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Company Registration No. 05023133 (England and Wales)
ONE WAY PCB LIMITED Unaudited accounts for the year ended 31 December 2023
ONE WAY PCB LIMITED Unaudited accounts Contents
Page
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ONE WAY PCB LIMITED Company Information for the year ended 31 December 2023
Directors
RICHARD LYONS JAKE FIELDER
Company Number
05023133 (England and Wales)
Registered Office
2 HALIFAX COURT 50 HURRICANE WAY NORWICH NORFOLK NR6 6JB ENGLAND
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ONE WAY PCB LIMITED Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
26,000 
31,000 
Tangible assets
360,500 
333,390 
386,500 
364,390 
Current assets
Inventories
30,300 
60,200 
Debtors
472,987 
428,510 
Cash at bank and in hand
283,371 
164,363 
786,658 
653,073 
Creditors: amounts falling due within one year
(396,533)
(358,861)
Net current assets
390,125 
294,212 
Total assets less current liabilities
776,625 
658,602 
Creditors: amounts falling due after more than one year
(122,500)
(171,500)
Provisions for liabilities
Deferred tax
(84,792)
(61,544)
Net assets
569,333 
425,558 
Capital and reserves
Called up share capital
99 
99 
Capital redemption reserve
1 
1 
Capital contribution reserve
22,400 
22,400 
Profit and loss account
546,833 
403,058 
Shareholders' funds
569,333 
425,558 
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 12 October 2024 and were signed on its behalf by
RICHARD LYONS Director Company Registration No. 05023133
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ONE WAY PCB LIMITED Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
ONE WAY PCB LIMITED is a private company, limited by shares, registered in England and Wales, registration number 05023133. The registered office is 2 HALIFAX COURT, 50 HURRICANE WAY, NORWICH, NORFOLK, NR6 6JB, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
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.
Presentation currency
The accounts are presented in £ sterling.
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, is being amortised evenly over its estimated useful life of 10 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.
Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant & machinery
25% on reducing balance
Computer equipment
25% on reducing balance
Inventories
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
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ONE WAY PCB LIMITED Notes to the Accounts for the year ended 31 December 2023
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 taxation
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.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 January 2023
51,000 
At 31 December 2023
51,000 
Amortisation
At 1 January 2023
20,000 
Charge for the year
5,000 
At 31 December 2023
25,000 
Net book value
At 31 December 2023
26,000 
At 31 December 2022
31,000 
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ONE WAY PCB LIMITED Notes to the Accounts for the year ended 31 December 2023
5
Tangible fixed assets
Plant & machinery 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 January 2023
565,836 
8,452 
574,288 
Additions
175,621 
1,588 
177,209 
Disposals
(210,074)
- 
(210,074)
At 31 December 2023
531,383 
10,040 
541,423 
Depreciation
At 1 January 2023
236,294 
4,604 
240,898 
Charge for the year
82,541 
1,359 
83,900 
On disposals
(143,875)
- 
(143,875)
At 31 December 2023
174,960 
5,963 
180,923 
Net book value
At 31 December 2023
356,423 
4,077 
360,500 
At 31 December 2022
329,542 
3,848 
333,390 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
471,592 
427,199 
Accrued income and prepayments
845 
761 
Other debtors
550 
550 
472,987 
428,510 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
68,818 
26,196 
Trade creditors
266,883 
230,673 
Taxes and social security
27,964 
19,900 
Other creditors
32,096 
(22,412)
Loans from directors
109 
102,690 
Accruals
663 
1,814 
396,533 
358,861 
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
122,500 
171,500 
9
Transactions with related parties
As at the Balance Sheet date the Company owed the Directors £1,799
10
Average number of employees
During the year the average number of employees was 14 (2022: 14).
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