Harris Electrical (Powys) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04591655 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2017

for

Harris Electrical (Powys) 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

26,563

23,607

CURRENT ASSETS

Stocks

1,746

9,238

Debtors

5

15,883

34,106

Cash at bank

16,881

6,878

34,510

50,222

CREDITORS

Amounts falling due within one year

6

60,533

73,472

NET CURRENT LIABILITIES

(26,023

)

(23,250

)

TOTAL ASSETS LESS CURRENT LIABILITIES

540

357

PROVISIONS FOR LIABILITIES

5,047

4,722

NET LIABILITIES

(4,507

)

(4,365

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(4,607

)

(4,465

)

SHAREHOLDERS' FUNDS

(4,507

)

(4,365

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2017 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 3 September 2018 and were signed on its behalf by:

Mrs K Harris - Director

1.	STATUTORY INFORMATION

Harris Electrical (Powys) 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 (2016 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2017

53,232

Additions

8,720

At 31 December 2017

61,952

DEPRECIATION

At 1 January 2017

29,625

Charge for year

5,764

At 31 December 2017

35,389

NET BOOK VALUE

At 31 December 2017

26,563

At 31 December 2016

23,607

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

Plant and

machinery

etc

£

COST

At 1 January 2017

16,300

Transfer to ownership

(16,300

)

At 31 December 2017

-

DEPRECIATION

At 1 January 2017

6,524

Transfer to ownership

(6,524

)

At 31 December 2017

-

NET BOOK VALUE

At 31 December 2017

-

At 31 December 2016

9,776

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

£

£

Trade debtors

14,765

21,749

Other debtors

1,118

12,357

15,883

34,106

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

£

£

Hire purchase contracts

-

1,550

Trade creditors

11,319

20,713

Taxation and social security

6,729

3,991

Other creditors

42,485

47,218

60,533

73,472

7.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.17

31.12.16

£

£

Hire purchase contracts

-

1,550