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Registered Number: 11543023
England and Wales

 

 

 


Unaudited Financial Statements

for the year ended 31 August 2024

for

POS ENGINEERING NORFOLK LIMITED

 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 87,965    62,115 
87,965    62,115 
Current assets      
Debtors 4 173,764    363,269 
Cash at bank and in hand 244,930    60,993 
418,694    424,262 
Creditors: amount falling due within one year 5 (159,064)   (112,393)
Net current assets 259,630    311,869 
 
Total assets less current liabilities 347,595    373,984 
Creditors: amount falling due after more than one year 6 (52,778)   (138,186)
Provisions for liabilities 7 (21,991)   (12,065)
Net assets 272,826    223,733 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 272,726    223,633 
Shareholders' funds 272,826    223,733 
 


For the year ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 08 January 2025 and were signed on its behalf by:


-------------------------------
Carl Hicks
Director
1
General Information
POS Engineering Norfolk LIMITED is a private company, limited by shares, registered in England and Wales, registration number 11543023, registration address 13 The Close, Norwich, Norfolk, NR1 4DS.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Plant and Machinery 20% Straight Line
Computer Equipment 20% Straight Line
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 5 (2023 : 6).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £   £
At 01 September 2023 98,447    23,941      14,570    136,958 
Additions 6,897    41,632    1,833    1,667    52,029 
Disposals        
At 31 August 2024 105,344    65,573    1,833    16,237    188,987 
Depreciation
At 01 September 2023 53,675    9,224      11,944    74,843 
Charge for year 11,587    11,661    424    2,507    26,179 
On disposals        
At 31 August 2024 65,262    20,885    424    14,451    101,022 
Net book values
Closing balance as at 31 August 2024 40,082    44,688    1,409    1,786    87,965 
Opening balance as at 01 September 2023 44,772    14,717      2,626    62,115 

The net book value of Plant and Machinery includes £ 5,400 in respect of assets leased under finance leases or hire purchase contracts.

4.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 36,918    88,028 
Retentions 1,079    26,811 
Other Debtors 135,767    248,430 
173,764    363,269 

5.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 79,235    90,348 
Bank Loans & Overdrafts 33,333   
Corporation Tax 6,388    5,564 
PAYE & Social Security 1,411    1,908 
Other Creditors 23,484    500 
Obligations under HP/Financial Leases 22,850   
Wages & Salaries Control Account  
VAT (9,242)   (9,804)
Directors' Current Accounts 1,605    23,877 
159,064    112,393 

6.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts 52,778    125,639 
Obligations Under HP/Financial Leases   12,547 
52,778    138,186 

7.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 12,065    8,923 
Charged to Profit & Loss 9,926    3,142 
21,991    12,065 

2