Company No: 08154311 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2021		2020
		£		£
Current assets
Debtors	4	1,482,906		174,889
Cash at bank and in hand		289,935		25,808
		1,772,841		200,697
Creditors
Amounts falling due within one year	5	( 1,396,531)		( 183,439)
Net current assets		376,310		17,258
Total assets less current liabilities		376,310		17,258
Net assets		376,310		17,258
Capital and reserves
Called-up share capital	6	100		100
Profit and loss account		376,210		17,158
Total shareholder's funds		376,310		17,258

For the financial year ending 31 December 2021 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Powercomm HV Services Limited (registered number: 08154311) were approved and authorised for issue by the Board of Directors on 24 August 2022. They were signed on its behalf by:

J Cafferty Director

B Cafferty Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Powercomm HV Services Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Ground Floor, 90 Victoria Street, Bristol, BS1 6DP, United Kingdom. The principal place of business is Unit A5, Clane Business Park, College Road, Clane, W91 EF10, Co. Kildare.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

Revenue from services is recognised as they are delivered.

Construction contracts

Turnover and costs from contracts are recognised based on the stage of completion which is measured by estimated time to complete. If it is probable that total contract costs will exceed total contract revenue, the expected loss is recognised as an expense immediately.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company’s accounting policies, the directors are required to make judgements that have a significant impact on the amounts recognised. The following are the critical judgements that the directors have made in the process of applying the Company’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

The key source of estimation uncertainty is recognition the stage of completion of a contract. The principal estimation technique used by the company is forecasts on a contract by contract basis. These focus on income and expense to complete and enable an assessment to be made of the final outcome of each contract. The carrying amount of amounts recoverable on contracts is £nil (2020 - £nil).

3. Employees

	2021		2020
	Number		Number
At the year end the amount of persons employed by the company (excluding Directors) was	0		0

4. Debtors

	2021		2020
	£		£
Trade debtors	856,778		97,404
Amounts owed by Group undertakings	479,728		0
Prepayments	0		77,485
VAT recoverable	1,060		0
Other debtors	145,340		0
	1,482,906		174,889

5. Creditors: amounts falling due within one year

	2021		2020
	£		£
Trade creditors	136,784		149,864
Other creditors	37,225		0
Accruals	1,152,340		29,746
Corporation tax	70,182		0
Other taxation and social security	0		3,829
	1,396,531		183,439

6. Called-up share capital

	2021		2020
	£		£
Allotted, called-up and fully-paid
100 ordinary shares of £ 1.00 each	100		100