7 false false false false false false false false false false true false false false false false false No description of principal activity 2024-01-01 Sage Accounts Production Advanced 2024 - FRS102_2024 xbrli:pure xbrli:shares iso4217:GBP 03105172 2024-01-01 2024-12-31 03105172 2024-12-31 03105172 2023-12-31 03105172 2023-01-01 2023-12-31 03105172 2023-12-31 03105172 2022-12-31 03105172 core:LandBuildings core:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 03105172 core:PlantMachinery 2024-01-01 2024-12-31 03105172 core:MotorVehicles 2024-01-01 2024-12-31 03105172 bus:Director1 2024-01-01 2024-12-31 03105172 core:WithinOneYear 2024-12-31 03105172 core:WithinOneYear 2023-12-31 03105172 core:AfterOneYear 2024-12-31 03105172 core:AfterOneYear 2023-12-31 03105172 core:PlantMachinery 2023-12-31 03105172 core:MotorVehicles 2023-12-31 03105172 core:PlantMachinery 2024-12-31 03105172 core:MotorVehicles 2024-12-31 03105172 core:ShareCapital 2024-12-31 03105172 core:ShareCapital 2023-12-31 03105172 core:CapitalRedemptionReserve 2024-12-31 03105172 core:CapitalRedemptionReserve 2023-12-31 03105172 core:RetainedEarningsAccumulatedLosses 2024-12-31 03105172 core:RetainedEarningsAccumulatedLosses 2023-12-31 03105172 core:PlantMachinery 2023-12-31 03105172 core:MotorVehicles 2023-12-31 03105172 bus:SmallEntities 2024-01-01 2024-12-31 03105172 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 03105172 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 03105172 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 03105172 bus:FullAccounts 2024-01-01 2024-12-31 03105172 core:OfficeEquipment 2024-01-01 2024-12-31 03105172 core:OfficeEquipment 2023-12-31 03105172 core:OfficeEquipment 2024-12-31 03105172 core:KeyManagementIndividualGroup1 2024-01-01 2024-12-31 03105172 core:KeyManagementIndividualGroup1 2024-12-31
COMPANY REGISTRATION NUMBER: 03105172
P & W SITE FIXING LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 December 2024
P & W SITE FIXING LIMITED
STATEMENT OF FINANCIAL POSITION
31 December 2024
2024
2023
Note
£
£
£
£
FIXED ASSETS
Tangible assets
5
47,284
39,890
CURRENT ASSETS
Stocks
120,000
5,000
Debtors
6
122,845
76,199
Cash at bank and in hand
139,281
283,173
----------
----------
382,126
364,372
CREDITORS: amounts falling due within one year
7
83,371
56,170
----------
----------
NET CURRENT ASSETS
298,755
308,202
----------
----------
TOTAL ASSETS LESS CURRENT LIABILITIES
346,039
348,092
CREDITORS: amounts falling due after more than one year
8
45,784
61,561
----------
----------
NET ASSETS
300,255
286,531
----------
----------
P & W SITE FIXING LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 December 2024
2024
2023
Note
£
£
£
£
CAPITAL AND RESERVES
Called up share capital
50
50
Capital redemption reserve
50
50
Profit and loss account
300,155
286,431
----------
----------
SHAREHOLDERS FUNDS
300,255
286,531
----------
----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the year ending 31 December 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 his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 4 June 2025 , and are signed on behalf of the board by:
Mr. N. Wilson
Director
Company registration number: 03105172
P & W SITE FIXING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2024
1. GENERAL INFORMATION
The company is a private limited company limited by shares. The registered address is Unit 1 Riverside Works, Methley Road, Castleford, West Yorkshire, WF10 1PW.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with FRS 102 Section 1A, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
3. ACCOUNTING POLICIES
(a) Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
(b) Going concern
The UK economy has recently been impacted by rising inflation, interest rates and energy costs, exacerbated by the war in Ukraine. All these matters have impacted the company's trading results to a greater or lesser extent. At the date of signing these financial statements, the directors have considered the effect of these matters on the company with the information available to it and do not believe that it will affect the ability of the company to continue to trade for the foreseeable future. On this basis, the directors have prepared these financial statements on a going concern basis.
(c) Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, 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.
(d) Current & deferred tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
(e) Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
(f) Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold Property
-
2% reducing balance
Plant & Machinery
-
15% reducing balance
Motor Vehicles
-
25% reducing balance
Equipment
-
15% reducing balance
(g) Impairment of fixed assets
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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs.
(h) 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 stock to its present location and condition.
(i) Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts 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.
(j) Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it it becomes receivable.
(k) Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
(l) Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 7 (2023: 9 ).
5. TANGIBLE ASSETS
Plant and machinery
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 January 2024
92,901
49,808
16,454
159,163
Additions
396
19,599
742
20,737
Disposals
( 6,522)
( 4,332)
( 10,854)
--------
--------
--------
----------
At 31 December 2024
86,775
69,407
12,864
169,046
--------
--------
--------
----------
Depreciation
At 1 January 2024
63,083
44,156
12,034
119,273
Charge for the year
4,419
6,314
583
11,316
Disposals
( 5,779)
( 3,048)
( 8,827)
--------
--------
--------
----------
At 31 December 2024
61,723
50,470
9,569
121,762
--------
--------
--------
----------
Carrying amount
At 31 December 2024
25,052
18,937
3,295
47,284
--------
--------
--------
----------
At 31 December 2023
29,818
5,652
4,420
39,890
--------
--------
--------
----------
6. DEBTORS
2024
2023
£
£
Trade debtors
60,276
31,960
Other debtors
62,569
44,239
----------
--------
122,845
76,199
----------
--------
7. CREDITORS: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
34,946
34,946
Trade creditors
28,846
7,269
Accruals and deferred income
1,723
1,642
Social security and other taxes
8,404
3,644
Obligations under finance leases and hire purchase contracts
9,077
7,490
Director loan accounts
10
63
Other creditors
365
1,116
--------
--------
83,371
56,170
--------
--------
Liabilities disclosed under creditors falling due within one year include bank loans £34,946 (2023 - £34,946) and hire purchase liabilities £9,077 (2023 - £7,490), these liabilities are secured by the company.
8. CREDITORS: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
36,605
56,856
Accruals and deferred income
71
81
Obligations under finance leases and hire purchase contracts
9,108
4,624
--------
--------
45,784
61,561
--------
--------
Liabilities disclosed under creditors falling due after more than one year include bank loans £36,605 (2023 - £56,856), and hire purchase liabilities £9,108 (2023 - £4,624), these liabilities are secured by the company.
9. RELATED PARTY TRANSACTIONS
As at 31 December 2024, the directors were owed £ 10 (2023 - £63) on a directors loan account. No interest is charged on the loan and the loan carries no fixed date for repayments.