Accounts filed on 31-12-2021

P.E. SYSTEMS LIMITED - Company Information

02117413falsethe design and supply of products to battery related user markets2021-01-012021-12-31http://www.companieshouse.gov.uk/2020-12-31http://www.companieshouse.gov.uk/pt:PlantMachinery2020-12-31http://www.companieshouse.gov.uk/pt:ShareCapital2020-12-31http://www.companieshouse.gov.uk/cd:Director12021-01-012021-12-31http://www.companieshouse.gov.uk/pt:CommercialMotorVehicles2020-12-31http://www.companieshouse.gov.uk/pt:PlantMachinery2021-12-31http://www.companieshouse.gov.uk/pt:ShareCapital2021-12-31http://www.companieshouse.gov.uk/cd:Director22021-01-012021-12-31http://www.companieshouse.gov.uk/pt:FurnitureFittings2020-12-31http://www.companieshouse.gov.uk/pt:CommercialMotorVehicles2021-12-31http://www.companieshouse.gov.uk/cd:Director32021-01-012021-12-31http://www.companieshouse.gov.uk/pt:ToolsEquipment2020-12-31http://www.companieshouse.gov.uk/pt:FurnitureFittings2021-12-31http://www.companieshouse.gov.uk/pt:DevelopmentCostsCapitalisedDevelopmentExpenditure2020-12-31http://www.companieshouse.gov.uk/cd:Director42021-01-012021-12-31http://www.companieshouse.gov.uk/cd:OrdinaryShareClass12021-01-012021-12-31http://www.companieshouse.gov.uk/pt:ToolsEquipment2021-12-31http://www.companieshouse.gov.uk/pt:DevelopmentCostsCapitalisedDevelopmentExpenditure2021-12-31http://www.companieshouse.gov.uk/cd:RegisteredOffice2021-01-012021-12-31http://www.companieshouse.gov.uk/cd:AuditExemptWithAccountantsReport2021-01-012021-12-31http://www.companieshouse.gov.uk/pt:DevelopmentCostsCapitalisedDevelopmentExpenditure2021-01-012021-12-31http://www.companieshouse.gov.uk/pt:CurrentFinancialInstruments2021-12-31http://www.companieshouse.gov.uk/pt:CurrentFinancialInstruments2020-12-31http://www.companieshouse.gov.uk/2021-01-012021-12-31http://www.companieshouse.gov.uk/2020-12-31http://www.companieshouse.gov.uk/cd:FRS1022021-01-012021-12-31http://www.companieshouse.gov.uk/2021-12-31http://www.companieshouse.gov.uk/cd:FullAccounts2021-01-012021-12-31http://www.companieshouse.gov.uk/cd:PrivateLimitedCompanyLtd2021-01-012021-12-31iso4217:GBPxbrli:sharesxbrli:pure


Registered number: 02117413






P.E. Systems Limited


ACCOUNTS

FOR THE YEAR ENDED 31/12/2021


P.E. Systems Limited


ACCOUNTS
FOR THE YEAR ENDED 31/12/2021





DIRECTORS
Nicola Jones
Anouska Gee
Julie Nuttall
Mark Wilson



SECRETARY
Nicola Jones


REGISTERED OFFICE
Unit 2 Hindley Green Business Park
Hindley Green
Wigan
Lancs
WN2 4TN


COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number 02117413


ACCOUNTS
FOR THEYEARENDED31/12/2021



CONTENTS



		Page

Directors' Report		-

Statement Of Comprehensive Income		-

Balance Sheet		3

Notes To The Accounts		5


The following do not form part of the statutory financial statements:

Trading And Profit And Loss Account		-

Profit And Loss Account Summaries		-


BALANCE SHEET AT 31/12/2021

			2021		2020
	Notes		£		£

FIXED ASSETS
Intangible assets	2		292,906		281,031
Tangible assets	3		822,454		688,046
Investment Assets	4		25,000		25,000

			1,140,360		994,077

CURRENT ASSETS
Stock		691,356		644,114
Debtors	6	1,051,497		1,594,693
Cash at bank and in hand		304,091		797,374
		2,046,944		3,036,181
CREDITORS: Amounts falling due within one year	7	1,666,554		2,542,683
NET CURRENT ASSETS			380,390		493,498
TOTAL ASSETS LESS CURRENT LIABILITIES			1,520,750		1,487,575


CREDITORS: Amounts falling due after more than one year	8		20,696		19,354


PROVISIONS FOR LIABILITIES AND CHARGES	10		175,916		162,553

NET ASSETS			1,324,138		1,305,668

CAPITAL AND RESERVES

Called up share capital	11		1,000		1,000
Other reserves	12		370,320		220,320
Profit and loss account			952,818		1,084,348
SHAREHOLDERS' FUNDS			1,324,138		1,305,668


BALANCE SHEET AT 31/12/2021

For the year ending 31/12/2021 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.

Approved by the board on 30/09/2022 and signed on their behalf by



.............................
Nicola Jones
Director


NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31/12/2021

1. ACCOUNTING POLICIES




1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .




1b. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Plant and Machinery		straight line 25%
Commercial Vehicles		straight line 25%
Fixtures and Fittings		straight line 25%
Equipment		straight line 25%




1c. Investment Properties

Investment properties are included in the financial statements at open market value. No depreciation is provided on such property in compliance with the Financial Reporting Standard for Smaller Entities. This departure from Companies Act requirements is necessary to show a true and fair view.




