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Registration number: 03875234

PGS Installations Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

PGS Installations Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

PGS Installations Limited

Company Information

Director

C C Clayton

Registered office

7 Beckford Avenue
Easthampstead
Bracknell
Berkshire
RG12 7ND

Accountants

ASL Accountants
15 Millers Way
Houghton Regis
Dunstable
Bedfordshire
LU5 5FH

 

PGS Installations Limited

(Registration number: 03875234)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

630

416

Current assets

 

Debtors

6

11,427

20,658

Cash at bank and in hand

 

11,871

4,036

 

23,298

24,694

Creditors: Amounts falling due within one year

7

(19,003)

(18,389)

Net current assets

 

4,295

6,305

Total assets less current liabilities

 

4,925

6,721

Provisions for liabilities

(120)

(283)

Net assets

 

4,805

6,438

Capital and reserves

 

Called up share capital

100

100

Retained earnings

4,705

6,338

Shareholders' funds

 

4,805

6,438

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

PGS Installations Limited

(Registration number: 03875234)
Balance Sheet as at 31 December 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.

Approved and authorised by the director on 21 August 2024
 

.........................................
C C Clayton
Director

 

PGS Installations Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 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 Beckford Avenue
Easthampstead
Bracknell
Berkshire
RG12 7ND
England

These financial statements were authorised for issue by the director on 21 August 2024.

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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

Government grants

Covid Job Retention Grants are credited to the Profit and Loss account as received.

 

PGS Installations Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income 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.

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, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% straight line

Motor Vehicles

25% straight line

Plant & Machinery

25% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

 

PGS Installations Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2022 - 3).

4

Taxation

Tax charged/(credited) in the income statement

2023
£

2022
£

Current taxation

UK corporation tax

-

1,193

Deferred taxation

Arising from origination and reversal of timing differences

(163)

62

Tax (receipt)/expense in the income statement

(163)

1,255

 

PGS Installations Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 January 2023

1,123

33,460

34,463

69,046

Additions

-

-

423

423

At 31 December 2023

1,123

33,460

34,886

69,469

Depreciation

At 1 January 2023

810

33,460

34,569

68,839

At 31 December 2023

810

33,460

34,569

68,839

Carrying amount

At 31 December 2023

313

-

317

630

At 31 December 2022

416

-

-

416

6

Debtors

Current

2023
£

2022
£

Trade debtors

11,427

20,450

Other debtors

-

208

 

11,427

20,658

 

PGS Installations Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

3,484

3,085

Taxation and social security

2,393

2,324

Accruals and deferred income

1,000

1,000

Other creditors

12,126

11,980

19,003

18,389

8

Related party transactions

Transactions with the director

2023

At 1 January 2023
£

Advances to director
£

At 31 December 2023
£

C C Clayton

Interest free directors loan, repayable on demand

(10,016)

1,918

(8,098)

2022

At 1 January 2022
£

Advances to director
£

At 31 December 2022
£

C C Clayton

Interest free directors loan, repayable on demand

(17,110)

7,094

(10,016)