Pyrotec Holdings Limited - Filleted accounts

PYROTEC HOLDINGS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 MARCH 2023

Company Registration Number: 06384708

PYROTEC HOLDINGS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
CONTENTS									PAGES
Company information									1
Balance sheet									2 to 3
Notes to the financial statements									4 to 6

PYROTEC HOLDINGS LIMITED
COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023
DIRECTOR
S P Pitts
SECRETARY
The company does not have an appointed secretary
REGISTERED OFFICE
Avalon House
Marcham Road
Abingdon
Oxon
OX14 1TZ
COMPANY REGISTRATION NUMBER
06384708 England and Wales

PYROTEC HOLDINGS LIMITED
BALANCE SHEET
AS AT 31 MARCH 2023
			Notes		2023				2022
					£				£
FIXED ASSETS
Investments			5				4,000,000				4,000,000
CURRENT ASSETS
Debtors			6		570,142				199,765
Cash at bank and in hand					996,641				170,004
					1,566,783				369,769
CREDITORS: Amounts falling due within one year			7		245,237				174,550
NET CURRENT ASSETS							1,321,546				195,219
NET ASSETS							5,321,546				4,195,219
CAPITAL AND RESERVES
Called up share capital							50				50
Share premium account							49,940				49,940
Distributable profit and loss account							2,185,066				1,058,739
Non distributable profit and loss account							3,086,440				3,086,440
Capital redemption reserve							50				50
SHAREHOLDERS' FUNDS							5,321,546				4,195,219

PYROTEC HOLDINGS LIMITED
BALANCE SHEET
AS AT 31 MARCH 2023
These accounts have been prepared and delivered in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A - small entities.
For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
Members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by S444 (5A) of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company’s Profit and Loss Account or Directors Report.
Signed on behalf of the board
S P Pitts
Director
Date approved by the board: 19 September 2023

PYROTEC HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
1	GENERAL INFORMATION
	Pyrotec Holdings Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is:
	Avalon House
	Marcham Road
	Abingdon
	Oxon
	OX14 1TZ
	The financial statements are presented in Sterling, which is the functional currency of the company.
2	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	Basis of preparation of financial statements
	These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 Section 1A smaller entities 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' ('FRS 102') and the Companies Act 2006.
	Investments

	Investments in subsidiaries are shown at fair value and revalued annually with any surplus or deficit dealt with through the profit and loss account.

	Financial Instruments
	The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
	Financial assets are measured at cost and are assessed at the end of each reporting period for objective evidence of impairment. Where objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account.

The impairment loss for financial assets measured at cost is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

	Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amount and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

PYROTEC HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
2	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
	Debtors

	Short term debtors are measured at transaction price, less any impairment.

	Creditors
	Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and subsequently at amortised cost.
	Taxation
	Taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period.
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods based on current tax rates and laws. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.

	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 taxable profits.
	Deferred tax is measured using 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.

	Current and deferred tax assets and liabilities are not discounted.
	Consolidation
	The company is a parent company subject to the small companies regime. The company and its subsidiary comprise a small group. The company has therefore taken advantage of the option provided by section 399 of the Companies Act 2006 not to prepare group accounts.
3	CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS

	No significant accounting estimates and judgements have had to be made by the director in preparing these financial statements.

4	EMPLOYEES
	The average number of persons employed by the company (including the director) during the year was:
									2023		2022
	Average number of employees								1		1

PYROTEC HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
5	FIXED ASSET INVESTMENTS
											Investment in subsidiary
											£
	Cost
	At 1 April 2022										4,000,000
	At 31 March 2023										4,000,000
	Net book value
	At 1 April 2022										4,000,000
	At 31 March 2023										4,000,000
6	DEBTORS
									2023		2022
									£		£
	Other debtors								570,142		199,765
7	CREDITORS: Amounts falling due within one year
									2023		2022
									£		£
	Accruals and deferred income								2,500		2,501
	Other creditors								242,737		172,049
									245,237		174,550
8	RELATED PARTY TRANSACTIONS
	The company has claimed exemptions from reporting disclosure of related party transactions with the following wholly owned group members:
	Pyrotec Services Limited		Subsidiary undertaking
	During the year, the following transactions with related parties took place:
	S P Pitts
	Director and shareholder								2023		2022
									£		£
	Advances to company		The director / shareholder has made advances to the company which are repayable on demand. No interest has been charged on these advances. At the year end, the company owed the director / shareholder the following amount:						242,737		172,049