30/04/2018
2018-04-30
false
false
false
false
false
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false
false
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true
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true
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false
false
No description of principal activities is disclosed
2017-05-01
Sage Accounts Production 18.11 - FRS
xbrli:pure
xbrli:shares
iso4217:GBP
03167241
2017-05-01
2018-04-30
03167241
2018-04-30
03167241
2017-04-30
03167241
2016-05-01
2017-04-30
03167241
2017-04-30
03167241
2016-04-30
03167241
core:LandBuildings
core:ShortLeaseholdAssets
2017-05-01
2018-04-30
03167241
core:FurnitureFittingsToolsEquipment
2017-05-01
2018-04-30
03167241
core:MotorVehicles
2017-05-01
2018-04-30
03167241
bus:RegisteredOffice
2017-05-01
2018-04-30
03167241
bus:OrdinaryShareClass1
2017-05-01
2018-04-30
03167241
bus:LeadAgentIfApplicable
2017-05-01
2018-04-30
03167241
bus:Director1
2017-05-01
2018-04-30
03167241
bus:Director2
2017-05-01
2018-04-30
03167241
bus:Director3
2017-05-01
2018-04-30
03167241
bus:CompanySecretary1
2017-05-01
2018-04-30
03167241
core:NetGoodwill
2018-04-30
03167241
core:LandBuildings
core:ShortLeaseholdAssets
2017-04-30
03167241
core:FurnitureFittingsToolsEquipment
2017-04-30
03167241
core:MotorVehicles
2017-04-30
03167241
core:LandBuildings
core:ShortLeaseholdAssets
2018-04-30
03167241
core:FurnitureFittingsToolsEquipment
2018-04-30
03167241
core:MotorVehicles
2018-04-30
03167241
core:WithinOneYear
2018-04-30
03167241
core:WithinOneYear
2017-04-30
03167241
core:AfterOneYear
2018-04-30
03167241
core:AfterOneYear
2017-04-30
03167241
core:ShareCapital
2018-04-30
03167241
core:ShareCapital
2017-04-30
03167241
core:RetainedEarningsAccumulatedLosses
2018-04-30
03167241
core:RetainedEarningsAccumulatedLosses
2017-04-30
03167241
bus:OrdinaryShareClass1
core:ShareCapital
2018-04-30
03167241
bus:OrdinaryShareClass1
core:ShareCapital
2017-04-30
03167241
core:NetGoodwill
2017-04-30
03167241
core:LandBuildings
core:ShortLeaseholdAssets
2017-04-30
03167241
core:FurnitureFittingsToolsEquipment
2017-04-30
03167241
core:MotorVehicles
2017-04-30
03167241
bus:Director1
2017-04-30
03167241
bus:Director1
2018-04-30
03167241
bus:Director2
2017-04-30
03167241
bus:Director2
2018-04-30
03167241
bus:Director1
2016-04-30
03167241
bus:Director1
2017-04-30
03167241
bus:Director2
2016-04-30
03167241
bus:Director2
2017-04-30
03167241
bus:Director2
2016-05-01
2017-04-30
03167241
bus:SmallEntities
2017-05-01
2018-04-30
03167241
bus:AuditExemptWithAccountantsReport
2017-05-01
2018-04-30
03167241
bus:FullAccounts
2017-05-01
2018-04-30
03167241
bus:SmallCompaniesRegimeForAccounts
2017-05-01
2018-04-30
03167241
bus:PrivateLimitedCompanyLtd
2017-05-01
2018-04-30
03167241
core:KeyManagementPersonnel
2017-05-01
2018-04-30
Company registration number:
03167241
P J G Electrical Limited
Unaudited filleted financial statements
30 April 2018
P J G Electrical Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
P J G Electrical Limited
Directors and other information
|
|
|
|
Directors
|
PJ George
|
|
|
JE George
|
|
|
HN George
|
|
|
|
|
|
|
|
Secretary
|
K George
|
|
|
|
|
|
|
|
Company number
|
03167241
|
|
|
|
|
|
|
|
Registered office
|
9 High Street
|
|
|
Stony Stratford
|
|
|
Milton Keynes
|
|
|
MK11 1AA
|
|
|
|
|
|
|
|
Business address
|
The Old Fire Station
|
|
|
14 Silver Street
|
|
|
Stony Stratford
|
|
|
Milton Keynes
|
|
|
MK11 1JR
|
|
|
