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REGISTERED NUMBER: 02194525 (England and Wales)










Unaudited Financial Statements

for the Year Ended 30 April 2024

for

PSV Fabrication (U.K.) Limited

PSV Fabrication (U.K.) Limited (Registered number: 02194525)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PSV Fabrication (U.K.) Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: J V Kennedy
M N Kennedy
R M Kennedy



SECRETARY: J V Kennedy



REGISTERED OFFICE: Military House
24 Castle Street
Chester
CH1 2DS



REGISTERED NUMBER: 02194525 (England and Wales)



ACCOUNTANTS: Haines Watts
Military House
24 Castle Street
Chester
Cheshire
CH1 2DS



BANKERS: Lloyds Bank PLC
8 Foregate Street
Chester
Cheshire
CH1 1XP



SOLICITORS: Knights Solicitors LLP
58 Nicholas Street
Chester
CH1 2NP

PSV Fabrication (U.K.) Limited (Registered number: 02194525)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 1 1
Investment property 5 1,939,737 1,939,737
1,939,738 1,939,738

CURRENT ASSETS
Debtors 6 3,455 10,602
Cash at bank 65,873 132,237
69,328 142,839
CREDITORS
Amounts falling due within one year 7 77,933 88,015
NET CURRENT (LIABILITIES)/ASSETS (8,605 ) 54,824
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,931,133

1,994,562

CREDITORS
Amounts falling due after more than one
year

8

(160,593

)

(197,406

)

PROVISIONS FOR LIABILITIES (106,550 ) (106,550 )
NET ASSETS 1,663,990 1,690,606

CAPITAL AND RESERVES
Called up share capital 10 100,000 100,000
Fair value reserve 11 520,214 520,214
Retained earnings 1,043,776 1,070,392
SHAREHOLDERS' FUNDS 1,663,990 1,690,606

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 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.

PSV Fabrication (U.K.) Limited (Registered number: 02194525)

Balance Sheet - continued
30 April 2024


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 30 August 2024 and were signed on its behalf by:





J V Kennedy - Director


PSV Fabrication (U.K.) Limited (Registered number: 02194525)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

PSV Fabrication (U.K.) 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.

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 as modified by the revaluation of certain assets.

The financial statements are presented in sterling, which is the functional currency of the company, rounded to the nearest £1.

Turnover
Revenue 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.
Plant and machinery etc - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year is comprised of current 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 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 balance sheet date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

PSV Fabrication (U.K.) Limited (Registered number: 02194525)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 May 2023
and 30 April 2024 49,902
DEPRECIATION
At 1 May 2023
and 30 April 2024 49,901
NET BOOK VALUE
At 30 April 2024 1
At 30 April 2023 1

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023
and 30 April 2024 1,939,737
NET BOOK VALUE
At 30 April 2024 1,939,737
At 30 April 2023 1,939,737

Fair value at 30 April 2024 is represented by:
£   
Valuation in 2019 626,764
Cost 1,312,973
1,939,737

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 3,455 8,602
Other debtors - 2,000
3,455 10,602

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts 32,000 32,000
Trade creditors 9,369 1,079
Taxation and social security 8,826 26,646
Other creditors 27,738 28,290
77,933 88,015

PSV Fabrication (U.K.) Limited (Registered number: 02194525)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.24 30.4.23
£    £   
Bank loans 160,593 197,406

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 60,926 87,739

9. SECURED DEBTS

The following secured debts are included within creditors:

30.4.24 30.4.23
£    £   
Bank loans 192,593 229,406

The bank loans are secured by a first charge over the freehold property of the company.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.24 30.4.23
value: £    £   
50,000 Ordinary A £1 50,000 50,000
50,000 Ordinary B £1 50,000 50,000
100,000 100,000

11. RESERVES
Fair
value
reserve
£   
At 1 May 2023
and 30 April 2024 520,214