PTD Electrical Limited - Filleted accounts

PTD Electrical Limited - Filleted accounts

PTD ELECTRICAL LIMITED - Company Information

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Registered number
04907196
PTD Electrical Limited
Filleted Accounts
30 September 2017
PTD Electrical Limited
Registered number: 04907196
Balance Sheet
as at 30 September 2017
Notes 2017 2016
£ £
Fixed assets
Tangible assets 2 10,727 12,740
Current assets
Stocks 775 775
Debtors 3 16,380 64,255
Cash at bank and in hand 17,956 9,371
35,111 74,401
Creditors: amounts falling due within one year 4 (44,056) (86,757)
Net current liabilities (8,945) (12,356)
Net assets 1,782 384
Capital and reserves
Called up share capital 100 100
Profit and loss account 1,682 284
Shareholders' funds 1,782 384
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Paul Farrelly
Director
Approved by the board on 15 June 2018
PTD Electrical Limited
Notes to the Accounts
for the year ended 30 September 2017
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% on a reducing balance
Fixtures, fittings, tools and equipment 25% on a reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
2 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 October 2016 50,193
Disposals (14,224)
At 30 September 2017 35,969
Depreciation
At 1 October 2016 37,453
On disposals (12,211)
At 30 September 2017 25,242
Net book value
At 30 September 2017 10,727
At 30 September 2016 12,740
3 Debtors 2017 2016
£ £
Trade debtors 2,791 2,791
Other debtors 13,589 61,464
16,380 64,255
4 Creditors: amounts falling due within one year 2017 2016
£ £
Obligations under finance lease and hire purchase contracts 3,381 8,253
Corporation tax 104 776
Other taxes and social security costs 3,009 30,951
Other creditors 37,562 46,777
44,056 86,757
5 Controlling party
The company is controlled by Mr Paul Farrelly on the basis he exercises significant influence over the company.
6 Other information
PTD Electrical Limited is a private company limited by shares and incorporated in England. Its registered office is:
163 Welcomes Road
Kenley
Surrey
CR8 5HB
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