Registered number
10910948
PHG Mechanical Services Ltd
Filleted Accounts
31 August 2023
PHG Mechanical Services Ltd
Registered number: 10910948
Balance Sheet
as at 31 August 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 77,447 100,250
Current assets
Debtors 4 227,371 304,391
Cash at bank and in hand 144,545 39,880
371,916 344,271
Creditors: amounts falling due within one year 5 (84,374) (113,603)
Net current assets 287,542 230,668
Total assets less current liabilities 364,989 330,918
Creditors: amounts falling due after more than one year 6 (89,145) (113,884)
Net assets 275,844 217,034
Capital and reserves
Called up share capital 100 100
Profit and loss account 275,744 216,934
Shareholders' funds 275,844 217,034
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Simon Rae
Director
Approved by the board on 28 May 2024
PHG Mechanical Services Ltd
Notes to the Accounts
for the year ended 31 August 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 September 2022 2,676 151,715 154,391
Additions 3,013 - 3,013
At 31 August 2023 5,689 151,715 157,404
Depreciation
At 1 September 2022 1,198 52,943 54,141
Charge for the year 1,123 24,693 25,816
At 31 August 2023 2,321 77,636 79,957
Net book value
At 31 August 2023 3,368 74,079 77,447
At 31 August 2022 1,478 98,772 100,250
4 Debtors 2023 2022
£ £
Trade debtors 177,361 177,890
Other debtors 50,010 126,501
227,371 304,391
Other debtors includes a loan to Mr S Rae, a director of the company of £27,145, the maximum amount outstanding in the year was £42,500.
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 10,000 10,648
Obligations under finance lease and hire purchase contracts 15,535 15,535
Trade creditors 33,921 15,753
Other creditors 24,918 71,667
84,374 113,603
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 19,057 28,262
Obligations under finance lease and hire purchase contracts 70,088 85,622
89,145 113,884
7 Other information
PHG Mechanical Services Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Unit 14 Scrubs Farm
Lower Gravel Road
Bromley
Kent
BR2 8LL
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