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Company registration number: 05133815
PJC Electrical Services South East Ltd
Trading as PJC Electrical Services South East Ltd
Unaudited filleted financial statements
31 May 2024
PJC Electrical Services South East Ltd
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
PJC Electrical Services South East Ltd
Directors and other information
Directors Mr Philip Courtman
Company number 05133815
Registered office 64 Overstone Road
Harpenden
AL5 5PJ
Business address 64 Overstone Road
Harpenden
AL5 5PJ
Accountants Hicks & Company
Chartered Accountant
83 High Street
Hemel Hempstead
Herts
HP1 3AH
PJC Electrical Services South East Ltd
Statement of financial position
31 May 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 1,295 2,787
_______ _______
1,295 2,787
Current assets
Debtors 6 8,448 12,681
Cash at bank and in hand 12,010 16,492
_______ _______
20,458 29,173
Creditors: amounts falling due
within one year 7 ( 4,429) ( 7,064)
_______ _______
Net current assets 16,029 22,109
_______ _______
Total assets less current liabilities 17,324 24,896
_______ _______
Net assets 17,324 24,896
_______ _______
Capital and reserves
Called up share capital 2 2
Profit and loss account 17,322 24,894
_______ _______
Shareholders funds 17,324 24,896
_______ _______
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- 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;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 07 February 2025 , and are signed on behalf of the board by:
Mr Philip Courtman
Director
Company registration number: 05133815
PJC Electrical Services South East Ltd
Notes to the financial statements
Year ended 31 May 2024
1. General information
The company is a private company limited by shares, registered in United Kingdom. The address of the registered office is 64 Overstone Road, Harpenden, AL5 5PJ.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 25 % straight line
Motor vehicles - 25 % straight line
Computer Equipment - 33 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Tangible assets
Plant and machinery Fixtures, fittings and equipment Motor vehicles Computer Equipment Total
£ £ £ £ £
Cost
At 1 June 2023 1,279 3,022 21,914 1,901 28,116
Disposals - ( 2,259) - ( 1,285) ( 3,544)
_______ _______ _______ _______ _______
At 31 May 2024 1,279 763 21,914 616 24,572
_______ _______ _______ _______ _______
Depreciation
At 1 June 2023 1,279 2,832 19,316 1,902 25,329
Charge for the year - 144 1,348 - 1,492
Disposals - ( 2,259) - ( 1,285) ( 3,544)
_______ _______ _______ _______ _______
At 31 May 2024 1,279 717 20,664 617 23,277
_______ _______ _______ _______ _______
Carrying amount
At 31 May 2024 - 46 1,250 ( 1) 1,295
_______ _______ _______ _______ _______
At 31 May 2023 - 190 2,598 ( 1) 2,787
_______ _______ _______ _______ _______
6. Debtors
2024 2023
£ £
Trade debtors 6,340 12,046
Other debtors 2,108 635
_______ _______
8,448 12,681
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 1,609 150
Corporation tax 1,110 3,541
Social security and other taxes 870 2,553
Other creditors 840 820
_______ _______
4,429 7,064
_______ _______
8. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr Philip Courtman 635 1,473 2,108
_______ _______ _______
2023
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr Philip Courtman ( 5,831) 6,466 635
_______ _______ _______