Panel Edge Products Limited - Filleted accounts

Panel Edge Products Limited
Registered number:		02742698
Balance Sheet
as at 31 December 2024


Notes			2024		2023
			£		£
Fixed assets
Tangible assets	3		1,120,806		1,217,043

Current assets
Debtors	4	7,778		44,113
Cash at bank and in hand		1,662		7,020
		9,440		51,133

Creditors: amounts falling due within one year	5	(498,226)		(544,745)

Net current liabilities			(488,786)		(493,612)

Total assets less current liabilities			632,020		723,431

Creditors: amounts falling due after more than one year	6		(157,832)		(268,641)

Provisions for liabilities			(259,725)		(260,969)

Net assets			214,463		193,821

Capital and reserves
Called up share capital			90		90
Capital redemption reserve			10		10
Profit and loss account			214,363		193,721

Shareholders' funds			214,463		193,821

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




V P Ferguson
Director
Approved by the board on 30 September 2025

Panel Edge Products Limited
Notes to the Accounts
for the year ended 31 December 2024


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102 ( as applicable to small entities), The Financial Reporting Standard applicable in the UK and Republic of Ireland.

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover comprises revenue earned from the hire of plant and the sale of goods, this is recognised when the significant risks and rewards of ownership and use of the plant or goods have transferred to the buyer.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Plant and machinery	At 10 % reducing balance basis
	Motor Vehicles	At 25% reducing balance basis
	Fixtures, fittings, tools and equipment	At 10 % reducing balance basis

	Debtors
	Short term debtors are measured at transaction price, less any impairment losses for bad and doubtful debts. Loans and other financial assets are recognised at transaction price including any transaction costs

	Creditors
	Short term creditors are measured at transaction price. Loans and other financial liabilities are recognised at transaction price net of any transaction costs.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference. Current and deferred tax assets and liabilities are not discounted.


2	Employees			2024		2023
Number					Number

	Average number of persons employed by the company			3		3


3	Tangible fixed assets
		Plant and machinery etc		Motor vehicles		Total
£			£		£
	Cost
	At 1 January 2024	2,164,932		63,044		2,227,976
	At 31 December 2024	2,164,932		63,044		2,227,976

	Depreciation
	At 1 January 2024	978,141		32,792		1,010,933
	Charge for the year	88,674		7,563		96,237
	At 31 December 2024	1,066,815		40,355		1,107,170

	Net book value
	At 31 December 2024	1,098,117		22,689		1,120,806
	At 31 December 2023	1,186,791		30,252		1,217,043



4	Debtors			2024		2023
£					£

	Amounts owed by group undertakings			7,778		-
	Prepayments and accrued income			-		44,113
				7,778		44,113


5	Creditors: amounts falling due within one year			2024		2023
£					£

	Bank loan and overdraft			315,000		160,000
	Obligations under finance lease and hire purchase contracts			103,309		87,113
	Trade creditors			11,902		2,783
	Amounts owed to group undertakings			-		248,364
	Other taxes and social security costs			16,390		16,611
	Directors loans			43,639		24,722
	Accruals and deferred income			7,986		5,152
				498,226		544,745


6	Creditors: amounts falling due after one year			2024		2023
£					£

	Bank loan			7,500		15,000
	Obligations under finance lease and hire purchase contracts			150,332		253,641
				157,832		268,641


7	Pension commitments

	The company operates a defined contribution pension scheme, which is available to all employees. The contributions for the year were £4,213 (2023 £5,148) and at the year end the total amounts outstanding, including employees contributions, was £758 (2023 £1,510).


8	Controlling party

	The company is a wholly owned subsidiary of Panel Edge Holdings Limited


9	Other information

	Panel Edge Products Limited is a private company limited by shares and incorporated in England. Its registered office is:
	Seeleys Road
	Tyseley
	Birmingham
	B11 2LQ