P.W.T. Alarms Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05363381 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2021

FOR

P.W.T. ALARMS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

W. Thompson

Mrs. A. Thompson

SECRETARY:

Mrs. A. Thompson

REGISTERED OFFICE:

22 Market Place

Kendal

Cumbria

LA9 4TN

REGISTERED NUMBER:

05363381 (England and Wales)

ACCOUNTANTS:

Mitchinsons Accountants

22 Market Place

Kendal

Cumbria

LA9 4TN

FIXED ASSETS

Tangible assets

4

21,637

19,370

CURRENT ASSETS

Stocks

6,844

3,647

Debtors

5

45,694

45,540

Cash at bank

6,185

9,081

58,723

58,268

CREDITORS

Amounts falling due within one year

6

23,580

32,269

NET CURRENT ASSETS

35,143

25,999

TOTAL ASSETS LESS CURRENT LIABILITIES

56,780

45,369

CREDITORS

Amounts falling due after more than one year

7

(6,072

)

(3,581

)

PROVISIONS FOR LIABILITIES

(3,705

)

(2,922

)

NET ASSETS

47,003

38,866

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

47,001

38,864

SHAREHOLDERS' FUNDS

47,003

38,866

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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 30 November 2021 and were signed on its behalf by:

W. Thompson - Director

1.	STATUTORY INFORMATION

P.W.T. Alarms 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.

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.

In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.

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 -10% 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.

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

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 5 (2020 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 March 2020

31,522

Additions

8,495

Disposals

(7,995

)

At 28 February 2021

32,022

DEPRECIATION

At 1 March 2020

12,152

Charge for year

2,405

Eliminated on disposal

(4,172

)

At 28 February 2021

10,385

NET BOOK VALUE

At 28 February 2021

21,637

At 29 February 2020

19,370

Included within the net book value of £21,637 is £19,760 (2020 - £13,461) relating to assets held under hire purchase agreements.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

45,068

44,914

Other debtors

626

626

45,694

45,540

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Hire purchase contracts

3,926

3,686

Trade creditors

2,005

14,701

Taxation and social security

12,103

8,746

Other creditors

5,546

5,136

23,580

32,269

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Hire purchase contracts

6,072

3,581

8.	ULTIMATE CONTROLLING PARTY

The company is jointly controlled by W Thompson and A Thompson who are both directors and shareholders.