REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 1 August 2020 to 31 May 2021 |
for |
THE ELECTRICAL & PLUMBING COMPANY |
LIMITED |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 1 August 2020 to 31 May 2021 |
for |
THE ELECTRICAL & PLUMBING COMPANY |
LIMITED |
THE ELECTRICAL & PLUMBING COMPANY |
LIMITED (REGISTERED NUMBER: 03177989) |
Contents of the Financial Statements |
for the period 1 August 2020 to 31 May 2021 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
THE ELECTRICAL & PLUMBING COMPANY |
LIMITED |
Company Information |
for the period 1 August 2020 to 31 May 2021 |
Directors: |
Secretary: |
Registered office: |
Registered number: |
Accountants: |
Chartered Accountants |
Juniper House |
Warley Hill Business Park |
The Drive |
Brentwood |
Essex |
CM13 3BE |
THE ELECTRICAL & PLUMBING COMPANY |
LIMITED (REGISTERED NUMBER: 03177989) |
Statement of Financial Position |
31 May 2021 |
2021 | 2020 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 4 |
Current assets |
Stocks |
Debtors | 5 |
Cash at bank |
Creditors |
Amounts falling due within one year | 6 |
Net current assets |
Total assets less current liabilities |
Creditors |
Amounts falling due after more than one year |
7 |
( |
) |
Provisions for liabilities | 10 | ( |
) | ( |
) |
Net assets |
Capital and reserves |
Called up share capital | 11 |
Retained earnings |
Shareholders' funds |
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 ELECTRICAL & PLUMBING COMPANY |
LIMITED (REGISTERED NUMBER: 03177989) |
Statement of Financial Position - continued |
31 May 2021 |
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 and authorised for issue on |
THE ELECTRICAL & PLUMBING COMPANY |
LIMITED (REGISTERED NUMBER: 03177989) |
Notes to the Financial Statements |
for the period 1 August 2020 to 31 May 2021 |
1. | Statutory information |
The Electrical & Plumbing Company Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | Accounting policies |
Basis of preparing the financial statements |
Turnover |
Turnover represents net invoiced sales of goods and services, excluding value added tax. |
Tangible fixed assets |
Fixtures and fittings | - |
Motor vehicles | - |
Office equipment | - |
Stocks and work in progress |
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 stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 period 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. |
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. |
THE ELECTRICAL & PLUMBING COMPANY |
LIMITED (REGISTERED NUMBER: 03177989) |
Notes to the Financial Statements - continued |
for the period 1 August 2020 to 31 May 2021 |
2. | Accounting policies - continued |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period. |
Long term contracts |
Profit on long-term contracts is taken as the work is carried out if the final outcome can be assessed with reasonable certainty. The profit included is calculated on a prudent basis to reflect the proportion of the work carried out at the year end, by recording turnover and related costs as contract activity progresses. Turnover is calculated as that proportion of total contract value which costs incurred to date bear to total expected costs for that contract. Revenues derived from variations on contracts are recognised only when they have been accepted by the customer. Full provision is made for losses on all contracts in the year in which they are first foreseen. |
3. | Employees and directors |
The average number of employees during the period was |
4. | Tangible fixed assets |
Fixtures |
and | Motor | Office |
fittings | vehicles | equipment | Totals |
£ | £ | £ | £ |
Cost |
At 1 August 2020 |
Additions |
At 31 May 2021 |
Depreciation |
At 1 August 2020 |
Charge for period |
At 31 May 2021 |
Net book value |
At 31 May 2021 |
At 31 July 2020 |
5. | Debtors: amounts falling due within one year |
2021 | 2020 |
£ | £ |
Trade debtors |
Other debtors |
THE ELECTRICAL & PLUMBING COMPANY |
LIMITED (REGISTERED NUMBER: 03177989) |
Notes to the Financial Statements - continued |
for the period 1 August 2020 to 31 May 2021 |
6. | Creditors: amounts falling due within one year |
2021 | 2020 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
7. | Creditors: amounts falling due after more than one year |
2021 | 2020 |
£ | £ |
Bank loans |
8. | Leasing agreements |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2021 | 2020 |
£ | £ |
Within one year |
Between one and five years |
9. | Secured debts |
Bank overdraft is secured by way of a fixed and floating charge that covers all the property or undertaking of the company. |
10. | Provisions for liabilities |
2021 | 2020 |
£ | £ |
Deferred tax | 4,515 | 4,473 |
Deferred |
tax |
£ |
Balance at 1 August 2020 |
Charge to Statement of Income and Retained Earnings during period |
Balance at 31 May 2021 |
11. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominalvalue: | 2021 | 2020 |
700 | A Ordinary shares | 5p | 35 | 35 |
700 | B Ordinary shares | 5p | 35 | 35 |
642 | C Ordinary shares | 5p | 32 | 30 |
98 | D Ordinary shares | 5p | 5 |
107 | 100 |
THE ELECTRICAL & PLUMBING COMPANY |
LIMITED (REGISTERED NUMBER: 03177989) |
Notes to the Financial Statements - continued |
for the period 1 August 2020 to 31 May 2021 |
12. | Directors' advances, credits and guarantees |
The following advances and credits to directors subsisted during the periods ended 31 May 2021 and 31 July 2020: |
2021 | 2020 |
£ | £ |
Balance outstanding at start of period |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of period |
Balance outstanding at start of period | ( |
) |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of period | ( |
) | ( |
) |