Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-292024-02-29No description of principal activity32023-03-01false3truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 00892277 2023-03-01 2024-02-29 00892277 2022-03-01 2023-02-28 00892277 2024-02-29 00892277 2023-02-28 00892277 c:Director1 2023-03-01 2024-02-29 00892277 d:Buildings 2023-03-01 2024-02-29 00892277 d:Buildings 2024-02-29 00892277 d:Buildings 2023-02-28 00892277 d:Buildings d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 00892277 d:PlantMachinery 2023-03-01 2024-02-29 00892277 d:PlantMachinery 2024-02-29 00892277 d:PlantMachinery 2023-02-28 00892277 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 00892277 d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 00892277 d:CurrentFinancialInstruments 2024-02-29 00892277 d:CurrentFinancialInstruments 2023-02-28 00892277 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 00892277 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 00892277 d:ShareCapital 2024-02-29 00892277 d:ShareCapital 2023-02-28 00892277 d:RevaluationReserve 2024-02-29 00892277 d:RevaluationReserve 2023-02-28 00892277 d:RetainedEarningsAccumulatedLosses 2024-02-29 00892277 d:RetainedEarningsAccumulatedLosses 2023-02-28 00892277 c:FRS102 2023-03-01 2024-02-29 00892277 c:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 00892277 c:FullAccounts 2023-03-01 2024-02-29 00892277 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 00892277 2 2023-03-01 2024-02-29 00892277 e:PoundSterling 2023-03-01 2024-02-29 iso4217:GBP xbrli:pure

Registered number: 00892277










PRODUCTION TECHNIQUES LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 29 FEBRUARY 2024

 
PRODUCTION TECHNIQUES LIMITED
REGISTERED NUMBER: 00892277

BALANCE SHEET
AS AT 29 FEBRUARY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
243,218
247,458

  
243,218
247,458

Current assets
  

Stocks
 5 
22,942
26,348

Debtors: amounts falling due within one year
 6 
58,695
38,751

Cash at bank and in hand
  
50,708
63,085

  
132,345
128,184

Creditors: amounts falling due within one year
 7 
(146,256)
(130,923)

Net current liabilities
  
 
 
(13,911)
 
 
(2,739)

Total assets less current liabilities
  
229,307
244,719

  

Net assets
  
229,307
244,719


Capital and reserves
  

Called up share capital 
  
400
400

Revaluation reserve
  
178,490
180,104

Profit and loss account
  
50,417
64,215

  
229,307
244,719


Page 1

 
PRODUCTION TECHNIQUES LIMITED
REGISTERED NUMBER: 00892277
    
BALANCE SHEET (CONTINUED)
AS AT 29 FEBRUARY 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 by: 






C L Brand
Director

Date: 5 November 2024

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
PRODUCTION TECHNIQUES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.


General information

Production Techniques Limited (00892277) is a private company limited by shares and is 
incorporated in England and Wales.
The address of its registered office is:
13 Kings Road,
Fleet,
Hampshire,
GU51 3AU

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.

 
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.

 
2.3

Interest income

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

Page 3

 
PRODUCTION TECHNIQUES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.4

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.

 
2.5

Taxation

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.

 
2.6

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.

On transition to FRS 102, the property was brought in at deemed cost.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-
2% Straight line
Plant & machinery
-
18% Straight line

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.

Page 4

 
PRODUCTION TECHNIQUES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.7

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.

 
2.8

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.

 
2.9

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.

 
2.10

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.

 
2.11

Financial instruments

The Company only enters into basic financial instuments transaction that result in the recognition of financial assets and liabilities like trade aand other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.12

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 3 (2023 - 3).

Page 5

 
PRODUCTION TECHNIQUES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

4.


Tangible fixed assets







Freehold property
Plant & machinery
Total

£
£
£



Cost or valuation


At 1 March 2023
280,000
218,101
498,101



At 29 February 2024

280,000
218,101
498,101



Depreciation


At 1 March 2023
32,704
217,939
250,643


Charge for the year on owned assets
4,088
152
4,240



At 29 February 2024

36,792
218,091
254,883



Net book value



At 29 February 2024
243,208
10
243,218



At 28 February 2023
247,296
162
247,458


5.


Stocks

2024
2023
£
£

Raw materials and consumables
1,024
802

Finished goods and goods for resale
21,918
25,546

22,942
26,348


Page 6

 
PRODUCTION TECHNIQUES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

6.


Debtors

2024
2023
£
£


Trade debtors
35,767
20,471

Other debtors
17,881
13,735

Prepayments and accrued income
5,047
4,545

58,695
38,751



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
9,108
5,608

Corporation tax
11,482
11,229

Other taxation and social security
4,149
5,601

Other creditors
118,800
105,890

Accruals and deferred income
2,717
2,595

146,256
130,923


 
Page 7