Registration number: NI614159

P S Engineering (Co Antrim) Ltd

(Registration number: NI614159)
Balance Sheet as at 31 December 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	5	182,547	193,737
Current assets
Stocks	9	8,210	7,860
Debtors	6	282,532	379,575
Cash at bank and in hand		104,867	24,681
		395,609	412,116
Creditors: Amounts falling due within one year	7	(186,307)	(100,034)
Net current assets		209,302	312,082
Total assets less current liabilities		391,849	505,819
Provisions for liabilities		(21,998)	(23,678)
Net assets		369,851	482,141
Capital and reserves
Called up share capital	8	100	100
Retained earnings		369,751	482,041
Shareholders' funds		369,851	482,141

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

Director's 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 director acknowledges his 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

P S Engineering (Co Antrim) Ltd

(Registration number: NI614159)
Balance Sheet as at 31 December 2025

Approved and authorised by the director on 10 September 2026
 

......................................... Mr Philip Stewart Director

P S Engineering (Co Antrim) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

1	General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is: 120B Ballinlea Road, Armoy, Ballymoney, Co. Antrim, BT53 8TY.

These financial statements were authorised for issue by the director on 10 September 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.

Revenue recognition

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

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.

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.

P S Engineering (Co Antrim) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

Tangible assets

Tangible assets are stated in the statement of financial position 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
Premises	4% straight line basis
Plant and machinery	15% reducing balance basis
Motor vehicles	15% reducing balance basis
Office equipment	15% reducing balance basis

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	33.33% straight line basis

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.

Short-term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in operating expenses.

P S Engineering (Co Antrim) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 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.

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.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2024 - 1).

P S Engineering (Co Antrim) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 January 2025	20,000	20,000
At 31 December 2025	20,000	20,000
Amortisation
At 1 January 2025	20,000	20,000
At 31 December 2025	20,000	20,000
Carrying amount
At 31 December 2025	-	-

5	Tangible assets

	Premises £	Plant and machinery £	Motor vehicles  £	Office Equipment £	Total £
Cost or valuation
At 1 January 2025	134,373	134,295	66,999	9,205	344,872
Additions	-	7,596	-	274	7,870
At 31 December 2025	134,373	141,891	66,999	9,479	352,742
Depreciation
At 1 January 2025	35,346	83,137	27,225	5,427	151,135
Charge for the year	4,474	8,050	5,966	570	19,060
At 31 December 2025	39,820	91,187	33,191	5,997	170,195
Carrying amount
At 31 December 2025	94,553	50,704	33,808	3,482	182,547
At 31 December 2024	99,027	51,158	39,774	3,778	193,737

Included within the net book value of premises above is £94,553 (2024 - £99,027) in respect of freehold land and buildings.
 

P S Engineering (Co Antrim) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

6

Debtors

Current	Note	2025 £	2024 £
Trade debtors		84,343	49,257
Amounts owed by related parties	10	138,969	277,938
Prepayments		6,615	7,077
Other debtors		52,605	45,303
		282,532	379,575

7

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Trade creditors		33,671	31,691
Other creditors		45,799	31,442
		79,470	63,133

8	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary shares of £1 each	100	100	100	100

P S Engineering (Co Antrim) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

9	Stock and work in progress

	2025 £	2024 £
Work in progress	6,560	6,560
Stock	1,650	1,300
	8,210	7,860

10	Related party transactions

Debtors includes an amount of £138,969 (2024: £277,938) owing to the company by PCS Property Ltd, a company controlled by the director and his wife. During the year, £138,969 of the loan was formally released.

Other debtors includes an amount of £39,937 (2024: £39,937) owing to the company by TJS Steel Supplies Ltd, a company controlled by the director. Other debtors also includes an amount of £2,529 (2024: £2,529) owing to the company by R S Constructon (Co. Antrim) Ltd, a company controlled by the director and his wife.