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REGISTERED NUMBER: SC185444 (Scotland)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

Pmh Coachbuilders Ltd.

Pmh Coachbuilders Ltd. (Registered number: SC185444)






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




Page

Balance Sheet 1

Notes to the Financial Statements 3


Pmh Coachbuilders Ltd. (Registered number: SC185444)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 111,821 70,075

CURRENT ASSETS
Stocks 38,394 35,969
Debtors 5 245,514 258,896
Cash at bank 61,525 270,840
345,433 565,705
CREDITORS
Amounts falling due within one year 6 (310,847 ) (415,280 )
NET CURRENT ASSETS 34,586 150,425
TOTAL ASSETS LESS CURRENT
LIABILITIES

146,407

220,500

CREDITORS
Amounts falling due after more than one
year

7

(62,436

)

(29,097

)

PROVISIONS FOR LIABILITIES (21,481 ) (16,996 )
NET ASSETS 62,490 174,407

RESERVES
Capital redemption reserve 2 2
Retained earnings 62,488 174,405
SHAREHOLDERS' FUNDS 62,490 174,407

Pmh Coachbuilders Ltd. (Registered number: SC185444)

Balance Sheet - continued
31 May 2024


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 25 February 2025 and were signed on its behalf by:




I R McIntosh - Director



Mrs M MciIntosh - Director


Pmh Coachbuilders Ltd. (Registered number: SC185444)

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

1. STATUTORY INFORMATION

Pmh Coachbuilders Ltd is a private company, limited by shares, domiciled in Scotland, registration number SC185444. The registered office is 42 Stirling Street, Denny, Stirlingshire, Scotland, FK6 6DJ.

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 represents net invoiced sales of goods and services in respect of commercial coach and body builders. excluding value added tax. Sales are recognised at the point at which the goods are transferred and the service is complete.

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.
Tenants improvements - 25% on cost
Plant and machinery - between 0% and 25% on reducing balance
Fixtures and fittings - 33% on cost
Motor vehicles - 25% on reducing balance

Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of acquisition.

The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all tangible fixed assets are depreciated to nil value.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is represented by purchase price.

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.

Pmh Coachbuilders Ltd. (Registered number: SC185444)

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

2. ACCOUNTING POLICIES - continued

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.

Provisions
Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2023 - 15 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Tenants Plant and and Motor
improvements machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 June 2023 44,349 250,510 24,181 65,625 384,665
Additions - 26,000 - 35,157 61,157
At 31 May 2024 44,349 276,510 24,181 100,782 445,822
DEPRECIATION
At 1 June 2023 44,349 204,229 23,460 42,552 314,590
Charge for year - 12,506 405 6,500 19,411
At 31 May 2024 44,349 216,735 23,865 49,052 334,001
NET BOOK VALUE
At 31 May 2024 - 59,775 316 51,730 111,821
At 31 May 2023 - 46,281 721 23,073 70,075

Pmh Coachbuilders Ltd. (Registered number: SC185444)

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

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts and finance leases are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
Additions 26,000 35,157 61,157
At 31 May 2024 26,000 35,157 61,157
DEPRECIATION
Charge for year 3,250 732 3,982
At 31 May 2024 3,250 732 3,982
NET BOOK VALUE
At 31 May 2024 22,750 34,425 57,175

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 232,880 246,968
Other debtors 12,634 11,928
245,514 258,896

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts 10,035 9,788
Hire purchase contracts and finance leases 14,429 -
Trade creditors 203,449 275,175
Taxation and social security 69,349 125,580
Other creditors 13,585 4,737
310,847 415,280

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Bank loans 19,062 29,097
Hire purchase contracts and finance leases 43,374 -
62,436 29,097

Amounts falling due in more than five years:

Repayable by instalments
Finance leases 5,469 -

Pmh Coachbuilders Ltd. (Registered number: SC185444)

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

8. SECURED DEBTS

The following secured debts are included within creditors:

31.5.24 31.5.23
£    £   
Hire purchase contracts and finance leases 57,803 -

Hire purchase creditors and lease creditors are secured on the assets to which they relate.