REGISTERED NUMBER: NI039495 (Northern Ireland)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

PACC Engineering Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr Patrick Casey

REGISTERED OFFICE:

4b Tulnacross Road

COOKSTOWN

Co. Tyrone

BT80 9NH

REGISTERED NUMBER:

NI039495 (Northern Ireland)

ACCOUNTANTS:

Gildernew & Co Ltd

Six Northland Row

DUNGANNON

Co. Tyrone

BT71 6AW

FIXED ASSETS

Tangible assets

4

194,409

184,250

CURRENT ASSETS

Stocks

858,520

437,240

Debtors

5

536,370

643,741

Cash at bank and in hand

665,203

494,564

2,060,093

1,575,545

CREDITORS

Amounts falling due within one year

6

1,116,145

673,156

NET CURRENT ASSETS

943,948

902,389

TOTAL ASSETS LESS CURRENT LIABILITIES

1,138,357

1,086,639

PROVISIONS FOR LIABILITIES

45,205

42,050

NET ASSETS

1,093,152

1,044,589

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

1,093,151

1,044,588

SHAREHOLDERS' FUNDS

1,093,152

1,044,589

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 11 September 2025 and were signed by:

Mr Patrick Casey - Director

1.	STATUTORY INFORMATION

PACC Engineering Limited is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery

-

20% reducing balance

Stocks

Stocks and WIP are valued at the lower of cost and net realisable value. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing projects to their present location and condition.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stock or work in progress over its estimated selling price less costs to complete and sell is recognised as an impairment loss in the Profit and Loss Account. Reversal of impairment losses are also recognised in the Profit and Loss Account.

Financial instruments

A financial asset or a financial liability is recognised only when the company 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.

Where investments In non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.

Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception or hedging instruments in a designated hedging relationship. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant,these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2023 - 15 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 January 2024

585,165

16,555

77,759

679,479

Additions

23,500

1,756

29,831

55,087

Disposals

(52,194

)

(4,312

)

(33,583

)

(90,089

)

At 31 December 2024

556,471

13,999

74,007

644,477

DEPRECIATION

At 1 January 2024

425,519

11,901

57,809

495,229

Charge for year

25,462

803

12,117

38,382

Eliminated on disposal

(48,021

)

(3,253

)

(32,269

)

(83,543

)

At 31 December 2024

402,960

9,451

37,657

450,068

NET BOOK VALUE

At 31 December 2024

153,511

4,548

36,350

194,409

At 31 December 2023

159,646

4,654

19,950

184,250

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

343,098

472,706

Amounts owed by group undertakings

1,064

-

Other debtors

170,203

97,563

VAT

-

55,785

Prepayments and accrued income

22,005

17,687

536,370

643,741

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

405,277

348,609

Tax

72,534

94,489

Social security and other taxes

11,868

8,474

VAT

128,841

-

Other creditors

24,195

9,407

Directors' current accounts

2,302

3,975

Accruals and deferred income

471,128

208,202

1,116,145

673,156