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REGISTERED NUMBER: 04542228 (England and Wales)















PROFESSIONAL FASTENER SERVICES LIMITED

Unaudited Financial Statements for the Year Ended 31 March 2025






PROFESSIONAL FASTENER SERVICES LIMITED (REGISTERED NUMBER: 04542228)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PROFESSIONAL FASTENER SERVICES LIMITED

Company Information
for the Year Ended 31 March 2025







DIRECTORS: D Geddes
G Pearson





SECRETARY: D Geddes





REGISTERED OFFICE: 61 Charlotte Street
St Pauls Square
Birmingham
West Midlands
B3 1PX





REGISTERED NUMBER: 04542228 (England and Wales)





ACCOUNTANTS: Michael Dufty Partnership Limited
59-61 Charlotte Street
St Pauls Square
Birmingham
West Midlands
B3 1PX

PROFESSIONAL FASTENER SERVICES LIMITED (REGISTERED NUMBER: 04542228)

Balance Sheet
31 March 2025

2025 2024
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 203,710 207,750

CURRENT ASSETS
Stocks 1,154,749 923,210
Debtors 5 845,144 819,605
1,999,893 1,742,815
CREDITORS
Amounts falling due within one year 6 1,846,107 1,612,628
NET CURRENT ASSETS 153,786 130,187
TOTAL ASSETS LESS CURRENT
LIABILITIES

357,496

337,937

CREDITORS
Amounts falling due after more than one year 7 247,163 229,556
NET ASSETS 110,333 108,381

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 110,133 108,181
SHAREHOLDERS' FUNDS 110,333 108,381

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

PROFESSIONAL FASTENER SERVICES LIMITED (REGISTERED NUMBER: 04542228)

Balance Sheet - continued
31 March 2025


The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 26 June 2025 and were signed on its behalf by:





G Pearson - Director


PROFESSIONAL FASTENER SERVICES LIMITED (REGISTERED NUMBER: 04542228)

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

1. STATUTORY INFORMATION

Professional Fastener Services 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.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 15% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

PROFESSIONAL FASTENER SERVICES LIMITED (REGISTERED NUMBER: 04542228)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2024 - 16 ) .

4. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1 April 2024 186,843 42,398 30,978
Additions - - -
At 31 March 2025 186,843 42,398 30,978
DEPRECIATION
At 1 April 2024 - 41,151 29,205
Charge for year - 622 443
At 31 March 2025 - 41,773 29,648
NET BOOK VALUE
At 31 March 2025 186,843 625 1,330
At 31 March 2024 186,843 1,247 1,773

PROFESSIONAL FASTENER SERVICES LIMITED (REGISTERED NUMBER: 04542228)

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

4. TANGIBLE FIXED ASSETS - continued

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 April 2024 29,870 52,740 342,829
Additions 1,630 - 1,630
At 31 March 2025 31,500 52,740 344,459
DEPRECIATION
At 1 April 2024 27,833 36,890 135,079
Charge for year 642 3,963 5,670
At 31 March 2025 28,475 40,853 140,749
NET BOOK VALUE
At 31 March 2025 3,025 11,887 203,710
At 31 March 2024 2,037 15,850 207,750

The net book value of tangible fixed assets includes £ 11,104 (2024 - £ 14,805 ) in respect of assets held under hire purchase contracts.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 741,255 663,488
Other debtors 12,009 66,009
Directors' loan accounts 65,492 36,887
Prepayments 26,388 53,221
845,144 819,605

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Bank loans and overdrafts 571,684 466,166
BCRS loan 31,700 39,432
Hire purchase contracts 1,091 6,996
Trade creditors 172,335 207,320
Social security and other taxes 166,414 158,997
Other creditors 516 5,318
Factoring liability 664,443 570,367
Accrued expenses 237,924 158,032
1,846,107 1,612,628

PROFESSIONAL FASTENER SERVICES LIMITED (REGISTERED NUMBER: 04542228)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2025 2024
£    £   
Bank loans - 1-2 years 16,281 15,965
Bank loans - 2-5 years 41,353 24,745
Bank loans more 5 yr by instal 70,528 117,304
BCRS loan - 1-2 years 32,664 23,441
BCRS loan - 2-5 years 86,337 46,647
Hire purchase contracts - 1,454
247,163 229,556

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 70,528 117,304

8. SECURED DEBTS

The following secured debts are included within creditors:

2025 2024
£    £   
Bank overdrafts 149,066 208,797
Bank loans 550,780 415,383
Hire purchase contracts 1,091 8,450
Factoring liability 664,443 570,367
BCRS Loan 150,701 109,520
1,516,081 1,312,517

The factoring liability is secured on the book debts of the company.

Hire purchase borrowings are secured on the assets to which the borrowing relates.

Bank borrowings are secured by a debenture on the assets of the company.

BCRS Loan is secured by a debenture on the assets of the company.

PROFESSIONAL FASTENER SERVICES LIMITED (REGISTERED NUMBER: 04542228)

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

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2025 and 31 March 2024:

2025 2024
£    £   
D Geddes
Balance outstanding at start of year 45,636 49,631
Amounts advanced 72,537 82,713
Amounts repaid (53,083 ) (86,708 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 65,090 45,636

G Pearson
Balance outstanding at start of year (8,751 ) 49,631
Amounts advanced 64,236 64,935
Amounts repaid (55,083 ) (123,317 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 402 (8,751 )