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COMPANY REGISTRATION NUMBER: 09917727
Ponting Engineering Consultants Limited
Filleted Unaudited Financial Statements
29 February 2024
Ponting Engineering Consultants Limited
Financial Statements
Year ended 29 February 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Ponting Engineering Consultants Limited
Statement of Financial Position
29 February 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
5
25,715
34,162
Current assets
Stocks
26,820
24,550
Debtors
6
32,513
72,362
Cash at bank and in hand
97,060
118,754
---------
---------
156,393
215,666
Creditors: amounts falling due within one year
7
56,185
50,715
---------
---------
Net current assets
100,208
164,951
---------
---------
Total assets less current liabilities
125,923
199,113
---------
---------
Net assets
125,923
199,113
---------
---------
Capital and reserves
Called up share capital
8
100
100
Revaluation reserve
54,814
54,814
Profit and loss account
71,009
144,199
---------
---------
Shareholders funds
125,923
199,113
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Ponting Engineering Consultants Limited
Statement of Financial Position (continued)
29 February 2024
These financial statements were approved by the board of directors and authorised for issue on 27 November 2024 , and are signed on behalf of the board by:
I M Ponting
P D Ponting
Director
Director
Company registration number: 09917727
Ponting Engineering Consultants Limited
Notes to the Financial Statements
Year ended 29 February 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 146 New London Road, Chelmsford, Essex, CM2 0AW, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
The turnover shown in the profit and loss account represents amounts invoiced during the period, exclusive of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Motor vehicles
-
20% straight line
Equipment
-
20% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 6 (2023: 8 ).
5. Tangible assets
Motor vehicles
Equipment
Total
£
£
£
Cost
At 1 March 2023
60,935
38,396
99,331
Additions
3,955
3,955
--------
--------
---------
At 29 February 2024
60,935
42,351
103,286
--------
--------
---------
Depreciation
At 1 March 2023
31,067
34,102
65,169
Charge for the year
9,687
2,715
12,402
--------
--------
---------
At 29 February 2024
40,754
36,817
77,571
--------
--------
---------
Carrying amount
At 29 February 2024
20,181
5,534
25,715
--------
--------
---------
At 28 February 2023
29,868
4,294
34,162
--------
--------
---------
6. Debtors
2024
2023
£
£
Trade debtors
12,476
30,090
Prepayments and accrued income
5,308
4,927
Amounts owed from related undertakings
6,063
15,663
Other debtors
8,666
21,682
--------
--------
32,513
72,362
--------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
1,418
5,145
Accruals and deferred income
3,795
4,058
Social security and other taxes
13,852
11,512
Director loan accounts
36,364
27,804
Other creditors
756
2,196
--------
--------
56,185
50,715
--------
--------
8. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary Class A shares of £ 1 each
70
70
70
70
Ordinary Class B shares of £ 1 each
4
4
4
4
Ordinary Class C shares of £ 1 each
22
22
22
22
Ordinary Class D shares of £ 1 each
4
4
4
4
----
----
----
----
100
100
100
100
----
----
----
----
9. Related party transactions
At the year end the company owed its directors £ 40,364 (2023 - £ 27,804 ) and are included within creditors. At the year end the company was owed £ 6,063 (2023 - £ 15,663 ) from related parties which is shown amongst debtors. The related party is a company in which one of the directors has an interest in. During the year the company made sales of £ 103,384 (2023 - £ 103,026 ) to a related party.