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REGISTERED NUMBER: 02110839 (England and Wales)













Financial Statements

for the Year Ended 31 March 2024

for

Pellcroft Engineering Limited

Pellcroft Engineering Limited (Registered number: 02110839)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Pellcroft Engineering Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mr P H Pell
Mr A D Pell



SECRETARY: Mr A D Pell



REGISTERED OFFICE: Northwood
Hundle House Lane
New York
LINCOLN
Lincolnshire
LN4 4YW



REGISTERED NUMBER: 02110839 (England and Wales)



ACCOUNTANTS: Nicholsons
Chartered Accountants
Newland House
The Point
Weaver Road
LINCOLN
Lincolnshire
LN6 3QN



BANKERS: NatWest Bank Plc
10 Market Place
BOSTON
Lincolnshire
PE21 6EJ



SOLICITORS: Wilkin Chapman Epton Blades
Bank Street
LINCOLN
Lincolnshire
LN2 1DR

Pellcroft Engineering Limited (Registered number: 02110839)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 140,968 154,270
140,968 154,270

CURRENT ASSETS
Stocks 208,219 206,858
Debtors 6 252,089 318,713
Investments 7 650,000 250,000
Cash at bank 266,712 628,753
1,377,020 1,404,324
CREDITORS
Amounts falling due within one year 8 196,677 219,895
NET CURRENT ASSETS 1,180,343 1,184,429
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,321,311

1,338,699

PROVISIONS FOR LIABILITIES 35,103 37,961
NET ASSETS 1,286,208 1,300,738

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Capital redemption reserve 1,000 1,000
Retained earnings 1,284,208 1,298,738
SHAREHOLDERS' FUNDS 1,286,208 1,300,738

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

Pellcroft Engineering Limited (Registered number: 02110839)

Balance Sheet - continued
31 March 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 October 2024 and were signed on its behalf by:





Mr P H Pell - Director


Pellcroft Engineering Limited (Registered number: 02110839)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Pellcroft Engineering 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.

Turnover
Turnover 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 - 15% on reducing balance
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on reducing balance

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

Work in progress is valued at the costs incurred at the balance sheet date inclusive of direct costs, fixed and variable overheads.

Financial instruments
Only basic financial instruments as defined in FRS 102 are held. Financial assets and financial liabilities are recognised in the accounts only when the entity becomes party to the contractual provisions of the instrument and their measurement basis is as follows:

Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments.

Cash at bank is classified as a basic financial instrument and is measured at transaction price.

Financial liabilities - trade creditors, accruals and other creditors are basic financial instruments, and are measured at amortised cost. Where a financial liability constitutes a financing transaction it is initially and subsequently measures at the present value of future payments, discounted at a market rate of interest.

Other financial asset investment are initially measured at transaction price and subsequently carried at fair value with changes in fair value being recognised in the profit and loss account.


Pellcroft Engineering Limited (Registered number: 02110839)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year 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.

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 year 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.

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.

Current asset investments
Current asset investments are stated at the lower of cost and net realisable value.

Government grants
Government grants which have been accounted for under the performance model are recognised when it is reasonable to expect that the grants will be received and that all related conditions will be met..

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 10 ) .

Pellcroft Engineering Limited (Registered number: 02110839)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 April 2023
and 31 March 2024 385
AMORTISATION
At 1 April 2023
and 31 March 2024 385
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 April 2023 369,055 10,105 45,792 424,952
Additions - 4,142 7,250 11,392
Disposals - - (10,173 ) (10,173 )
At 31 March 2024 369,055 14,247 42,869 426,171
DEPRECIATION
At 1 April 2023 227,780 10,105 32,797 270,682
Charge for year 20,498 207 3,842 24,547
Eliminated on disposal - - (10,026 ) (10,026 )
At 31 March 2024 248,278 10,312 26,613 285,203
NET BOOK VALUE
At 31 March 2024 120,777 3,935 16,256 140,968
At 31 March 2023 141,275 - 12,995 154,270

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 232,837 296,818
Other debtors 19,252 21,895
252,089 318,713

Pellcroft Engineering Limited (Registered number: 02110839)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. CURRENT ASSET INVESTMENTS
2024 2023
£    £   
Treasury bonds 650,000 250,000

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 68,540 89,783
Taxation and social security 35,895 104,800
Other creditors 92,242 25,312
196,677 219,895

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 58,200 58,200

10. RELATED PARTY DISCLOSURES

During the year dividends of £20,000 (2022: £30,000) were paid to Mr P H Pell director and shareholder of the company.