PAT Test Plus Limited - Accounts to registrar (filleted) - small 18.2
PAT Test Plus Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| PAT Test Plus Limited |
| Unaudited Financial Statements |
| for the Year Ended 31 August 2021 |
| PAT Test Plus Limited (Registered number: 07723627) |
| Contents of the Financial Statements |
| for the Year Ended 31 August 2021 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| PAT Test Plus Limited |
| Company Information |
| for the Year Ended 31 August 2021 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Lakeside Offices |
| The Old Cattle Market |
| Coronation Park |
| Helston |
| Cornwall |
| TR13 0SR |
| PAT Test Plus Limited (Registered number: 07723627) |
| Balance Sheet |
| 31 August 2021 |
| 2021 | 2020 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 7 | ( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| PAT Test Plus Limited (Registered number: 07723627) |
| Balance Sheet - continued |
| 31 August 2021 |
| In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| PAT Test Plus Limited (Registered number: 07723627) |
| Notes to the Financial Statements |
| for the Year Ended 31 August 2021 |
| 1. | STATUTORY INFORMATION |
| PAT Test Plus Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Turnover consists of services in relation to the repair of household appliances, PAT testing, sales of new appliances and refurbishment. It is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Turnover from the sale of goods is recognised at the point of delivery to the customer. |
| Turnover in respect of services is recognised as the services are performed. |
| Tangible fixed assets |
| Tangible fixed assets are stated at cost, less any subsequent accumulated depreciation and accumulated impairment losses. |
| Depreciation is provided at the following annual rates to write off each asset over its estimated useful life. |
| Motor vehicles | - 25% on reducing balance |
| Computer equipment | - 25% on cost |
| Improvements to property | - 25% on reducing balance |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| Financial instruments |
| The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| Assets acquired under finance leases or hire purchase agreements are capitalised and depreciated in the same manner as owned assets. The lease obligation is recognised as a creditor, with lease payments apportioned between interest charged to the profit and loss over the term of the lease using the effective interest method, and the capital element reducing the amount payable to the lessor. |
| 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. |
| PAT Test Plus Limited (Registered number: 07723627) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2021 |
| 2. | ACCOUNTING POLICIES - continued |
| Going concern |
| During the year, the UK has been significantly impacted by the Covid-19 pandemic. The impact on many businesses and sectors across the UK, Europe and the globe have been unprecedented, and at the date of these financial statements, the outcome of the outbreak still remains uncertain. |
| The significant cash reserves within the company, as well as the strong balance sheet position, has resulted in the directors' conclusion that the long-term impact on the company should be minimal. Therefore, the directors anticipate that the company will continue to operate within its available resources, and be able to tolerate a reasonable level of unforeseen circumstance for a period of at least 12 months from the date of these financial statements. The financial statements have therefore been prepared on a going concern basis. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Improvements | Motor | Computer |
| to property | vehicles | equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 September 2020 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 August 2021 |
| DEPRECIATION |
| At 1 September 2020 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 August 2021 |
| NET BOOK VALUE |
| At 31 August 2021 |
| At 31 August 2020 |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Motor |
| vehicles |
| £ |
| COST |
| At 1 September 2020 |
| Additions |
| Disposals | ( |
) |
| At 31 August 2021 |
| DEPRECIATION |
| At 1 September 2020 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31 August 2021 |
| NET BOOK VALUE |
| At 31 August 2021 |
| At 31 August 2020 |
| PAT Test Plus Limited (Registered number: 07723627) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2021 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Bank loans |
| Hire purchase contracts |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | 8,773 | 8,773 |
| 8. | PENSION COMMITMENTS |
| The company operates a defined contribution pension scheme. |