Registered number: 3922349 | ||||||||
FOR THE YEAR ENDED 30/04/2024 | ||||||||
Prepared By: | ||||||||
NB Lancaster & Co | ||||||||
Chartered Accountants | ||||||||
6 Brunswick Street | ||||||||
Carlisle | ||||||||
Cumbria | ||||||||
CA1 1PN |
PMS Fabrications Limited | ||||||||
ACCOUNTS | ||||||||
FOR THE YEAR ENDED 30/04/2024 | ||||||||
DIRECTORS | ||||||||
SECRETARY | ||||||||
REGISTERED OFFICE | ||||||||
COMPANY DETAILS | ||||||||
Private company limited by shares registered in EW - England and Wales, registered number 3922349 | ||||||||
ACCOUNTANTS | ||||||||
NB Lancaster & Co | ||||||||
Chartered Accountants | ||||||||
6 Brunswick Street | ||||||||
Carlisle | ||||||||
Cumbria | ||||||||
CA1 1PN |
PMS Fabrications Limited | ||||||||
ACCOUNTS | ||||||||
FOR THEYEARENDED30/04/2024 | ||||||||
CONTENTS | ||||||||
Page | ||||||||
Directors' Report | - | |||||||
Accountants' Report | - | |||||||
Statement Of Comprehensive Income | - | |||||||
Balance Sheet | 3 | |||||||
Notes To The Accounts | 4 | |||||||
The following do not form part of the statutory financial statements: | ||||||||
Trading And Profit And Loss Account | - | |||||||
Profit And Loss Account Summaries | - |
PMS Fabrications Limited | ||||||||
BALANCE SHEET AT | ||||||||||
2024 | 2023 | |||||||||
Notes | £ | £ | ||||||||
FIXED ASSETS | ||||||||||
Tangible assets | 2 | |||||||||
CURRENT ASSETS | ||||||||||
Stock | ||||||||||
Debtors | 3 | |||||||||
Cash at bank and in hand | ||||||||||
4,814,763 | 4,183,319 | |||||||||
CREDITORS: Amounts falling due within one year | 4 | |||||||||
NET CURRENT ASSETS | 2,532,666 | |||||||||
TOTAL ASSETS LESS CURRENT LIABILITIES | ||||||||||
CREDITORS: Amounts falling due after more than one year | 5 | 161,502 | 135,806 | |||||||
PROVISIONS FOR LIABILITIES AND CHARGES | ||||||||||
NET ASSETS | ||||||||||
CAPITAL AND RESERVES | ||||||||||
Called up share capital | ||||||||||
Profit and loss account | 3,777,176 | 3,013,112 | ||||||||
SHAREHOLDERS' FUNDS | ||||||||||
Approved by the board on | ||||||||||
............................. | ||||||||||
Director | ||||||||||
PMS Fabrications Limited | ||||||||
NOTES TO THE ACCOUNTS | ||||||||||
FOR THE YEAR ENDED 30/04/2024 | ||||||||||
1. ACCOUNTING POLICIES |
1a. Basis Of Accounting FRS 1021 a | ||||||||
The accounts have been prepared under the historical cost convention and FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland, including the disclosure and presentation requirements of section 1A applicable to small companies. |
1b. Depreciation | ||||||||
Property Improvements | straight line 4% | |||||||
Plant and Equipment | reducing balance 25% | |||||||
Motor Vehicles | reducing balance 25% |
1c. Stocks | ||||||||
Stock is valued at the lower of cost and net estimated selling price less selling costs. Cost is based on a weighted average purchase price. | ||||||||
Work in progress includes a relevant proportion of overheads according to the stage of completion. |
1d. Taxation | ||||||||
Corporation tax payable is provided on taxable profits at the current rates. | ||||||||
Provision is made for deferred taxation in so far as a liability or asset has arisen as a result of transactions that had occurred by the balance sheet date and have given rise to an obligation to pay more tax in the future, or the right to pay less tax in the future. An asset has not been recognised to the extent that the transfer of economic benefits in the future is uncertain. |
1e. 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. |
1f. Turnover | ||||||||
Turnover represents the invoiced value of goods and services supplied by the company, net of value added tax and trade discounts. |
1g. Government Grants | ||||||||
Government grants offering immediate financial assistance in relation to Covid-19 are recognised in profit and loss in the year in which they are received. |
