Peter Harris Electrical Contracting Ltd - Accounts to registrar - small 17.2

REGISTERED NUMBER: 04591655 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2016

for

Peter Harris Electrical Contracting

Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P Harris

Mrs K Harris

SECRETARY:

Mrs K Harris

REGISTERED OFFICE:

Cross Chambers

9 High Street

Newtown

Powys

SY16 2NY

REGISTERED NUMBER:

04591655 (England and Wales)

ACCOUNTANTS:

Morgan Griffiths LLP

Chartered Accountants

Cross Chambers

9 High Street

Newtown

Powys

SY16 2NY

FIXED ASSETS

Tangible assets

4

23,607

17,341

CURRENT ASSETS

Stocks

9,238

2,001

Debtors

5

34,106

31,060

Cash at bank

6,878

3,893

50,222

36,954

CREDITORS

Amounts falling due within one year

6

73,472

50,332

NET CURRENT LIABILITIES

(23,250

)

(13,378

)

TOTAL ASSETS LESS CURRENT LIABILITIES

357

3,963

CREDITORS

Amounts falling due after more than one year

7

-

(1,550

)

PROVISIONS FOR LIABILITIES

(4,722

)

(3,468

)

NET LIABILITIES

(4,365

)

(1,055

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(4,465

)

(1,155

)

SHAREHOLDERS' FUNDS

(4,365

)

(1,055

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 8 August 2017 and were signed on its behalf by:

Mrs K Harris - Director

1.	STATUTORY INFORMATION

Peter Harris Electrical Contracting 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents work done, excluding value added tax.

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.

Plant and machinery etc

-

20% on reducing balance and 10% on reducing balance

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due

allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling

costs in bringing stocks to their present location and condition.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2016

42,037

Additions

11,195

At 31 December 2016

53,232

DEPRECIATION

At 1 January 2016

24,696

Charge for year

4,929

At 31 December 2016

29,625

NET BOOK VALUE

At 31 December 2016

23,607

At 31 December 2015

17,341

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

Plant and

machinery

etc

£

COST

At 1 January 2016

and 31 December 2016

16,300

DEPRECIATION

At 1 January 2016

4,438

Charge for year

2,086

At 31 December 2016

6,524

NET BOOK VALUE

At 31 December 2016

9,776

At 31 December 2015

11,862

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

£

£

Trade debtors

21,749

23,185

Other debtors

12,357

7,875

34,106

31,060

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

£

£

Hire purchase contracts

1,550

2,066

Trade creditors

20,713

9,732

Taxation and social security

3,991

7,502

Other creditors

47,218

31,032

73,472

50,332

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.16

31.12.15

£

£

Hire purchase contracts

-

1,550

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.16

31.12.15

£

£

Hire purchase contracts

1,550

3,616