On-Site Electrical Services Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 02708607 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

FOR

ON-SITE ELECTRICAL SERVICES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J M Dunkason

K S Dunkason

REGISTERED OFFICE:

13 Hursley Road

Chandler's Ford

Eastleigh

Hampshire

SO53 2FW

REGISTERED NUMBER:

02708607 (England and Wales)

FIXED ASSETS

Tangible assets

4

49,481

39,992

CURRENT ASSETS

Debtors

5

168,046

50,568

Cash at bank

150,237

296,696

318,283

347,264

CREDITORS

Amounts falling due within one year

6

266,620

115,767

NET CURRENT ASSETS

51,663

231,497

TOTAL ASSETS LESS CURRENT LIABILITIES

101,144

271,489

PROVISIONS FOR LIABILITIES

484

1,211

NET ASSETS

100,660

270,278

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

100,460

270,078

SHAREHOLDERS' FUNDS

100,660

270,278

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 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 26 August 2022 and were signed on its behalf by:

J M Dunkason - Director

1.	STATUTORY INFORMATION

On-Site Electrical 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 (£).

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on reducing balance and Straight line over 3 years

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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

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.

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.

Stocks

Stocks and work in progress (except long term contracts - see below) are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Costs include all direct expenditure and an appropriate proportion of fixed and variable overheads.

Long term contracts

Turnover on long term contracts is recognised according to the stage reached in the contract by reference to the value of work done. A prudent estimate of the profit attributable to work completed is recognised once the outcome of the contract can be assessed with reasonable certainty. The amount by which the turnover exceeds payments on account is shown under debtors as "amounts recoverable on contracts". The costs on long term contracts not yet taken to the profit and loss account less related foreseeable losses and payments on account are shown in stocks as long term contract balances.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2021 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2021

117,750

Additions

43,309

Disposals

(42,522

)

At 31 March 2022

118,537

DEPRECIATION

At 1 April 2021

77,758

Charge for year

14,814

Eliminated on disposal

(23,516

)

At 31 March 2022

69,056

NET BOOK VALUE

At 31 March 2022

49,481

At 31 March 2021

39,992

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 April 2021

41,356

Additions

37,995

Disposals

(41,356

)

At 31 March 2022

37,995

DEPRECIATION

At 1 April 2021

20,993

Charge for year

8,458

Eliminated on disposal

(23,127

)

At 31 March 2022

6,324

NET BOOK VALUE

At 31 March 2022

31,671

At 31 March 2021

20,363

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Trade debtors

87,386

50,380

Amounts recoverable on contract

24,540

-

Other debtors

56,120

188

168,046

50,568

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Hire purchase contracts

4,028

28,313

Trade creditors

164,888

26,739

Taxation and social security

10,929

48,307

Other creditors

86,775

12,408

266,620

115,767

7.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.22

31.3.21

£

£

Hire purchase contracts

4,028

28,313

The hire purchase contracts are secured on the assets in which they relate.