REGISTERED NUMBER: 01380566 (England and Wales)

Unaudited Financial Statements

for the Period 1 August 2024 to 31 May 2025

for

P & I Design Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

G Lloyd-Jones

REGISTERED OFFICE:

2 Reed Street

Gladstone Industrial Estate

THORNABY

Cleveland

TS17 7AF

REGISTERED NUMBER:

01380566 (England and Wales)

ACCOUNTANTS:

King Hope

34 Romanby Road

NORTHALLERTON

North Yorkshire

DL7 8NF

FIXED ASSETS

Tangible assets

4

78,540

101,224

Investments

5

356

226

78,896

101,450

CURRENT ASSETS

Stocks

73,337

38,801

Debtors

6

929,058

369,093

Cash at bank and in hand

516,338

1,182,742

1,518,733

1,590,636

CREDITORS

Amounts falling due within one year

7

(673,638

)

(943,696

)

NET CURRENT ASSETS

845,095

646,940

TOTAL ASSETS LESS CURRENT LIABILITIES

923,991

748,390

PROVISIONS FOR LIABILITIES

(7,204

)

(12,076

)

NET ASSETS

916,787

736,314

CAPITAL AND RESERVES

Called up share capital

600

600

Share premium

6,910

6,910

Non distributable retained

earnings

7,550

7,855

Capital redemption reserve

11,200

11,200

Retained earnings

890,527

709,749

SHAREHOLDERS' FUNDS

916,787

736,314

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 May 2025.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 May 2025 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 3 October 2025 and were signed by:

G Lloyd-Jones - Director

1.	STATUTORY INFORMATION

P & I Design 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

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 as modified by the revaluation of certain assets.

Preparation of consolidated financial statements

The financial statements contain information about P & I Design Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover comprises revenue recognised by the Company in respect of goods and services supplied during the year, exclusive of Value added Tax.

Tangible fixed assets

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

Land and buildings

-

2% to 10% on cost

Plant and machinery etc

-

50% on cost, 20% on cost and 10% to 15% on cost

Stocks

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

Long-term contracts

Profit on long-term contracts is taken as the work is carried out if the final outcome can be assessed with reasonable certainty. The profit included is calculated on a prudent basis to reflect the proportion of the work carried out at the year end, by recording turnover and related costs as contract activity progresses.

Turnover is calculated as that proportion of total contract value which costs incurred to date bear to total expected costs for that contract.

Full provision is made for losses on all contracts in the period in which they are first foreseen.

Investments

Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

Listed investments are included at fair value.

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.

Going concern

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

The current economic conditions present increased risks for all businesses. In response to such conditions, the Director has carefully considered these risks, including an assessment of expectations and intentions for a period of at least 12 months from the date of signing the financial statements, and the extent to which they might affect the preparation of the financial statements on a going concern basis.

Based on this assessment, the Director considers that the company maintains an appropriate level of liquidity, sufficient to meet the demands of the business. In addition, the company assets are assessed for recoverability on a regular basis, and the Director considers that the company is not exposed to losses on these assets which would affect their decision to adopt the going concern basis.

The Director is therefore of the opinion that the company has adequate resources to continue in operational existence for the foreseeable future and that there are no material uncertainties that lead to significant doubt upon the company's ability to continue as a going concern; and on this basis the Director has continued to adopt the going concern basis of accounting in preparing these financial statements.

Change in accounting period

The company changed its financial year-end from 31 July to 31 May for operational convenience.

These financial statements cover the ten-month period from 1 August 2024 to 31 May 2025. The prior year covered the twelve-month period ended 31 July 2024.

Comparatives for the prior period are not directly comparable due to the shortened reporting period.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 14 (2024 - 14 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 August 2024

125,920

129,847

255,767

Additions

-

2,112

2,112

Disposals

-

(1,936

)

(1,936

)

Reclassification/transfer

11,577

(11,577

)

-

At 31 May 2025

137,497

118,446

255,943

DEPRECIATION

At 1 August 2024

73,758

80,785

154,543

Charge for period

4,043

20,195

24,238

Eliminated on disposal

-

(1,378

)

(1,378

)

Reclassification/transfer

6,944

(6,944

)

-

At 31 May 2025

84,745

92,658

177,403

NET BOOK VALUE

At 31 May 2025

52,752

25,788

78,540

At 31 July 2024

52,162

49,062

101,224

5.	FIXED ASSET INVESTMENTS

Shares in

group

Listed

undertakings

investments

Totals

£

£

£

COST OR VALUATION

At 1 August 2024

1,000

226

1,226

Additions

-

130

130

At 31 May 2025

1,000

356

1,356

PROVISIONS

At 1 August 2024

and 31 May 2025

1,000

-

1,000

NET BOOK VALUE

At 31 May 2025

-

356

356

At 31 July 2024

-

226

226

Cost or valuation at 31 May 2025 is represented by:

Shares in

group

Listed

undertakings

investments

Totals

£

£

£

Valuation in 2021

-

(232

)

(232

)

Valuation in 2022

-

(246

)

(246

)

Valuation in 2023

-

(18

)

(18

)

Valuation in 2024

-

(237

)

(237

)

Valuation in 2025

-

130

130

Cost

1,000

959

1,959

1,000

356

1,356

Listed investments are revalued each year to fair value as determined by the quoted market price

The company's investments at the Balance Sheet date in the share capital of companies include the following:

P & I Software Limited

Registered office: 2 Reed Street, Gladstone Industrial Estate, Thornaby, TS17 7AF

Nature of business: Dormant

%

Class of shares:

holding

Ordinary

100.00

2025

2024

£

£

Aggregate capital and reserves

(2,024

)

(2,024

)

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

338,105

313,966

Other debtors

590,953

55,127

929,058

369,093

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

158,465

129,715

Taxation and social security

221,242

185,453

Other creditors

293,931

628,528

673,638

943,696

8.	PENSION COMMITMENTS

The Company operates defined contribution pension schemes. The assets of the schemes are held separately from those of the Company in independently administered funds. The pension cost charge represents contributions payable by the Company to the funds and amounted to £215,331 (2024 - £198,916). Outstanding contributions due to the funds at the year end were £4922 (2024 - £73).

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the period ended 31 May 2025 and the year ended 31 July 2024:

2025

2024

£

£

M Morgan and Mrs F Morgan

Balance outstanding at start of period

(182,513

)

(281,513

)

Amounts advanced

774,597

99,000

Amounts repaid

(72,000

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of period

520,084

(182,513

)

The loan is subject to an annual interest charge at a rate of 2.5% from 01/08/24 to 05/04/25 and 3.75% from 06/04/25 to 31/05/2025 with total interest in the year charged of £6270 (2024 - £Nil). The loan has been repaid in full on 10/06/2025.

10.	POST BALANCE SHEET EVENTS

On 10 June 2025 P&I Design Limited was sold in its entirety to Limestone Holdings Limited.

This is a non-adjusting event under FRS 102.32 and is disclosed due to its significance.