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Registration number: 00689349

Provincial Engineering (Colne) Limited
Unaudited Filleted Financial Statements
for the Year Ended 31 December 2024

Provincial Engineering (Colne) Limited

Contents

Company Information | 1
Accountants' Report | 2
Balance Sheet | 3 to 4
Notes to the Unaudited Financial Statements | 5 to 7

Provincial Engineering (Colne) Limited

Company Information

Directors | Mrs CS Allko Mr DW Holmes Mr T Holmes Mrs L Holmes

Company secretary | Mr T Holmes

Registered office | Unit 2 Waterside Industrial Estate Colne Lancashire BB8 0TA

Accountants | Hargreaves Brown & Benson Chartered Accountants 1 Bond Street Colne Lancashire BB8 9DG

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Provincial Engineering (Colne) Limited
for the Year Ended 31 December 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Provincial Engineering (Colne) Limited for the year ended 31 December 2024 as set out on pages 3 to 7 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Provincial Engineering (Colne) Limited, as a body. Our work has been undertaken solely to prepare for your approval the accounts of Provincial Engineering (Colne) Limited and state those matters that we have agreed to state to the Board of Directors of Provincial Engineering (Colne) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Provincial Engineering (Colne) Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Provincial Engineering (Colne) Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Provincial Engineering (Colne) Limited. You consider that Provincial Engineering (Colne) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Provincial Engineering (Colne) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................
Hargreaves Brown & Benson
Chartered Accountants
1 Bond Street
Colne
Lancashire
BB8 9DG

3 September 2025

Provincial Engineering (Colne) Limited

(Registration number: 00689349)
Balance Sheet as at 31 December 2024

| Note | 2024 £ | 2023 £
Fixed assets |  |  |
Investment property | 4 | 265,000 | 265,000
Current assets |  |  |
Cash at bank and in hand |  | 9,978 | 10,470
Creditors: Amounts falling due within one year | 6 | (48,995) | (51,791)
Net current liabilities |  | (39,017) | (41,321)
Total assets less current liabilities |  | 225,983 | 223,679
Creditors: Amounts falling due after more than one year | 6 | (13,323) | (13,595)
Provisions for liabilities |  | (33,345) | (33,345)
Net assets |  | 179,315 | 176,739
Capital and reserves |  |  |
Called up share capital |  | 50 | 50
Share premium reserve |  | 50 | 50
Other reserves |  | 142,153 | 142,153
Retained earnings |  | 37,062 | 34,486
Shareholders' funds |  | 179,315 | 176,739

Provincial Engineering (Colne) Limited

(Registration number: 00689349)
Balance Sheet as at 31 December 2024

For the financial 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.

Directors' responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
• | The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 3 September 2025 and signed on its behalf by:

......................................... Mrs CS Allko Director

Provincial Engineering (Colne) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 2
Waterside Industrial Estate
Colne
Lancashire
BB8 0TA

These financial statements were authorised for issue by the Board on 3 September 2025.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Depreciation

Asset class | Depreciation method and rate
Investment property |

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Provincial Engineering (Colne) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Provincial Engineering (Colne) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year was 4 (2023 - 4).

4 | Investment properties

| 2024 £
At 1 January | 265,000
At 31 December | 265,000

The property was revalued by an independent valuer on 7 March 2019.

5 | Debtors

| 2024 £ | 2023 £
| - | -

6 | Creditors

Creditors: amounts falling due within one year

| Note | 2024 £ | 2023 £
Due within one year |  |  |
Loans and borrowings | 7 | 45,076 | 49,340
Taxation and social security |  | 3,919 | 2,451
|  | 48,995 | 51,791

Creditors: amounts falling due after more than one year

| 2024 £ | 2023 £
Due after one year |  |
Deferred income | 13,323 | 13,595

7 | Loans and borrowings

Current loans and borrowings

| 2024 £ | 2023 £
Other borrowings | 45,076 | 49,340