1d. Intangible Assets
Development expenditure is normally written off in the year of expenditure, however expenditure incurred on specific projects is capitalised when recoverability can be foreseen with reasonable certainty and is amortised in relation to sales from such projects.




1e. Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.




1f. Pension Costs
The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year.




1g. Investments
Fixed asset investments are shown at cost less amounts written off.
Provisions are made for permanent fluctuations in value.




2. INTANGIBLE FIXED ASSETS

	Development
	Costs	Total
	£	£
Cost
At 01/01/2021	617,499	617,499
Additions	41,260	41,260
At 31/12/2021	658,759	658,759
Depreciation
At 01/01/2021	336,468	336,468
For the year	29,385	29,385
At 31/12/2021	365,853	365,853
Net Book Amounts
At 31/12/2021	292,906	292,906
At 31/12/2020	281,031	281,031




3. TANGIBLE FIXED ASSETS

	Plant and	Commercial	Fixtures
	Machinery	Vehicles	and Fittings	Equipment	Total
	£	£	£	£	£
Cost
At 01/01/2021	367,904	91,273	258,742	141,928	859,847
Additions	16,404	29,358	-	24,157	69,919
At 31/12/2021	384,308	120,631	258,742	166,085	929,766
Depreciation
At 01/01/2021	282,755	49,001	120,065	119,980	571,801
Disposals	2,283	-	-	-	2,283
For the year	28,453	20,797	26,921	7,057	83,228
At 31/12/2021	313,491	69,798	146,986	127,037	657,312
Net Book Amounts
At 31/12/2021	70,817	50,833	111,756	39,048	272,454
At 31/12/2020	85,149	42,272	138,677	21,948	288,046
Included within the net book value of £272,454 is £47,698 (2020: £38,988) relating to assets under hire purchase agreements. The depreciation charged to the financial statements in the year in respect of such assets amounts to £20,649 (2020: £17,130).




4. FINANCIAL ASSETS

	Shares in group companies
	and participating interests	Total
	£	£
Cost
At 01/01/2021	50,002	50,002
At 31/12/2021	50,002	50,002
Amortisation
At 01/01/2021	25,002	25,002
At 31/12/2021	25,002	25,002
Net Book Amounts
At 31/12/2021	25,000	25,000
At 31/12/2020	25,000	25,000
The amounts written off the above investment relate to impairment losses. The company owns 100% of the issued share capital of Alpha Sheet Metal (North) Limited.
The company's voting rights in respect of the subsidiary are held in the same proportion as the company's share of the ordinary share capital of the subsidiary. The company is registered in England and Wales.
The aggregate capital and reserves of Alpha Sheet Metal (North) Ltd at 31 December 2021 were -£336,456 (2020: -£228,031), the loss for the financial year is £73,841 (2020: £29,551).




5. STOCK	2021	2020
	£	£
Stock comprises:

Stock	590,925	549,881
Work in progress	100,431	94,233
	691,356	644,114




6. DEBTORS	2021	2020
	£	£
Amounts falling due within one year
Trade debtors	670,038	1,232,180
Other debtors	-	22,319
Amounts due from group companies	302,144	253,478
Prepayments	59,225	61,990
Accrued income	20,090	13,583
	1,051,497	1,583,550




7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
	2021	2020
	£	£
UK corporation tax	29,008	70,341
VAT	110,918	346,280
Salaries and wages control	32,483	33,541
Hire purchase	18,232	15,734
Trade creditors	1,365,371	1,877,285
Other creditors	7,115	5,308
Accruals	103,427	194,194
	1,666,554	2,542,683

HP agreements are secured over the assets to which they relate.




8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
	2021	2020
	£	£
Hire purchase >1yr	20,696	19,354
	20,696	19,354

HP agreements are secured over the assets to which they relate.




9. EMPLOYEES

	2021	2020
	No.	No.
Average number of employees	42	45




10. PROVISIONS FOR LIABILITIES	2021	2020
	£	£
Deferred taxation	52,665	33,282
Other provisions	123,251	129,271
	175,916	162,553


Other provisions relate to rebates owed to customers, which is based on the percentage of sales in the financial year.




11. SHARE CAPITAL	2021	2020
	£	£
Allotted, issued and fully paid:
1000 Class A shares of £1 each	1000	1000
	1,000	1,000




12. OTHER RESERVES	2021	2020
	£	£
Non-distributable reserve	370,320	220,320
	370,320	220,320

This reserve is used to record increases in the fair value of investment properties and decreases to the extent that such decreases relates to the same asset.




13. CONTROLLING PARTY
The company was under the control of its directors, who controlled the whole of the company's issued ordinary share capital throughtout the whole of the year and the previous year.

14. RELATED PARTY TRANSACTIONS

The company is related to its parent company, PE Systems Holdings Ltd and its wholly owned subsidiary undertaking, Alpha Sheet Metal (North) Limited.
Included in debtors is £282,891 (2020:£222,238) owed by Alpha Sheet Metal (North) Limited, and £19,253 (2020:£31,240) owed by PE Systems Holdings Ltd.




15. POST BALANCE SHEET EVENTS
The Covid -19 pandemic developed rapidly in 2020 and continued into 2021 and 2022, now with a lessor effect. Measures taken worldwide to contain the virus, affected economic activity. We are still feeling the aftermath of this, with supply chain shortages in certain areas.
At this stage, the impact on our business has not been significant enough to affect the going concern of the company. Although turnover & liquidity have been affected, the group remains profitable.