Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-30The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.true112023-05-01falsefalseNo description of principal activity12true 01200846 2023-05-01 2024-04-30 01200846 2022-05-01 2023-04-30 01200846 2024-04-30 01200846 2023-04-30 01200846 c:Director2 2023-05-01 2024-04-30 01200846 d:PlantMachinery 2023-05-01 2024-04-30 01200846 d:PlantMachinery 2024-04-30 01200846 d:PlantMachinery 2023-04-30 01200846 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 01200846 d:MotorVehicles 2023-05-01 2024-04-30 01200846 d:MotorVehicles 2024-04-30 01200846 d:MotorVehicles 2023-04-30 01200846 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 01200846 d:OfficeEquipment 2023-05-01 2024-04-30 01200846 d:OfficeEquipment 2024-04-30 01200846 d:OfficeEquipment 2023-04-30 01200846 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 01200846 d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 01200846 d:CurrentFinancialInstruments 2024-04-30 01200846 d:CurrentFinancialInstruments 2023-04-30 01200846 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 01200846 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 01200846 d:ShareCapital 2024-04-30 01200846 d:ShareCapital 2023-04-30 01200846 d:RetainedEarningsAccumulatedLosses 2024-04-30 01200846 d:RetainedEarningsAccumulatedLosses 2023-04-30 01200846 c:FRS102 2023-05-01 2024-04-30 01200846 c:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 01200846 c:FullAccounts 2023-05-01 2024-04-30 01200846 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 01200846 d:WithinOneYear 2024-04-30 01200846 d:WithinOneYear 2023-04-30 01200846 d:BetweenOneFiveYears 2024-04-30 01200846 d:BetweenOneFiveYears 2023-04-30 01200846 2 2023-05-01 2024-04-30 01200846 d:AcceleratedTaxDepreciationDeferredTax 2024-04-30 01200846 d:AcceleratedTaxDepreciationDeferredTax 2023-04-30 01200846 e:PoundSterling 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure
Registered number: 01200846


P E D TECHNOLOGIES LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 30 APRIL 2024

 
P E D TECHNOLOGIES LIMITED
REGISTERED NUMBER:01200846

BALANCE SHEET
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
174,621
103,274

  
174,621
103,274

Current assets
  

Stocks
 5 
196,768
176,010

Debtors: amounts falling due within one year
 6 
461,944
157,059

Cash at bank and in hand
 7 
124,060
249,640

  
782,772
582,709

Creditors: amounts falling due within one year
 8 
(347,871)
(137,897)

Net current assets
  
 
 
434,901
 
 
444,812

Total assets less current liabilities
  
609,522
548,086

Provisions for liabilities
  

Deferred tax
 9 
(42,534)
(20,558)

  
 
 
(42,534)
 
 
(20,558)

Net assets
  
566,988
527,528


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Profit and loss account
  
565,988
526,528

  
566,988
527,528


Page 1

 
P E D TECHNOLOGIES LIMITED
REGISTERED NUMBER:01200846
    
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2024

The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 






................................................
Mr D A Staden
Director

Date: 23 October 2024


The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
P E D TECHNOLOGIES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

P E D Technologies Limited is a private company, limited by shares. It is incorporated in England and
Wales, registered number 01200846. Its registered office and principal place of business is at Brunel Close, Park Farm Industrial Estate, Wellingborough, Northants, NN8 6QX.
The principal activity of the Company is that of the design and manufacture of industrial process and production equipment.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
P E D TECHNOLOGIES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant & machinery
-
15%
Motor vehicles
-
25%
Office equipment
-
15%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections
Page 4

 
P E D TECHNOLOGIES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)


2.7
Financial instruments (continued)

11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
P E D TECHNOLOGIES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.10

Operating leases

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.11

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.12

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 6

 
P E D TECHNOLOGIES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.13

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3.


Employees

The average monthly number of employees, including directors, during the year was 12 (2023 - 11).

Page 7

 
P E D TECHNOLOGIES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

4.


Tangible fixed assets





Plant & machinery
Motor vehicles
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 May 2023
452,184
41,254
135,181
628,619


Additions
104,302
-
-
104,302


Disposals
(8,410)
-
-
(8,410)



At 30 April 2024

548,076
41,254
135,181
724,511



Depreciation


At 1 May 2023
368,410
27,814
129,121
525,345


Charge for the year on owned assets
28,128
3,360
909
32,397


Disposals
(7,852)
-
-
(7,852)



At 30 April 2024

388,686
31,174
130,030
549,890



Net book value



At 30 April 2024
159,390
10,080
5,151
174,621



At 30 April 2023
83,774
13,440
6,060
103,274


5.


Stocks

2024
2023
£
£

Raw materials and consumables
196,768
176,010



6.


Debtors

2024
2023
£
£


Trade debtors
436,462
125,485

Prepayments
25,482
31,574

461,944
157,059


Page 8

 
P E D TECHNOLOGIES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
124,060
249,640



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
72,299
72,184

Corporation tax
2,819
8,781

Other taxation and social security
59,581
28,396

Other creditors
3,378
3,378

Accruals and deferred income
209,794
25,158

347,871
137,897


Page 9

 
P E D TECHNOLOGIES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

9.


Deferred taxation




2024


£






At beginning of year
(20,558)


Charged to profit or loss
(21,976)



At end of year
(42,534)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(42,534)
(20,558)


10.


Pension commitments

The company operates a defined contribution pension scheme for the benefit of the employees. The assets of those schemes are administered by trustees in funds independent from those of the company.
The pension cost charge represents contributions payable by the company to the fund and amounted to
£9,380 (2023 - £7,784) and were fully paid in the year.


11.


Commitments under operating leases

At 30 April 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
4,821
5,700

Later than 1 year and not later than 5 years
3,396
8,216

8,217
13,916

 
Page 10