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Registration number: 09017607

PLS Precision Engineering Limited

Filleted Unaudited Financial Statements

for the Year Ended 30 September 2024

 

PLS Precision Engineering Limited

(Registration number: 09017607)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,079

1,269

Investments

5

28,281

28,281

 

29,360

29,550

Current assets

 

Debtors

6

12,465

133,804

Cash at bank and in hand

 

4,440

2,298

 

16,905

136,102

Creditors: Amounts falling due within one year

7

(36,256)

(155,792)

Net current liabilities

 

(19,351)

(19,690)

Total assets less current liabilities

 

10,009

9,860

Provisions for liabilities

(205)

(241)

Net assets

 

9,804

9,619

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

9,704

9,519

Shareholders' funds

 

9,804

9,619

 

PLS Precision Engineering Limited

(Registration number: 09017607)
Balance Sheet as at 30 September 2024

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 10 March 2025
 


Mr D Csehi
Director

   
 

PLS Precision Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
50-54 Oswald Road
Scunthorpe
North Lincolnshire
DN15 7PQ

Registration number: 09017607

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Group accounts not prepared

The company is part of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts..

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of
services in the ordinary course of the company’s activities. Turnover is shown net of value added tax.

The company recognises revenue when: the amount of revenue can be reliably measured; it is
probable that future economic benefits will flow to the entity; and specific criteria have been met for
each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

 

PLS Precision Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

15% per annum on written down value

Investments

Investments in equity shares which are not publicly traded and where fair value cannot be measured
reliably are measured at cost less impairment.

Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised at the transaction price.

 

PLS Precision Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year was 1 (2023 - 1).

 

PLS Precision Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

4

Tangible assets

Fixtures and fittings
 £

Total
£

Cost or valuation

At 1 October 2023

5,250

5,250

At 30 September 2024

5,250

5,250

Depreciation

At 1 October 2023

3,981

3,981

Charge for the year

190

190

At 30 September 2024

4,171

4,171

Carrying amount

At 30 September 2024

1,079

1,079

At 30 September 2023

1,269

1,269

5

Investments

2024
£

2023
£

Investments in subsidiaries

28,281

28,281

Subsidiaries

£

Cost or valuation

At 1 October 2023

28,281

Provision

Carrying amount

At 30 September 2024

28,281

At 30 September 2023

28,281

6

Debtors

2024
£

2023
£

Other debtors

12,296

133,385

Social security and other taxes

169

419

 

12,465

133,804

 

PLS Precision Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

7

Creditors

2024
£

2023
£

Due within one year

Trade payables

4,188

4,367

Amounts due to related parties

20,000

140,000

Social security and other taxes

1,093

295

Other payables

10,975

11,130

36,256

155,792

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100