Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31false2023-04-01false11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 06055527 2023-04-01 2024-03-31 06055527 2022-04-01 2023-03-31 06055527 2024-03-31 06055527 2023-03-31 06055527 2022-04-01 06055527 c:CompanySecretary1 2023-04-01 2024-03-31 06055527 c:Director1 2023-04-01 2024-03-31 06055527 c:Director2 2023-04-01 2024-03-31 06055527 c:RegisteredOffice 2023-04-01 2024-03-31 06055527 d:PlantMachinery 2023-04-01 2024-03-31 06055527 d:PlantMachinery 2024-03-31 06055527 d:PlantMachinery 2023-03-31 06055527 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 06055527 d:MotorVehicles 2023-04-01 2024-03-31 06055527 d:MotorVehicles 2024-03-31 06055527 d:MotorVehicles 2023-03-31 06055527 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 06055527 d:OfficeEquipment 2023-04-01 2024-03-31 06055527 d:OfficeEquipment 2024-03-31 06055527 d:OfficeEquipment 2023-03-31 06055527 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 06055527 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 06055527 d:Goodwill 2024-03-31 06055527 d:Goodwill 2023-03-31 06055527 d:CurrentFinancialInstruments 2024-03-31 06055527 d:CurrentFinancialInstruments 2023-03-31 06055527 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 06055527 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 06055527 d:ShareCapital 2023-04-01 2024-03-31 06055527 d:ShareCapital 2024-03-31 06055527 d:ShareCapital 2022-04-01 2023-03-31 06055527 d:ShareCapital 2023-03-31 06055527 d:ShareCapital 2022-04-01 06055527 d:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 06055527 d:RetainedEarningsAccumulatedLosses 2024-03-31 06055527 d:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 06055527 d:RetainedEarningsAccumulatedLosses 2023-03-31 06055527 d:RetainedEarningsAccumulatedLosses 2022-04-01 06055527 c:FRS102 2023-04-01 2024-03-31 06055527 c:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 06055527 c:FullAccounts 2023-04-01 2024-03-31 06055527 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 06055527 2 2023-04-01 2024-03-31 06055527 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 06055527









PPM ENGINEERS LIMITED







UNAUDITED

DIRECTORS' REPORT AND FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
PPM ENGINEERS LIMITED
 
 
COMPANY INFORMATION


Directors
R King-Grant 
B King 




Company secretary
R King-Grant



Registered number
06055527



Registered office
4 Briarcroft Road

Brighton

East Sussex

BN2 6LL




Accountants
Gibson Appleby
Chartered Accountants

1-3 Ship Street

Shoreham by Sea

West Sussex

BN43 5DH





 
PPM ENGINEERS LIMITED
 

CONTENTS



Page
Directors' report
1
Accountants' report
2
Statement of financial position
3 - 4
Statement of changes in equity
5
Notes to the financial statements
6 - 12


 
PPM ENGINEERS LIMITED
 
 
 
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2024

The directors present their report and the financial statements for the year ended 31 March 2024.

Principal activity

The Company's principal activity is to supply and repair conveyor belt systems.

Directors

The directors who served during the year were:

R King-Grant 
B King 

Directors' responsibilities statement

The directors are responsible for preparing the Directors' report and the financial statements in accordance with applicable law and regulations.
 
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.

 In preparing these financial statements, the directors are required to:


select suitable accounting policies for the Company's financial statements and then apply them consistently;

make judgments and accounting estimates that are reasonable and prudent;

state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Small companies note

In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board on 20 November 2024 and signed on its behalf.
 




R King-Grant
Secretary

Page 1

 
PPM ENGINEERS LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF PPM ENGINEERS LIMITED
FOR THE YEAR ENDED 31 MARCH 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of PPM Engineers Limited for the year ended 31 March 2024 which comprise  the Statement of financial position, the Statement of changes in equity 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 at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of PPM Engineers Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of PPM Engineers Limited and state those matters that we have agreed to state to the Board of directors of PPM Engineers Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than PPM Engineers Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that PPM Engineers Limited 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 PPM Engineers Limited. You consider that PPM Engineers Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of PPM Engineers Limited. 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.

