Company registration number 00740270 (England and Wales)
PROCESS INSTALLATIONS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
PROCESS INSTALLATIONS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
PROCESS INSTALLATIONS LIMITED
BALANCE SHEET
AS AT 30 APRIL 2024
30 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Stocks
8,877
-
0
Debtors
3
58,358
70,431
Cash at bank and in hand
17,711
160,517
84,946
230,948
Creditors: amounts falling due within one year
4
(58,330)
(211,318)
Net current assets
26,616
19,630
Capital and reserves
Called up share capital
5
100
100
Profit and loss reserves
26,516
19,530
Total equity
26,616
19,630

For the financial year ended 30 April 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 of its financial statements for the year in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 17 April 2025
Mr C J Newberry
Director
Company registration number 00740270 (England and Wales)
PROCESS INSTALLATIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 2 -
1
Accounting policies
Company information

Process Installations Limited is a private company limited by shares incorporated in England and Wales. The registered office is B1 Riverside Industrial Estate, Bridge Road, Littlehampton, West Sussex, BN17 5DF.

1.1
Accounting convention

The financial statements are prepared under the historical cost convention.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.3
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

PROCESS INSTALLATIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 3 -
Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.8
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.9
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
6
6
PROCESS INSTALLATIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 4 -
3
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
50,552
70,431
Other debtors
7,806
-
0
58,358
70,431
4
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
2,973
3,347
Taxation and social security
1,769
42,664
Other creditors
53,588
165,307
58,330
211,318
5
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each of £1 each
100
100
100
100
6
Operating lease commitments

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
54,976
4,838
7
Related party transactions

The company has taken advantage of the exemption available within FRS 102, whereby it has not disclosed transactions with its related company as these are carried out on an arms length basis.

2024-04-302023-05-01falsefalsefalse17 April 2025CCH SoftwareCCH Accounts Production 2025.100No description of principal activityMr C J Newberry007402702023-05-012024-04-30007402702024-04-30007402702023-04-3000740270core:CurrentFinancialInstrumentscore:WithinOneYear2024-04-3000740270core:CurrentFinancialInstrumentscore:WithinOneYear2023-04-3000740270core:CurrentFinancialInstruments2024-04-3000740270core:CurrentFinancialInstruments2023-04-3000740270core:ShareCapital2024-04-3000740270core:ShareCapital2023-04-3000740270core:RetainedEarningsAccumulatedLosses2024-04-3000740270core:RetainedEarningsAccumulatedLosses2023-04-3000740270core:ShareCapitalOrdinaryShareClass12024-04-3000740270core:ShareCapitalOrdinaryShareClass12023-04-3000740270bus:Director12023-05-012024-04-30007402702022-05-012023-04-3000740270core:WithinOneYear2024-04-3000740270core:WithinOneYear2023-04-3000740270bus:PrivateLimitedCompanyLtd2023-05-012024-04-3000740270bus:SmallCompaniesRegimeForAccounts2023-05-012024-04-3000740270bus:FRS1022023-05-012024-04-3000740270bus:AuditExemptWithAccountantsReport2023-05-012024-04-3000740270bus:FullAccounts2023-05-012024-04-30xbrli:purexbrli:sharesiso4217:GBP