PMS Fabrications Limited | ||||||||
1h. Leases | ||||||||
Assets held under hire purchase contracts are capitalised in the balance sheet at their fair value and depreciated over their expected useful lives. The related obligations, net of future finance charges, are included in creditors. The interest element of payments is charged to the profit and loss account over the period of the lease. | ||||||||
All other leases are regarded as operating leases and the payments made under them are charged to the profit and loss account on a straight line basis over the lease term. |
2. TANGIBLE FIXED ASSETS | ||||||||
Property | Plant and | |||||||
Improvements | Equipment | Motor Vehicles | Total | |||||
£ | £ | £ | £ | |||||
Cost | ||||||||
At 01/05/2023 | 381,684 | 1,492,411 | 364,657 | 2,238,752 | ||||
Additions | - | 261,322 | 62,742 | 324,064 | ||||
Disposals | - | - | (17,750) | (17,750) | ||||
At 30/04/2024 | 381,684 | 1,753,733 | 409,649 | 2,545,066 | ||||
Depreciation | ||||||||
At 01/05/2023 | 139,201 | 1,156,433 | 259,527 | 1,555,161 | ||||
Disposals | - | - | (17,126) | (17,126) | ||||
For the year | 15,267 | 149,325 | 41,812 | 206,404 | ||||
At 30/04/2024 | 154,468 | 1,305,758 | 284,213 | 1,744,439 | ||||
Net Book Amounts | ||||||||
At 30/04/2024 | 227,216 | 447,975 | 125,436 | 800,627 | ||||
At 30/04/2023 | 242,483 | 335,978 | 105,130 | 683,591 | ||||
3. DEBTORS | 2024 | 2023 | ||||||
£ | £ | |||||||
Amounts falling due within one year | ||||||||
Trade debtors | 1,535,942 | 1,296,083 | ||||||
VAT | - | 123,648 | ||||||
Other debtors | 1,605,142 | 101,667 | ||||||
Directors current account - D J Musgrave | 14,529 | 8,401 | ||||||
Directors current account - K G Potter | 62,077 | - | ||||||
3,217,690 | 1,529,799 | |||||||
PMS Fabrications Limited | ||||||||
4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||||
2024 | 2023 | |||||||
£ | £ | |||||||
UK corporation tax | 273,227 | 240,044 | ||||||
VAT | 163,219 | - | ||||||
Other tax and social security creditors | 3,029 | 35,184 | ||||||
Directors current account - K G Potter | - | 19,533 | ||||||
Hire purchase | 165,057 | 96,071 | ||||||
Trade creditors | 919,843 | 1,242,700 | ||||||
Other creditors | 19,360 | 5,457 | ||||||
Accruals | 8,500 | 11,664 | ||||||
1,552,235 | 1,650,653 | |||||||
5. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR | ||||||||
2024 | 2023 | |||||||
£ | £ | |||||||
Hire purchase >1yr | 161,502 | 135,806 | ||||||
161,502 | 135,806 | |||||||
6. SECURED CREDITORS | ||||||||
2024 | 2023 | |||||||
£ | £ | |||||||
Amount of other creditors which are secured | 326,559 | 231,877 | ||||||
Hire purchase creditors are secured on the assets to which the liabilities relate. | ||||||||
7. EMPLOYEES | ||||||
2024 | 2023 | |||||
No. | No. | |||||
Average number of employees | 48 | |||||
PMS Fabrications Limited | ||||||||
8. RELATED PARTY TRANSACTIONS | |||||||||||||||||||||||||||||||||||||
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9. GUARANTEES AND OTHER FINANCIAL COMMITMENTS | ||||||||
Total amount of commitments, guarantees and contingencies at the balance sheet date was £180,250. | ||||||||
10. ADDITIONAL INFORMATION | ||||||||
The company is a private company, limited by shares and registered in England and Wales. | ||||||||
The company's registered number is 3922349. | ||||||||
The company's registered office is 6 Brunswick Street, Carlisle CA1 1PN. |
11. TRANSACTIONS WITH DIRECTORS | ||||||||
At 1 May 2023 a loan of £8,401 was owed by a diirector which was repaid in full. Further advances of £14,529 were made to that director which remain outstanding at the balance sheet date. | ||||||||
Futhermore, advances of £62,077 were made to another director during the year which remain outstanding at the balance sheet date. | ||||||||
The loans are unsecured, interest free and repayable on demand. |