PCS Civils Ltd - Period Ending 2023-03-28

PCS Civils Ltd - Period Ending 2023-03-28


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Registration number: 07567260

PCS Civils Ltd

Unaudited Filleted Financial Statements

for the Period from 30 March 2022 to 28 March 2023

 

PCS Civils Ltd

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

PCS Civils Ltd

(Registration number: 07567260)
Balance Sheet as at 28 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

424

565

Current assets

 

Debtors

5

10,922

26,704

Cash at bank and in hand

 

575

547

 

11,497

27,251

Creditors: Amounts falling due within one year

6

(960)

(960)

Net current assets

 

10,537

26,291

Net assets

 

10,961

26,856

Capital and reserves

 

Called up share capital

2

2

Profit and loss account

10,959

26,854

Total equity

 

10,961

26,856

For the financial period ending 28 March 2023 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 period 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. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 15 January 2024
 

.........................................
Mr M D Pilling
Director

 

PCS Civils Ltd

Notes to the Unaudited Financial Statements for the Period from 30 March 2022 to 28 March 2023

1

General information

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

The address of its registered office is:
1st Floor, Block C
The Wharf
Manchester Road
Burnley
Lancashire
BB11 1JG

The principal place of business is:
14 Holme St
Stacksteads
Bacup
Lancs
OL13 0ET

These financial statements were authorised for issue by the director on 15 January 2024.

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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 financial statements 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 services in the ordinary course of the company’s activities. Turnover is shown net of value added tax.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

PCS Civils Ltd

Notes to the Unaudited Financial Statements for the Period from 30 March 2022 to 28 March 2023

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

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.

Trade debtors

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

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

PCS Civils Ltd

Notes to the Unaudited Financial Statements for the Period from 30 March 2022 to 28 March 2023

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 period, was 0 (2022 - 0).

4

Tangible assets

Office equipment
£

Total
£

Cost

At 30 March 2022

2,368

2,368

At 28 March 2023

2,368

2,368

Depreciation

At 30 March 2022

1,803

1,803

Charge for the period

141

141

At 28 March 2023

1,944

1,944

Net book value

At 28 March 2023

424

424

At 29 March 2022

565

565

5

Debtors

Note

2023
£

2022
£

Other debtors

 

10,480

26,314

Corporation tax asset

442

390

 

10,922

26,704

6

Creditors

2023
£

2022
£

Due within one year

Accruals and deferred income

960

960

 

PCS Civils Ltd

Notes to the Unaudited Financial Statements for the Period from 30 March 2022 to 28 March 2023

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

         

8

Related party transactions

Transactions with the director

2023

At 30 March 2022
£

Advances to director
£

Repayments by director
£

At 28 March 2023
£

Mr M D Pilling

Loans to director

26,313

10,479

(26,313)

10,479

         
       

 

2022

At 31 March 2021
£

Advances to director
£

Repayments by director
£

At 29 March 2022
£

Mr M D Pilling

Loans to director

15,791

26,313

(15,791)

26,313