REGISTERED NUMBER: 05421743 (England and Wales)

P.P.I. Engineering Ltd

Unaudited Financial Statements

For The Period

1st October 2023 to 31st December 2024

Page

Balance Sheet

1

to

2

Notes to the Financial Statements

3

to

7

FIXED ASSETS

Intangible assets

4

86,185

190,642

Tangible assets

5

116,439

46,043

202,624

236,685

CURRENT ASSETS

Stocks

40,000

15,000

Debtors

6

731,330

764,984

Cash at bank

2,388,131

444,487

3,159,461

1,224,471

CREDITORS

Amounts falling due within one year

7

2,523,471

647,125

NET CURRENT ASSETS

635,990

577,346

TOTAL ASSETS LESS CURRENT LIABILITIES

838,614

814,031

PROVISIONS FOR LIABILITIES

35,926

36,887

NET ASSETS

802,688

777,144

CAPITAL AND RESERVES

Called up share capital

80,000

80,000

Retained earnings

722,688

697,144

SHAREHOLDERS' FUNDS

802,688

777,144

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

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

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

Dr M J Robinson - Director

1.	STATUTORY INFORMATION

P.P.I. Engineering Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

05421743

Registered office:

44 Rose Lane

Norwich

Norfolk

NR1 1PN

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.

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over the estimated useful life of each product once the product starts to generate income.

Tangible fixed assets

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

Fixtures and fittings

-

10% on cost

Office equipment

-

33% on cost

Stocks

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

Taxation

Taxation for the period 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 period 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.

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.

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.

Warranties

The provision for warranty costs is based on the directors assessment of the full costs of rectifying any future deficiencies that may develop, within the warranty period, in respect of products sold before the balance sheet date.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 33 (2023 - 33 ) .

4.	INTANGIBLE FIXED ASSETS

Development

costs

£

COST

At 1st October 2023

and 31st December 2024

336,852

AMORTISATION

At 1st October 2023

146,210

Amortisation for period

104,457

At 31st December 2024

250,667

NET BOOK VALUE

At 31st December 2024

86,185

At 30th September 2023

190,642

Capitalised development costs relate to a product in the final stages of certification at the year end. Development costs have been capitalised as the project is commercially viable and is expected to generate future income. The costs are to be amortized over the useful life of each product once the product starts to generate revenue.

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Office

fittings

equipment

Totals

£

£

£

COST

At 1st October 2023

575

289,564

290,139

Additions

-

131,538

131,538

At 31st December 2024

575

421,102

421,677

DEPRECIATION

At 1st October 2023

348

243,748

244,096

Charge for period

58

61,084

61,142

At 31st December 2024

406

304,832

305,238

NET BOOK VALUE

At 31st December 2024

169

116,270

116,439

At 30th September 2023

227

45,816

46,043

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

540,878

676,657

Other debtors

4,076

(43,810

)

Prepayments and accrued income

186,376

132,137

731,330

764,984

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Intercompany loan

256,502

190,082

Trade creditors

467,234

388,460

Corporation tax

(49,314

)

(96,736

)

Social security and other taxes

20,460

26,219

VAT

319,187

75,287

Other creditors

9,083

6,898

Directors' current accounts

16,153

16,153

Accruals and deferred income

1,484,166

40,762

2,523,471

647,125

8.	RELATED PARTY DISCLOSURES

API Holdings Ltd

A company in which Dr M J Robinson is also a director.

During the period the company made purchases of £126,222 (year to 2023: £nil). The balance included in trade creditors at the period end was £nil (2023: £nil).

During the year the company had loan transactions. At the period end the company owed £97,348 (2023 : £nil)

API Engineering Ltd

A company in which Dr M J Robinson is also a director.

During the period the company made sales of £20,120 (year to 2023: £6,714). The balance included in trade debtors at the year end was £nil (2023: £nil).

During the period the company made purchases of £144,607 (year to 2023: £643). The balance included in trade creditors at the period end was £nil (2023: £nil).

During the year the company had loan transactions. At the period end the company owed £160,500 (2023 : £123,247).

API Capacitors Ltd

A company in which Dr M J Robinson is also a director.

During the period the company made sales of £33,211 (year to 2023: £6,530). The balance included in trade debtors at the period end was £nil (2023: £nil).

During the period the company made purchases of £104,445 (year to 2023: £41). The balance included in trade creditors at the period end was £nil (2023: £nil).

During the period the company had loan transactions. At the year end the company owed £4,037 (2023: £11,260).

API Engineering (Shijiazhuang) Ltd

A company in which Dr M J Robinson is also a director.

During the period the company made purchases of £231,168 (year to 2023: £88,575). The balance included in trade creditors at the period end was £111,033 (2023: £nil).

CNE International Ltd

A company in which Dr M J Robinson, A J Rollo and J B Stephens are also a directors.

During the period the company had loan transactions. At the period end the company owed £nil (2023: £60,000).

MY Sofa Covers Ltd

A company in which Dr M J Robinson is also a director.

During the period the company made sales of £8,825 (year to 2023: £nil). The balance included in trade debtors at the period end was £nil (2023: £nil).

During the period the company made purchases of £9,400 (year to 2023: £nil). The balance included in trade creditors at the period end was £nil (2023: £nil).

During the period the company had loan transactions. At the year end the company was owed £5,385 (2023: £4,425).