24 October 2023 false No description of principal activity Taxfiler 2024.6 SC786885business:PrivateLimitedCompanyLtd2023-10-242024-10-31 SC7868852023-10-23 SC7868852023-10-242024-10-31 SC786885business:AuditExempt-NoAccountantsReport2023-10-242024-10-31 SC786885business:FilletedAccounts2023-10-242024-10-31 SC7868852024-10-31 SC786885business:Director12023-10-242024-10-31 SC786885business:Director22023-10-242024-10-31 SC786885business:RegisteredOffice2023-10-242024-10-31 SC786885core:WithinOneYear2024-10-31 SC786885core:AfterOneYear2024-10-31 SC786885core:ShareCapitalcore:PreviouslyStatedAmount2024-10-31 SC786885core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-10-31 SC786885core:PreviouslyStatedAmount2024-10-31 SC786885business:SmallEntities2023-10-242024-10-31 SC786885countries:Scotland2023-10-242024-10-31 SC786885core:PlantMachinery2023-10-242024-10-31 SC786885core:MotorVehicles2023-10-242024-10-31 SC786885core:ComputerEquipment2023-10-242024-10-31 SC786885core:PlantMachinery2023-10-23 SC786885core:MotorVehicles2023-10-23 SC786885core:ComputerEquipment2023-10-23 SC786885core:PlantMachinery2024-10-31 SC786885core:MotorVehicles2024-10-31 SC786885core:ComputerEquipment2024-10-31 iso4217:GBP xbrli:pure
Company Registration No. SC786885 (Scotland)
Pfid Group Ltd Unaudited accounts for the period from 24 October 2023 to 31 October 2024
Pfid Group Ltd Unaudited accounts Contents
Page
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Pfid Group Ltd Company Information for the period from 24 October 2023 to 31 October 2024
Directors
Patrick Forman Carolyn Shearer
Company Number
SC786885 (Scotland)
Registered Office
Patrick Forman Industrial Doors North Lodge Kinbroon, Forgue Road, Rothienorman Inverurie Aberdeenshire AB51 8UE Scotland
Accountants
Callan Accountancy 21 - 23 Woodside Place Glasgow G3 7QL
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Pfid Group Ltd Statement of financial position as at 31 October 2024
2024 
Notes
£ 
Fixed assets
Tangible assets
386,853 
Current assets
Inventories
6,450 
Debtors
382,763 
Cash at bank and in hand
75,788 
465,001 
Creditors: amounts falling due within one year
(735,214)
Net current liabilities
(270,213)
Total assets less current liabilities
116,640 
Creditors: amounts falling due after more than one year
(37,358)
Provisions for liabilities
Deferred tax
(29,379)
Net assets
49,903 
Capital and reserves
Called up share capital
2 
Profit and loss account
49,901 
Shareholders' funds
49,903 
For the period ending 31 October 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 directors acknowledge their 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 of Directors and authorised for issue on 9 July 2025 and were signed on its behalf by
Carolyn Shearer Director Company Registration No. SC786885
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Pfid Group Ltd Notes to the Accounts for the period from 24 October 2023 to 31 October 2024
1
Statutory information
Pfid Group Ltd is a private company, limited by shares, registered in Scotland, registration number SC786885. The registered office is Patrick Forman Industrial Doors, North Lodge, Kinbroon, Forgue Road, Rothienorman, Inverurie, Aberdeenshire, AB51 8UE, Scotland.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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
25% Reducing Balance Method
Motor vehicles
25% Reducing Balance Method
Computer equipment
33% SML
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Pfid Group Ltd Notes to the Accounts for the period from 24 October 2023 to 31 October 2024
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 24 October 2023
- 
- 
- 
- 
Additions
88,625 
422,139 
5,155 
515,919 
At 31 October 2024
88,625 
422,139 
5,155 
515,919 
Depreciation
Charge for the period
21,813 
105,535 
1,718 
129,066 
At 31 October 2024
21,813 
105,535 
1,718 
129,066 
Net book value
At 31 October 2024
66,812 
316,604 
3,437 
386,853 
5
Debtors
2024 
£ 
Amounts falling due within one year
Trade debtors
363,401 
Accrued income and prepayments
19,164 
Other debtors
198 
382,763 
6
Creditors: amounts falling due within one year
2024 
£ 
VAT
21,235 
Obligations under finance leases and hire purchase contracts
29,864 
Trade creditors
177,000 
Taxes and social security
25,134 
Other creditors
17,748 
Loans from directors
464,233 
735,214 
7
Creditors: amounts falling due after more than one year
2024 
£ 
Obligations under finance leases and hire purchase contracts
37,358 
8
Average number of employees
During the period the average number of employees was 15.
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