PRM_ELECTRICAL_SERVICES_L - Accounts

PRM ELECTRICAL SERVICES LIMITED - Company Information

Print Friendly Version

Company Registration No. 07182256 (England and Wales)

PRM ELECTRICAL SERVICES LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 29 FEBRUARY 2016

PRM ELECTRICAL SERVICES LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

PRM ELECTRICAL SERVICES LIMITED

ABBREVIATED BALANCE SHEET

AS AT

29 FEBRUARY 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

4,388

5,445

Current assets

Stocks

30,000

25,000

Debtors

25,481

27,485

Cash at bank and in hand

7,317

9,627

62,798

62,112

Creditors: amounts falling due within one year

(69,620)

(65,273)

Net current liabilities

(6,822)

(3,161)

Total assets less current liabilities

(2,434)

2,284

Creditors: amounts falling due after more than one year

(186)

Provisions for liabilities

(288)

(370)

(2,908)

1,914

Capital and reserves

Called up share capital

Profit and loss account

(2,909)

1,913

Shareholders' funds

(2,908)

1,914

PRM ELECTRICAL SERVICES LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

29 FEBRUARY 2016

- 2 -

For the financial year ended 29 February 2016 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 financial statements for the year in question in accordance with section 476;

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 30 November 2016

P R MacFarlane

Director

Company Registration No. 07182256

PRM ELECTRICAL SERVICES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 29 FEBRUARY 2016

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

The company meets its day to day working capital requirements through an overdraft facility which is repayable on demand together with a loan from the director.

The director has prepared cash flow information for the period ending 9 months from the date of approval of these financial statements. On the basis of this cash flow information and discussions with the company's bankers, the director considers that the company will continue to operate within the agreed facility. On this basis the director considers it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of the overdraft facility by the company's bankers.

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery

15% reducing balance

Computer equipment

15% reducing balance

Motor vehicles

25% reducing balance

1.5

Stock and work in progress

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

PRM ELECTRICAL SERVICES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 29 FEBRUARY 2016

- 4 -

Fixed assets

Tangible assets

Cost

At 1 March 2015 & at 29 February 2016

14,821

Depreciation

At 1 March 2015

9,376

Charge for the year

1,057

At 29 February 2016

10,433

Net book value

At 29 February 2016

4,388

At 28 February 2015

5,445

Share capital

2016

2015

Allotted, called up and fully paid

1 ordinary share of £1 each