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REGISTERED NUMBER: 06113489 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

PUMP SERVICE AND TECHNOLOGY UK LIMITED

PUMP SERVICE AND TECHNOLOGY UK LIMITED (REGISTERED NUMBER: 06113489)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 29 February 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


PUMP SERVICE AND TECHNOLOGY UK LIMITED

COMPANY INFORMATION
for the Year Ended 29 February 2024







DIRECTOR: M Pennington





SECRETARY: M Pennington





REGISTERED OFFICE: The Pump House
393 Millfield Lane
Haydock
St Helens
Merseyside
WA11 9TD





REGISTERED NUMBER: 06113489 (England and Wales)





ACCOUNTANTS: Fairhurst Accountants Ltd
Chartered Accountants
Douglas Bank House
Wigan Lane
Wigan
Lancashire
WN1 2TB

PUMP SERVICE AND TECHNOLOGY UK LIMITED (REGISTERED NUMBER: 06113489)

STATEMENT OF FINANCIAL POSITION
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 52,475 69,967

CURRENT ASSETS
Stocks 60,000 56,000
Debtors 5 234,699 269,054
Cash at bank and in hand 51,443 27,445
346,142 352,499
CREDITORS
Amounts falling due within one year 6 223,940 280,421
NET CURRENT ASSETS 122,202 72,078
TOTAL ASSETS LESS CURRENT
LIABILITIES

174,677

142,045

CREDITORS
Amounts falling due after more than one
year

7

(131,590

)

(41,021

)

PROVISIONS FOR LIABILITIES 9 - (3,300 )
NET ASSETS 43,087 97,724

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 42,987 97,624
SHAREHOLDERS' FUNDS 43,087 97,724

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

PUMP SERVICE AND TECHNOLOGY UK LIMITED (REGISTERED NUMBER: 06113489)

STATEMENT OF FINANCIAL POSITION - continued
29 February 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 November 2024 and were signed by:





M Pennington - Director


PUMP SERVICE AND TECHNOLOGY UK LIMITED (REGISTERED NUMBER: 06113489)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Pump Service and Technology Uk Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents the sale of goods and services provided.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

Tangible fixed assets are included at cost less depreciation and impairment.

Impairment of assets
At each reporting date assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the profit and loss.

Where an impairment loss subsequently reverses, the carrying amount of each asset is increased to the revised estimate of its recoverable amount, to the extent that the increased carrying amount does not exceed the carrying amount that would have been determined (net of depreciation) had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised as income immediately.

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell.

Financial instruments
Trade and other debtors are initially recognised at the transaction price and thereafter stated at amortised cost using effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Short term trade creditors are measured at transaction price. Financial liabilities that have no stated interest rate and are payable within one year shall be measured at the undiscounted amount due.


PUMP SERVICE AND TECHNOLOGY UK LIMITED (REGISTERED NUMBER: 06113489)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Short term employee benefits
Short-term employee benefits are recognised as an expense in the period in which they are incurred.

The company operates a defined contribution pension scheme. Contributions payable for the year are charged in the income statement.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 11 ) .

PUMP SERVICE AND TECHNOLOGY UK LIMITED (REGISTERED NUMBER: 06113489)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 29 February 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2023
and 29 February 2024 145,827
DEPRECIATION
At 1 March 2023 75,860
Charge for year 17,492
At 29 February 2024 93,352
NET BOOK VALUE
At 29 February 2024 52,475
At 28 February 2023 69,967


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 233,265 264,672
Other debtors 1,434 4,382
234,699 269,054

The company has an invoice discounting arrangement against which trade debtors are assigned.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 11,194 11,194
Hire purchase contracts 18,048 24,233
Trade creditors 79,205 62,250
Taxation and social security 52,039 92,123
Other creditors 63,454 90,621
223,940 280,421

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 12,973 22,973
Hire purchase contracts - 18,048
Taxation and social security 118,617 -
131,590 41,021

PUMP SERVICE AND TECHNOLOGY UK LIMITED (REGISTERED NUMBER: 06113489)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 29 February 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 18,048 42,281
Invoice discounting 28,593 46,794
46,641 89,075

Hire purchase liabilities are secured on the assets concerned.

Bank overdraft and invoice discounting facilities are secured by way of a fixed and floating charge over the assets of the company.

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax - 3,300

Deferred
tax
£   
Balance at 1 March 2023 3,300
Provided during year (3,300 )
Balance at 29 February 2024 -

10. OTHER FINANCIAL COMMITMENTS

The company has total operating lease commitments amounting to £42,610 (2023: £49,284).

11. RELATED PARTY DISCLOSURES

During the year, total dividends of £32,000 (2023 - £36,000) were paid to the director .

During the year the director charged the company rent of £32,484 (2023: £32,484) in respect of premises occupied by the company.

Included in Other creditors is £3 (2023: £266) due to the director.