Protected Installations Ltd 07966028 false 2023-03-01 2024-02-29 2024-02-29 The principal activity of the company is is that of electrical installations Digita Accounts Production Advanced 6.30.9574.0 true true 07966028 2023-03-01 2024-02-29 07966028 2024-02-29 07966028 core:CurrentFinancialInstruments 2024-02-29 07966028 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-29 07966028 core:FurnitureFittingsToolsEquipment 2024-02-29 07966028 core:MotorVehicles 2024-02-29 07966028 bus:SmallEntities 2023-03-01 2024-02-29 07966028 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 07966028 bus:FullAccounts 2023-03-01 2024-02-29 07966028 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 07966028 bus:RegisteredOffice 2023-03-01 2024-02-29 07966028 bus:Director1 2023-03-01 2024-02-29 07966028 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 07966028 core:FurnitureFittingsToolsEquipment 2023-03-01 2024-02-29 07966028 core:MotorVehicles 2023-03-01 2024-02-29 07966028 core:PlantMachinery 2023-03-01 2024-02-29 07966028 core:Vehicles 2023-03-01 2024-02-29 07966028 countries:England 2023-03-01 2024-02-29 07966028 2023-02-28 07966028 core:FurnitureFittingsToolsEquipment 2023-02-28 07966028 core:MotorVehicles 2023-02-28 07966028 2022-03-01 2023-02-28 07966028 2023-02-28 07966028 core:CurrentFinancialInstruments 2023-02-28 07966028 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 07966028 core:FurnitureFittingsToolsEquipment 2023-02-28 07966028 core:MotorVehicles 2023-02-28 iso4217:GBP xbrli:pure

Registration number: 07966028

Protected Installations Ltd

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 29 February 2024

 

Protected Installations Ltd

(Registration number: 07966028)
Abridged Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

20,490

9,194

Current assets

 

Stocks

6

12,605

10,605

Debtors

94,040

49,133

Cash at bank and in hand

 

17,398

997

 

124,043

60,735

Creditors: Amounts falling due within one year

(152,935)

(82,359)

Net current liabilities

 

(28,892)

(21,624)

Total assets less current liabilities

 

(8,402)

(12,430)

Provisions for liabilities

(655)

(655)

Accruals and deferred income

 

(550)

(3,150)

Net liabilities

 

(9,607)

(16,235)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(9,707)

(16,335)

Shareholders' deficit

 

(9,607)

(16,235)

For the financial year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the director on 12 December 2024
 

 

Protected Installations Ltd

(Registration number: 07966028)
Abridged Balance Sheet as at 29 February 2024

.........................................
Tracey Sandra O'Rourke
Director

 

Protected Installations Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 29 February 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Don Pottery House
Don Pottery Yard
Rowns Lane
Swinton
South Yorkshire

These financial statements were authorised for issue by the director on 12 December 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 abridged 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 abridged 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.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises 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.

 

Protected Installations Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 29 February 2024

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

Plant & machinery

15% reducing balance

Motor vehicles

25% reducing balance

Furniture,fittings & equipment

20% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

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

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Protected Installations Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 29 February 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Protected Installations Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 29 February 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 6 (2023 - 5).

4

Profit/loss before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

8,665

1,428

 

Protected Installations Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 29 February 2024

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 March 2023

19,033

8,232

27,265

Additions

-

19,960

19,960

At 29 February 2024

19,033

28,192

47,225

Depreciation

At 1 March 2023

16,148

1,923

18,071

Charge for the year

914

7,750

8,664

At 29 February 2024

17,062

9,673

26,735

Carrying amount

At 29 February 2024

1,971

18,519

20,490

At 28 February 2023

2,885

6,309

9,194

6

Stocks

2024
£

2023
£

Work in progress

12,000

10,000

Other inventories

605

605

12,605

10,605