  



Gibson Appleby
 
Chartered Accountants
  
1-3 Ship Street
Shoreham by Sea
West Sussex
BN43 5DH
26 November 2024
Page 2

 
PPM ENGINEERS LIMITED
REGISTERED NUMBER: 06055527

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
30,684
38,596

  
30,684
38,596

Current assets
  

Stocks
  
15,000
15,000

Debtors: amounts falling due within one year
 6 
16,009
17,318

Cash at bank and in hand
 7 
56,910
50,163

  
87,919
82,481

Creditors: amounts falling due within one year
 8 
(61,365)
(64,754)

Net current assets
  
 
 
26,554
 
 
17,727

Total assets less current liabilities
  
57,238
56,323

Provisions for liabilities
  

Deferred tax
  
(5,830)
(7,333)

  
 
 
(5,830)
 
 
(7,333)

Net assets
  
51,408
48,990


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
51,308
48,890

  
51,408
48,990


Page 3

 
PPM ENGINEERS LIMITED
REGISTERED NUMBER: 06055527
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 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 20 November 2024.




R King-Grant
Director

The notes on pages 6 to 12 form part of these financial statements.

Page 4

 
PPM ENGINEERS LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 April 2023
100
48,890
48,990


Comprehensive income for the year

Profit for the year
-
3,418
3,418
Total comprehensive income for the year
-
3,418
3,418


Contributions by and distributions to owners

Dividends: Equity capital
-
(1,000)
(1,000)


Total transactions with owners
-
(1,000)
(1,000)


At 31 March 2024
100
51,308
51,408


The notes on pages 6 to 12 form part of these financial statements.


STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2023


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 April 2022
100
38,917
39,017


Comprehensive income for the year

Profit for the year
-
14,013
14,013
Total comprehensive income for the year
-
14,013
14,013


Contributions by and distributions to owners

Dividends: Equity capital
-
(4,040)
(4,040)


Total transactions with owners
-
(4,040)
(4,040)


At 31 March 2023
100
48,890
48,990


The notes on pages 6 to 12 form part of these financial statements.

Page 5

 
PPM ENGINEERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

PPM Engineers Limited is a private company limited by shares and incorporated in England. Its registered office is 4 Briarcroft Road, Brighton, East Sussex, BN2 6LL..

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.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

.The financial statements are presented in Sterling, which is the functional currency of the company.  The accounts are rounded to the nearest pound.

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:

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.

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.

Page 6

 
PPM ENGINEERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.3

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.4

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.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

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:

Plant & machinery
-
15%
straight line
Motor vehicles
-
20%
straight line
Office equipment
-
15%
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.

 
2.5

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 first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting 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.

 
2.6

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.

Page 7

 
PPM ENGINEERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.7

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.

 
2.8

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.

 
2.9

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.

 
2.10

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 Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.11

Interest income

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

Page 8

 
PPM ENGINEERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.12

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 reporting 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 reporting 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 reporting date.



3.


Employees

2024
2023
£
£

Wages and salaries
43,200
64,800

Social security costs
4,706
8,093

Cost of defined contribution scheme
881
1,321

48,787
74,214


The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 9

 
PPM ENGINEERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Intangible assets




Goodwill

£



Cost


At 1 April 2023
58,000



At 31 March 2024

58,000



Amortisation


At 1 April 2023
58,000



At 31 March 2024

58,000



Net book value



At 31 March 2024
-



At 31 March 2023
-



Page 10

 
PPM ENGINEERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Tangible fixed assets





Plant & machinery
Motor vehicles
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 April 2023
12,605
68,825
1,868
83,298



At 31 March 2024

12,605
68,825
1,868
83,298



Depreciation


At 1 April 2023
9,988
32,845
1,868
44,701


Charge for the year on owned assets
717
7,196
-
7,913



At 31 March 2024

10,705
40,041
1,868
52,614



Net book value



At 31 March 2024
1,900
28,784
-
30,684



At 31 March 2023
2,616
35,980
-
38,596

Page 11

 
PPM ENGINEERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Debtors

2024
2023
£
£


Trade debtors
14,614
15,016

Other debtors
-
921

Prepayments and accrued income
1,395
1,381

16,009
17,318



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
56,910
50,163

56,910
50,163



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
1,290
5,813

Other taxation and social security
3,450
2,214

Other creditors
55,025
55,127

Accruals and deferred income
1,600
1,600

61,365
64,754



9.


Pension commitments

The company operates a defined contribution 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 £881 (2023: £1,321). No contributions were payable to the fund at the balance sheet date.

Page 12