Company Registration No. 09107258 (England and Wales)
PIW Autobody Limited
Unaudited accounts
for the year ended 30 June 2024
PIW Autobody Limited
Unaudited accounts
Contents
PIW Autobody Limited
Company Information
for the year ended 30 June 2024
Directors
Charmaine Williamson
Paul I Williamson
Company Number
09107258 (England and Wales)
Registered Office
2 SPITAL PARK
KENDAL
CUMBRIA
LA9 6HG
PIW Autobody Limited
Statement of financial position
as at 30 June 2024
Tangible assets
7,261
3,623
Cash at bank and in hand
92,641
72,389
Creditors: amounts falling due within one year
(31,805)
(21,629)
Net current assets
61,546
51,465
Total assets less current liabilities
68,807
55,088
Creditors: amounts falling due after more than one year
(4,293)
(8,290)
Provisions for liabilities
Called up share capital
2
2
Profit and loss account
63,686
46,144
Shareholders' funds
63,688
46,146
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 2 September 2024 and were signed on its behalf by
Charmaine Williamson
Director
Company Registration No. 09107258
PIW Autobody Limited
Notes to the Accounts
for the year ended 30 June 2024
PIW Autobody Limited is a private company, limited by shares, registered in England and Wales, registration number 09107258. The registered office is 2 SPITAL PARK, KENDAL, CUMBRIA, LA9 6HG.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% straight line basis
Motor vehicles
20% straight line basis
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
PIW Autobody Limited
Notes to the Accounts
for the year ended 30 June 2024
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 July 2023
28,660
21,073
49,733
Additions
8,100
3,100
11,200
At 30 June 2024
36,760
24,173
60,933
At 1 July 2023
25,037
21,073
46,110
Charge for the year
6,942
620
7,562
At 30 June 2024
31,979
21,693
53,672
At 30 June 2024
4,781
2,480
7,261
At 30 June 2023
3,623
-
3,623
5
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
4,000
4,000
Trade creditors
3,542
1,572
Taxes and social security
15,065
12,794
Loans from directors
7,461
2,320
The bank loan is unsecured.
6
Creditors: amounts falling due after more than one year
2024
2023
The bank loan is unsecured.
7
Average number of employees
During the year the average number of employees was 4 (2023: 4).