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Registration number: 06900254

Power Installations (UK) Limited

Unaudited Financial Statements

for the Year Ended 30 November 2023

 

Power Installations (UK) Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Power Installations (UK) Limited

(Registration number: 06900254)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

72,483

56,495

Current assets

 

Debtors

5

426,100

301,157

Cash at bank and in hand

 

205,631

149,169

 

631,731

450,326

Creditors: Amounts falling due within one year

6

(157,089)

(123,070)

Net current assets

 

474,642

327,256

Total assets less current liabilities

 

547,125

383,751

Creditors: Amounts falling due after more than one year

6

(24,143)

(26,667)

Provisions for liabilities

(18,121)

(10,734)

Net assets

 

504,861

346,350

Capital and reserves

 

Called up share capital

8

8

Retained earnings

504,853

346,342

Shareholders' funds

 

504,861

346,350

For the financial year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Power Installations (UK) Limited

(Registration number: 06900254)
Balance Sheet as at 30 November 2023

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 8 August 2024 and signed on its behalf by:
 

.........................................
Mr L N Bavington
Director

 

Power Installations (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
7-9 Macon Court
Crewe
Cheshire
CW1 6EA
UK

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises tax.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Power Installations (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets less estimated residual value, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & Machinery

25% Reducing balance

Motor Vehicles

25% Reducing balance

Fixtures & Fittings

25% and 33% Reducing balance

Provisions

Provisions are recognised when the company has a legal or constructive obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle the obligation and the amount of the obligation can be reliably estimated. Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date.

Leases

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 shorter.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 12 (2022 - 11).

 

Power Installations (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 December 2022

14,635

112,070

13,260

139,965

Additions

659

33,677

4,585

38,921

Disposals

(6,174)

-

-

(6,174)

At 30 November 2023

9,120

145,747

17,845

172,712

Depreciation

At 1 December 2022

12,032

64,123

7,315

83,470

Charge for the year

911

19,551

2,377

22,839

Eliminated on disposal

(6,080)

-

-

(6,080)

At 30 November 2023

6,863

83,674

9,692

100,229

Carrying amount

At 30 November 2023

2,257

62,073

8,153

72,483

At 30 November 2022

2,603

47,947

5,945

56,495

5

Debtors

Current

2023
£

2022
£

Trade debtors

209,440

152,119

Other debtors

216,660

149,038

 

426,100

301,157

 

Power Installations (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Other borrowings

7

12,411

10,746

Trade creditors

 

19,330

21,245

Taxation and social security

 

25,406

19,776

Other creditors

 

99,942

71,303

 

157,089

123,070

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Other borrowings

7

24,143

26,667

7

Loans and borrowings

Included within other borrowings are hire purchase liabilities. These liabilities are secured on the associated assets held by the company.

8

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £1,079 (2022 - £1,079).

 

Power Installations (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

9

Related party transactions

Transactions with directors

2023

At 1 December 2022
£

Advances to director
£

Repayments by director
£

At 30 November 2023
£

Mr P Johnson

43,410

112,488

(100,200)

55,698

         
       

Mr L N Bavington

(2,325)

85,525

(73,650)

9,550

         
       

 

2022

At 1 December 2021
£

Advances to director
£

Repayments by director
£

At 30 November 2022
£

Mr P Johnson

19,468

74,924

(50,982)

43,410

         
       

Mr L N Bavington

(8,325)

18,500

(12,500)

(2,325)