REGISTERED NUMBER: 04077804 (England and Wales)

PM Rees & Sons 2000 Limited

Financial Statements for the Year Ended 31st December 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J Wilson

A J Leighton

REGISTERED OFFICE:

Limerick Road

Dormanstown

Redcar

TS10 5JU

REGISTERED NUMBER:

04077804 (England and Wales)

AUDITORS:

Smailes Goldie

Chartered Accountants

Statutory Auditor

Regent's Court

Princess Street

Hull

East Yorkshire

HU2 8BA

FIXED ASSETS

Tangible assets

4

431,158

1,153,303

CURRENT ASSETS

Stocks

39,729

27,464

Debtors

5

1,962,789

1,751,500

Cash at bank

367,910

339,710

2,370,428

2,118,674

CREDITORS

Amounts falling due within one year

6

257,049

334,666

NET CURRENT ASSETS

2,113,379

1,784,008

TOTAL ASSETS LESS CURRENT LIABILITIES

2,544,537

2,937,311

PROVISIONS FOR LIABILITIES

84,442

261,786

NET ASSETS

2,460,095

2,675,525

CAPITAL AND RESERVES

Called up share capital

8

944,400

944,400

Retained earnings

1,515,695

1,731,125

SHAREHOLDERS' FUNDS

2,460,095

2,675,525

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 Board of Directors and authorised for issue on 30th September 2025 and were signed on its behalf by:

A J Leighton - Director

1.	STATUTORY INFORMATION

PM Rees & Sons 2000 Limited is a private company, limited by shares , registered in England and Wales. 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

The financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard Applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention modified to include certain items at fair value.

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

Going Concern

The directors, having considered the current year performance and the forecasts for the period to December 2025, have a reasonable expectation that the company has adequate resources to continue in operational existence for a period of 12 months from the date of approval of these financial statements and therefore have prepared the financial statements on a going concern basis.

Turnover

Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Turnover from the provision of transport services is recognised as the service is provided.

Tangible fixed assets

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Plant and machinery etc 3 - 5 years and 10 years

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Current tax represents the amount payable or receivable in respect of the taxable profit or loss for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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 balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Retirement benefits

When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.

Debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 42 (2023 - 45 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st January 2024

4,830,448

Additions

56,835

Disposals

(14,607

)

At 31st December 2024

4,872,676

DEPRECIATION

At 1st January 2024

3,677,145

Charge for year

778,511

Eliminated on disposal

(14,138

)

At 31st December 2024

4,441,518

NET BOOK VALUE

At 31st December 2024

431,158

At 31st December 2023

1,153,303

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

1,304,670

828,894

Amounts owed by group undertakings

413,733

741,819

Other debtors

244,386

180,787

1,962,789

1,751,500

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

1

-

Trade creditors

(203,277

)

171,966

Amounts owed to group undertakings

30,688

28,983

Taxation and social security

45,891

46,942

Other creditors

383,746

86,775

257,049

334,666

7.	SECURED DEBTS

Hire purchase contracts are secured over the assets to which they relate.

National Westminster Bank plc hold a charge created on 20th October 2000. The charge consists of a fixed and floating charge over all asset, covering all the property or undertaking of the the company.

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

944,400

Ordinary

£1

944,400

944,400

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Michael Stocks FCA (Senior Statutory Auditor)

for and on behalf of Smailes Goldie

10.	PENSION COMMITMENTS

The company contributes, to a defined contribution pension scheme. The charge in the profit and loss account was £27,396 (2023 £29,417). The balance due to the pension scheme at 31st December 2024 was £4,810 (2023 £1,163).

11.	OTHER FINANCIAL COMMITMENTS

At 31st December 2024 the total amounts due under non-cancellable operating leases are £8,820 (2023 £23,940).

There is a group VAT registration with the parent company and fellow subsidiaries. The maximum potential liability at the year end was £114,801 (2023 £nil).

12.	RELATED PARTY DISCLOSURES

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.

13.	ULTIMATE CONTROLLING PARTY

The company is not controlled by any one party.