P.C.S. Air Conditioning Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05696805 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2021

for

P.C.S. Air Conditioning Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs S A Sullivan

P C Sullivan

SECRETARY:

Mrs S A Sullivan

REGISTERED OFFICE:

Dayan House

818 Whitchurch Lane

Whitchurch

Bristol

BS14 0JP

REGISTERED NUMBER:

05696805 (England and Wales)

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

12,643

16,858

12,643

16,858

CURRENT ASSETS

Debtors

6

20,122

57,115

Cash at bank

498,410

546,737

518,532

603,852

CREDITORS

Amounts falling due within one year

7

45,500

72,820

NET CURRENT ASSETS

473,032

531,032

TOTAL ASSETS LESS CURRENT LIABILITIES

485,675

547,890

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

485,673

547,888

SHAREHOLDERS' FUNDS

485,675

547,890

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 28 December 2021 and were signed on its behalf by:

P C Sullivan - Director

1.	STATUTORY INFORMATION

P.C.S. Air Conditioning 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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

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 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2020 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2020

and 31 March 2021

25,000

AMORTISATION

At 1 April 2020

and 31 March 2021

25,000

NET BOOK VALUE

At 31 March 2021

-

At 31 March 2020

-

5.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2020

and 31 March 2021

2,200

42,387

14,925

59,512

DEPRECIATION

At 1 April 2020

1,792

28,975

11,887

42,654

Charge for year

102

3,353

760

4,215

At 31 March 2021

1,894

32,328

12,647

46,869

NET BOOK VALUE

At 31 March 2021

306

10,059

2,278

12,643

At 31 March 2020

408

13,412

3,038

16,858

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Trade debtors

20,122

57,115

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Trade creditors

2,064

19,611

Taxation and social security

18,982

31,828

Other creditors

24,454

21,381

45,500

72,820