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REGISTERED NUMBER: 10045598 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

PECO SILENCERS LIMITED

PECO SILENCERS LIMITED (Registered number: 10045598)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 6

PECO SILENCERS LIMITED

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mr P B Cullen
Mr M Lamb





REGISTERED OFFICE: Enterprise House
The Courtyard
Old Court House Road
Bromborough
Merseyside
CH62 4UE





REGISTERED NUMBER: 10045598 (England and Wales)





ACCOUNTANTS: LBW Chartered Accountants
Enterprise House
The Courtyard
Old Courthouse Road
Bromborough
Merseyside
CH62 4UE

PECO SILENCERS LIMITED (Registered number: 10045598)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 10,000 12,500
Tangible assets 5 12,000 15,000
22,000 27,500

CURRENT ASSETS
Stocks 5,782 11,518
Debtors 6 26,209 53,036
Cash at bank 21,298 45,676
53,289 110,230
CREDITORS
Amounts falling due within one year 7 39,455 76,935
NET CURRENT ASSETS 13,834 33,295
TOTAL ASSETS LESS CURRENT
LIABILITIES

35,834

60,795

CREDITORS
Amounts falling due after more than one
year

8

11,667

21,667
NET ASSETS 24,167 39,128

CAPITAL AND RESERVES
Called up share capital 9 10 10
Revaluation reserve 10 11,559 11,559
Retained earnings 10 12,598 27,559
SHAREHOLDERS' FUNDS 24,167 39,128

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 November 2024 and were signed on its behalf by:




Mr P B Cullen - Director


PECO SILENCERS LIMITED (Registered number: 10045598)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

PECO SILENCERS 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 as modified by the revaluation of certain assets.

The financial statements have been prepared on the basis that the enterprise will continue in operational existence for the foreseeable future. This means in particular that the profit and loss account and balance sheet assume no intention nor necessity to liquidate or curtail significantly the scale of operation. Further, the financial statements have been prepared on the basis that continued support will be given by the company's directors.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

PECO SILENCERS LIMITED (Registered number: 10045598)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 25,000
AMORTISATION
At 1 April 2023 12,500
Charge for year 2,500
At 31 March 2024 15,000
NET BOOK VALUE
At 31 March 2024 10,000
At 31 March 2023 12,500

5. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST OR VALUATION
At 1 April 2023
and 31 March 2024 22,059 125 22,184
DEPRECIATION
At 1 April 2023 7,059 125 7,184
Charge for year 3,000 - 3,000
At 31 March 2024 10,059 125 10,184
NET BOOK VALUE
At 31 March 2024 12,000 - 12,000
At 31 March 2023 15,000 - 15,000

Cost or valuation at 31 March 2024 is represented by:

Plant and Computer
machinery equipment Totals
£    £    £   
Valuation in 2023 11,559 - 11,559
Cost 10,500 125 10,625
22,059 125 22,184

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 26,209 53,036

PECO SILENCERS LIMITED (Registered number: 10045598)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 10,000 10,471
Trade creditors 7,967 50,627
Taxation and social security 9,404 8,699
Other creditors 12,084 7,138
39,455 76,935

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans 11,667 21,667

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
10 Ordinary £1 10 10

10. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 April 2023 27,559 11,559 39,118
Deficit for the year (14,961 ) (14,961 )
At 31 March 2024 12,598 11,559 24,157

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included in other creditors is an amount of £4,502 (2023: £88) relating to P Cullen's directors loan account.

Also included in other creditors is an amount of £590 (2023: £58) relating to M Lamb's directors loan account.

12. ULTIMATE CONTROLLING PARTY

In the opinion of the directors there is no ultimate controlling party.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
PECO SILENCERS LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of PECO SILENCERS LIMITED for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of PECO SILENCERS LIMITED, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of PECO SILENCERS LIMITED and state those matters that we have agreed to state to the Board of Directors of PECO SILENCERS LIMITED, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than PECO SILENCERS LIMITED and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that PECO SILENCERS 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 loss of PECO SILENCERS LIMITED. You consider that PECO SILENCERS LIMITED is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of PECO SILENCERS 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.






LBW Chartered Accountants
Enterprise House
The Courtyard
Old Courthouse Road
Bromborough
Merseyside
CH62 4UE


Date: .............................................