Fred Pope Engineering Services Limited 04824750 false 2023-08-01 2024-07-31 2024-07-31 The principal activity of the company is engineering. Digita Accounts Production Advanced 6.30.9574.0 true 04824750 2023-08-01 2024-07-31 04824750 2024-07-31 04824750 bus:Director2 1 2024-07-31 04824750 core:FinanceLeases core:CurrentFinancialInstruments 2024-07-31 04824750 core:FinanceLeases core:Non-currentFinancialInstruments 2024-07-31 04824750 core:CurrentFinancialInstruments 2024-07-31 04824750 core:CurrentFinancialInstruments core:WithinOneYear 2024-07-31 04824750 core:Non-currentFinancialInstruments 2024-07-31 04824750 core:Non-currentFinancialInstruments core:AfterOneYear 2024-07-31 04824750 core:Goodwill 2024-07-31 04824750 core:FurnitureFittings 2024-07-31 04824750 core:PlantMachinery 2024-07-31 04824750 bus:SmallEntities 2023-08-01 2024-07-31 04824750 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 04824750 bus:FilletedAccounts 2023-08-01 2024-07-31 04824750 bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 04824750 bus:RegisteredOffice 2023-08-01 2024-07-31 04824750 bus:Director1 2023-08-01 2024-07-31 04824750 bus:Director2 2023-08-01 2024-07-31 04824750 bus:Director2 1 2023-08-01 2024-07-31 04824750 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 04824750 bus:Agent1 2023-08-01 2024-07-31 04824750 core:Goodwill 2023-08-01 2024-07-31 04824750 core:FurnitureFittings 2023-08-01 2024-07-31 04824750 core:FurnitureFittingsToolsEquipment 2023-08-01 2024-07-31 04824750 core:PlantMachinery 2023-08-01 2024-07-31 04824750 countries:England 2023-08-01 2024-07-31 04824750 2023-07-31 04824750 bus:Director2 1 2023-07-31 04824750 core:Goodwill 2023-07-31 04824750 core:FurnitureFittings 2023-07-31 04824750 core:PlantMachinery 2023-07-31 04824750 2022-08-01 2023-07-31 04824750 2023-07-31 04824750 core:FinanceLeases core:CurrentFinancialInstruments 2023-07-31 04824750 core:FinanceLeases core:Non-currentFinancialInstruments 2023-07-31 04824750 core:CurrentFinancialInstruments 2023-07-31 04824750 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 04824750 core:Non-currentFinancialInstruments 2023-07-31 04824750 core:Non-currentFinancialInstruments core:AfterOneYear 2023-07-31 04824750 core:FurnitureFittings 2023-07-31 04824750 core:PlantMachinery 2023-07-31 iso4217:GBP xbrli:pure

Registration number: 04824750

Fred Pope Engineering Services Limited

Annual Report and Unaudited Financial Statements Year Ended 31 July 2024

image-name

Chartered Accountants

 

Fred Pope Engineering Services Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 10

 

Fred Pope Engineering Services Limited

Company Information

Directors

D N White

F G Pope

Registered office

Unity Chambers
34 High East Street
Dorchester
Dorset
DT1 1HA

Accountants

Edwards & Keeping Limited
Chartered Accountants
Unity Chambers
34 High East Street
Dorchester
Dorset
DT1 1HA

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Fred Pope Engineering Services Limitedfor the Year Ended 31 July 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Fred Pope Engineering Services Limited for the year ended 31 July 2024 as set out on pages 3 to 10 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Fred Pope Engineering Services Limited, as a body, in accordance with the terms of our engagement letter dated 8 May 2019. Our work has been undertaken solely to prepare for your approval the accounts of Fred Pope Engineering Services Limited and state those matters that we have agreed to state to the Board of Directors of Fred Pope Engineering Services Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Fred Pope Engineering Services Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Fred Pope Engineering Services Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Fred Pope Engineering Services Limited. You consider that Fred Pope Engineering Services Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Fred Pope Engineering Services Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.






