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
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
PressOn Automotive Limited
Statement of financial position
as at 31 December 2024
Cash at bank and in hand
4,003
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)
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
PressOn Automotive Limited
Notes to the Accounts
for the period from 26 October 2023 to 31 December 2024
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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
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 (including purchased goodwill and patents) are included at cost less accumulated amortisation.
PressOn Automotive Limited
Notes to the Accounts
for the period from 26 October 2023 to 31 December 2024
4
Intangible fixed assets
Other
Charge for the period
1,333
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
Charge for the period
3,601
4,332
1,443
9,376
At 31 December 2024
3,601
4,332
1,443
9,376
At 31 December 2024
12,085
81,263
2,675
96,023
Amounts falling due within one year
Accrued income and prepayments
1,772
7
Creditors: amounts falling due within one year
2024
Taxes and social security
2,960
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.
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.