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REGISTERED NUMBER: 01091811 (England and Wales)


















Unaudited Financial Statements

for the Year Ended 31st December 2024

for

Powell McNeil Machinery Company Limited

Powell McNeil Machinery Company Limited (Registered number: 01091811)






Contents of the Financial Statements
for the Year Ended 31st December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Powell McNeil Machinery Company Limited

Company Information
for the Year Ended 31st December 2024







DIRECTORS: D McNeil
Miss F A McNeil





REGISTERED OFFICE: Trios House
Reform Road
Maidenhead
Berkshire
SL6 8BY





BUSINESS ADDRESS: Hawksworth Industrial Estate
Swindon
Wiltshire
SN2 1DZ





REGISTERED NUMBER: 01091811 (England and Wales)





ACCOUNTANTS: Hannaways
Trios House
Reform Road
Maidenhead
Berkshire
SL6 8BY

Powell McNeil Machinery Company Limited (Registered number: 01091811)

Balance Sheet
31st December 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 7,867 10,022
Investments 5 22,401 12,223
30,268 22,245

CURRENT ASSETS
Stocks 6 215,510 242,750
Debtors 7 331,107 164,492
Cash at bank 926,560 983,122
1,473,177 1,390,364
CREDITORS
Amounts falling due within one year 8 194,964 102,222
NET CURRENT ASSETS 1,278,213 1,288,142
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,308,481

1,310,387

CAPITAL AND RESERVES
Called up share capital 10 5,100 5,100
Retained earnings 11 1,303,381 1,305,287
SHAREHOLDERS' FUNDS 1,308,481 1,310,387

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.

Powell McNeil Machinery Company Limited (Registered number: 01091811)

Balance Sheet - continued
31st December 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16th April 2025 and were signed on its behalf by:





D McNeil - Director


Powell McNeil Machinery Company Limited (Registered number: 01091811)

Notes to the Financial Statements
for the Year Ended 31st December 2024

1. STATUTORY INFORMATION

Powell McNeil Machinery Company Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 15% 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 Statement of Income and Retained Earnings, 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.

Fixed asset investments
Listed investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured ar fair value with any changes to fair value recognised in profit or loss.

Powell McNeil Machinery Company Limited (Registered number: 01091811)

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

2. ACCOUNTING POLICIES - continued

Short term debtors and creditors
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction cost. Any losses from impairment are recognised in the profit and loss account.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1st January 2024
and 31st December 2024 98,974 27,480 4,354 130,808
DEPRECIATION
At 1st January 2024 95,662 20,959 4,165 120,786
Charge for year 497 1,630 28 2,155
At 31st December 2024 96,159 22,589 4,193 122,941
NET BOOK VALUE
At 31st December 2024 2,815 4,891 161 7,867
At 31st December 2023 3,312 6,521 189 10,022

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1st January 2024 12,223
Fair value adjustment 10,178
At 31st December 2024 22,401
NET BOOK VALUE
At 31st December 2024 22,401
At 31st December 2023 12,223

Powell McNeil Machinery Company Limited (Registered number: 01091811)

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

5. FIXED ASSET INVESTMENTS - continued

Cost or valuation at 31st December 2024 is represented by:

Other
investments
£   
Valuation in 2015 (79,575 )
Valuation in 2016 (5,130 )
Valuation in 2017 3,204
Valuation in 2018 (3,678 )
Valuation in 2019 1,416
Valuation in 2020 (4,359 )
Valuation in 2021 1,512
Valuation in 2022 3,203
Valuation in 2023 (2,551 )
Valuation in 2024 10,178
Cost 98,181
22,401

6. STOCKS
2024 2023
£    £   
Stocks 215,510 242,750

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 105,946 6,857
Amounts owed by group undertakings 187,192 115,992
Other debtors 22,687 23,674
Prepayments 15,282 17,969
331,107 164,492

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 113,902 76,904
Corporation tax - 9,460
Social security and other taxes 8,540 2,585
Other creditors - 683
Directors' current accounts 4 140
Accrued expenses 72,518 12,450
194,964 102,222

Powell McNeil Machinery Company Limited (Registered number: 01091811)

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

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Between one and five years 40,000 40,000

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
5,100 Ordinary £1 5,100 5,100

11. RESERVES
Retained
earnings
£   

At 1st January 2024 1,305,287
Deficit for the year (1,906 )
At 31st December 2024 1,303,381

Included in reserves are unrealised losses of £75,780 (2023 £85,958).

12. RELATED PARTY DISCLOSURES

Included in Administration expenses in the profit and loss account is £40,000 (2023 £40,000) rent charged from Scottcam Holdings Limited, the ultimate parent company.

The amount due from Scottcam Holdings Limited at the year end is disclosed in note 9 of the financial statements.

13. ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of Scottcam Holdings Limited, a company controlled by the director D McNeil, by virtue of his controlling interest in the ordinary share capital of that company.