Price Engines Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 03922900

Price Engines Limited

Filleted Unaudited Financial Statements

31 December 2024

Price Engines Limited

Statement of Financial Position

31 December 2024

	2024		2023
Note	£	£	£

Fixed assets

Tangible assets	5		24,750	26,942

Current assets

Debtors	6	353,604	388,578
Cash at bank and in hand		5,586	35,888
		---------	---------
		359,190	424,466

Creditors: amounts falling due within one year	7	300,310		272,471
		---------		---------
Net current assets			58,880	151,995
			--------	---------
Total assets less current liabilities			83,630	178,937

Creditors: amounts falling due after more than one year	8		9,167	19,167

Provisions	–	5,405
	--------	---------
Net assets	74,463	154,365
	--------	---------

Capital and reserves

Called up share capital	200	200
Profit and loss account	74,263	154,165
	--------	---------
Shareholders funds	74,463	154,365
	--------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the 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 financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Price Engines Limited

Statement of Financial Position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 16 September 2025 , and are signed on behalf of the board by:

Mr G Tyers

Director

Company registration number: 03922900

Price Engines Limited

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Pioneer House, Derby Road, Stenson, Barrow-on-Trent, Derbys, DE73 7HL.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The company's ability to continue as a going concern is dependent on the ability of its fellow subsidiary to repay the loan. The subsidiary's balance sheet reflects a deficiency of shareholders funds and it suffered a loss. If the subsidiary is unable to repay the loan, the company's financial position could be significantly weakened. The company has taken steps to mitigate the risks associated. These steps include, requiring the subsidiary to provide regular financial updates, monitoring the subsidiary's liquidity position and considering the subsidiary's ability to generate future cash flows. The company will continue to monitor the subsidiary's financial position and will make further disclosures in the financial statements if there are any material changes in the assessment of the going concern status.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Fixtures, fittings and equipment	-	between 5% and 20% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 12 (2023: 14 ).

5. Tangible assets

	Fixtures and fittings
	£
Cost
At 1 January 2024 and 31 December 2024	230,232
	---------
Depreciation
At 1 January 2024	203,290
Charge for the year	2,192
	---------
At 31 December 2024	205,482
	---------
Carrying amount
At 31 December 2024	24,750
	---------
At 31 December 2023	26,942
	---------

6. Debtors

	2024	2023
	£	£
Trade debtors	9,327	14,541
Amounts owed by group undertakings and undertakings in which the company has a participating interest	344,277	347,325
Other debtors	–	26,712
	---------	---------
	353,604	388,578
	---------	---------

7. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	10,000	10,000
Trade creditors	103,766	78,249
Corporation tax	–	1,138
Social security and other taxes	170,218	164,079
Other creditors	16,326	19,005
	---------	---------
	300,310	272,471
	---------	---------

Bank loans includes amounts owed in respective of a bounce back loan secured by the UK government.

8. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Bank loans and overdrafts	9,167	19,167
	-------	--------

Bank loans includes amounts owed in respective of a bounce back loan secured by the UK government.

9. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	2024
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
Mr G Tyers	26,712	–	( 27,000)	( 288)
	--------	----	--------	----

	2023
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
Mr G Tyers	( 288)	27,000	–	26,712
	----	--------	----	--------

The Director's loan is repayable upon demand and the balance attracts no interest.

10. Controlling party

The company is controlled by Engine Mobile Holdings Limited, a company registered in England and Wales.