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REGISTERED NUMBER: 05284767 (England and Wales)















P C S (Welding) Limited

Unaudited Financial Statements

For The Year Ended

31st December 2024






P C S (Welding) Limited (Registered number: 05284767)

Contents of the Financial Statements
For The Year Ended 31st December 2024










Page

Balance Sheet 1

Notes to the Financial Statements 2 to 4


P C S (Welding) Limited (Registered number: 05284767)

Balance Sheet
31st December 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 829 -
Tangible assets 5 166,095 116,842
166,924 116,842

CURRENT ASSETS
Stocks 24,982 27,844
Debtors 6 121,760 118,405
Cash at bank and in hand 7,111 8,891
153,853 155,140
CREDITORS
Amounts falling due within one year 7 217,414 248,944
NET CURRENT LIABILITIES (63,561 ) (93,804 )
TOTAL ASSETS LESS CURRENT LIABILITIES 103,363 23,038

PROVISIONS FOR LIABILITIES 30,332 12,886
NET ASSETS 73,031 10,152

CAPITAL AND RESERVES
Called up share capital 8 200 200
Capital redemption reserve 100 100
Retained earnings 72,731 9,852
SHAREHOLDERS' FUNDS 73,031 10,152

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

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





G A Clement - Director


P C S (Welding) Limited (Registered number: 05284767)

Notes to the Financial Statements
For The Year Ended 31st December 2024


1. STATUTORY INFORMATION

P C S (Welding) 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: 05284767

Registered office: 8 Hopper Way
Diss
Norfolk
IP22 4GT

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.

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.

Cherished plates is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 12.5% on reducing balance
Plant and machinery - 50% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

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.

P C S (Welding) Limited (Registered number: 05284767)

Notes to the Financial Statements - continued
For The Year Ended 31st December 2024


2. ACCOUNTING POLICIES - continued

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 8 (2023 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
Additions 829
At 31st December 2024 829
NET BOOK VALUE
At 31st December 2024 829

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1st January 2024 1,233 87,254 9,695 135,429 233,611
Additions - 32,733 2,841 72,902 108,476
Disposals - (3,100 ) - (20,641 ) (23,741 )
At 31st December 2024 1,233 116,887 12,536 187,690 318,346
DEPRECIATION
At 1st January 2024 1,078 46,793 3,193 65,705 116,769
Charge for year 20 25,773 1,192 25,664 52,649
Eliminated on disposal - (2,636 ) - (14,531 ) (17,167 )
At 31st December 2024 1,098 69,930 4,385 76,838 152,251
NET BOOK VALUE
At 31st December 2024 135 46,957 8,151 110,852 166,095
At 31st December 2023 155 40,461 6,502 69,724 116,842

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 91,257 89,870
Other debtors 30,503 28,535
121,760 118,405

P C S (Welding) Limited (Registered number: 05284767)

Notes to the Financial Statements - continued
For The Year Ended 31st December 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 100,384 135,983
Taxation and social security 7,027 5,078
Other creditors 110,003 107,883
217,414 248,944

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
150 Ordinary A £1 150 150
50 Ordinary B £1 50 50
200 200

9. RELATED PARTY DISCLOSURES

At the year end the company owed the directors £105,238 (2023 - £103,666) relating to an interest free loan included in other creditors. The loan is repayable on demand.