Edwards & Keeping Limited
Chartered Accountants
Unity Chambers
34 High East Street
Dorchester
Dorset
DT1 1HA

22 April 2025

 

Fred Pope Engineering Services Limited

(Registration number: 04824750)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

-

-

Tangible assets

5

145,258

156,510

 

145,258

156,510

Current assets

 

Stocks

6

13,533

8,400

Debtors

7

171,095

253,753

Cash at bank and in hand

 

20,495

4

 

205,123

262,157

Creditors: Amounts falling due within one year

8

(144,649)

(193,135)

Net current assets

 

60,474

69,022

Total assets less current liabilities

 

205,732

225,532

Creditors: Amounts falling due after more than one year

8

(121,014)

(158,027)

Provisions for liabilities

(29,311)

(17,960)

Net assets

 

55,407

49,545

Capital and reserves

 

Called up share capital

100

100

Retained earnings

55,307

49,445

Shareholders' funds

 

55,407

49,545

For the financial year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 17 April 2025 and signed on its behalf by:
 



D N White
Director

 

Fred Pope Engineering Services Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 July 2024

1

General information

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

The address of its registered office is:
Unity Chambers
34 High East Street
Dorchester
Dorset
DT1 1HA
England

The principal place of business is:
Units 3 & 4
Purbeck Business Centre
Victoria Avenue Industrial Estate
Swanage
Dorset
BH19 1AU

These financial statements were authorised for issue by the Board on 17 April 2025.

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

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 income 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.

 

Fred Pope Engineering Services Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 July 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, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

20% straight line

Plant and machinery

25% straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

3 years straight line

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 initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. 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.

 

Fred Pope Engineering Services Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 July 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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 initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Fred Pope Engineering Services Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 July 2024

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 directors) during the year, was 10 (2023 - 10).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 August 2023

3,000

3,000

At 31 July 2024

3,000

3,000

Amortisation

At 1 August 2023

3,000

3,000

At 31 July 2024

3,000

3,000

Carrying amount

At 31 July 2024

-

-

 

Fred Pope Engineering Services Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 July 2024

5

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 August 2023

10,208

299,922

310,130

Additions

814

-

814

At 31 July 2024

11,022

299,922

310,944

Depreciation

At 1 August 2023

9,623

143,997

153,620

Charge for the year

491

11,575

12,066

At 31 July 2024

10,114

155,572

165,686

Carrying amount

At 31 July 2024

908

144,350

145,258

At 31 July 2023

585

155,925

156,510


 

6

Stocks

2024
£

2023
£

Work in progress

12,783

2,700

Other inventories

750

5,700

13,533

8,400

7

Debtors

2024
£

2023
£

Trade debtors

74,167

153,884

Prepayments

3,367

4,074

Other debtors

93,561

95,795

171,095

253,753

Details of non-current trade and other debtors

£13,724 (2023 - £13,724) of other debtors is classified as non current.

 

Fred Pope Engineering Services Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 July 2024

8

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

42,631

63,819

Trade creditors

 

35,773

59,890

Taxation and social security

 

16,589

25,426

Other creditors

 

49,656

44,000

 

144,649

193,135

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

121,014

158,027

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Finance lease liabilities

65,822

86,118

Other borrowings

55,192

71,909

121,014

158,027

Current loans and borrowings

2024
£

2023
£

Bank overdrafts

-

7,874

Finance lease liabilities

20,296

34,961

Other borrowings

22,335

20,984

42,631

63,819

 

Fred Pope Engineering Services Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 July 2024

10

Related party transactions

Transactions with directors

2024

At 1 August 2023
£

Advances to director
£

Repayments by director
£

At 31 July 2024
£

F G Pope

Amounts owing to the company by F G Pope

81,946

36,110

(38,219)

79,837

The company charges interest on the whole amount of its loan to F G Pope (director) at a rate at least equivalent to HMRC's official rate. For the year ended 31 July 2024, the company charged interest at 2.25%.

The balance is included within other debtors and there is no set repayment date.