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REGISTERED NUMBER: 07748911 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2024

FOR

PECM SYSTEMS LTD

PECM SYSTEMS LTD (REGISTERED NUMBER: 07748911)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST AUGUST 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PECM SYSTEMS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST AUGUST 2024







DIRECTOR: J S Duffield





REGISTERED OFFICE: 36-40 Doncaster Road
Barnsley
South Yorkshire
S70 1TL





REGISTERED NUMBER: 07748911 (England and Wales)





ACCOUNTANTS: Seaman Herbert & Co
36 - 40 Doncaster Road
Barnsley
South Yorkshire
S70 1TL

PECM SYSTEMS LTD (REGISTERED NUMBER: 07748911)

BALANCE SHEET
31ST AUGUST 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 491,294 241,871

CURRENT ASSETS
Stocks 5 67,000 65,000
Debtors 6 109,370 107,307
Cash at bank 24,361 103,297
200,731 275,604
CREDITORS
Amounts falling due within one year 7 86,536 133,913
NET CURRENT ASSETS 114,195 141,691
TOTAL ASSETS LESS CURRENT
LIABILITIES

605,489

383,562

CREDITORS
Amounts falling due after more than one
year

8

(89,577

)

(50,160

)

PROVISIONS FOR LIABILITIES 9 (84,907 ) (49,511 )
NET ASSETS 431,005 283,891

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 10 343,448 276,749
Retained earnings 87,457 7,042
SHAREHOLDERS' FUNDS 431,005 283,891

PECM SYSTEMS LTD (REGISTERED NUMBER: 07748911)

BALANCE SHEET - continued
31ST AUGUST 2024


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st August 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 23rd May 2025 and were signed by:





J S Duffield - Director


PECM SYSTEMS LTD (REGISTERED NUMBER: 07748911)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST AUGUST 2024

1. STATUTORY INFORMATION

PECM Systems Ltd 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 - 5% on cost
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 33% on cost

Stocks
Stock of materials is valued at the lower of cost and net realisable value.

Long term contracts
Work in Progress is valued at the lower of cost and net realisable value.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Long term contracts are those extending in excess of twelve months and any of a shorter duration which are material to the activity of the period. Attributable profit is recognised, once the outcome of a long term contract can be assessed with reasonable certainty, by including in the profit and loss account turnover and related costs as contract activity progresses. Immediate provision is made for all foreseeable losses if a contract is assessed as unprofitable.

Long term contract balances represent costs incurred on specific contracts, net of amounts transferred to cost of sales in respect of work recorded as turnover, less all foreseeable losses and payments on account not matched with turnover.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


PECM SYSTEMS LTD (REGISTERED NUMBER: 07748911)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST AUGUST 2024

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST OR VALUATION
At 1st September 2023 353,018 432 47,795 15,779 417,024
Additions 5,350 179 55,227 1,278 62,034
Disposals - - (42,779 ) - (42,779 )
Revaluations 244,650 - - - 244,650
At 31st August 2024 603,018 611 60,243 17,057 680,929
DEPRECIATION
At 1st September 2023 140,684 173 20,261 14,035 175,153
Charge for year 17,784 35 11,043 1,477 30,339
Eliminated on disposal - - (15,857 ) - (15,857 )
At 31st August 2024 158,468 208 15,447 15,512 189,635
NET BOOK VALUE
At 31st August 2024 444,550 403 44,796 1,545 491,294
At 31st August 2023 212,334 259 27,534 1,744 241,871

PECM SYSTEMS LTD (REGISTERED NUMBER: 07748911)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST AUGUST 2024

4. TANGIBLE FIXED ASSETS - continued

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

Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
Valuation in 2015 326,108 - - - 326,108
Valuation in 2024 244,650 - - - 244,650
Cost 32,260 611 60,243 17,057 110,171
603,018 611 60,243 17,057 680,929

5. STOCKS
2024 2023
£    £   
Stocks 67,000 65,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 44,896 52,032
Other debtors 10,587 10,587
Directors' current accounts - 9,624
Prepayments and accrued income 21,592 25,194
Prepayments 32,295 9,870
109,370 107,307

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 21,683 14,323
Hire purchase contracts 7,816 4,842
Trade creditors 8,928 35,293
Tax 2,937 19,112
Social security and other taxes 14,492 38,703
VAT 467 3,314
Other creditors 4,471 10,085
Directors' current accounts 675 -
Accrued expenses 25,067 8,241
86,536 133,913

PECM SYSTEMS LTD (REGISTERED NUMBER: 07748911)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST AUGUST 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 23,067 9,900
Bank loans - 2-5 years 32,908 13,798
Hire purchase contracts 33,602 26,462
89,577 50,160

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 84,907 49,511

Deferred
tax
£   
Balance at 1st September 2023 49,511
Revaluation adjustment 35,396
Balance at 31st August 2024 84,907

10. RESERVES
Revaluation
reserve
£   
At 1st September 2023 276,749
Revaluation reserve 209,254
Transfer to reserves (142,555 )

At 31st August 2024 343,448

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st August 2024 and 31st August 2023:

2024 2023
£    £   
J S Duffield
Balance outstanding at start of year 9,624 13,357
Amounts advanced 10,109 9,624
Amounts repaid (20,408 ) (13,357 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (675 ) 9,624

12. ULTIMATE CONTROLLING PARTY

The controlling party is J S Duffield.