| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 OCTOBER 2024 |
| FOR |
| P.C.M. ENGINEERING SERVICES (BELFAST) |
| LIMITED |
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 OCTOBER 2024 |
| FOR |
| P.C.M. ENGINEERING SERVICES (BELFAST) |
| LIMITED |
| P.C.M. ENGINEERING SERVICES (BELFAST) |
| LIMITED (REGISTERED NUMBER: NI024198) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the year ended 31 October 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| P.C.M. ENGINEERING SERVICES (BELFAST) |
| LIMITED |
| COMPANY INFORMATION |
| for the year ended 31 October 2024 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Business Advisors and Accountants |
| Q Court |
| 3 Quality Street |
| Edinburgh |
| EH4 5BP |
| P.C.M. ENGINEERING SERVICES (BELFAST) |
| LIMITED (REGISTERED NUMBER: NI024198) |
| BALANCE SHEET |
| 31 October 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | 8 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| P.C.M. ENGINEERING SERVICES (BELFAST) |
| LIMITED (REGISTERED NUMBER: NI024198) |
| BALANCE SHEET - continued |
| 31 October 2024 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| P.C.M. ENGINEERING SERVICES (BELFAST) |
| LIMITED (REGISTERED NUMBER: NI024198) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the year ended 31 October 2024 |
| 1. | STATUTORY INFORMATION |
| P.C.M. Engineering Services (Belfast) Limited is a |
| 2. | ACCOUNTING POLICIES |
| BASIS OF PREPARING THE FINANCIAL STATEMENTS |
| The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. |
| TURNOVER |
| Turnover is measured at the fair value of the consideration received or receivable, excluding value added tax for the design, manufacture and repair of machinery and equipment. |
| TANGIBLE FIXED ASSETS |
| Improvements to property | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Tangible fixed assets are stated at cost less accumulated depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended. |
| STOCKS |
| Stocks are stated 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 stock to its present location and condition. Cost is calculated using the first-in, first-out basis. Provision is made for damaged, obsolete and slow-moving stock where appropriate. |
| FINANCIAL INSTRUMENTS |
| The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares. |
| Debt instruments including loans and other accounts receivable and payable, are initially measured at the undiscounted amount of the cash or other consideration expected to be paid or received. |
| TAXATION |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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. |
| P.C.M. ENGINEERING SERVICES (BELFAST) |
| LIMITED (REGISTERED NUMBER: NI024198) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 October 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| 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. |
| PROVISIONS FOR LIABILITIES |
| Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation. |
| The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation. |
| Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value using a pre-tax discount rate. The unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises. |
| IMPAIRMENT |
| Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset’s cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease. |
| INTANGIBLE ASSETS |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amplification and any accumulated impairment losses. |
| Website is being amortisation evenly over its estimated useful life of three years. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| P.C.M. ENGINEERING SERVICES (BELFAST) |
| LIMITED (REGISTERED NUMBER: NI024198) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 October 2024 |
| 4. | INTANGIBLE FIXED ASSETS |
| Computer |
| software |
| £ |
| COST |
| At 1 November 2023 |
| and 31 October 2024 |
| AMORTISATION |
| At 1 November 2023 |
| Amortisation for year |
| At 31 October 2024 |
| NET BOOK VALUE |
| At 31 October 2024 |
| At 31 October 2023 |
| 5. | TANGIBLE FIXED ASSETS |
| Improvements | Fixtures |
| to | Plant and | and | Motor |
| property | machinery | fittings | vehicles | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 November 2023 |
| Additions |
| At 31 October 2024 |
| DEPRECIATION |
| At 1 November 2023 |
| Charge for year |
| At 31 October 2024 |
| NET BOOK VALUE |
| At 31 October 2024 |
| At 31 October 2023 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade debtors |
| Prepayments |
| P.C.M. ENGINEERING SERVICES (BELFAST) |
| LIMITED (REGISTERED NUMBER: NI024198) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 October 2024 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | PROVISIONS FOR LIABILITIES |
| 2024 | 2023 |
| £ | £ |
| Deferred tax | 13,807 | 16,437 |
| Deferred |
| tax |
| £ |
| Balance at 1 November 2023 |
| Credit to Statement of Income and Retained Earnings during year | ( |
) |
| Balance at 31 October 2024 |
| The provision for deferred taxation is made up of accelerated capital allowances. |
| 9. | RELATED PARTY DISCLOSURES |
| Included in "Other creditors" is an amount of £296,865 (2023 - £357,881) due to the directors from the company. This loan is interest free and has no fixed terms of repayment. |