Company Registration No. 3701161 (England and Wales)
Excel Power Construction Ltd
Unaudited accounts
for the year ended 31 January 2021
Excel Power Construction Ltd
Unaudited accounts
Contents
Excel Power Construction Ltd
Company Information
for the year ended 31 January 2021
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 2021
Intangible assets
-
267,522
Tangible assets
1,080,017
1,078,039
Inventories
569,568
187,496
Cash at bank and in hand
115,882
80,472
Creditors: amounts falling due within one year
(822,204)
(775,261)
Net current liabilities
(79,644)
(459,556)
Total assets less current liabilities
1,000,373
1,003,005
Creditors: amounts falling due after more than one year
(591,061)
(541,503)
Provisions for liabilities
Deferred tax
(35,612)
(35,612)
Other provisions
-
(4,000)
Net assets
373,700
421,890
Called up share capital
105
105
Profit and loss account
373,595
421,785
Shareholders' funds
373,700
421,890
Excel Power Construction Ltd
Statement of financial position
as at
31 January 2021
(continued)
For the year ending 31 January 2021 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 25 October 2021 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 2021
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 2021
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
Other
Total
At 1 February 2020
14,000
267,522
281,522
At 31 January 2021
14,000
267,522
281,522
At 1 February 2020
14,000
-
14,000
Other increase/(decrease)
-
267,522
267,522
At 31 January 2021
14,000
267,522
281,522
At 31 January 2020
-
267,522
267,522
In the year was the development costs on the desalination machinery has been fully amortised.
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 2020
767,973
294,510
189,322
27,702
5,329
1,284,836
Additions
-
45,731
37,595
-
8,415
91,741
At 31 January 2021
767,973
340,241
226,917
27,702
13,744
1,376,577
At 1 February 2020
9,949
80,881
104,981
10,228
758
206,797
Charge for the year
15,361
42,006
25,882
4,080
2,434
89,763
At 31 January 2021
25,310
122,887
130,863
14,308
3,192
296,560
At 31 January 2021
742,663
217,354
96,054
13,394
10,552
1,080,017
At 31 January 2020
758,024
213,629
84,341
17,474
4,571
1,078,039
Excel Power Construction Ltd
Notes to the Accounts
for the year ended 31 January 2021
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Plant & machinery
38,003
53,588
- Motor vehicles
47,824
33,202
6
Investments
Other investments
Valuation at 1 February 2020
117,000
Fair value adjustments
(117,000)
Valuation at 31 January 2021
-
During the year the directors considered that the investment in Elysian Fuels was of no value.
7
Debtors: amounts falling due within one year
2021
2020
Trade debtors
19,452
25,812
Debtors: amounts falling due after more than one year
8
Creditors: amounts falling due within one year
2021
2020
Bank loans and overdrafts
35,129
40,193
Obligations under finance leases and hire purchase contracts
46,541
46,191
Trade creditors
524,537
487,967
Taxes and social security
105,244
72,570
Other creditors
3,137
21,024
Loans from directors
104,316
104,316
9
Creditors: amounts falling due after more than one year
2021
2020
Bank loans
551,775
500,904
Obligations under finance leases and hire purchase contracts
39,286
40,599
Aggregate of amounts that fall due for payment after five years
370,969
383,570
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 2021
10
Average number of employees
During the year the average number of employees was 23 (2020: 21).