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REGISTERED NUMBER: 06994593 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

FOR

PNP DRIVES & CONTROLS LIMITED

PNP DRIVES & CONTROLS LIMITED (REGISTERED NUMBER: 06994593)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 July 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PNP DRIVES & CONTROLS LIMITED

COMPANY INFORMATION
for the Year Ended 31 July 2024







DIRECTOR: Mr N D Hickling





SECRETARY: Ms L M Cain





REGISTERED OFFICE: Unit E207
Warmco Industrial Estate
Ashton Under Lyne
Mossley
Lancashire
OL5 9AY





REGISTERED NUMBER: 06994593 (England and Wales)





ACCOUNTANTS: Xeinadin
100 Barbirolli Square
Manchester
M2 3BD

PNP DRIVES & CONTROLS LIMITED (REGISTERED NUMBER: 06994593)

BALANCE SHEET
31 July 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Debtors 6 62,634 69,632
Cash at bank and in hand 41,946 40,095
104,580 109,727
CREDITORS
Amounts falling due within one year 7 68,141 83,737
NET CURRENT ASSETS 36,439 25,990
TOTAL ASSETS LESS CURRENT
LIABILITIES

36,439

25,990

CREDITORS
Amounts falling due after more than one
year

8

14,980

25,098
NET ASSETS 21,459 892

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 21,359 792
SHAREHOLDERS' FUNDS 21,459 892

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 April 2025 and were signed by:





Mr N D Hickling - Director


PNP DRIVES & CONTROLS LIMITED (REGISTERED NUMBER: 06994593)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 July 2024


1. STATUTORY INFORMATION

PNP Drives & Controls Limited is a private company, limited by shares, registered in England and Wales, registration number 06994593. The address of the registered office and principal place of business is Unit E207, Warmco Industrial Estate, Ashton Under Lyne, Mossley, Lancashire, OL5 9AY.

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.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the company's accounting policies above, management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period,or in the period of the revision and future periods if the revision affects both current and future period.

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

Turnover is generated from the provision of electrical installation services provided in the normal course of business.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of 3 years.

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Depreciation on fixed assets is charged to the profit and loss so as to write off their value, over their estimated useful lives, using the following methods:

Computer equipment33% on cost

At each balance sheet date, the company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that any items of tangible fixed assets have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any.

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately.

Taxation
Taxation for the year comprises current tax. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current 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.

PNP DRIVES & CONTROLS LIMITED (REGISTERED NUMBER: 06994593)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 July 2024


2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
At 1 August 2023
and 31 July 2024 2,500
AMORTISATION
At 1 August 2023
and 31 July 2024 2,500
NET BOOK VALUE
At 31 July 2024 -
At 31 July 2023 -

5. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 August 2023
and 31 July 2024 2,024
DEPRECIATION
At 1 August 2023
and 31 July 2024 2,024
NET BOOK VALUE
At 31 July 2024 -
At 31 July 2023 -

PNP DRIVES & CONTROLS LIMITED (REGISTERED NUMBER: 06994593)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 July 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 61,418 65,444
VAT - 3,880
Called up share capital not paid 100 100
Prepayments and accrued income 1,116 208
62,634 69,632

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 9,858 9,598
Social security and other taxes 713 697
VAT 3,550 -
Other creditors 51,570 71,077
Accrued expenses 2,450 2,365
68,141 83,737

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 14,980 25,098

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 24,838 34,696

National Westminster Bank PLC loan is secured by a fixed and floating charge over the undertaking and all assets of the business.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
80 Ordinary A £1.00 80 80
20 Ordinary B £1.00 20 20
100 100

11. ULTIMATE CONTROLLING PARTY

The controlling party is Mr N D Hickling.