Company Registration No. 02747258 (England and Wales)
Professional Energy Services Limited
Unaudited accounts
for the year ended 30 June 2023
Professional Energy Services Limited
Unaudited accounts
Contents
Professional Energy Services Limited
Company Information
for the year ended 30 June 2023
Directors
A Dovey
B Zilincarova
Company Number
02747258 (England and Wales)
Registered Office
Challenge House
Sherwood Drive
Bletchley
Milton Keynes
MK3 6DP
Professional Energy Services Limited
Statement of financial position
as at 30 June 2023
Tangible assets
6,791
4,718
Cash at bank and in hand
263,989
221,582
Creditors: amounts falling due within one year
(249,869)
(274,043)
Net current assets
234,780
399,498
Total assets less current liabilities
241,571
404,216
Creditors: amounts falling due after more than one year
(97,893)
(132,893)
Provisions for liabilities
Net assets
141,980
270,426
Called up share capital
20
41
Capital redemption reserve
80
59
Profit and loss account
141,880
270,326
Shareholders' funds
141,980
270,426
For the year ending 30 June 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 directors acknowledge their 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 of Directors and authorised for issue on 13 February 2024 and were signed on its behalf by
A Dovey
Director
Company Registration No. 02747258
Professional Energy Services Limited
Notes to the Accounts
for the year ended 30 June 2023
Professional Energy Services Limited is a private company, limited by shares, registered in England and Wales, registration number 02747258. The registered office is Challenge House, Sherwood Drive, Bletchley, Milton Keynes, MK3 6DP.
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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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
33% on a reducing balance basis
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Expenditure on research and development is written off in the year in which it is incurred.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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.
Professional Energy Services Limited
Notes to the Accounts
for the year ended 30 June 2023
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
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Tangible fixed assets
Plant & machinery
Amounts falling due within one year
Trade debtors
112,742
176,218
Accrued income and prepayments
77,000
25,249
Other debtors
30,918
250,492
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Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
35,000
35,000
Trade creditors
20,522
48,238
Taxes and social security
129,626
91,172
Other creditors
760
10,218
Loans from directors
-
12,977
7
Creditors: amounts falling due after more than one year
2023
2022
8
Average number of employees
During the year the average number of employees was 8 (2022: 9).