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REGISTERED NUMBER: 05087991 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29TH FEBRUARY 2024

FOR

POWER HYGIENE AND SAFETY PRODUCTS LTD

POWER HYGIENE AND SAFETY PRODUCTS LTD (REGISTERED NUMBER: 05087991)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 29th February 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


POWER HYGIENE AND SAFETY PRODUCTS LTD

COMPANY INFORMATION
for the year ended 29th February 2024







DIRECTORS: D R C Woods
P C Woods





SECRETARY: D R C Woods





REGISTERED OFFICE: 25 Totman Crescent
Brook Road Industrial Estate
Rayleigh
Essex
SS6 7UY





REGISTERED NUMBER: 05087991 (England and Wales)





ACCOUNTANTS: Chegwidden & Co
Chartered Accountants
Priestley House
Priestley Gardens
Chadwell Heath
Essex
RM6 4SN

POWER HYGIENE AND SAFETY PRODUCTS LTD (REGISTERED NUMBER: 05087991)

ABRIDGED BALANCE SHEET
29th February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 103,238 110,409
Tangible assets 5 137,960 163,198
241,198 273,607

CURRENT ASSETS
Stocks 396,753 479,928
Debtors 590,158 461,993
Cash at bank and in hand 356,982 359,288
1,343,893 1,301,209
CREDITORS
Amounts falling due within one year 830,568 816,495
NET CURRENT ASSETS 513,325 484,714
TOTAL ASSETS LESS CURRENT
LIABILITIES

754,523

758,321

CREDITORS
Amounts falling due after more than one year 6 42,505 57,278
NET ASSETS 712,018 701,043

CAPITAL AND RESERVES
Called up share capital 3,004 3,004
Retained earnings 7 709,014 698,039
SHAREHOLDERS' FUNDS 712,018 701,043

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29th February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29th February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

POWER HYGIENE AND SAFETY PRODUCTS LTD (REGISTERED NUMBER: 05087991)

ABRIDGED BALANCE SHEET - continued
29th February 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 29th February 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10th February 2025 and were signed on its behalf by:




D R C Woods - Director



P C Woods - Director


POWER HYGIENE AND SAFETY PRODUCTS LTD (REGISTERED NUMBER: 05087991)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 29th February 2024

1. STATUTORY INFORMATION

Power Hygiene and Safety Products Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Sale of goods - Turnover from the sale of goods is recognised at the point of sale.

Rendering of services - When providing day services, turnover is usually recognised on completion of the service and, for monthly engagements, it is recognised by reference to the stage of completion at the balance sheet date.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2022, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended by management.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc - 33% on cost and 15% on reducing balance
Motor Vehicles - 25% on reducing balance
Improvements to property - 20% on cost

Stocks
Stocks are stated at the lower of cost and estimated selling prices less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provisions are made for any damaged, obsolete and slow-moving stock where appropriate.


POWER HYGIENE AND SAFETY PRODUCTS LTD (REGISTERED NUMBER: 05087991)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 29th February 2024

2. ACCOUNTING POLICIES - continued
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.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
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 the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying value. Where the carrying value exceeds the assets recoverable value, an impairment loss is recognised in the profit and loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2023 - 15 ) .

POWER HYGIENE AND SAFETY PRODUCTS LTD (REGISTERED NUMBER: 05087991)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 29th February 2024

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st March 2023 143,230
Additions 7,105
At 29th February 2024 150,335
AMORTISATION
At 1st March 2023 32,821
Amortisation for year 14,276
At 29th February 2024 47,097
NET BOOK VALUE

At 29th February 2024 103,238
At 28th February 2023 110,409

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st March 2023 312,324
Additions 27,950
Disposals (10,000 )
At 29th February 2024 330,274
DEPRECIATION
At 1st March 2023 149,126
Charge for year 46,001
Eliminated on disposal (2,813 )
At 29th February 2024 192,314
NET BOOK VALUE
At 29th February 2024 137,960
At 28th February 2023 163,198

POWER HYGIENE AND SAFETY PRODUCTS LTD (REGISTERED NUMBER: 05087991)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 29th February 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1st March 2023
and 29th February 2024 39,277
DEPRECIATION
At 1st March 2023 9,001
Charge for year 7,570
At 29th February 2024 16,571
NET BOOK VALUE
At 29th February 2024 22,706
At 28th February 2023 30,276

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
2024 2023
£    £   
Repayable by instalments
Bank loans more 5 yr by instal 7,998 14,306

7. RESERVES
Retained
earnings
£   

At 1st March 2023 698,039
Profit for the year 210,975
Dividends (200,000 )
At 29th February 2024 709,014

POWER HYGIENE AND SAFETY PRODUCTS LTD (REGISTERED NUMBER: 05087991)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 29th February 2024

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 29th February 2024 and 28th February 2023:

2024 2023
£    £   
D R C Woods
Balance outstanding at start of year 17,076 (226 )
Amounts advanced 142,219 90,302
Amounts repaid (100,000 ) (73,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 59,295 17,076

P C Woods
Balance outstanding at start of year 9,091 (685 )
Amounts advanced 98,625 82,776
Amounts repaid (100,000 ) (73,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 7,716 9,091

The loans are interest free and repayable on demand.