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Registration number: 03234329


PBM Inspection Services Ltd

Directors' Report and Unaudited Financial Statements

for the Year Ended 31 August 2023

 

PBM Inspection Services Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

PBM Inspection Services Ltd

Company Information

Directors

Mr P B McAlpine

Mrs E Northam

Company secretary

Mrs M McAlpine

Registered office

C/O Howsons
Winton House
Stoke Road
Stoke on Trent
Staffordshire
ST4 2RW

Accountants

Howsons
Chartered Accountants
Winton House
Stoke Road
Stoke on Trent
Staffordshire
ST4 2RW

 

PBM Inspection Services Ltd

(Registration number: 03234329)
Balance Sheet as at 31 August 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

4,901

3,900

Current assets

 

Debtors

5

27,489

35,033

Cash at bank and in hand

 

35,605

39,893

 

63,094

74,926

Creditors: Amounts falling due within one year

6

(43,938)

(56,584)

Net current assets

 

19,156

18,342

Total assets less current liabilities

 

24,057

22,242

Creditors: Amounts falling due after more than one year

6

(20,000)

(20,000)

Net assets

 

4,057

2,242

Capital and reserves

 

Called up share capital

100

100

Retained earnings

3,957

2,142

Shareholders' funds

 

4,057

2,242

For the financial year ending 31 August 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of Financial Reporting Standard 102 (FRS 102) Section 1A - small entities.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 30 August 2024 and signed on its behalf by:
 

 

PBM Inspection Services Ltd

(Registration number: 03234329)
Balance Sheet as at 31 August 2023

.........................................
Mrs E Northam
Director

 

PBM Inspection Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
C/O Howsons
Winton House
Stoke Road
Stoke on Trent
Staffordshire
ST4 2RW

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The company's presentational currency is pound sterling (£). The accounts are rounded to the nearest whole pound.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

PBM Inspection Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

15%/25% straight line basis

Office equipment

33 1/3% straight line basis

Motor vehicles

25% straight line basis

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
Basic financial assets, including trade and other debtors, cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Such assets are subsequently carried at amortised cost using the effective interest method.
Basic financial liabilities, including trade and other trade creditors, bank and other loans, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

 Recognition and measurement
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit and loss.

 Impairment
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised in the profit or loss.

Financial assets are derecognised when a) the contractual rights to the cash flows from the asset expire or are settled, or b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

 

PBM Inspection Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 15 (2022 - 11).

4

Tangible assets

Furniture, fittings and equipment
 £

Office equipment
£

Total
£

Cost or valuation

At 1 September 2022

41,796

95,089

136,885

Additions

223

1,927

2,150

At 31 August 2023

42,019

97,016

139,035

Depreciation

At 1 September 2022

38,096

94,889

132,985

Charge for the year

788

361

1,149

At 31 August 2023

38,884

95,250

134,134

Carrying amount

At 31 August 2023

3,135

1,766

4,901

At 31 August 2022

3,700

200

3,900

5

Debtors

2023
£

2022
£

Trade debtors

4,512

6,189

Amounts owed by related parties

20,024

20,054

Prepayments

2,705

6,465

Other debtors

248

2,325

 

27,489

35,033

 

PBM Inspection Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

6

Creditors

Due within one year

2023
£

2022
£

Trade creditors

9,100

18,311

Taxation and social security

4,060

6,012

Other creditors

16,607

17,614

Director's loan account

14,171

14,647

43,938

56,584

No interest is charged on the director's loan account.

2023
£

2022
£

Due after one year

Directors' loan account

20,000

20,000

No interest is charged on the director's loan account.

7

Going Concern

At the date of approving these accounts, the directors consider the company to be a going concern. The directors continue to support the company.