On-Site Electrical Services Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02708607 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2018

FOR

ON-SITE ELECTRICAL SERVICES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J M Dunkason

K S Dunkason

REGISTERED OFFICE:

13 Hursley Road

Chandler's Ford

Eastleigh

Hampshire

SO53 2FW

REGISTERED NUMBER:

02708607 (England and Wales)

ACCOUNTANTS:

Underwood Barron LLP

Monks Brook House

13/17 Hursley Road

Chandlers Ford

Eastleigh

Hampshire

SO53 2FW

FIXED ASSETS

Tangible assets

4

52,658

68,483

CURRENT ASSETS

Debtors

5

193,592

385,875

Cash at bank

73,278

20,480

266,870

406,355

CREDITORS

Amounts falling due within one year

6

133,485

167,219

NET CURRENT ASSETS

133,385

239,136

TOTAL ASSETS LESS CURRENT LIABILITIES

186,043

307,619

CREDITORS

Amounts falling due after more than one year

7

(7,407

)

(21,488

)

PROVISIONS FOR LIABILITIES

(10,005

)

(13,012

)

NET ASSETS

168,631

273,119

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

168,431

272,919

SHAREHOLDERS' FUNDS

168,631

273,119

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2018 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 14th November 2018 and were signed on its behalf by:

J M Dunkason - Director

1.	STATUTORY INFORMATION

On-Site Electrical Services 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

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

-

25% on reducing balance and Straight line over 3 years

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

Stocks

Stocks and work in progress (except long term contracts - see below) are valued at the lower of cost and net

realisable value, after making due allowance for obsolete and slow moving items. Costs include all direct

expenditure and an appropriate proportion of fixed and variable overheads.

Long term contracts

Turnover on long term contracts is recognised according to the stage reached in the contract by reference to the

value of work done. A prudent estimate of the profit attributable to work completed is recognised once the

outcome of the contract can be assessed with reasonable certainty. The amount by which the turnover exceeds

payments on account is shown under debtors as "amounts recoverable on contracts". The costs on long term

contracts not yet taken to the profit and loss account less related foreseeable losses and payments on account

are shown in stocks as long term contract balances.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2017 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st April 2017

109,447

Additions

3,232

Disposals

(8,359

)

At 31st March 2018

104,320

DEPRECIATION

At 1st April 2017

40,964

Charge for year

17,897

Eliminated on disposal

(7,199

)

At 31st March 2018

51,662

NET BOOK VALUE

At 31st March 2018

52,658

At 31st March 2017

68,483

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

Plant and

machinery

etc

£

COST

At 1st April 2017

96,250

Transfer to ownership

(59,250

)

At 31st March 2018

37,000

DEPRECIATION

At 1st April 2017

32,750

Charge for year

8,484

Transfer to ownership

(29,684

)

At 31st March 2018

11,550

NET BOOK VALUE

At 31st March 2018

25,450

At 31st March 2017

63,500

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Trade debtors

94,663

93,491

Amounts recoverable on contract

98,741

100,340

Other debtors

188

192,044

193,592

385,875

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Hire purchase contracts

9,876

17,853

Trade creditors

55,177

56,649

Taxation and social security

55,951

80,418

Other creditors

12,481

12,299

133,485

167,219

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.18

31.3.17

£

£

Hire purchase contracts

7,407

21,488

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.18

31.3.17

£

£

Hire purchase contracts

17,283

39,341

The hire purchase contracts are secured on the assets in which they relate.

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31st March 2018 and

31st March 2017:

31.3.18

31.3.17

£

£

J M Dunkason and K S Dunkason

Balance outstanding at start of year

189,409

(26,055

)

Amounts advanced

126,462

215,464

Amounts repaid

(317,005

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(1,134

)

189,409

The terms agreed are that the advances are repayable on demand and interest is to be charged on all advances

at the official rate where the balance exceeds £10,000 at any time during the year.

Interest of £2,764 (2017: £3,551) has been charged during the year.