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

REGISTERED NUMBER: 04528812

Financial Statements for the Year Ended 31 August 2021

for

P & C (Electrical) Contractors Limited

Page

Company Information

1

Statement of Financial Position

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

10,941

475

CURRENT ASSETS

Debtors

5

11,531

10,850

Cash at bank

42,866

50,584

54,397

61,434

CREDITORS

Amounts falling due within one year

6

38,511

41,348

NET CURRENT ASSETS

15,886

20,086

TOTAL ASSETS LESS CURRENT LIABILITIES

26,827

20,561

PROVISIONS FOR LIABILITIES

-

92

NET ASSETS

26,827

20,469

CAPITAL AND RESERVES

Called up share capital

8

2

2

Retained earnings

9

26,825

20,467

SHAREHOLDERS' FUNDS

26,827

20,469

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2021 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 13 April 2022 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 (2020 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 September 2020

8,360

1,425

8,256

1,637

19,678

Additions

-

-

14,112

-

14,112

At 31 August 2021

8,360

1,425

22,368

1,637

33,790

DEPRECIATION

At 1 September 2020

8,065

1,380

8,146

1,612

19,203

Charge for year

74

11

3,555

6

3,646

At 31 August 2021

8,139

1,391

11,701

1,618

22,849

NET BOOK VALUE

At 31 August 2021

221

34

10,667

19

10,941

At 31 August 2020

295

45

110

25

475

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.21

31.8.20

£

£

Trade debtors

11,531

8,039

Directors' current accounts

-

2,811

11,531

10,850

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.21

31.8.20

£

£

Bank loans and overdrafts (see note 7)

29,000

30,000

Tax

6,121

6,488

Social security and other taxes

1,983

502

Net Sub contractors

412

-

Net Wages

40

-

VAT

365

4,358

Directors' current accounts

590

-

38,511

41,348

7.

LOANS

An analysis of the maturity of loans is given below:

31.8.21

31.8.20

£

£

Amounts falling due within one year or on demand:

Bank loans

29,000

30,000

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.21

31.8.20

value:

£

£

2

Ordinary

£1

2

2

9.

RESERVES

Retained

earnings

£

At 1 September 2020

20,467

Profit for the year

36,358

Dividends

(30,000

)

At 31 August 2021

26,825