P.K.B. Electrical & Data Installation Ltd - Period Ending 2021-04-30

P.K.B. Electrical & Data Installation Ltd

Contents

Balance Sheet	1
Notes to the Unaudited Financial Statements	2 to 4

P.K.B. Electrical & Data Installation Ltd

(Registration number: 03345658)
Balance Sheet as at 30 April 2021

	Note	2021 £	2020 £
Fixed assets
Tangible assets	4	1,777	1,925
Current assets
Debtors	5	47,376	37,785
Cash at bank and in hand		8	4,029
		47,384	41,814
Creditors: Amounts falling due within one year	6	(10,322)	(8,192)
Net current assets		37,062	33,622
Net assets		38,839	35,547
Capital and reserves
Called up share capital		8	8
Profit and loss account		38,831	35,539
Shareholders' funds		38,839	35,547

For the financial year ending 30 April 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 31 December 2021
 

......................................... P D Buxey Director

P.K.B. Electrical & Data Installation Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2021

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
2 Old Bath Road
Newbury
Berkshire
RG14 1QL
England

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The director has considered the impact of the global Covid-19 pandemic on the ability of the company to continue trading for the foreseeable future, based on this review and taken together with existing reserves the director is confident that he can sustain the business therefore the accounts have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of electrical installation services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Office equipment	25% reducing balance basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

P.K.B. Electrical & Data Installation Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2021

Debtors

Trade debtors are amounts due from customers for electrical installation services performed in the ordinary course of business.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2020 - 1).

4	Tangible assets

	Office equipment £	Total £
Cost or valuation
At 1 May 2020	9,559	9,559
Additions	405	405
At 30 April 2021	9,964	9,964
Depreciation
At 1 May 2020	7,634	7,634
Charge for the year	553	553
At 30 April 2021	8,187	8,187
Carrying amount
At 30 April 2021	1,777	1,777
At 30 April 2020	1,925	1,925

5

Debtors

	2021 £	2020 £
Trade debtors	4,882	-
Other debtors	42,494	37,785
	47,376	37,785

P.K.B. Electrical & Data Installation Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2021

6

Creditors

Creditors: amounts falling due within one year

	2021 £	2020 £
Due within one year
Trade creditors	180	-
Taxation and social security	9,142	7,192
Other creditors	1,000	1,000
	10,322	8,192

7	Related party transactions

Transactions with the director

2021	At 1 May 2020 £	Advances to directors £	Repayments by director £	At 30 April 2021 £
P D Buxey
P Buxey	37,785	54,582	(50,713)	41,654

2020	At 1 May 2019 £	Advances to directors £	Repayments by director £	At 30 April 2020 £
P D Buxey
P Buxey	27,907	50,814	(40,936)	37,785

Other transactions with the director

P D Buxey had a loan account with the company during the year on which interest has been charged at the HMRC official rate. At the balance sheet date the amount due from P D Buxey was £41,654 (2020: £37,785).