|
|
|
|
|
Accountants
|
Clifford Towers
|
|
|
9 High Street
|
|
|
Stony Stratford
|
|
|
Milton Keynes
|
|
|
MK11 1AA
|
|
|
|
P J G Electrical Limited
Statement of financial position
30 April 2018
|
|
|
2018
|
|
|
|
2017
|
|
|
|
|
Note
|
£
|
|
£
|
|
£
|
|
£
|
|
|
|
|
|
|
|
|
|
|
Fixed assets
|
|
|
|
|
|
|
|
|
|
Intangible assets
|
|
5
|
-
|
|
|
|
-
|
|
|
Tangible assets
|
|
6
|
46,662
|
|
|
|
61,904
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
|
|
46,662
|
|
|
|
61,904
|
|
|
|
|
|
|
|
|
|
|
Current assets
|
|
|
|
|
|
|
|
|
|
Stocks
|
|
|
39,264
|
|
|
|
41,775
|
|
|
Debtors
|
|
7
|
319,635
|
|
|
|
158,186
|
|
|
Cash at bank and in hand
|
|
|
7,246
|
|
|
|
13,100
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
366,145
|
|
|
|
213,061
|
|
|
Creditors: amounts falling due
|
|
|
|
|
|
|
|
|
|
within one year
|
|
8
|
(
280,325)
|
|
|
|
(
122,834)
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
Net current assets
|
|
|
|
|
85,820
|
|
|
|
90,227
|
|
|
|
|
|
_______
|
|
|
|
_______
|
Total assets less current liabilities
|
|
|
|
|
132,482
|
|
|
|
152,131
|
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due
|
|
|
|
|
|
|
|
|
|
after more than one year
|
|
9
|
|
|
(
17,630)
|
|
|
|
(
34,929)
|
|
|
|
|
|
_______
|
|
|
|
_______
|
Net assets
|
|
|
|
|
114,852
|
|
|
|
117,202
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
|
|
|
|
|
Capital and reserves
|
|
|
|
|
|
|
|
|
|
Called up share capital
|
|
10
|
|
|
50,400
|
|
|
|
50,400
|
Profit and loss account
|
|
|
|
|
64,452
|
|
|
|
66,802
|
|
|
|
|
|
_______
|
|
|
|
_______
|
Shareholders funds
|
|
|
|
|
114,852
|
|
|
|
117,202
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
|
|
|
|
|
For the year ending 30 April 2018 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 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
09 July 2018
, and are signed on behalf of the board by:
PJ George
Director
Company registration number:
03167241
P J G Electrical Limited
Notes to the financial statements
Year ended 30 April 2018
1.
General information
The company is a private company limited by shares, registered in England. The address of the registered office is 9 High Street, Stony Stratford, Milton Keynes, MK11 1AA.
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.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
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:
|
|
|
|
|
|
Short leasehold property
|
-
|
10 %
|
straight line
|
|
Fittings fixtures and equipment
|
-
|
15 %
|
reducing balance
|
|
Motor vehicles
|
-
|
25 %
|
reducing balance
|
|
|
|
|
|
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
.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the company 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. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4.
Staff costs
The average number of persons employed by the company during the year amounted to
13
(2017:
11
).
5.
Intangible assets
|
|
Goodwill
|
Total
|
|
|
|
|
|
|
£
|
£
|
|
|
|
|
|
Cost
|
|
|
|
|
|
|
|
At 1 May 2017 and 30 April 2018
|
10,000
|
10,000
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
Amortisation
|
|
|
|
|
|
|
|
At 1 May 2017 and 30 April 2018
|
10,000
|
10,000
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
Carrying amount
|
|
|
|
|
|
|
|
At 30 April 2018
|
-
|
-
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
At 30 April 2017
|
-
|
-
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
|
|
|
|
|
|
|
6.
