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Company Registration No. 15238892 (England and Wales)
PressOn Automotive Limited Unaudited accounts for the period from 26 October 2023 to 31 December 2024
PressOn Automotive Limited Unaudited accounts Contents
Page
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PressOn Automotive Limited Company Information for the period from 26 October 2023 to 31 December 2024
Director
Andrew Michael Wilson
Company Number
15238892 (England and Wales)
Registered Office
Unit 5 Revenge Road Chatham Kent ME5 8UD United Kingdom
Accountants
Surrey Hills Accountancy Limited The Old Workshop Longfrey Cottage Dorking Road Chilworth GU4 8RH
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PressOn Automotive Limited Statement of financial position as at 31 December 2024
2024 
Notes
£ 
Fixed assets
Intangible assets
5,692 
Tangible assets
96,023 
101,715 
Current assets
Inventories
1,000 
Debtors
23,698 
Cash at bank and in hand
4,003 
28,701 
Creditors: amounts falling due within one year
(83,022)
Net current liabilities
(54,321)
Total assets less current liabilities
47,394 
Creditors: amounts falling due after more than one year
(243,176)
Net liabilities
(195,782)
Capital and reserves
Called up share capital
100 
Profit and loss account
(195,882)
Shareholders' funds
(195,782)
For the period ending 31 December 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 in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 2 April 2025 and were signed on its behalf by
Andrew Michael Wilson Director Company Registration No. 15238892
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PressOn Automotive Limited Notes to the Accounts for the period from 26 October 2023 to 31 December 2024
1
Statutory information
PressOn Automotive Limited is a private company, limited by shares, registered in England and Wales, registration number 15238892. The registered office is Unit 5 Revenge Road, Chatham, Kent, ME5 8UD, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
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 from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
Straight Line 4 years
Fixtures & fittings
Straight Line 5 years
Computer equipment
Straight Line 3 years
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
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PressOn Automotive Limited Notes to the Accounts for the period from 26 October 2023 to 31 December 2024
4
Intangible fixed assets
Other 
£ 
Cost
At 26 October 2023
- 
Additions
7,025 
At 31 December 2024
7,025 
Amortisation
At 26 October 2023
- 
Charge for the period
1,333 
At 31 December 2024
1,333 
Net book value
At 31 December 2024
5,692 
5
Tangible fixed assets
Plant & machinery 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 26 October 2023
- 
- 
- 
- 
Additions
15,686 
85,595 
4,118 
105,399 
At 31 December 2024
15,686 
85,595 
4,118 
105,399 
Depreciation
Charge for the period
3,601 
4,332 
1,443 
9,376 
At 31 December 2024
3,601 
4,332 
1,443 
9,376 
Net book value
At 31 December 2024
12,085 
81,263 
2,675 
96,023 
6
Debtors
2024 
£ 
Amounts falling due within one year
VAT
6,430 
Trade debtors
15,456 
Accrued income and prepayments
1,772 
Other debtors
40 
23,698 
7
Creditors: amounts falling due within one year
2024 
£ 
Trade creditors
54,030 
Taxes and social security
2,960 
Accruals
26,032 
83,022 
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PressOn Automotive Limited Notes to the Accounts for the period from 26 October 2023 to 31 December 2024
8
Creditors: amounts falling due after more than one year
2024 
£ 
Amounts owed to group undertakings and other participating interests
243,176 
9
Transactions with related parties
The company has taken advantage of the exemption available in FRS102 section 33.1A "Related Party Transactions" whereby it has not disclosed transactions that have taken place between two or more members of group, provided that any subsidiary which is a party to the transaction is wholly owned by such a member.
10
Controlling party
The immediate and ultimate parent undertaking and controlling party is PressOn Limited. The registered office of PressOn Limited is Unit 5 Revenge Road, Chatham, Kent, England, ME5 8UD
11
Average number of employees
During the period the average number of employees was 5.
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