Company Registration No. 3701161 (England and Wales)
Excel Power Construction Ltd
Unaudited accounts
for the year ended 31 January 2022
Excel Power Construction Ltd
Unaudited accounts
Contents
Excel Power Construction Ltd
Company Information
for the year ended 31 January 2022
Directors
William Robert James
David Rhys James
Dean Saunders
Craig Richards
Company Number
3701161 (England and Wales)
Registered Office
Unit C
Parc Erin
Tonyrefail
CF39 8WW
Accountants
The Wright Advice Ltd
2 Llanedeyrn Road
Cardiff
CF23 9DX
Excel Power Construction Ltd
Statement of financial position
as at
31 January 2022
Tangible assets
1,189,072
1,080,017
Inventories
510,279
569,568
Cash at bank and in hand
401,265
115,882
Creditors: amounts falling due within one year
(1,524,319)
(822,199)
Net current liabilities
(169,548)
(79,639)
Total assets less current liabilities
1,019,524
1,000,378
Creditors: amounts falling due after more than one year
(579,397)
(591,061)
Provisions for liabilities
Deferred tax
(64,867)
(35,612)
Net assets
375,260
373,705
Called up share capital
110
110
Profit and loss account
375,150
373,595
Shareholders' funds
375,260
373,705
For the year ending 31 January 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 11 October 2022 and were signed on its behalf by
William Robert James
Director
Company Registration No. 3701161
Excel Power Construction Ltd
Notes to the Accounts
for the year ended 31 January 2022
Excel Power Construction Ltd is a private company, limited by shares, registered in England and Wales, registration number 3701161. The registered office is Unit C, Parc Erin, Tonyrefail, CF39 8WW.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 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.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of completion.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
2% straight line
Plant & machinery
15% straight line
Motor vehicles
25% reducing balance
Fixtures & fittings
10% straight line
Computer equipment
33% straight line
Intangible fixed assets consists the development costs to date of desalination machinery which has now been fully amortised. In addition there is purchased goodwill at cost which at the balance sheet date has been fully amortised.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Excel Power Construction Ltd
Notes to the Accounts
for the year ended 31 January 2022
Expenditure on research and development is capitalised to be written off in the future against anticipated relevant income. Consideration is given to costs incurred to date and where prudent wriiten off.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Intangible fixed assets
Goodwill
At 1 February 2021
14,000
At 31 January 2022
14,000
At 1 February 2021
14,000
At 31 January 2022
14,000
5
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At cost
At 1 February 2021
767,973
340,241
226,917
27,702
13,744
1,376,577
Additions
120,000
12,775
67,245
4,766
5,218
210,004
At 31 January 2022
887,973
353,016
294,162
32,468
18,962
1,586,581
At 1 February 2021
25,310
122,887
130,863
14,308
3,192
296,560
Charge for the year
17,761
46,094
26,820
4,382
5,892
100,949
At 31 January 2022
43,071
168,981
157,683
18,690
9,084
397,509
At 31 January 2022
844,902
184,035
136,479
13,778
9,878
1,189,072
At 31 January 2021
742,663
217,354
96,054
13,394
10,552
1,080,017
Excel Power Construction Ltd
Notes to the Accounts
for the year ended 31 January 2022
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Land and buildings
513,944
524,689
- Plant & machinery
94,338
121,441
- Motor vehicles
86,092
129,008
During the year the directors considered that the investment in Elysian Fuels was of no value.
Amounts falling due within one year
Trade debtors
355,779
19,452
Amounts falling due after more than one year
Other debtors
16,162
23,320
8
Creditors: amounts falling due within one year
2022
2021
Bank loans and overdrafts
82,594
35,129
Obligations under finance leases and hire purchase contracts
36,978
46,541
Trade creditors
1,121,997
524,537
Taxes and social security
177,919
105,244
Loans from directors
101,531
104,311
9
Creditors: amounts falling due after more than one year
2022
2021
Bank loans
536,734
551,775
Obligations under finance leases and hire purchase contracts
27,124
39,286
Taxes and social security
15,539
-
Aggregate of amounts that fall due for payment after five years
-
370,969
The company has a mortgage on its freehold property. At the year end the total outstanding was £428,562 (2020 £438,525).
Excel Power Construction Ltd
Notes to the Accounts
for the year ended 31 January 2022
10
Share capital
2022
2021
Allotted, called up and fully paid:
100 A Ordinary shares of £1 each
100
100
5 B Ordinary shares of £1 each
5
5
5 C Ordinary shares of £1 each
5
5
11
Average number of employees
During the year the average number of employees was 44 (2021: 23).