P&M Electrical Control & Automation Ltd - Period Ending 2016-05-31

P AND M ELECTRICAL CONTROL AND AUTOMATION LIMITED - Company Information

Registration number: 05186955

P&M Electrical Control & Automation Ltd

Unaudited Abbreviated Accounts

for the Year Ended 31 May 2016

SA Accountancy
5 Victoria Street
Cinderford
Gloucestershire
GL14 2ET

P&M Electrical Control & Automation Ltd

Contents

Accountants' Report	1
Abbreviated Balance Sheet	2
Notes to the Abbreviated Accounts	3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Accountants' Report to the Directors of
P&M Electrical Control & Automation Ltd
for the Year Ended 31 May 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of P&M Electrical Control & Automation Ltd for the year ended 31 May 2016 set out on pages XX from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Directors of P&M Electrical Control & Automation Ltd, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of P&M Electrical Control & Automation Ltd. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than P&M Electrical Control & Automation Ltd and its Directors as a body for our work or for this report.

It is your duty to ensure that P&M Electrical Control & Automation Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of P&M Electrical Control & Automation Ltd. You consider that P&M Electrical Control & Automation Ltd is exempt from the statutory audit requirement for the year.

......................................

SA Accountancy
5 Victoria Street
Cinderford
Gloucestershire
GL14 2ET

16 September 2016

Page 1

P&M Electrical Control & Automation Ltd

(Registration number: 05186955)
Abbreviated Balance Sheet as at 31 May 2016

	Note	2016 £	2015 £
Fixed assets
Tangible assets	2	14,254	18,475
Current assets
Stocks		3,875	6,500
Debtors		133,144	99,342
Cash at bank and in hand		135,106	29,918
		272,125	135,760
Creditors: Amounts falling due within one year		(128,891)	(69,659)
Net current assets		143,234	66,101
Total assets less current liabilities		157,488	84,576
Creditors: Amounts falling due after more than one year		(5,933)	(9,029)
Accruals and deferred income		(945)	(945)
Net assets		150,610	74,602
Capital and reserves
Called up share capital	3	7	7
Profit and loss account		150,603	74,595
Shareholders funds		150,610	74,602

For the year ending 31 May 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 16 September 2016 and signed on its behalf by:

.........................................
Mr P Hawkins
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

P&M Electrical Control & Automation Ltd

Notes to the Abbreviated Accounts

Accounting policies

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Plant and machinery	15% on reducing balance
Commercial motor vehicles	25% on reducing balance

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Hire purchase and leasing

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

Page 3

P&M Electrical Control & Automation Ltd

Notes to the Abbreviated Accounts

Fixed assets

	Intangible assets £	Tangible assets £	Total £
Cost
At 1 June 2015	10,000	36,753	46,753
At 31 May 2016	10,000	36,753	46,753
Depreciation
At 1 June 2015	10,000	18,278	28,278
Charge for the year	-	4,221	4,221
At 31 May 2016	10,000	22,499	32,499
Net book value
At 31 May 2016	-	14,254	14,254
At 31 May 2015	-	18,475	18,475

Share capital

Allotted, called up and fully paid shares

	2016		2015
	No.	£	No.	£
Ordinary 'A' of £1 each	5	5	5	5
Ordinary 'B' of £1 each	2	2	2	2
	7	7	7	7

Control

The directors are the controlling party by virtue of their controlling shareholding in the company.

Page 4