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REGISTERED NUMBER: 12259737 (England and Wales)

















Unaudited Financial Statements

for the Period

1 November 2022 to 29 October 2023

for

POWER MECHANICAL AUTOMATION LTD

POWER MECHANICAL AUTOMATION LTD (Registered number: 12259737)






Contents of the Financial Statements
for the Period 1 November 2022 to 29 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

POWER MECHANICAL AUTOMATION LTD

Company Information
for the Period 1 November 2022 to 29 October 2023







DIRECTOR: Mr P Moretti





REGISTERED OFFICE: Grove House
774 - 780 Wilmslow Road
Didsbury
Manchester
M20 2DR





REGISTERED NUMBER: 12259737 (England and Wales)





ACCOUNTANTS: Sterling Partners Limited
Chartered Accountants
Chartered Tax Advisors
2nd Floor, Grove House
774-780 Wilmslow Road
Didsbury
Manchester
Greater Manchester
M20 2DR

POWER MECHANICAL AUTOMATION LTD (Registered number: 12259737)

Balance Sheet
29 October 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 102 116
Tangible assets 5 50,106 61,469
50,208 61,585

CURRENT ASSETS
Stocks 108,901 99,783
Debtors 6 330,987 287,589
Cash at bank and in hand 266,383 115,072
706,271 502,444
CREDITORS
Amounts falling due within one year 7 (336,745 ) (347,752 )
NET CURRENT ASSETS 369,526 154,692
TOTAL ASSETS LESS CURRENT
LIABILITIES

419,734

216,277

CREDITORS
Amounts falling due after more than one year 8 (21,126 ) (30,382 )

PROVISIONS FOR LIABILITIES (12,140 ) (10,445 )
NET ASSETS 386,468 175,450

CAPITAL AND RESERVES
Called up share capital 211 200
Share premium 13,068 -
Retained earnings 373,189 175,250
386,468 175,450

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 29 October 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 29 October 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

POWER MECHANICAL AUTOMATION LTD (Registered number: 12259737)

Balance Sheet - continued
29 October 2023


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 October 2024 and were signed by:





Mr P Moretti - Director


POWER MECHANICAL AUTOMATION LTD (Registered number: 12259737)

Notes to the Financial Statements
for the Period 1 November 2022 to 29 October 2023

1. STATUTORY INFORMATION

POWER MECHANICAL AUTOMATION LTD 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

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 - 20% on reducing balance and at varying rates on cost
Computer equipment - 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred 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.


POWER MECHANICAL AUTOMATION LTD (Registered number: 12259737)

Notes to the Financial Statements - continued
for the Period 1 November 2022 to 29 October 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 8 (2022 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Patents
and
Goodwill licences Totals
£    £    £   
COST
At 1 November 2022
and 29 October 2023 6 142 148
AMORTISATION
At 1 November 2022 2 30 32
Amortisation for period - 14 14
At 29 October 2023 2 44 46
NET BOOK VALUE
At 29 October 2023 4 98 102
At 31 October 2022 4 112 116

POWER MECHANICAL AUTOMATION LTD (Registered number: 12259737)

Notes to the Financial Statements - continued
for the Period 1 November 2022 to 29 October 2023

5. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 November 2022 79,087 6,082 85,169
Additions - 1,599 1,599
At 29 October 2023 79,087 7,681 86,768
DEPRECIATION
At 1 November 2022 22,232 1,468 23,700
Charge for period 11,426 1,536 12,962
At 29 October 2023 33,658 3,004 36,662
NET BOOK VALUE
At 29 October 2023 45,429 4,677 50,106
At 31 October 2022 56,855 4,614 61,469

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 214,209 196,031
Other debtors 19,755 40,163
Payment on account 42,963 2,536
Directors' current accounts 9,915 -
Prepayments 42,092 24,213
Accrued income 2,053 24,646
330,987 287,589

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 8,106 8,870
Payments on account 82,889 25,125
Trade creditors 103,325 84,586
Amounts owed to group undertakings 40,146 50,146
Tax 56,593 43,328
Social security and other taxes 5,725 11,636
VAT 8,915 72,082
Pension liability 553 1,705
Directors' current accounts - 218
Accrued expenses 7,949 27,113
Deferred income 22,544 22,943
336,745 347,752

POWER MECHANICAL AUTOMATION LTD (Registered number: 12259737)

Notes to the Financial Statements - continued
for the Period 1 November 2022 to 29 October 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 8,106 8,870
Bank loans - 2-5 years 13,020 21,512
21,126 30,382

9. FINANCIAL INSTRUMENTS

Bank loans are initially measured at cost.

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended 29 October 2023 and the year ended 31 October 2022:

2023 2022
£    £   
Mr P Moretti
Balance outstanding at start of period (218 ) (2,272 )
Amounts advanced 45,501 (3,732 )
Amounts repaid (34,768 ) 5,786
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period 10,515 (218 )

11. ULTIMATE CONTROLLING PARTY

The controlling party is Mr P Moretti.

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
POWER MECHANICAL AUTOMATION LTD

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of POWER MECHANICAL AUTOMATION LTD for the period ended 29 October 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of POWER MECHANICAL AUTOMATION LTD in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of POWER MECHANICAL AUTOMATION LTD and state those matters that we have agreed to state to the director of POWER MECHANICAL AUTOMATION LTD in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than POWER MECHANICAL AUTOMATION LTD and its director for our work or for this report.

It is your duty to ensure that POWER MECHANICAL AUTOMATION LTD has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of POWER MECHANICAL AUTOMATION LTD. You consider that POWER MECHANICAL AUTOMATION LTD is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of POWER MECHANICAL AUTOMATION LTD. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Sterling Partners Limited
Chartered Accountants
Chartered Tax Advisors
2nd Floor, Grove House
774-780 Wilmslow Road
Didsbury
Manchester
Greater Manchester
M20 2DR


Date: .............................................