Company registration number 08412042 (England and Wales)
PINEWOOD ELECTRICAL CONTROLS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024
PAGES FOR FILING WITH REGISTRAR
PINEWOOD ELECTRICAL CONTROLS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
PINEWOOD ELECTRICAL CONTROLS LIMITED (REGISTERED NUMBER: 08412042)
BALANCE SHEET
AS AT
29 FEBRUARY 2024
29 February 2024
- 1 -
29 February 2024
28 February 2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
19,388
21,475
Current assets
Debtors
4
45,510
21,497
Cash at bank and in hand
51,338
22,968
96,848
44,465
Creditors: amounts falling due within one year
5
(53,727)
(34,078)
Net current assets
43,121
10,387
Total assets less current liabilities
62,509
31,862
Creditors: amounts falling due after more than one year
6
(6,200)
Provisions for liabilities
(2,610)
(2,071)
Net assets
59,899
23,591
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
59,897
23,589
Total equity
59,899
23,591
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
PINEWOOD ELECTRICAL CONTROLS LIMITED (REGISTERED NUMBER: 08412042)
BALANCE SHEET (CONTINUED)
AS AT
29 FEBRUARY 2024
29 February 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 26 June 2024 and are signed on its behalf by:
Mr J Parfitt
Director
PINEWOOD ELECTRICAL CONTROLS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024
- 3 -
1
Accounting policies
Company information
Pinewood Electrical Controls Limited is a private company limited by shares incorporated in England and Wales. The registered office is 2nd Floor (Right) Downe House, 303 High Street, Orpington, Kent, England, BR6 0NN.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and machinery
25% on reducing balance
Fixtures, fittings & equipment
25% on reducing balance
Computer equipment
33% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
1.5
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
PINEWOOD ELECTRICAL CONTROLS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 FEBRUARY 2024
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
2
3
Tangible fixed assets
Plant and machinery
Fixtures, fittings & equipment
Computer equipment
Total
£
£
£
£
Cost
At 1 March 2023
30,753
24,940
3,583
59,276
Additions
268
3,951
4,219
At 29 February 2024
31,021
24,940
7,534
63,495
Depreciation and impairment
At 1 March 2023
20,891
13,391
3,519
37,801
Depreciation charged in the year
2,493
2,888
925
6,306
At 29 February 2024
23,384
16,279
4,444
44,107
Carrying amount
At 29 February 2024
7,637
8,661
3,090
19,388
At 28 February 2023
9,862
11,549
64
21,475
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
43,857
18,414
Other debtors
1,653
3,083
45,510
21,497
PINEWOOD ELECTRICAL CONTROLS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 FEBRUARY 2024
- 5 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
15,921
Taxation and social security
31,570
18,703
Other creditors
6,236
15,375
53,727
34,078
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
6,200
7
Financial commitments, guarantees and contingent liabilities
The hire purchase loan included in other creditors is secured against the asset it relates to.