Registered number
10910948
PHG Mechanical Services Ltd
Filleted Accounts
31 August 2024
PHG Mechanical Services Ltd
Registered number: 10910948
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 81,309 77,447
Current assets
Debtors 4 242,287 227,371
Cash at bank and in hand 178,243 144,545
420,530 371,916
Creditors: amounts falling due within one year 5 (108,265) (84,374)
Net current assets 312,265 287,542
Total assets less current liabilities 393,574 364,989
Creditors: amounts falling due after more than one year 6 (86,363) (89,145)
Net assets 307,211 275,844
Capital and reserves
Called up share capital 100 100
Profit and loss account 307,111 275,744
Shareholders' funds 307,211 275,844
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 2025
PHG Mechanical Services Ltd
Notes to the Accounts
for the year ended 31 August 2024
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 2024 2023
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 2023 5,689 151,715 157,404
Additions 1,842 29,122 30,964
At 31 August 2024 7,531 180,837 188,368
Depreciation
At 1 September 2023 2,321 77,636 79,957
Charge for the year 1,302 25,800 27,102
At 31 August 2024 3,623 103,436 107,059
Net book value
At 31 August 2024 3,908 77,401 81,309
At 31 August 2023 3,368 74,079 77,447
4 Debtors 2024 2023
£ £
Trade debtors 152,338 177,361
Other debtors 89,949 50,010
242,287 227,371
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,000 10,000
Obligations under finance lease and hire purchase contracts 21,344 15,535
Trade creditors 10,474 33,921
Taxation and social security costs 22,429 -
Other creditors 44,018 24,918
108,265 84,374
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 9,057 19,057
Obligations under finance lease and hire purchase contracts 77,306 70,088
86,363 89,145
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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