1 November 2023 v2025.36.1 limited_company_frs_102_section_1a_v1_1_2 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP082675242023-11-012024-10-31082675242024-10-31082675242023-10-3108267524core:WithinOneYear2024-10-3108267524core:WithinOneYear2023-10-3108267524core:ShareCapital2024-10-3108267524core:ShareCapital2023-10-3108267524core:RetainedEarningsAccumulatedLosses2024-10-3108267524core:RetainedEarningsAccumulatedLosses2023-10-3108267524bus:Director12023-11-012024-10-3108267524bus:RegisteredOffice2023-11-012024-10-3108267524core:PlantMachinery2023-11-012024-10-3108267524core:MotorVehicles2023-11-012024-10-31082675242022-11-012023-10-3108267524core:LandBuildings2023-11-0108267524core:PlantMachinery2023-11-01082675242023-11-0108267524core:LandBuildings2024-10-3108267524core:PlantMachinery2024-10-3108267524core:LandBuildings2023-10-3108267524core:PlantMachinery2023-10-310826752412023-11-012024-10-3108267524countries:EnglandWales2023-11-012024-10-3108267524bus:AuditExemptWithAccountantsReport2023-11-012024-10-3108267524bus:PrivateLimitedCompanyLtd2023-11-012024-10-3108267524bus:SmallEntities2023-11-012024-10-3108267524bus:FullAccounts2023-11-012024-10-31
Company registration number:
08267524
Pencefn Engineering Limited
Unaudited Filleted Financial Statements for the year ended
31 October 2024
Proud Goulbourn Accountants Limited
Chartered Accountants
Office 16, Hamilton Davies House, 117c Liverpool Road, Cadishead, Manchester, M44 5BG, United Kingdom
Pencefn Engineering Limited
Chartered accountant's report to the board of directors on the preparation of the unaudited statutory financial statements of Pencefn Engineering Limited
Year ended
31 October 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the
financial statements
of
Pencefn Engineering Limited
for the year ended
31 October 2024
which comprise the income statement, statement of financial position and related notes 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 icaew.com/​regulations.
This report is made solely to the Board of Directors of
Pencefn Engineering Limited
, as a body. Our work has been undertaken solely to prepare for your approval the
financial statements
of
Pencefn Engineering Limited
and state those matters that we have agreed to state to the Board of Directors of
Pencefn Engineering 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
Pencefn Engineering Limited
and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that
Pencefn Engineering Limited
has kept adequate accounting records and to prepare statutory
financial statements
that give a true and fair view of the assets, liabilities, financial position and profit of
Pencefn Engineering Limited
. You consider that
Pencefn Engineering 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 financial statements of Pencefn Engineering 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 financial statements.
Proud Goulbourn Accountants Limited
Chartered Accountants
Office 16, Hamilton Davies House
117c Liverpool Road
Cadishead
Manchester
M44 5BG
United Kingdom
Date:
3 June 2025
Pencefn Engineering Limited
Statement of Financial Position
31 October 2024
20242023
Note££
Fixed assets    
Tangible assets 5
14,557
 
14,628
 
Current assets    
Stocks
11,230
 
11,230
 
Debtors 6
8,361
 
8,361
 
Cash at bank and in hand
3,410
 
2,276
 
23,001
 
21,867
 
Creditors: amounts falling due within one year 7
(82,927
)
(83,945
)
Net current liabilities
(59,926
)
(62,078
)
Total assets less current liabilities (45,369 ) (47,450 )
Capital and reserves    
Called up share capital
1
 
1
 
Profit and loss account
(45,370
)
(47,451
)
Shareholders deficit
(45,369
)
(47,450
)
For the year ending
31 October 2024
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
  • The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
  • The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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.
These
financial statements
were approved by the board of directors and authorised for issue on
3 June 2025
, and are signed on behalf of the board by:
G Thomas
Director
Company registration number:
08267524
Pencefn Engineering Limited
Notes to the Financial Statements
Year ended
31 October 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
Pencefn
,
Sarnau
,
Bala
,
Gwynedd
,
LL23 7LG
, .

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Plant and machinery
20% straight line
Motor vehicles
25% straight line

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.
Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price unless the arrangement constitutes a financing transaction, when it is recognised at the present value of future payments.

4 Average number of employees

The average number of persons employed by the company during the year was
1
(2023:
1.00
).

5 Tangible assets

Land and buildingsPlant and machinery etc.Total
£££
Cost      
At
1 November 2023
13,064
 
24,031
 
37,095
 
Additions -  
675
 
675
 
At
31 October 2024
13,064
 
24,706
 
37,770
 
Depreciation      
At
1 November 2023
-  
22,467
 
22,467
 
Charge -  
746
 
746
 
At
31 October 2024
-  
23,213
 
23,213
 
Carrying amount      
At
31 October 2024
13,064
 
1,493
 
14,557
 
At 31 October 2023
13,064
 
1,564
 
14,628
 

6 Debtors

20242023
££
Trade debtors
8,361
 
8,361
 

7 Creditors: amounts falling due within one year

20242023
££
Taxation and social security
1,216
 
816
 
Other creditors
81,711
 
83,129
 
82,927
 
83,945
 

8 Director's advances, credit and guarantees

The director has maintained a credit balance on his loan account which stood at £57,068 at the end of the year