Registration number: 05317659

Power Engineering Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 7

Power Engineering Limited

Company Information

Director

Mr Colin John Gill

Company secretary

Mrs Deborah Ann Gill

Registered office

The Old Dairy 9a The Green Glinton Peterborough Cambridgeshire PE6 7JN

Power Engineering Limited

(Registration number: 05317659)
Balance Sheet as at 31 December 2024

	Note	2024		2023
		£	£	£	£
Fixed Assets
Tangible Assets	4		3,718,907		3,773,058
Current assets
Stocks	5	110,000		300,000
Debtors	6	383,548		297,603
Cash at bank and in hand		9,509,532		7,566,920
		10,003,080		8,164,523
Creditors: Amounts falling due within one year	7	(425,544)		(528,026)
Net current assets			9,577,536		7,636,497
Net assets			13,296,443		11,409,555
Capital and Reserves
Called up share capital	8	1,000		1,000
Retained Earnings		13,295,443		11,408,555
Shareholders' funds			13,296,443		11,409,555

For the financial 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.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 22 September 2025
 

......................................... Mr Colin John Gill Director

Power Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
The Old Dairy 9a The Green
Glinton
Peterborough
Cambridgeshire
PE6 7JN

These financial statements were authorised for issue by the director on 22 September 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Power Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Tangible Assets

Tangible Assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	25% reducing balance
Motor vehicles	20% reducing balance
Fixtures and fittings	20% reducing balance
Freehold property	2% straight line

Amortisation

Asset class	Amortisation method and rate
Goodwill	10% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade Debtors

Trade Debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade Debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

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.

Power Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Trade Creditors

Trade Creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade Creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 11 (2023 - 11).

Power Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4	Tangible Assets

	Land and buildings £	Fixtures and fittings £	Plant and machinery £	Motor vehicles  £
Cost or valuation
At 1 January 2024	3,737,661	81,690	53,661	89,200
Additions	-	-	1,456	47,430
At 31 December 2024	3,737,661	81,690	55,117	136,630
Depreciation
At 1 January 2024	74,753	51,995	39,349	23,057
Charge for the year	74,753	5,162	3,053	20,069
At 31 December 2024	149,506	57,157	42,402	43,126
Carrying amount
At 31 December 2024	3,588,155	24,533	12,715	93,504
At 31 December 2023	3,662,908	29,695	14,312	66,143

	Total £
Cost or valuation
At 1 January 2024	3,962,212
Additions	48,886
At 31 December 2024	4,011,098
Depreciation
At 1 January 2024	189,154
Charge for the year	103,037
At 31 December 2024	292,191
Carrying amount
At 31 December 2024	3,718,907
At 31 December 2023	3,773,058

Included within the net book value of land and buildings above is £3,588,155 (2023 - £3,662,908) in respect of freehold land and buildings.
 

5

Stocks

	2024 £	2023 £
Other inventories	110,000	300,000

Power Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

6

Debtors

Current	2024 £	2023 £
Trade Debtors	383,548	297,053
Other debtors	-	550
	383,548	297,603

7

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Loans and borrowings	9	1,852	-
Trade Creditors		65,543	8,863
Taxation and social security		356,893	506,731
Other creditors		1,256	12,432
		425,544	528,026

8	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary of £1 each	1,000	1,000	1,000	1,000

9	Loans and borrowings

Current loans and borrowings

	2024 £	2023 £
Bank overdrafts	1,852	-