Registered number
07355989
Piling Operators Limited
Filleted Accounts
31 March 2022
Piling Operators Limited
Registered number: 07355989
Balance Sheet
as at 31 March 2022
Notes 2022 2021
£ £
Fixed assets
Tangible assets 3 1,674,561 1,699,003
Current assets
Debtors 4 423,059 434,903
Cash at bank and in hand 159,952 257,243
583,011 692,146
Creditors: amounts falling due within one year 5 (177,103) (300,352)
Net Current Assets 405,908 391,794
Total assets less current liabilities 2,080,469 2,090,797
Creditors: amounts falling due after more than one year 6 (252,164) (300,000)
Total Assets 1,828,305 1,790,797
Capital and reserves
Called up share capital 7,000 7,000
Profit and loss account 1,821,305 1,783,797
Shareholder's funds 1,828,305 1,790,797
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
Mr Daniel Martin
Director
Approved by the board on 12 August 2022
Piling Operators Limited
Notes to the Accounts
for the year ended 31 March 2022
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% Reducing balance method
Fixtures, fittings, tools and equipment 25% Reducing balance method
Motor Vehicles 25% Reducing balance method
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 10 1
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 April 2021 1,631,721 119,629 172,481 1,923,831
Additions - 8,333 - 8,333
At 31 March 2022 1,631,721 127,962 172,481 1,932,164
Depreciation
At 1 April 2021 - 86,251 138,577 224,828
Charge for the year - 10,428 22,347 32,775
At 31 March 2022 - 96,679 160,924 257,603
Net book value
At 31 March 2022 1,631,721 31,283 11,557 1,674,561
At 31 March 2021 1,631,721 33,378 33,904 1,699,003
4 Debtors 2022 2021
£ £
Trade debtors 271,059 282,904
Other debtors 152,000 151,999
423,059 434,903
5 Creditors: amounts falling due within one year 2022 2021
£ £
Trade creditors - 28,122
Corporation tax 15,624 6,356
Other taxes and social security costs 93,950 222,874
Other creditors 67,529 43,000
177,103 300,352
6 Creditors: amounts falling due after one year 2022 2021
£ £
Bank loans 252,164 300,000
7 Other information
Piling Operators Limited is a private company limited by shares and incorporated in England. Its registered office is:
117 Passfield Avenue
Eastleigh
SO50 9NJ
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