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REGISTERED NUMBER: 05515287 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 January 2025

for

Priest Engineering Company
(Poole) Limited

Priest Engineering Company
(Poole) Limited (Registered number: 05515287)






Contents of the Financial Statements
for the Year Ended 31 January 2025




Page

Company Information 1

Abridged Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 5


Priest Engineering Company
(Poole) Limited

Company Information
for the Year Ended 31 January 2025







DIRECTOR: M C Priest





REGISTERED OFFICE: 4 Cedar Park
Cobham Road
Ferndown Industrial Estate
Wimborne
Dorset
BH21 7SF





REGISTERED NUMBER: 05515287 (England and Wales)





ACCOUNTANTS: Ward Goodman
4 Cedar Park
Cobham Road
Ferndown Industrial Estate
Wimborne
Dorset
BH21 7SF

Priest Engineering Company
(Poole) Limited (Registered number: 05515287)

Abridged Balance Sheet
31 January 2025

2025 2024
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 386,625 367,294

CURRENT ASSETS
Stocks 636,726 429,588
Debtors 1,040,121 512,733
Prepayments and accrued income 21,013 22,587
Cash at bank and in hand 1,309,587 661,017
3,007,447 1,625,925
CREDITORS
Amounts falling due within one year 807,076 365,043
NET CURRENT ASSETS 2,200,371 1,260,882
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,586,996

1,628,176

PROVISIONS FOR LIABILITIES (96,656 ) (91,823 )

ACCRUALS AND DEFERRED INCOME (2,310 ) (2,005 )
NET ASSETS 2,488,030 1,534,348

CAPITAL AND RESERVES
Called up share capital 5,000 5,000
Retained earnings 2,483,030 1,529,348
SHAREHOLDERS' FUNDS 2,488,030 1,534,348

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 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.

Priest Engineering Company
(Poole) Limited (Registered number: 05515287)

Abridged Balance Sheet - continued
31 January 2025


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 January 2025 in accordance with Section 444(2A) of the Companies Act 2006.

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 2 May 2025 and were signed by:





M C Priest - Director


Priest Engineering Company
(Poole) Limited (Registered number: 05515287)

Notes to the Financial Statements
for the Year Ended 31 January 2025

1. STATUTORY INFORMATION

Priest Engineering Company (Poole) Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Specifically, revenue from the sale of goods is recognised when goods are delivered when goods are delivered and the legal title is passed.

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 - Straight line over 20 years
Motor vehicles - 20% on reducing balance
Computer equipment - 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial in such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Priest Engineering Company
(Poole) Limited (Registered number: 05515287)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2025

2. ACCOUNTING POLICIES - continued

Impairment of assets
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 32 (2024 - 25 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 February 2024 1,040,693
Additions 79,452
At 31 January 2025 1,120,145
DEPRECIATION
At 1 February 2024 673,399
Charge for year 60,121
At 31 January 2025 733,520
NET BOOK VALUE
At 31 January 2025 386,625
At 31 January 2024 367,294


5. OTHER FINANCIAL COMMITMENTS

At the year end the company had credit card commitments of £1,785 (2024: £3,051).

There were no other financial commitments at the year end.

6. RELATED PARTY DISCLOSURES

The company has paid rent of £60,000 (2024 - £60,000) to M & W Wessex Limited, a company under common control during the year ended 31 January 2024.

7. ULTIMATE CONTROLLING PARTY

Mr M C Priest, the director, controls the company by way of controlling directly 100% of the issued ordinary share capital of the ultimate parent company.