nicola Jones
Director

P.E. Systems Limited

NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31/12/2023
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .
1b. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Plant and Machinerystraight line 25%
Commercial Vehiclesstraight line 25%
Fixtures and Fittingsstraight line 25%
Equipmentstraight line 25%
1c. Investment Properties
Investment properties are included in the financial statements at open market value. No depreciation is provided on such property in compliance with the Financial Reporting Standard for Smaller Entities. This departure from Companies Act requirements is necessary to show a true and fair view.
1d. Intangible Assets
Development expenditure is normally written off in the year of expenditure, however expenditure incurred on specific projects is capitalised when recoverability can be foreseen with reasonable certainty and is amortised in relation to sales from such projects.
1e. Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.

P.E. Systems Limited

1f. Pension Costs
The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year.
1g. Foreign Currency
Transactions in currencies, other than the functional currency of the company, are recorded at the rate of the exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. All differences are taken to the profit and loss account. Non-monetary items that are measured at the historic cost in a foreign currency are not retranslated.
1h. Investments
Fixed asset investments are shown at cost less amounts written off.
Provisions are made for permanent fluctuations in value.
2. INTANGIBLE FIXED ASSETS
Development
CostsPatentsTotal
£££
Cost
At 01/01/2023683,91565,803749,718
Additions69,43141,718111,149
At 31/12/2023753,346107,521860,867
Depreciation
At 01/01/2023395,238-395,238
For the year29,3857,42936,814
At 31/12/2023424,6237,429432,052
Net Book Amounts
At 31/12/2023328,723100,092428,815
At 31/12/2022288,67765,803354,480

P.E. Systems Limited

3. TANGIBLE FIXED ASSETS
Plant andCommercialFixtures
MachineryVehiclesand FittingsEquipmentTotal
£££££
Cost
At 01/01/2023389,781130,532262,753170,894953,960
Additions7,0921,81922,1548,33439,399
At 31/12/2023396,873132,351284,907179,228993,359
Depreciation
At 01/01/2023336,11382,707173,766134,134726,720
For the year20,09122,08431,0178,57281,764
At 31/12/2023356,204104,791204,783142,706808,484
Net Book Amounts
At 31/12/202340,66927,56080,12436,522184,875
At 31/12/202253,66847,82588,98736,760227,240
Included within the net book value of £184,875 is £27,560 (2022: £23,185) relating to assets under hire purchase agreements. The depreciation charged to the financial statements in the year in respect of such assets amounts to £14262 (2022: £20,649).
4. FINANCIAL ASSETS
Shares in group companies
and participating interestsTotal
££
Cost
At 01/01/202350,00250,002
At 31/12/202350,00250,002
Amortisation
At 01/01/202325,00225,002
At 31/12/202325,00225,002
Net Book Amounts
At 31/12/202325,00025,000
At 31/12/202225,00025,000
The amounts written off the above investment relate to impairment losses. The company owns 100% of the issued share capital of Alpha Sheet Metal (North) Limited.
The company's voting rights in respect of the subsidiary are held in the same proportion as the company's share of the ordinary share capital of the subsidiary. The company is registered in England and Wales.
The aggregate capital and reserves of Alpha Sheet Metal (North) Ltd at 31 December 2023 were -£479,851 (2022: -£409,964), the loss for the financial year is £69,887 (2022: £73,508).

P.E. Systems Limited

5. STOCK 20232022
££
Stock comprises:
Stock844,255670,922
Work in progress170,000118,774
1,014,255789,696
6. DEBTORS 20232022
££
Amounts falling due within one year
Trade debtors819,272987,025
Other debtors14,9032,144
Amounts due from group companies411,149351,837
Prepayments83,70562,886
Accrued income9,26615,014
1,338,2951,418,906
7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20232022
££
UK corporation tax85,59729,795
VAT193,79356,702
Salaries and wages control44,59438,301
Hire purchase11,29217,877
Trade creditors1,070,9951,831,959
Other creditors1,073,4462,372
Accruals139,373101,901
2,619,0902,078,907
HP agreements are secured over the assets to which they relate.
8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
20232022
££
Hire purchase >1yr10,92921,765
10,92921,765
HP agreements are secured over the assets to which they relate.

P.E. Systems Limited

9. EMPLOYEES
20232022
No.No.
Average number of employees4843
10. PROVISIONS FOR LIABILITIES 20232022
££
Deferred taxation39,95345,351
Other provisions64,786154,458
104,739199,809
Other provisions relate to rebates owed to customers, which is based on the percentage of sales in the financial year.
11. SHARE CAPITAL 20232022
££
Allotted, issued and fully paid:
1000 Class A shares of £1 each10001000
1,0001,000
12. OTHER RESERVES 20232022
££
Non-distributable reserve330,320365,320
330,320365,320
This reserve is used to record increases in the fair value of investment properties and decreases to the extent that such decreases relates to the same asset.
13. CONTROLLING PARTY
The company was under the control of its directors, who controlled the whole of the company's issued ordinary share capital throughtout the whole of the year and the previous year.

P.E. Systems Limited

14. RELATED PARTY TRANSACTIONS
The company is related to its parent company, PE Systems Holdings Ltd and its wholly owned subsidiary undertaking, Alpha Sheet Metal (North) Limited.
Included in debtors is £411,149 (2022:£344,571) owed by Alpha Sheet Metal (North) Limited, and in 2022:£7,266 owed by PE Systems Holdings Ltd.