REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2024 |
FOR |
PEARLAND POWER CONTRACTING LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2024 |
FOR |
PEARLAND POWER CONTRACTING LIMITED |
PEARLAND POWER CONTRACTING LIMITED (REGISTERED NUMBER: 00857839) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
PEARLAND POWER CONTRACTING LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 JULY 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
61 Station Road |
Sudbury |
Suffolk |
CO10 2SP |
PEARLAND POWER CONTRACTING LIMITED (REGISTERED NUMBER: 00857839) |
BALANCE SHEET |
31 JULY 2024 |
31.7.23 | 31.7.24 |
£ | £ | Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Revaluation reserve | 6 |
Capital redemption reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
PEARLAND POWER CONTRACTING LIMITED (REGISTERED NUMBER: 00857839) |
BALANCE SHEET - continued |
31 JULY 2024 |
The financial statements were approved by the director and authorised for issue on |
PEARLAND POWER CONTRACTING LIMITED (REGISTERED NUMBER: 00857839) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2024 |
1. | STATUTORY INFORMATION |
Pearland Power Contracting Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Plant and machinery - 25% on reducing balance |
Motor vehicles - 25% on reducing balance |
Office equipment - 25% on reducing balance |
Tools and equipment - 10% on reducing balance |
Freehold property is not depreciated as its carrying value within the balance sheet is considered its current market value. |
Stocks |
Work in progress is valued at the lower of cost and net realisable value. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Turnover |
Turnover represents the value of rental income invoiced and received during the year. |
PEARLAND POWER CONTRACTING LIMITED (REGISTERED NUMBER: 00857839) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2024 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
The company enters into basic financial instrument transactions, as appropriate and as when required, that result in the recognition of financial assets and liabilities within the financial statements such as trade and other accounts receivable and payable, bank loans and hire purchase and lease contracts. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Freehold | Plant and |
Totals | property | machinery |
£ | £ | £ |
COST OR VALUATION |
At 1 August 2023 |
Additions |
At 31 July 2024 |
DEPRECIATION |
At 1 August 2023 |
Charge for year |
At 31 July 2024 |
NET BOOK VALUE |
At 31 July 2024 |
At 31 July 2023 |
PEARLAND POWER CONTRACTING LIMITED (REGISTERED NUMBER: 00857839) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2024 |
4. | TANGIBLE FIXED ASSETS - continued |
Tools and | Motor | Computer |
equipment | vehicles | equipment |
£ | £ | £ |
COST OR VALUATION |
At 1 August 2023 |
Additions |
At 31 July 2024 |
DEPRECIATION |
At 1 August 2023 |
Charge for year |
At 31 July 2024 |
NET BOOK VALUE |
At 31 July 2024 |
At 31 July 2023 |
Cost or valuation at 31 July 2024 is represented by: |
Freehold | Plant and |
Totals | property | machinery |
£ | £ | £ |
Valuation in 2017 | 105,645 | 105,645 | - |
Valuation in 2020 | 10,000 | 10,000 | - |
Valuation in 2021 | 30,000 | 30,000 | - |
Valuation in 2023 | 25,000 | 25,000 | - |
Cost | 20,789 | 9,725 | 3,704 |
191,434 | 180,370 | 3,704 |
Tools and | Motor | Computer |
equipment | vehicles | equipment |
£ | £ | £ |
Cost | 760 | 6,000 | 600 |
760 | 6,000 | 600 |
Freehold property was valued on an open market basis on 31 July 2024 by the director . |
PEARLAND POWER CONTRACTING LIMITED (REGISTERED NUMBER: 00857839) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2024 |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.24 | 31.7.23 |
£ | £ |
Taxation and social security |
Other creditors |
6. | RESERVES |
Revaluation |
reserve |
£ |
At 1 August 2023 |
and 31 July 2024 |
Included within reserves is a revaluation reserve, which has been created through the process of revaluing the freehold property to its open market value each year. The reserve is also adjusted each year for any deferred tax movements. |
In accordance with FRS102, this reserve is a 'non-distributable reserve, and is separately disclosed on the balance sheet. |