PERCIVAL ENGINEERING LIMITED,Ltd - AccountsLtd - Accounts

PERCIVAL ENGINEERING LIMITED,Ltd - AccountsLtd - Accounts

PERCIVAL ENGINEERING LIMITED - Company Information

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2021-01-01 04324728 2021-12-31 04324728 2021-01-01 2021-12-31 04324728 2020-12-31 04324728 2020-01-01 2020-12-31 04324728 uk-core:WithinOneYear 2020-12-31 04324728 uk-core:WithinOneYear 2021-12-31 04324728 uk-core:AfterOneYear 2020-12-31 04324728 uk-core:AfterOneYear 2021-12-31 04324728 uk-core:ShareCapital 2021-12-31 04324728 uk-core:ShareCapital 2020-12-31 04324728 uk-core:RetainedEarningsAccumulatedLosses 2021-12-31 04324728 uk-core:RetainedEarningsAccumulatedLosses 2020-12-31 04324728 uk-bus:Director1 2021-01-01 2021-12-31 04324728 uk-core:NetGoodwill 2021-01-01 2021-12-31 04324728 uk-core:PlantMachinery 2021-01-01 2021-12-31 04324728 uk-core:Vehicles 2021-01-01 2021-12-31 04324728 uk-core:Goodwill 2020-12-31 04324728 uk-core:Goodwill 2021-12-31 04324728 uk-core:Vehicles 2020-12-31 04324728 uk-core:PlantMachinery 2020-12-31 04324728 uk-core:PlantMachinery 2021-12-31 04324728 uk-core:Vehicles 2021-12-31 04324728 uk-core:WithinOneYear 2021-12-31 04324728 uk-core:WithinOneYear 2020-12-31 iso4217:GBP xbrli:pure 04324728 uk-bus:AuditExempt-NoAccountantsReport 2021-01-01 2021-12-31 04324728 uk-bus:FRS102 2021-01-01 2021-12-31 04324728 uk-bus:FullAccounts 2021-01-01 2021-12-31 04324728 uk-bus:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31
PERCIVAL ENGINEERING LIMITED
Registered Number:04324728
For the year ended 31 December 2021
England and Wales
Unaudited Financial Statements
2
Registered Number :
04324728
As at 31 December 2021
PERCIVAL ENGINEERING LIMITED
Statement of Financial Position
£
£
2020
2021
Notes
Fixed assets
Intangible assets
1,000
1,000
2
Property, plant and equipment
116,134
119,134
3
117,134
120,134
Current assets
Inventories
5,937
6,100
4
Trade and other receivables
10,702
2,515
5
8,615
16,639
Trade and other payables: amounts falling due within one
year
(101,885)
(78,488)
6
(85,246)
(69,873)
Net current liabilities
Total assets less current liabilities
47,261
34,888
Trade and other payables: amounts falling due after more
than one year
(19,572)
(33,349)
7
13,912
Net assets
15,316
Capital and reserves
Called up share capital
1
1
Retained earnings
13,911
15,315
13,912
15,316
Shareholders' funds
For the year ended 31 December 2021 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 of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section
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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
RICHARD J PERCIVAL Director
These financial statements were approved and authorised for issue by the Board on 18 July 2022 and were signed by:
The notes form part of these financial statements
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3
For the year ended 31 December 2021
PERCIVAL ENGINEERING LIMITED
Notes to the Financial Statements
Statutory Information
PERCIVAL ENGINEERING LIMITED is a private limited company, limited by shares, domiciled in England and Wales,
registration number 04324728.
Registered address:
SPRING VALLEY
ARDLEIGH
COLCHESTER
ESSEX
CO7 7SB
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of 20 years.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and machinery
20 Reducing balance
20 Reducing balance
Motor vehicles
Inventories
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Debtors include amounts recoverable on long term contracts which are stated at the net sales value of the work done after provision for contingencies and any anticipated future losses on contracts, less amounts received as progress payments on account. Any excess progress payments are included in creditors as payments on account.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the profit and loss account.
Hire purchase and leasing commitments
The finance element of the rental payment is charged to the profit and loss account on a straight line basis.
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4
For the year ended 31 December 2021
PERCIVAL ENGINEERING LIMITED
Notes to the Financial Statements Continued
2. Intangible fixed assets
Goodwill
Cost or valuation
£
At 01 January 2021
30,000
At 31 December 2021
30,000
Amortisation
At 01 January 2021
29,000
At 31 December 2021
29,000
Net book value
At 31 December 2021
1,000
At 31 December 2020
1,000
3. Property, plant and equipment
Total
Motor vehicles
Plant and
machinery
£
£
£
Cost or
valuation
At 01 January 2021
188,177
35,080
153,097
At 31 December 2021
153,097
35,080
188,177
Provision for depreciation and impairment
At 01 January 2021
69,043
10,000
59,043
Charge for year
3,000
3,000
-
At 31 December 2021
72,043
13,000
59,043
At 31 December 2021
Net book value
94,054
22,080
116,134
At 31 December 2020
94,054
25,080
119,134
4. Inventories
2020
2021
£
£
Stocks
6,100
5,937
5. Trade and other receivables
2020
2021
£
£
Trade debtors
2,515
10,702
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5
For the year ended 31 December 2021
PERCIVAL ENGINEERING LIMITED
Notes to the Financial Statements Continued
6. Trade and other payables: amounts falling due within one year
2020
2021
£
£
Bank loans and overdraft
19,684
21,358
Trade creditors
26,268
25,696
Taxation and social security
22,240
31,660
Other creditors
10,296
23,171
78,488
101,885
7. Trade and other payables: amounts falling due after more than one year
2020
2021
£
£
Other creditors
33,349
19,572
8. Average number of persons employed
During the year the average number of employees was 5 (2020 : 6)
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