P & C (Electrical) Contractors Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04528812

Financial Statements for the Year Ended 31 August 2020

for

P & C (Electrical) Contractors Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P Whiffen

Mrs C L Whiffen

REGISTERED OFFICE:

1 Beauchamp Court

10 Victors Way

Barnet

Hertfordshire

EN5 5TZ

REGISTERED NUMBER:

04528812

ACCOUNTANTS:

BBK Partnership

Chartered Accountants

1 Beauchamp Court

10 Victors Way

Barnet

Hertfordshire

EN5 5TZ

FIXED ASSETS

Tangible assets

4

475

633

CURRENT ASSETS

Debtors

5

10,850

31,635

Cash at bank

50,584

2,619

61,434

34,254

CREDITORS

Amounts falling due within one year

6

41,348

11,232

NET CURRENT ASSETS

20,086

23,022

TOTAL ASSETS LESS CURRENT LIABILITIES

20,561

23,655

PROVISIONS FOR LIABILITIES

92

-

NET ASSETS

20,469

23,655

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

20,467

23,653

SHAREHOLDERS' FUNDS

20,469

23,655

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 April 2021 and were signed on its behalf by:

P Whiffen - Director

1.	STATUTORY INFORMATION

P & C (Electrical) Contractors Limited is a private company, limited by shares , registered in Not specified/Other. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Taxation

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

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2019 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 September 2019

and 31 August 2020

8,360

1,425

8,256

1,637

19,678

DEPRECIATION

At 1 September 2019

7,967

1,365

8,109

1,604

19,045

Charge for year

98

15

37

8

158

At 31 August 2020

8,065

1,380

8,146

1,612

19,203

NET BOOK VALUE

At 31 August 2020

295

45

110

25

475

At 31 August 2019

393

60

147

33

633

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.20

31.8.19

£

£

Trade debtors

8,039

28,963

Directors' current accounts

2,811

2,073

Deferred tax asset

-

599

10,850

31,635

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.20

31.8.19

£

£

Bank loans and overdrafts

30,000

3,198

Trade creditors

-

(1

)

Taxation and social security

11,348

8,035

41,348

11,232