Peacock Engineering Limited - Accounts to registrar (filleted) - small 18.2

Peacock Engineering Limited - Accounts to registrar (filleted) - small 18.2

PEACOCK ENGINEERING LIMITED - Company Information

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REGISTERED NUMBER: 07058045 (England and Wales)











FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

FOR

PEACOCK ENGINEERING LIMITED
PEACOCK ENGINEERING LIMITED (REGISTERED NUMBER: 07058045)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PEACOCK ENGINEERING LIMITED


COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2021







DIRECTORS: A J Cambridge
M W Knapp
R N Walker





REGISTERED OFFICE: Peacock House
Bell Lane Office Village
Little Chalfont
Buckinghamshire
HP6 6FA





REGISTERED NUMBER: 07058045 (England and Wales)





ACCOUNTANTS: Nunn Hayward LLP
Chartered Accountants
2-4 Packhorse Road
Gerrards Cross
Buckinghamshire
SL9 7QE
1
PEACOCK ENGINEERING LIMITED (REGISTERED NUMBER: 07058045)


BALANCE SHEET
31 MARCH 2021

2021 2020
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 38,952 53,325
Investments 5 1,203 1,203
40,155 54,528

CURRENT ASSETS
Stocks - 67,900
Debtors 6 3,215,534 4,896,962
Cash at bank 1,620,774 1,835,348
4,836,308 6,800,210
CREDITORS
Amounts falling due within one year 7 4,120,764 5,594,449
NET CURRENT ASSETS 715,544 1,205,761
TOTAL ASSETS LESS CURRENT LIABILITIES 755,699 1,260,289

PROVISIONS FOR LIABILITIES 7,401 10,076
NET ASSETS 748,298 1,250,213

CAPITAL AND RESERVES
Called up share capital 300 300
Retained earnings 747,998 1,249,913
SHAREHOLDERS' FUNDS 748,298 1,250,213

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 20 October 2021 and were signed on its behalf by:





A J Cambridge - Director


The notes form part of these financial statements

2
PEACOCK ENGINEERING LIMITED (REGISTERED NUMBER: 07058045)


NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021


1. STATUTORY INFORMATION

Peacock Engineering 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.

Preparation of consolidated financial statements
The financial statements contain information about Peacock Engineering Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover represents net invoiced sales of goods and services provided to clients, excluding value added tax.

Revenue from turnover is recognised as contract activity progresses to reflect the full or partial performance of the contractual obligations.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost
Fixtures and fittings - 20% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3 continued...
PEACOCK ENGINEERING LIMITED (REGISTERED NUMBER: 07058045)


NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2021


2. ACCOUNTING POLICIES - continued

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 38 (2020 - 33 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Computer and
equipment fittings Totals
£ £ £
COST
At 1 April 2020 113,828 119,348 233,176
Additions 23,915 - 23,915
At 31 March 2021 137,743 119,348 257,091
DEPRECIATION
At 1 April 2020 71,297 108,554 179,851
Charge for year 30,720 7,568 38,288
At 31 March 2021 102,017 116,122 218,139
NET BOOK VALUE
At 31 March 2021 35,726 3,226 38,952
At 31 March 2020 42,531 10,794 53,325

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£
COST
At 1 April 2020
and 31 March 2021 1,203
NET BOOK VALUE
At 31 March 2021 1,203
At 31 March 2020 1,203

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£ £
Trade debtors 1,379,279 2,712,613
Other debtors 1,836,255 2,184,349
3,215,534 4,896,962

4 continued...
PEACOCK ENGINEERING LIMITED (REGISTERED NUMBER: 07058045)


NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2021


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£ £
Trade creditors 384,324 1,991,862
Taxation and social security 405,172 180,589
Other creditors 3,331,268 3,421,998
4,120,764 5,594,449

8. OTHER FINANCIAL COMMITMENTS

At 31 March 2021, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £nil (2020: £10,125).

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