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REGISTERED NUMBER: 04415376 (England and Wales)














Unaudited Financial Statements

for the Year Ended 27 October 2024

for

Podmores (Engineers) Limited

Podmores (Engineers) Limited (Registered number: 04415376)






Contents of the Financial Statements
for the Year Ended 27 October 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


Podmores (Engineers) Limited (Registered number: 04415376)

Balance Sheet
27 October 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 117,996 74,452
Investments 6 10,091 10,091
128,087 84,543

CURRENT ASSETS
Stocks 245,554 388,694
Debtors 7 495,576 407,847
Cash at bank and in hand 131,576 121,381
872,706 917,922
CREDITORS
Amounts falling due within one year 8 496,781 638,943
NET CURRENT ASSETS 375,925 278,979
TOTAL ASSETS LESS CURRENT LIABILITIES 504,012 363,522

CREDITORS
Amounts falling due after more than one year 9 (225,708 ) (260,833 )

PROVISIONS FOR LIABILITIES (12,402 ) (15,399 )
NET ASSETS 265,902 87,290

CAPITAL AND RESERVES
Called up share capital 50,000 50,000
Non distributable reserves 11 27,553 36,737
Retained earnings 188,349 553
SHAREHOLDERS' FUNDS 265,902 87,290

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 27 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 27 October 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.

Podmores (Engineers) Limited (Registered number: 04415376)

Balance Sheet - continued
27 October 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 January 2025 and were signed on its behalf by:





Mrs A A Gough - Director


Podmores (Engineers) Limited (Registered number: 04415376)

Notes to the Financial Statements
for the Year Ended 27 October 2024

1. STATUTORY INFORMATION

Podmores (Engineers) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 04415376

Registered office: Unit H, Great Fenton Business Park
Grove Road
Fenton
Stoke on Trent
Staffordshire
ST4 4LZ

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Revenue is recognised as the company becomes entitled to consideration for the goods and services supplied.

Goodwill
Goodwill has now been fully amortised.

Patents & licences
Patents and Licences have now been fully amortised.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off 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 - 15% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.


Podmores (Engineers) Limited (Registered number: 04415376)

Notes to the Financial Statements - continued
for the Year Ended 27 October 2024

2. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2023 - 21 ) .

4. INTANGIBLE FIXED ASSETS
Patents
and
Goodwill licences Totals
£    £    £   
COST
At 28 October 2023
and 27 October 2024 50,000 17,635 67,635
AMORTISATION
At 28 October 2023
and 27 October 2024 50,000 17,635 67,635
NET BOOK VALUE
At 27 October 2024 - - -
At 27 October 2023 - - -

Podmores (Engineers) Limited (Registered number: 04415376)

Notes to the Financial Statements - continued
for the Year Ended 27 October 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 28 October 2023 117,480 21,850 27,498 34,765 201,593
Additions 48,785 116 25,555 8,052 82,508
Disposals (8,660 ) - (14,998 ) (1,195 ) (24,853 )
At 27 October 2024 157,605 21,966 38,055 41,622 259,248
DEPRECIATION
At 28 October 2023 68,631 19,017 13,964 25,529 127,141
Charge for year 14,176 590 7,927 5,678 28,371
Eliminated on disposal (5,531 ) - (7,616 ) (1,113 ) (14,260 )
At 27 October 2024 77,276 19,607 14,275 30,094 141,252
NET BOOK VALUE
At 27 October 2024 80,329 2,359 23,780 11,528 117,996
At 27 October 2023 48,849 2,833 13,534 9,236 74,452

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
Additions 25,555
At 27 October 2024 25,555
DEPRECIATION
Charge for year 6,389
At 27 October 2024 6,389
NET BOOK VALUE
At 27 October 2024 19,166

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 28 October 2023
and 27 October 2024 10,091
NET BOOK VALUE
At 27 October 2024 10,091
At 27 October 2023 10,091

Other investments are listed at cost.

Podmores (Engineers) Limited (Registered number: 04415376)

Notes to the Financial Statements - continued
for the Year Ended 27 October 2024

7. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 147,712 88,997
Other debtors 294,355 267,718
442,067 356,715

Amounts falling due after more than one year:
Amounts owed by group undertakings 53,509 51,132

Aggregate amounts 495,576 407,847

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 50,000 50,000
Hire purchase contracts 8,500 -
Trade creditors 121,813 166,562
Taxation and social security 163,201 98,610
Other creditors 153,267 323,771
496,781 638,943

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 70,833 120,833
Hire purchase contracts 14,875 -
Other creditors 140,000 140,000
225,708 260,833

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 120,833 170,833
Hire purchase contracts 23,375 -
144,208 170,833

Hire purchase creditor is secured against the assets in which it relates to.

Bank loans are secured via fixed and floating charge over all assets in the company.

Podmores (Engineers) Limited (Registered number: 04415376)

Notes to the Financial Statements - continued
for the Year Ended 27 October 2024

11. RESERVES
Non
distributable
reserves
£   
At 28 October 2023 36,737
Deferred tax on revaluation (9,184 )

At 27 October 2024 27,553

12. FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies which are not included within the balance sheet amount to £17,153 (2023: £27,800). This financial commitment represents the total amount of payments remaining on leases ending between 2024-2026.