Caseware UK (AP4) 2024.0.164 2024.0.164 2024-09-302024-09-3013890provides custom Design & Build services covering a range of Manual, Semi and fully Automatic production equipment, which is utilised in a wide spectrum of industries.The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-10-01false1112truetruefalse 02424442 2023-10-01 2024-09-30 02424442 2022-10-01 2023-09-30 02424442 2024-09-30 02424442 2023-09-30 02424442 c:Director1 2023-10-01 2024-09-30 02424442 d:Buildings d:LongLeaseholdAssets 2023-10-01 2024-09-30 02424442 d:Buildings d:LongLeaseholdAssets 2024-09-30 02424442 d:Buildings d:LongLeaseholdAssets 2023-09-30 02424442 d:Buildings d:ShortLeaseholdAssets 2023-10-01 2024-09-30 02424442 d:PlantMachinery 2023-10-01 2024-09-30 02424442 d:PlantMachinery 2024-09-30 02424442 d:PlantMachinery 2023-09-30 02424442 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 02424442 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-10-01 2024-09-30 02424442 d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 02424442 d:LeasedAssetsHeldAsLessee 2023-10-01 2024-09-30 02424442 d:CurrentFinancialInstruments 2024-09-30 02424442 d:CurrentFinancialInstruments 2023-09-30 02424442 d:Non-currentFinancialInstruments 2024-09-30 02424442 d:Non-currentFinancialInstruments 2023-09-30 02424442 d:CurrentFinancialInstruments d:WithinOneYear 2024-09-30 02424442 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 02424442 d:Non-currentFinancialInstruments d:AfterOneYear 2024-09-30 02424442 d:Non-currentFinancialInstruments d:AfterOneYear 2023-09-30 02424442 d:ShareCapital 2024-09-30 02424442 d:ShareCapital 2023-09-30 02424442 d:RetainedEarningsAccumulatedLosses 2024-09-30 02424442 d:RetainedEarningsAccumulatedLosses 2023-09-30 02424442 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2024-09-30 02424442 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2023-09-30 02424442 c:OrdinaryShareClass1 2023-10-01 2024-09-30 02424442 c:OrdinaryShareClass1 2024-09-30 02424442 c:OrdinaryShareClass1 2023-09-30 02424442 c:FRS102 2023-10-01 2024-09-30 02424442 c:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 02424442 c:FullAccounts 2023-10-01 2024-09-30 02424442 c:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 02424442 d:HirePurchaseContracts d:WithinOneYear 2024-09-30 02424442 d:HirePurchaseContracts d:WithinOneYear 2023-09-30 02424442 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-09-30 02424442 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-09-30 02424442 2 2023-10-01 2024-09-30 02424442 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2024-09-30 02424442 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-09-30 02424442 d:LeasedAssetsHeldAsLessee 2024-09-30 02424442 d:LeasedAssetsHeldAsLessee 2023-09-30 02424442 e:PoundSterling 2023-10-01 2024-09-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 02424442









PYRAMID ENGINEERING SERVICES COMPANY LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2024

 
PYRAMID ENGINEERING SERVICES COMPANY LIMITED
REGISTERED NUMBER: 02424442

BALANCE SHEET
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
188,121
142,578

  
188,121
142,578

Current assets
  

Stocks
 5 
719,132
552,807

Debtors
 6 
302,248
514,700

Cash at bank and in hand
 7 
237,143
68,548

  
1,258,523
1,136,055

Creditors: amounts falling due within one year
 8 
(674,428)
(528,007)

Net current assets
  
 
 
584,095
 
 
608,048

Total assets less current liabilities
  
772,216
750,626

Creditors: amounts falling due after more than one year
 9 
(39,825)
-

Provisions for liabilities
  

Other provisions
 11 
(38,568)
(38,568)

