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Company Registration No. 4778990 (England and Wales)
PEC Rentals Limited Unaudited accounts for the year ended 28 February 2023
PEC Rentals Limited Unaudited accounts Contents
Page
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PEC Rentals Limited Company Information for the year ended 28 February 2023
Director
Mrs D Chapple
Company Number
4778990 (England and Wales)
Registered Office
Bridge Farm Besthorpe Road North Scarle Lincoln LN6 9EZ
Accountants
Mike Behan Accountant 21 Millbrook Close North Hykeham Lincoln LN6 9TA
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PEC Rentals Limited Statement of financial position as at 28 February 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
2,848 
3,664 
Current assets
Inventories
1,750 
1,750 
Debtors
1,089 
731 
Cash at bank and in hand
5,599 
7,985 
8,438 
10,466 
Creditors: amounts falling due within one year
(27,819)
(31,877)
Net current liabilities
(19,381)
(21,411)
Total assets less current liabilities
(16,533)
(17,747)
Creditors: amounts falling due after more than one year
(5,400)
(7,800)
Net liabilities
(21,933)
(25,547)
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
(21,935)
(25,549)
Shareholders' funds
(21,933)
(25,547)
For the year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 6 November 2023 and were signed on its behalf by
Mrs D Chapple Director Company Registration No. 4778990
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PEC Rentals Limited Notes to the Accounts for the year ended 28 February 2023
1
Statutory information
PEC Rentals Limited is a private company, limited by shares, registered in England and Wales, registration number 4778990. The registered office is Bridge Farm, Besthorpe Road, North Scarle, Lincoln, LN6 9EZ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% 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 includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
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PEC Rentals Limited Notes to the Accounts for the year ended 28 February 2023
4
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 March 2022
266,759 
Additions
133 
At 28 February 2023
266,892 
Depreciation
At 1 March 2022
263,095 
Charge for the year
949 
At 28 February 2023
264,044 
Net book value
At 28 February 2023
2,848 
At 28 February 2022
3,664 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
1,089 
731 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
2,400 
2,400 
VAT
2,717 
2,633 
Other creditors
475 
475 
Loans from directors
22,227 
26,369 
27,819 
31,877 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
5,400 
7,800 
8
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2 
2 
9
Average number of employees
During the year the average number of employees was 1 (2022: 1).
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