REGISTERED NUMBER: 01472333 (England and Wales)

Financial Statements for the Year Ended 31st March 2025

for

PSV Wipers Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Ms Lindy Jane Allen

Mr Paul Antony Curry

REGISTERED OFFICE:

Unit 18 Kempton Road

Keytec 7 Business Park

Pershore

Worcestershire

WR10 2TA

REGISTERED NUMBER:

01472333 (England and Wales)

AUDITORS:

Richards Sandy Audit Services Limited

(Statutory Auditor)

Thorneloe House

25 Barbourne Road

Worcester

WR1 1RU

FIXED ASSETS

Tangible assets

4

289,958

697,173

CURRENT ASSETS

Stocks

599,248

564,487

Debtors

394,105

314,794

Cash at bank

438,954

306,268

1,432,307

1,185,549

CREDITORS

Amounts falling due within one year

361,561

412,973

NET CURRENT ASSETS

1,070,746

772,576

TOTAL ASSETS LESS CURRENT LIABILITIES

1,360,704

1,469,749

CREDITORS

Amounts falling due after more than one year

5

-

(250,093

)

PROVISIONS FOR LIABILITIES

(24,301

)

(21,581

)

NET ASSETS

1,336,403

1,198,075

CAPITAL AND RESERVES

Called up share capital

701

701

Share premium

849,439

849,439

Retained earnings

486,263

347,935

1,336,403

1,198,075

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31st March 2025 in accordance with Section 444(2A) of the Companies Act 2006.

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 2nd December 2025 and were signed on its behalf by:

Mr Paul Antony Curry - Director

1.	STATUTORY INFORMATION

PSV Wipers 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.

REVENUE

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 discount, rebates, value added tax and other sales taxes.

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

-

the company has transferred the significant risks and rewards of ownership to the buyer;

-

the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

-

the amount of revenue can be reliably measured;

-

it is probable that the company will receive the consideration due under the transaction; and

-

the costs incurred or to be incurred in respect of the transaction can be measured reliably.

TANGIBLE FIXED ASSETS

Tangible assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, or if held under a finance lease, over the term, whichever is shorter.

Depreciation is provided on a straight line basis over the following range of years:

Leasehold land and buildings

- over 6 and 10 years

Plant and machinery

- over 2, 4, 5, 10 and 25 years

Fixtures and fittings

- over 4, 5 and 10 years

Motor vehicles

- over 4 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there ia an indication of a significant change since the last reporting date.

Gains and losses on disposals are determine by comparing the proceeds with the carrying amount and are recognised in profit or loss.

STOCKS

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

FINANCIAL INSTRUMENTS

The company has elected to apply the provisions of Section 11' Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised when the company becomes party to contractual provisions of the instrument.

Financial assets are offset, with the net amounts presented in the accounts where there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic Financial Assets

Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Basic Financial Liabilities

Basic financial liabilities, including trade and other payables, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future receipts, discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of the operations from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction cost.

TAXATION

Taxation for the year 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 year 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.

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.

PENSION COSTS

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2024 - 18 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1st April 2024

1,388,100

Additions

93,002

Disposals

(550,276

)

At 31st March 2025

930,826

DEPRECIATION

At 1st April 2024

690,927

Charge for year

56,278

Eliminated on disposal

(106,337

)

At 31st March 2025

640,868

NET BOOK VALUE

At 31st March 2025

289,958

At 31st March 2024

697,173

5.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

2025

2024

£

£

Repayable by instalments

Bank loans

-

123,481

6.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Within one year

198,600

198,600

Between one and five years

794,400

794,400

In more than five years

810,950

1,009,550

1,803,950

2,002,550

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

The Report of the Auditors was unqualified.

Aimee Stinton FCCA (Senior Statutory Auditor)

for and on behalf of Richards Sandy Audit Services Limited

8.	ULTIMATE CONTROLLING PARTY

The ultimate parent company is PSV Group Limited, whose registered office is Unit 18 Kempton Road, Keytec 7 Business Park, Pershore, Worcestershire, WR10 2TA.