Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-312023-02-01falseNo description of principal activity1213truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 05009611 2023-02-01 2024-01-31 05009611 2022-02-01 2023-01-31 05009611 2024-01-31 05009611 2023-01-31 05009611 2022-02-01 05009611 c:Director1 2023-02-01 2024-01-31 05009611 d:PlantMachinery 2023-02-01 2024-01-31 05009611 d:PlantMachinery 2024-01-31 05009611 d:PlantMachinery 2023-01-31 05009611 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 05009611 d:MotorVehicles 2023-02-01 2024-01-31 05009611 d:MotorVehicles 2024-01-31 05009611 d:MotorVehicles 2023-01-31 05009611 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 05009611 d:OfficeEquipment 2023-02-01 2024-01-31 05009611 d:OfficeEquipment 2024-01-31 05009611 d:OfficeEquipment 2023-01-31 05009611 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 05009611 d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 05009611 d:CurrentFinancialInstruments 2024-01-31 05009611 d:CurrentFinancialInstruments 2023-01-31 05009611 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 05009611 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 05009611 d:ShareCapital 2024-01-31 05009611 d:ShareCapital 2023-01-31 05009611 d:RevaluationReserve 2024-01-31 05009611 d:RevaluationReserve 2023-01-31 05009611 d:RetainedEarningsAccumulatedLosses 2024-01-31 05009611 d:RetainedEarningsAccumulatedLosses 2023-01-31 05009611 c:FRS102 2023-02-01 2024-01-31 05009611 c:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 05009611 c:FullAccounts 2023-02-01 2024-01-31 05009611 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 05009611 2 2023-02-01 2024-01-31 05009611 5 2023-02-01 2024-01-31 05009611 6 2023-02-01 2024-01-31 05009611 7 2023-02-01 2024-01-31 05009611 d:OtherDeferredTax 2024-01-31 05009611 d:OtherDeferredTax 2023-01-31 iso4217:GBP xbrli:pure

Registered number: 05009611









P.F.E. SITE SERVICES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2024

 
P.F.E. SITE SERVICES LIMITED
REGISTERED NUMBER: 05009611

BALANCE SHEET
AS AT 31 JANUARY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
207,596
203,914

Investments
 5 
190,854
189,494

  
398,450
393,408

Current assets
  

Stocks
 6 
35,140
34,440

Debtors: amounts falling due within one year
 7 
868,371
984,804

Cash at bank and in hand
 8 
590,017
455,711

  
1,493,528
1,474,955

Creditors: amounts falling due within one year
 9 
(172,787)
(152,863)

Net current assets
  
 
 
1,320,741
 
 
1,322,092

Total assets less current liabilities
  
1,719,191
1,715,500

Provisions for liabilities
  

Deferred tax
 10 
(37,011)
(36,671)

  
 
 
(37,011)
 
 
(36,671)

Net assets
  
1,682,180
1,678,829


Capital and reserves
  

Called up share capital 
  
101
101

Revaluation reserve
  
35,043
34,022

Profit and loss account
  
1,647,036
1,644,706

  
1,682,180
1,678,829


Page 1

 
P.F.E. SITE SERVICES LIMITED
REGISTERED NUMBER: 05009611
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 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 comprehensive income 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 on 30 October 2024.




T J Cook
Director

The notes on pages 3 to 12 form part of these financial statements.

Page 2

 
P.F.E. SITE SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.


General information

P.F.E. Site Services Limited is a private company, limited by shares and incorporated in England and Wales, United Kingdom, with a registration number 05009611. The address of the registered office is Haslers, Old Station Road, Loughton, Essex, IG10 4PL. The principal activity of the company continued to be that of engineering services.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

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

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:

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.

 
2.3

Interest income

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

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
P.F.E. SITE SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.5

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.

 
2.6

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.

Page 4

 
P.F.E. SITE SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.7

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 and machinery
-
25% per annum
Motor vehicles
-
25% per annum
Office equipment
-
25% per annum

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.

 
2.8

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.9

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Page 5

 
P.F.E. SITE SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.10

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 weighted average 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.

 
2.11

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.

 
2.12

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.

 
2.13

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.

 
2.14

Holiday pay accrual

A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the balance sheet date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the balance sheet date.

 
2.15

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance Sheet.

Page 6

 
P.F.E. SITE SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.16

Financial instruments

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

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.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

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.

Derecognition of financial instruments
Page 7

 
P.F.E. SITE SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)


2.16
Financial instruments (continued)


Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
2.17

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 12 (2023 - 13).

Page 8

 
P.F.E. SITE SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 February 2023
257,044
411,426
57,117
725,587


Additions
17,329
48,081
12,648
78,058


Disposals
-
(27,760)
-
(27,760)



At 31 January 2024

274,373
431,747
69,765
775,885



Depreciation


At 1 February 2023
220,047
259,791
41,836
521,674


Charge for the year on owned assets
12,505
45,045
5,602
63,152


Disposals
-
(16,537)
-
(16,537)



At 31 January 2024

232,552
288,299
47,438
568,289



Net book value



At 31 January 2024
41,821
143,448
22,327
207,596



At 31 January 2023
36,997
151,636
15,281
203,914


5.


Fixed asset investments





Unlisted investments

£



Cost or valuation


At 1 February 2023
189,493


Revaluations
1,361



At 31 January 2024
190,854




Page 9

 
P.F.E. SITE SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

6.


Stocks

2024
2023
£
£

Raw materials and consumables
35,140
34,440

35,140
34,440



7.


Debtors

2024
2023
£
£


Trade debtors
788,895
886,484

Prepayments and accrued income
79,476
98,320

868,371
984,804



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
590,017
455,711

590,017
455,711



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
72,126
71,527

Corporation tax
2,159
40,749

Other taxation and social security
89,714
25,612

Other creditors
4,280
3,431

Accruals and deferred income
4,508
11,544

172,787
152,863



10.


Deferred taxation

Page 10

 
P.F.E. SITE SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
 
10.Deferred taxation (continued)




2024
2023


£

£






At beginning of year
(36,671)
(36,728)


Charged to profit or loss
(340)
57



At end of year
(37,011)
(36,671)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Fair value movements
(37,011)
(36,671)

(37,011)
(36,671)


11.


Pension commitments

The company operates a defined contributions pension scheme.  The assets of the scheme are held separately from those of the company in an independently administered fund.  The pension cost charge represents contributions payable by the company to the fund and amounted to £85,506 (2022: £85,029). Contributions totalling £1,537 (2022: £1,214) were payable to the fund at the year end.

Page 11

 
P.F.E. SITE SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

12.


Related party transactions

During the year transactions with the following related parties occurred:
During the year dividends were paid to key management personnel totalling 2023: £2,000 (2022: £Nil).
At the year-end the following amounts were due from/(to) the related parties:


2024
2023
£
£

T J Cook
646
646
646
646


13.


Controlling party

The ultimate controlling party is T J Cook, by virtue of her majority shareholding.

 
Page 12