Net assets
  
693,823
712,058


Capital and reserves
  

Called up share capital 
 12 
3,000
3,000

Profit and loss account
  
690,823
709,058

  
693,823
712,058

Page 1

 
PYRAMID ENGINEERING SERVICES COMPANY LIMITED
REGISTERED NUMBER: 02424442
    
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2024

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by  




G J C Stead
Director

Date: 18 February 2025

The notes on pages 3 to 10 form part of these financial statements.
Page 2

 
PYRAMID ENGINEERING SERVICES COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


General information

Pyramid Engineering Services Company Limited is a private company limited by shares and incorporated in England and Wales. The address of the registered office is Jolly Farmers Wharf Thames Road, Crayford, Dartford, Kent, DA1 4QH. The company's principal activity is that of the design, manufacture and service of advanced technical equipment. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of comprehensive income except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
PYRAMID ENGINEERING SERVICES COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the company has transferred the significant risks and rewards of ownership to the buyer;
the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to the Statement of comprehensive income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 4

 
PYRAMID ENGINEERING SERVICES COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.6

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the company in independently administered funds.

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or          substantively enacted by the balance sheet date in the countries where the company operates and generates income.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the following bases.


Short term leasehold property
-
over the term of the lease - 10 years
Plant & machinery
-
15% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 5

 
PYRAMID ENGINEERING SERVICES COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.9

Stocks and work in progress

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.13

Provisions for liabilities

Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance Sheet.


3.


Employees

The average monthly number of employees, including directors, during the year was 11 (2023 - 12).

Page 6

 
PYRAMID ENGINEERING SERVICES COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

4.


Tangible fixed assets





Short Leasehold Property
Plant and machinery etc.
Total

£
£
£



Cost or valuation


At 1 October 2023
138,897
274,811
413,708


Additions
7,270
78,687
85,957


Disposals
-
(55,215)
(55,215)



At 30 September 2024

146,167
298,283
444,450



Depreciation


At 1 October 2023
59,031
212,099
271,130


Charge for the year on owned assets
13,890
11,783
25,673


Charge for the year on financed assets
-
4,767
4,767


Disposals
-
(45,241)
(45,241)



At 30 September 2024

72,921
183,408
256,329



Net book value



At 30 September 2024
73,246
114,875
188,121



At 30 September 2023
79,866
62,712
142,578

The net book value of assets held under finance leases or hire purchase contracts, included above, is as follows:


2024
2023
£
£



Plant and machinery etc.
71,505
-

71,505
-

Page 7

 
PYRAMID ENGINEERING SERVICES COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

5.


Stocks

2024
2023
£
£

Raw materials and consumables
112,725
74,380

Work in progress
606,407
478,427

719,132
552,807



6.


Debtors

2024
2023
£
£

Due after more than one year

Amounts owed by group undertakings
275,625
441,654

275,625
441,654

Due within one year

Trade debtors
9,168
32,806

Other debtors
10,372
33,157

Prepayments and accrued income
7,083
7,083

302,248
514,700



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
237,143
68,548

237,143
68,548


Page 8

 
PYRAMID ENGINEERING SERVICES COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
-
12,992

Trade creditors
77,052
94,656

Other taxation and social security
7,018
11,060

Obligations under finance lease and hire purchase contracts
22,758
-

Other creditors
554,608
400,106

Accruals and deferred income
12,992
9,193

674,428
528,007


The bank loan and overdraft are secured by way of a fixed and floating charge over the fixed assets and property of the company. 


9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Net obligations under finance leases and hire purchase contracts
39,825
-

39,825
-



10.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
22,758
-

Between 1-5 years
39,825
-

62,583
-

Finance leases and hire purchase contracts are secured against the assets to which they relate.

Page 9

 
PYRAMID ENGINEERING SERVICES COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

11.


Provisions





Dilapidation provision

£





At 1 October 2023
38,568



At 30 September 2024
38,568


12.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



3,000 (2023 - 3,000) Ordinary shares of £1.00 each
3,000
3,000



13.


Pension commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. Contributions totalling £1,834 (2023 - £1,874) were payable to the fund at the balance sheet date and are included in creditors.


14.


Ultimate parent undertaking

The ultimate parent undertaking is Stead (Holdings) Limited.

 
Page 10