Company Registration No. 03135186 (England and Wales)
Phoenix Electrical Engineering Services limited
Unaudited accounts
for the year ended 31 December 2020
Phoenix Electrical Engineering Services limited
Unaudited accounts
Contents
Phoenix Electrical Engineering Services limited
Company Information
for the year ended 31 December 2020
Directors
K Trewern
T Trewern
K Trewern
R Trewern
Company Number
03135186 (England and Wales)
Registered Office
Phoenix House
Scarne Mill Industrial Estate
Launceston
Cornwall
PL15 9GL
Accountants
The Fresh Accountancy Company Limited
Orchard House
Clyst St Mary
Exeter
Devon
EX5 1BR
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Phoenix Electrical Engineering Services limited for the year ended 31 December 2020
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Phoenix Electrical Engineering Services limited for the year ended
31 December 2020 as set out on pages
5 -
7 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 icaew.com/membershandbook.
Our work has been undertaken in accordance with AAF 7/16 as detailed at icaew.com/compilation.
The Fresh Accountancy Company Limited
Chartered Accountants
Orchard House
Clyst St Mary
Exeter
Devon
EX5 1BR
19 July 2021
Phoenix Electrical Engineering Services limited
Statement of financial position
as at
31 December 2020
Tangible assets
59,140
59,048
Inventories
10,000
65,000
Cash at bank and in hand
256,464
112,689
Creditors: amounts falling due within one year
(209,965)
(229,861)
Net current assets
269,831
233,236
Total assets less current liabilities
328,971
292,284
Creditors: amounts falling due after more than one year
(223,155)
(243,405)
Net assets
105,816
48,879
Called up share capital
15
15
Profit and loss account
105,801
48,864
Shareholders' funds
105,816
48,879
For the year ending 31 December 2020 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 21 July 2021 and were signed on its behalf by
K Trewern
Director
Company Registration No. 03135186
Phoenix Electrical Engineering Services limited
Notes to the Accounts
for the year ended 31 December 2020
Phoenix Electrical Engineering Services limited is a private company, limited by shares, registered in England and Wales, registration number 03135186. The registered office is Phoenix House, Scarne Mill Industrial Estate, Launceston, Cornwall, PL15 9GL.
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.
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:
Plant & machinery
25% Reducing balance
4
Tangible fixed assets
Plant & machinery
Cost or valuation
At cost
At 1 January 2020
203,003
At 31 December 2020
197,721
At 1 January 2020
143,955
Charge for the year
18,755
At 31 December 2020
138,581
At 31 December 2020
59,140
At 31 December 2019
59,048
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Plant & machinery
50,896
48,058
Phoenix Electrical Engineering Services limited
Notes to the Accounts
for the year ended 31 December 2020
5
Debtors: amounts falling due within one year
2020
2019
Trade debtors
178,156
107,908
Accrued income and prepayments
35,176
177,000
6
Creditors: amounts falling due within one year
2020
2019
Bank loans and overdrafts
45,455
57,714
Obligations under finance leases and hire purchase contracts
4,714
21,003
Trade creditors
38,141
104,604
Amounts owed to group undertakings and other participating interests
3,038
13,663
Taxes and social security
118,617
32,877
Guarantees over the assets of directors have been given in respect of the companies borrowings.
7
Creditors: amounts falling due after more than one year
2020
2019
Bank loans
196,970
243,405
Obligations under finance leases and hire purchase contracts
26,185
-
8
Operating lease commitments
2020
2019
At 31 December 2020 the company has total minimum future payment commitments under non-cancellable operating leases as follows:
Operating leases expiring:
Within two to five years
-
60,000
9
Transactions with related parties
The company paid rent and management charges to K&T Holdings Limited for £82,700 (2019 - £209,007) a company which is controlled by the directors.
10
Average number of employees
During the year the average number of employees was 10 (2019: 11).