Company Registration No. 05023133 (England and Wales)
ONE WAY PCB LIMITED
Unaudited accounts
for the year ended 31 December 2022
ONE WAY PCB LIMITED
Unaudited accounts
Contents
ONE WAY PCB LIMITED
Company Information
for the year ended 31 December 2022
Directors
RICHARD LYONS
JAKE FIELDER
Company Number
05023133 (England and Wales)
Registered Office
2 HALIFAX COURT
50 HURRICANE WAY
NORWICH
NORFOLK
NR6 6JB
ENGLAND
ONE WAY PCB LIMITED
Statement of financial position
as at 31 December 2022
Intangible assets
31,000
36,000
Tangible assets
333,390
182,719
Cash at bank and in hand
164,363
499,113
Creditors: amounts falling due within one year
(358,861)
(694,434)
Net current assets
294,212
291,620
Total assets less current liabilities
658,602
510,339
Creditors: amounts falling due after more than one year
(171,500)
(220,500)
Provisions for liabilities
Deferred tax
(61,544)
(34,717)
Net assets
425,558
255,122
Called up share capital
99
99
Capital redemption reserve
1
1
Capital contribution reserve
22,400
22,400
Profit and loss account
403,058
232,622
Shareholders' funds
425,558
255,122
For the year ending 31 December 2022 the company was entitled to exemption from audit 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 29 August 2023 and were signed on its behalf by
RICHARD LYONS
Director
Company Registration No. 05023133
ONE WAY PCB LIMITED
Notes to the Accounts
for the year ended 31 December 2022
ONE WAY PCB LIMITED is a private company, limited by shares, registered in England and Wales, registration number 05023133. The registered office is 2 HALIFAX COURT, 50 HURRICANE WAY, NORWICH, NORFOLK, NR6 6JB, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
These financial statements have been prepared in accordance with Financial Reporting
Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of
Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Goodwill, being the amount paid in connection with the acquisition of a business in, is being amortised evenly over its estimated useful life of 10 years.
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant & machinery
25% on reducing balance
Computer equipment
25% on reducing balance
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
ONE WAY PCB LIMITED
Notes to the Accounts
for the year ended 31 December 2022
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.
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
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.
4
Intangible fixed assets
Goodwill
At 31 December 2022
51,000
At 31 December 2022
20,000
At 31 December 2022
31,000
At 31 December 2021
36,000
ONE WAY PCB LIMITED
Notes to the Accounts
for the year ended 31 December 2022
5
Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 January 2022
347,090
8,060
355,150
Additions
218,746
392
219,138
At 31 December 2022
565,836
8,452
574,288
At 1 January 2022
169,110
3,321
172,431
Charge for the year
67,184
1,283
68,467
At 31 December 2022
236,294
4,604
240,898
At 31 December 2022
329,542
3,848
333,390
At 31 December 2021
177,980
4,739
182,719
Amounts falling due within one year
Trade debtors
427,199
432,157
Accrued income and prepayments
761
234
7
Creditors: amounts falling due within one year
2022
2021
Trade creditors
230,673
463,094
Taxes and social security
19,900
24,582
Other creditors
(22,412)
97,787
Loans from directors
102,690
95,277
8
Creditors: amounts falling due after more than one year
2022
2021
Bank loans
171,500
220,500
9
Transactions with related parties
As at the Balance Sheet date the Company owed the Directors £162,609.
10
Average number of employees
During the year the average number of employees was 14 (2021: 14).
