| REGISTERED NUMBER: |
| P & R ENGINEERING (MIDLANDS) LIMITED |
| Unaudited Financial Statements for the Year Ended 31 August 2025 |
| REGISTERED NUMBER: |
| P & R ENGINEERING (MIDLANDS) LIMITED |
| Unaudited Financial Statements for the Year Ended 31 August 2025 |
| P & R ENGINEERING (MIDLANDS) LIMITED (REGISTERED NUMBER: 02508088) |
| Contents of the Financial Statements |
| for the Year Ended 31 August 2025 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Chartered Accountants' Report | 9 |
| P & R ENGINEERING (MIDLANDS) LIMITED |
| Company Information |
| for the Year Ended 31 August 2025 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Granville House |
| 2 Tettenhall Road |
| Wolverhampton |
| West Midlands |
| WV1 4SB |
| P & R ENGINEERING (MIDLANDS) LIMITED (REGISTERED NUMBER: 02508088) |
| Balance Sheet |
| 31 August 2025 |
| 31.8.25 | 31.8.24 |
| as restated |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks | 5 |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | 1,240,289 |
| 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. |
| P & R ENGINEERING (MIDLANDS) LIMITED (REGISTERED NUMBER: 02508088) |
| Balance Sheet - continued |
| 31 August 2025 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| P & R ENGINEERING (MIDLANDS) LIMITED (REGISTERED NUMBER: 02508088) |
| Notes to the Financial Statements |
| for the Year Ended 31 August 2025 |
| 1. | STATUTORY INFORMATION |
| P & R Engineering (Midlands) Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents net invoiced sales of goods, excluding value added tax. Turnover is recognised upon the delivery of each job to the customer, with supply contracts ongoing over the year end treated in accordance with the accounting policy set out below under the heading "stock and work in progress". |
| Tangible fixed assets |
| Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases: |
| Improvements to property 10% on cost |
| Plant & Machinery 5% and 10% reducing balance |
| Motor Vehicles 25% on cost |
| Fixtures & Fittings 25% on cost |
| Computer Equipment 25% on cost |
| Stocks |
| Stocks and work in progress are valued at the lower of cost and net realisable value. |
| Cost is calculated using the first-in, first-out method and includes all purchase, transport and handling costs incurred in bringing stocks to their present location and condition. |
| Stocks, which comprise raw materials are valued at cost. Manufacturing work in progress is valued at the inclusive cost of materials, direct labour and attributable production overheads. |
| Profit on supply work-in-progress contracts is recognised when the outcome of the contract can be assessed with reasonable certainty and the amount can be estimated reliably so as to reflect fairly the profit arising up to the year end. Profit recognised on supply work-in-progress contracts is reflected in the profit and loss account as the difference between reported turnover and the related costs. |
| 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. |
| P & R ENGINEERING (MIDLANDS) LIMITED (REGISTERED NUMBER: 02508088) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| 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 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Improvements |
| Freehold | to | Plant and |
| property | property | machinery |
| £ | £ | £ |
| COST |
| At 1 September 2024 |
| Additions |
| At 31 August 2025 |
| DEPRECIATION |
| At 1 September 2024 |
| Charge for year |
| At 31 August 2025 |
| NET BOOK VALUE |
| At 31 August 2025 |
| At 31 August 2024 |
| P & R ENGINEERING (MIDLANDS) LIMITED (REGISTERED NUMBER: 02508088) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2025 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| Fixtures |
| and | Motor | Computer |
| fittings | vehicles | equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 September 2024 |
| Additions |
| At 31 August 2025 |
| DEPRECIATION |
| At 1 September 2024 |
| Charge for year |
| At 31 August 2025 |
| NET BOOK VALUE |
| At 31 August 2025 |
| At 31 August 2024 |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Plant and |
| machinery |
| £ |
| COST |
| At 1 September 2024 |
| and 31 August 2025 |
| DEPRECIATION |
| At 1 September 2024 |
| Charge for year |
| At 31 August 2025 |
| NET BOOK VALUE |
| At 31 August 2025 |
| At 31 August 2024 |
| 5. | STOCKS |
| 31.8.25 | 31.8.24 |
| as restated |
| £ | £ |
| Stocks |
| Work-in-progress |
| P & R ENGINEERING (MIDLANDS) LIMITED (REGISTERED NUMBER: 02508088) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2025 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.8.25 | 31.8.24 |
| as restated |
| £ | £ |
| Trade debtors |
| Related parties | - | 490,731 |
| Prepayments |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.8.25 | 31.8.24 |
| as restated |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts |
| Trade creditors |
| Social security and other taxes |
| Other creditors |
| Related parties | 16,141 | - |
| Invoice Finance | 506,785 | 406,112 |
| Directors' current accounts | 892 | 26,092 |
| Accrued expenses |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.8.25 | 31.8.24 |
| as restated |
| £ | £ |
| Bank loans - 2-5 years |
| Hire purchase contracts |
| P & R ENGINEERING (MIDLANDS) LIMITED (REGISTERED NUMBER: 02508088) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2025 |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 31.8.25 | 31.8.24 |
| as restated |
| £ | £ |
| Bank loans |
| Hire purchase contracts | 869,899 | 1,302,689 |
| RBS Invoice Finance Limited | 506,785 | 406,112 |
| The bank loans and overdraft are secured in favour of National Westminster Bank PLC by way of a mortgage debenture creating fixed and floating charges over the whole undertaking and assets of the company, and by legal charges over the freehold properties at Unit 52, Wolverhampton Central Trading Estate and Units 48 and 49, Cable Street, Wolverhampton. All facilities are secured on an all-monies basis. |
| The invoice financing facility is secured in favour of RBS Invoice Finance Limited by way of fixed and floating charges over all assets of the company. |
| The finance lease obligations are secured in favour of Deutsche Leasing (UK) Limited by way of fixed charges over the specific assets to which each lease relates. |
| Chartered Accountants' Report to the Board of Directors |
| on the Unaudited Financial Statements of |
| P & R Engineering (Midlands) Limited |
| The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of P & R Engineering (Midlands) Limited for the year ended 31 August 2025 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us. |
| As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
| This report is made solely to the Board of Directors of P & R Engineering (Midlands) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of P & R Engineering (Midlands) Limited and state those matters that we have agreed to state to the Board of Directors of P & R Engineering (Midlands) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than P & R Engineering (Midlands) Limited and its Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that P & R Engineering (Midlands) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of P & R Engineering (Midlands) Limited. You consider that P & R Engineering (Midlands) Limited is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the financial statements of P & R Engineering (Midlands) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
| Granville House |
| 2 Tettenhall Road |
| Wolverhampton |
| West Midlands |
| WV1 4SB |