PAS Technical Services Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 06184479 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2022

for

PAS Technical Services Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

P Smith

SECRETARY:

B Roye

REGISTERED OFFICE:

Airport House

Suite 43-45

Purley Way

Croydon

Surrey

CR0 0XZ

REGISTERED NUMBER:

06184479 (England and Wales)

ACCOUNTANTS:

Ledger Sparks Limited

Airport House

Suite 43-45

Purley Way

Croydon

CR0 0XZ

FIXED ASSETS

Tangible assets

4

1,267

586

CURRENT ASSETS

Debtors

5

15,779

17,758

Cash at bank

293,352

254,789

309,131

272,547

CREDITORS

Amounts falling due within one year

6

(76,991

)

(56,161

)

NET CURRENT ASSETS

232,140

216,386

TOTAL ASSETS LESS CURRENT LIABILITIES

233,407

216,972

PROVISIONS FOR LIABILITIES

7

(176

)

(32

)

NET ASSETS

233,231

216,940

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

8

233,230

216,939

233,231

216,940

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 November 2022 and were signed by:

P Smith - Director

1.	STATUTORY INFORMATION

PAS Technical Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

The principal activity of the company continued to be that of Commission Engineering & Architectural activities.

2.	ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS

These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

TURNOVER

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

TANGIBLE FIXED ASSETS

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery

25% Straight Line

Fixtures, fittings & equipment

25% Straight Line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

GOVERNMENT GRANTS

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received using the accrual model.

FINANCIAL INSTRUMENTS

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

TAXATION

The tax expense represents the sum of the tax currently payable and deferred tax.

CURRENT TAX

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

DEFERRED TAX

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date which are considered as immaterial.

PROVISIONS FOR LIABILITIES

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the Statement of income & retained earnings in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the Balance sheet.

GOING CONCERN

At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

COST

At 1 April 2021

4,872

9,120

13,992

Additions

1,450

-

1,450

Disposals

(3,647

)

(8,243

)

(11,890

)

At 31 March 2022

2,675

877

3,552

DEPRECIATION

At 1 April 2021

4,872

8,534

13,406

Charge for year

310

219

529

Eliminated on disposal

(3,647

)

(8,003

)

(11,650

)

At 31 March 2022

1,535

750

2,285

NET BOOK VALUE

At 31 March 2022

1,140

127

1,267

At 31 March 2021

-

586

586

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

15,677

16,984

Other debtors

102

774

15,779

17,758

The director considers the carrying value of trade and other receivables approximate to their fair values.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Taxation and social security

19,165

15,412

Other creditors

57,826

40,749

76,991

56,161

The director considers the carrying amounts of current liabilities approximate to their fair values.

7.	PROVISIONS FOR LIABILITIES

2022

2021

£

£

Deferred tax

176

32

Deferred

tax

£

Balance at 1 April 2021

32

Provided during year

144

Balance at 31 March 2022

176

8.

RESERVES

PROFIT AND LOSS RESERVES

The Profit and loss account comprises all current and prior period retained profit and losses after deducting any distributions made to the company's shareholders. This is a distributable reserve.

9.	RELATED PARTY DISCLOSURES

As at the balance sheet date included in creditors were amounts of £57,014 (2021 - £40,145) due to the director.

10.	EVENTS DURING THE REPORTING PERIOD

The Coronavirus (COVID-19) have emerged globally resulting in a significant impact on businesses worldwide and the UK government continued to impose restrictions. As a result some business operations have been restricted, however the company continues to operate using alternative methods and remote working. Hence financial statements do not include any adjustments that might result from the outcome of this uncertainty. The directors are continuing to monitor, assess and act to the current changing environment in order to position the company to ensure its future success.