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Registered number: 09854276










PHASED IN CABLE JOINTING SPECIALISTS LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 OCTOBER 2024

 
PHASED IN CABLE JOINTING SPECIALISTS LTD
 

CONTENTS



Page
Accountants' report
 
 
1
Balance sheet
 
 
2 - 3
Notes to the financial statements
 
 
4 - 8

 
PHASED IN CABLE JOINTING SPECIALISTS LTD
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF PHASED IN CABLE JOINTING SPECIALISTS LTD
FOR THE YEAR ENDED 31 OCTOBER 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Phased In Cable Jointing Specialists Ltd for the year ended 31 October 2024 which comprise  the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of Phased In Cable Jointing Specialists Ltd, as a body, in accordance with the terms of our engagement letter dated 02 September 2021Our work has been undertaken solely to prepare for your approval the financial statements of Phased In Cable Jointing Specialists Ltd and state those matters that we have agreed to state to the Board of directors of Phased In Cable Jointing Specialists Ltd, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Phased In Cable Jointing Specialists Ltd and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that Phased In Cable Jointing Specialists Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Phased In Cable Jointing Specialists Ltd. You consider that Phased In Cable Jointing Specialists Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Phased In Cable Jointing Specialists Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



MA Partners LLP
 
Chartered Accountants
  
7 The Close
Norwich
Norfolk
NR1 4DJ
26 June 2025
Page 1

 
PHASED IN CABLE JOINTING SPECIALISTS LTD
REGISTERED NUMBER: 09854276

BALANCE SHEET
AS AT 31 OCTOBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
41,180
19,266

  
41,180
19,266

Current assets
  

Debtors: amounts falling due within one year
 5 
41,107
52,587

Cash at bank and in hand
  
197,181
216,754

  
238,288
269,341

Creditors: amounts falling due within one year
 6 
(75,546)
(120,456)

Net current assets
  
 
 
162,742
 
 
148,885

Total assets less current liabilities
  
203,922
168,151

Creditors: amounts falling due after more than one year
 7 
(5,989)
(11,830)

Provisions for liabilities
  

Deferred tax
  
(8,945)
(4,728)

  
 
 
(8,945)
 
 
(4,728)

Net assets
  
188,988
151,593


Capital and reserves
  

Called up share capital 
 8 
2
2

Profit and loss account
  
188,986
151,591

  
188,988
151,593


Page 2

 
PHASED IN CABLE JOINTING SPECIALISTS LTD
REGISTERED NUMBER: 09854276
    
BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 26 June 2025.




................................................
Mr J Holmes
................................................
Mrs J Critoph
Director
Director

The notes on pages 4 to 8 form part of these financial statements.

Page 3

 
PHASED IN CABLE JOINTING SPECIALISTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

1.


General information

The Company is a private company incorporated in the United Kingdom and limited by shares. It is registered in England and Wales. The address of its registered office is 7 The Close, Norwich, Norfolk, NR1 4DJ. The principal place of business if Badersfield, Norfolk
The company's principal activity is that of electrical cable installation.  

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover comprises revenue recognised by the company in respect of electrical cable installation. 
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured and on an accruals basis. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 

 
2.3

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date. 
Current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date. 

Page 4

 
PHASED IN CABLE JOINTING SPECIALISTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the following basis:.


Plant and machinery
-
25%
Straight Line
Motor vehicles
-
25%
Reducing Balance
Office equipment
-
25%
Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

  
2.9

Financial Instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at the present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 5

 
PHASED IN CABLE JOINTING SPECIALISTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 November 2023
7,242
41,298
2,313
50,853


Additions
2,025
42,515
-
44,540


Disposals
-
(19,578)
-
(19,578)



At 31 October 2024

9,267
64,235
2,313
75,815



Depreciation


At 1 November 2023
5,555
23,875
2,156
31,586


Charge for the year on owned assets
1,395
10,629
52
12,076


Charge for the year on financed assets
-
2,291
-
2,291


Disposals
-
(11,318)
-
(11,318)



At 31 October 2024

6,950
25,477
2,208
34,635



Net book value



At 31 October 2024
2,317
38,758
105
41,180



At 31 October 2023
1,687
17,422
157
19,266

Page 6

 
PHASED IN CABLE JOINTING SPECIALISTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

5.


Debtors

2024
2023
£
£


Trade debtors
29,405
48,740

Other debtors
9,438
2,015

Prepayments and accrued income
2,264
1,832

41,107
52,587



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
5,840
5,692

Trade creditors
65
98

Other taxation and social security
17,030
42,650

Obligations under finance lease and hire purchase contracts
-
1,666

Other creditors
49,632
68,210

Accruals and deferred income
2,979
2,140

75,546
120,456


The hire purchase liability is secured against the asset to which it relates.


7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
5,989
11,830

5,989
11,830




Page 7

 
PHASED IN CABLE JOINTING SPECIALISTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1 Ordinary share of £1.00
1
1
1 Ordinary A share of £1.00
1
1

2

2



9.Financial commitments

The company had total financial commitments, guarantees and contingencies which are not included in the balance sheet amounting to £5,807 (2023: £nil).


10.


Related party transactions

As at 31 October 2024, the company owed £47,788 (2023 - £66,066) to the directors. The loan is included within other creditors due within one year in note 6 to the financial statements. The loan is repayable on demand. No interest has been charged.

 
Page 8