Appliance Installations Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 06246372 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 May 2022

for

Appliance Installations Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

P Beggs

REGISTERED OFFICE:

C/o Craven Dalton

Unit 11 Portal Business Park

Eaton Lane

Tarporley

Cheshire

CW6 9DL

REGISTERED NUMBER:

06246372 (England and Wales)

ACCOUNTANTS:

Craven Dalton

Jigsaw House

Unit 11 Portal Business Park

Eaton Lane

Tarporley

Cheshire

CW6 9DL

BANKERS:

Starling Bank Limited

3rd Floor

2 Finsbury Avenue

London

EC2M 2PP

FIXED ASSETS

Tangible assets

4

18,562

24,090

CURRENT ASSETS

Debtors

5

46,638

54,053

Cash at bank

7,166

21,792

53,804

75,845

CREDITORS

Amounts falling due within one year

6

41,767

51,830

NET CURRENT ASSETS

12,037

24,015

TOTAL ASSETS LESS CURRENT LIABILITIES

30,599

48,105

CREDITORS

Amounts falling due after more than one year

7

(25,827

)

(36,411

)

PROVISIONS FOR LIABILITIES

(3,882

)

(3,882

)

NET ASSETS

890

7,812

CAPITAL AND RESERVES

Called up share capital

3

3

Retained earnings

887

7,809

SHAREHOLDERS' FUNDS

890

7,812

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 9 December 2022 and were signed by:

P Beggs - Director

1.	STATUTORY INFORMATION

Appliance Installations 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.

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.

Improvements to property

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance and term of lease

Computer equipment

-

33% on cost

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.

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 2 (2021 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

to

Motor

Computer

property

vehicles

equipment

Totals

£

£

£

£

COST

At 1 June 2021

and 31 May 2022

12,541

26,635

4,367

43,543

DEPRECIATION

At 1 June 2021

7,595

7,491

4,367

19,453

Charge for year

742

4,786

-

5,528

At 31 May 2022

8,337

12,277

4,367

24,981

NET BOOK VALUE

At 31 May 2022

4,204

14,358

-

18,562

At 31 May 2021

4,946

19,144

-

24,090

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

Motor

vehicles

£

COST

At 1 June 2021

and 31 May 2022

26,635

DEPRECIATION

At 1 June 2021

7,491

Charge for year

4,786

At 31 May 2022

12,277

NET BOOK VALUE

At 31 May 2022

14,358

At 31 May 2021

19,144

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.22

31.5.21

£

£

Trade debtors

672

310

Directors' loan accounts

45,166

52,943

Prepayments

800

800

46,638

54,053

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.22

31.5.21

£

£

Bank loans and overdrafts

6,000

5,000

Hire purchase contracts

4,865

4,865

Trade creditors

948

3,091

Tax

23,363

26,429

Social security and other taxes

170

89

VAT

5,066

6,001

Accrued expenses

1,355

6,355

41,767

51,830

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.5.22

31.5.21

£

£

Bank loans - 1-2 years

6,000

5,000

Bank loans - 2-5 years

8,281

15,000

Hire purchase contracts

11,546

16,411

25,827

36,411

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.5.22

31.5.21

£

£

Bank loans

20,281

25,000

Hire purchase contracts

16,411

21,276

36,692

46,276

The hire purchase liability is secured on the asset concerned.

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2022 and 31 May 2021:

31.5.22

31.5.21

£

£

P Beggs

Balance outstanding at start of year

52,943

1,668

Amounts advanced

45,223

117,315

Amounts repaid

(53,000

)

(66,040

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

45,166

52,943

During the year the company paid dividends to the director, P Beggs, the sole shareholder and managing director, in the sum of £37,000 (2021 - £65,000).

10.	ULTIMATE CONTROLLING PARTY

Throughout the period the company was controlled by P Beggs, the major shareholder and managing director.