Tangible assets
|
|
Short leasehold property
|
Fixtures, fittings and equipment
|
Motor vehicles
|
Total
|
|
|
|
|
|
£
|
£
|
£
|
£
|
|
|
|
|
Cost
|
|
|
|
|
|
|
|
|
At 1 May 2017 and 30 April 2018
|
1,419
|
4,186
|
101,290
|
106,895
|
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
|
|
|
|
Depreciation
|
|
|
|
|
|
|
|
|
At 1 May 2017
|
1,418
|
1,826
|
41,747
|
44,991
|
|
|
|
|
Charge for the year
|
-
|
354
|
14,888
|
15,242
|
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
|
|
|
|
At 30 April 2018
|
1,418
|
2,180
|
56,635
|
60,233
|
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
|
|
|
|
Carrying amount
|
|
|
|
|
|
|
|
|
At 30 April 2018
|
1
|
2,006
|
44,655
|
46,662
|
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
|
|
|
|
At 30 April 2017
|
1
|
2,360
|
59,543
|
61,904
|
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
|
|
|
|
|
|
|
|
|
|
|
|
7.
Debtors
|
|
|
2018
|
2017
|
|
|
|
£
|
£
|
|
Trade debtors
|
|
312,498
|
150,157
|
|
Other debtors
|
|
7,137
|
8,029
|
|
|
|
_______
|
_______
|
|
|
|
319,635
|
158,186
|
|
|
|
_______
|
_______
|
|
|
|
|
|
8.
Creditors: amounts falling due within one year
|
|
|
2018
|
2017
|
|
|
|
£
|
£
|
|
Trade creditors
|
|
170,388
|
40,473
|
|
Social security and other taxes
|
|
31,803
|
36,906
|
|
Other creditors
|
|
78,134
|
45,455
|
|
|
|
_______
|
_______
|
|
|
|
280,325
|
122,834
|
|
|
|
_______
|
_______
|
|
|
|
|
|
9.
Creditors: amounts falling due after more than one year
|
|
|
2018
|
2017
|
|
|
|
£
|
£
|
|
Other creditors
|
|
17,630
|
34,929
|
|
|
|
_______
|
_______
|
|
|
|
|
|
10.
Called up share capital
Issued, called up and fully paid
|
|
|
2018
|
|
|
|
2017
|
|
|
|
|
|
No
|
|
£
|
|
No
|
|
£
|
|
Ordinary shares
shares of £
1.00 each
|
|
50,400
|
|
50,400
|
|
50,400
|
|
50,400
|
|
|
|
_______
|
|
_______
|
|
_______
|
|
_______
|
|
|
|
|
|
|
|
|
|
|
11.
Directors advances, credits and guarantees
|
During the year the directors entered into the following advances and credits with the company:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2018
|
|
|
|
|
|
|
|
|
|
Balance brought forward
|
Advances /(credits) to the directors
|
Balance o/standing
|
|
|
|
|
|
£
|
£
|
£
|
|
|
|
|
PJ George
|
(
19,522)
|
(
2,190)
|
(
21,712)
|
|
|
|
|
JE George
|
(
659)
|
(
33,692)
|
(
34,351)
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
|
(
20,181)
|
(
35,882)
|
(
56,063)
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
|
|
|
|
|
|
|
2017
|
|
|
|
|
|
|
|
|
|
Balance brought forward
|
Advances /(credits) to the directors
|
Balance o/standing
|
|
|
|
|
|
£
|
£
|
£
|
|
|
|
|
PJ George
|
(
19,522)
|
-
|
(
19,522)
|
|
|
|
|
JE George
|
(
4,674)
|
4,015
|
(
659)
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
|
(
24,196)
|
4,015
|
(
20,181)
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
|
|
|
|
|
|
|
Amounts advanced or credited are interest free and repayable on demand.
12.
Related party transactions
During the year the company entered into the following transactions with related parties:
|
|
Transaction value
|
|
|
|
|
|
2018
|
2017
|
|
|
|
|
£
|
£
|
|
|
|
PJ George
|
6,000
|
6,000
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
|
|
|
The company paid £
6,000
to PJ George
, director and majority shareholder, for office rent.
13.
Controlling party
The company is controlled by
PJ George
, who owns 94.8% of the issued share capital of the company.