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Registration number: 03828030

Pembrokeshire Engineering & Camseat Ltd

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Financial Statements	4 to 10

Pembrokeshire Engineering & Camseat Ltd

Company Information

Directors

Mr D Morgan Miss C Tighe Mr A Edmundson

Registered office

Unit 7 London Road Ind. Est. Pembroke Dock Pembrokeshire SA72 4RZ

Pembrokeshire Engineering & Camseat Ltd

(Registration number: 03828030)
Balance Sheet as at 31 August 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	5	86,274	135,574
Tangible assets	6	22,083	29,020
		108,357	164,594
Current assets
Stocks	7	45,459	31,675
Debtors	8	199,053	147,877
Cash at bank and in hand		67	83,949
		244,579	263,501
Creditors: Amounts falling due within one year	9	(137,968)	(112,684)
Net current assets		106,611	150,817
Total assets less current liabilities		214,968	315,411
Creditors: Amounts falling due after more than one year	9	(88,000)	(138,000)
Provisions for liabilities		(5,459)	(7,280)
Net assets		121,509	170,131
Capital and reserves
Called up share capital		1,000	1,000
Share premium reserve		29,520	29,520
Profit and loss account		90,989	139,611
Total equity		121,509	170,131

For the financial year ending 31 August 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 and the option not to file the Profit and Loss Account has been taken.

Pembrokeshire Engineering & Camseat Ltd

(Registration number: 03828030)
Balance Sheet as at 31 August 2025

Approved and authorised by the Board on 29 May 2026 and signed on its behalf by:
 

......................................... Mr D Morgan Director

Pembrokeshire Engineering & Camseat Ltd

Notes to the Financial Statements for the Year Ended 31 August 2025

1	General information

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

The address of its registered office is:
Unit 7
London Road Ind. Est.
Pembroke Dock
Pembrokeshire
SA72 4RZ

These financial statements were authorised for issue by the Board on 29 May 2026.

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 and deferred 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.

Pembrokeshire Engineering & Camseat Ltd

Notes to the Financial Statements for the Year Ended 31 August 2025

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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, Machinery & Equipment	20% Straight Line on Cost
Motor Vehicles	25% Reducing Balance on Net Book Value

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	10% Straight Line on Cost

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.

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.

Pembrokeshire Engineering & Camseat Ltd

Notes to the Financial Statements for the Year Ended 31 August 2025

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.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Pembrokeshire Engineering & Camseat Ltd

Notes to the Financial Statements for the Year Ended 31 August 2025

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 9 (2024 - 8).

4	Profit before tax

Arrived at after charging/(crediting)

	2025 £	2024 £
Depreciation expense	7,354	9,818
Amortisation expense	49,300	49,300

Pembrokeshire Engineering & Camseat Ltd

Notes to the Financial Statements for the Year Ended 31 August 2025

5	Intangible assets

	Goodwill  £	Other intangible assets  £	Total £
Cost or valuation
At 1 September 2024	492,999	24,492	517,491
At 31 August 2025	492,999	24,492	517,491
Amortisation
At 1 September 2024	357,425	24,492	381,917
Amortisation charge	49,300	-	49,300
At 31 August 2025	406,725	24,492	431,217
Carrying amount
At 31 August 2025	86,274	-	86,274
At 31 August 2024	135,574	-	135,574

Revalued assets for the year ended 31 August 2024

6	Tangible assets

	Long leasehold land and buildings £	Plant and machinery £	Motor vehicles  £	Total £
Cost or valuation
At 1 September 2024	1	32,580	70,550	103,131
At 31 August 2025	1	32,580	70,550	103,131
Depreciation
At 1 September 2024	-	31,400	42,295	73,695
Charge for the year	-	290	7,063	7,353
At 31 August 2025	-	31,690	49,358	81,048
Carrying amount
At 31 August 2025	1	890	21,192	22,083
At 31 August 2024	1	764	28,255	29,020

Included within the net book value of land and buildings above is £1 (2024 - £1) in respect of long leasehold land and buildings.
 

Pembrokeshire Engineering & Camseat Ltd

Notes to the Financial Statements for the Year Ended 31 August 2025

7

Stocks

	2025 £	2024 £
Other inventories	45,459	31,675

8

Debtors

	2025 £	2024 £
Trade debtors	191,022	137,112
Provision for impairment of debtors	(2,000)	(2,000)
Prepayments	10,031	12,765
	199,053	147,877

9

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Bank loans and overdrafts	11	28,874	-
Trade creditors		36,626	20,283
Taxation and social security		58,296	84,568
Directors' loan accounts		5,500	-
Other creditors		8,672	7,833
		137,968	112,684