Acorah Software Products - Accounts Production 16.5.460 false true 31 March 2024 1 April 2023 false 7 August 2025 1 April 2024 31 March 2025 31 March 2025 01419069 Mr D H Rowe Mrs V A Rowe true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 01419069 2024-03-31 01419069 2025-03-31 01419069 2024-04-01 2025-03-31 01419069 frs-core:CurrentFinancialInstruments 2025-03-31 01419069 frs-core:Non-currentFinancialInstruments 2025-03-31 01419069 frs-core:BetweenOneFiveYears 2025-03-31 01419069 frs-core:ComputerEquipment 2025-03-31 01419069 frs-core:ComputerEquipment 2024-04-01 2025-03-31 01419069 frs-core:ComputerEquipment 2024-03-31 01419069 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2025-03-31 01419069 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 01419069 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-03-31 01419069 frs-core:PlantMachinery 2025-03-31 01419069 frs-core:PlantMachinery 2024-04-01 2025-03-31 01419069 frs-core:PlantMachinery 2024-03-31 01419069 frs-core:WithinOneYear 2025-03-31 01419069 frs-core:ShareCapital 2025-03-31 01419069 frs-core:RetainedEarningsAccumulatedLosses 2025-03-31 01419069 frs-bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 01419069 frs-bus:FilletedAccounts 2024-04-01 2025-03-31 01419069 frs-bus:SmallEntities 2024-04-01 2025-03-31 01419069 frs-bus:Audited 2024-04-01 2025-03-31 01419069 frs-bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 01419069 1 2024-04-01 2025-03-31 01419069 frs-bus:Director1 2024-04-01 2025-03-31 01419069 frs-bus:CompanySecretary1 2024-04-01 2025-03-31 01419069 frs-countries:EnglandWales 2024-04-01 2025-03-31 01419069 2023-03-31 01419069 2024-03-31 01419069 2023-04-01 2024-03-31 01419069 frs-core:CurrentFinancialInstruments 2024-03-31 01419069 frs-core:Non-currentFinancialInstruments 2024-03-31 01419069 frs-core:BetweenOneFiveYears 2024-03-31 01419069 frs-core:MoreThanFiveYears 2024-03-31 01419069 frs-core:WithinOneYear 2024-03-31 01419069 frs-core:ShareCapital 2024-03-31 01419069 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31
Registered number: 01419069
P.T.G. Precision Engineers Limited
Financial Statements
For The Year Ended 31 March 2025
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 01419069
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 204,413 173,629
204,413 173,629
CURRENT ASSETS
Stocks 5 139,517 80,359
Debtors 6 563,204 669,796
Cash at bank and in hand 317,977 41,940
1,020,698 792,095
Creditors: Amounts Falling Due Within One Year 7 (756,704 ) (599,297 )
NET CURRENT ASSETS (LIABILITIES) 263,994 192,798
TOTAL ASSETS LESS CURRENT LIABILITIES 468,407 366,427
Creditors: Amounts Falling Due After More Than One Year 8 (71,044 ) (54,333 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (51,103 ) (41,774 )
NET ASSETS 346,260 270,320
CAPITAL AND RESERVES
Called up share capital 11 100,000 100,000
Profit and Loss Account 246,260 170,320
SHAREHOLDERS' FUNDS 346,260 270,320
Page 1
Page 2
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr D H Rowe
Director
7 August 2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
P.T.G. Precision Engineers Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01419069 . The registered office is 6 Houndiscombe Road, Plymouth, Devon, PL4 6HH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Significant judgements and estimations
Revenue recognition and Work in Progress - Contracts for the manufacturing of goods often run for a period that spans the financial reporting date, with revenue and profit on these contracts being based on the degree of completion at the year end. The revenue and profit recognised is calculated using costs incurred to date as a percentage of total expected costs multiplied by the proportion of expected profit on completion. Estimates are required for the percentage of the contract completed at the reporting date, and also on the estimate of the overall profit to be generated.
2.3. Turnover
Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 20% Straight Line
Plant & Machinery 10% Straight Line
Computer Equipment 33% Straight Line
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
2.6. Stocks and Work in Progress
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Page 3
Page 4
2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.8. Pensions
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 23 (2024: 25)
23 25
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Computer Equipment Total
£ £ £ £
Cost
As at 1 April 2024 28,360 536,518 9,743 574,621
Additions 4,649 56,973 755 62,377
As at 31 March 2025 33,009 593,491 10,498 636,998
Depreciation
As at 1 April 2024 25,755 365,494 9,743 400,992
Provided during the period 3,535 27,809 249 31,593
As at 31 March 2025 29,290 393,303 9,992 432,585
Net Book Value
As at 31 March 2025 3,719 200,188 506 204,413
As at 1 April 2024 2,605 171,024 - 173,629
Page 4
Page 5
5. Stocks
2025 2024
£ £
Stock 57,662 61,823
Work in progress 81,855 18,536
139,517 80,359
6. Debtors
2025 2024
£ £
Due within one year
Trade debtors 456,820 361,948
Other debtors 106,384 307,848
563,204 669,796
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 28,523 24,334
Trade creditors 94,213 65,837
Amounts owed to group undertakings 19,477 83,211
Amounts owed to participating interests 441,212 358,001
Other creditors 91,583 36,891
Taxation and social security 81,696 31,023
756,704 599,297
8. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 71,044 54,333
9. Secured Creditors
HSBC Invoice Finance has a floating charge on all property, fixtures and fittings and plant and machinery in the group of companies. The company may not take out any additional security against the charged assets, and the company may not dispose of any part of the fixed charged property.
Of the creditors the following amounts are secured against equpment owned by the company.
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 99,561 78,667
Page 5
Page 6
10. Obligations Under Finance Leases and Hire Purchase
2025 2024
£ £
The future minimum finance lease payments are as follows:
Not later than one year 28,523 24,334
Later than one year and not later than five years 71,044 54,333
99,567 78,667
99,567 78,667
11. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 100,000 100,000
12. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2025 2024
£ £
Not later than one year 65,658 80,000
Later than one year and not later than five years 229,191 240,603
Later than five years - 59,192
294,849 379,795
13. Ultimate Controlling Party
The company's immediate parent is PTG Holdings Limited, incorporated in England and Wales.
The ultimate parent is Applied Automation (Holdings) Limited, incorporated in England and Wales.
The most senior parent entity producing publicly available statements is Applied Automation (Holdings) Limited. These financial statements are available upon request from 6 Houndiscombe Road, Plymouth, Devon, United Kingdom, PL4 6HH.
The ultimate controlling party is David and Valarie Rowe.
14. Audit Information
The auditor's report on the accounts of P.T.G. Precision Engineers Limited for the year ended 31 March 2025 was unqualified.
The auditor's report was signed by Richard Baker (Senior Statutory Auditor) for and on behalf of Sumer Audit , Statutory Auditor.
Page 6