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REGISTERED NUMBER: 04346374 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2022

FOR

PR ELECTRICAL INSTALLATIONS LIMITED

PR ELECTRICAL INSTALLATIONS LIMITED (REGISTERED NUMBER: 04346374)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2022










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PR ELECTRICAL INSTALLATIONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2022







DIRECTORS: P S Ruddock
Mrs J E Ruddock





SECRETARY: Mrs J E Ruddock





REGISTERED OFFICE: 29 Gildredge Road
Eastbourne
East Sussex
BN21 4RU





REGISTERED NUMBER: 04346374 (England and Wales)





ACCOUNTANTS: Advanta
Chartered Accountants
29 Gildredge Road
Eastbourne
East Sussex
BN21 4RU

PR ELECTRICAL INSTALLATIONS LIMITED (REGISTERED NUMBER: 04346374)

BALANCE SHEET
31 JANUARY 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 616 908

CURRENT ASSETS
Stocks 5 21,000 9,500
Debtors 6 8,806 3,646
Cash at bank and in hand 32,667 47,722
62,473 60,868
CREDITORS
Amounts falling due within one year 7 29,596 18,831
NET CURRENT ASSETS 32,877 42,037
TOTAL ASSETS LESS CURRENT LIABILITIES 33,493 42,945

CREDITORS
Amounts falling due after more than one year 8 (20,247 ) (19,924 )

PROVISIONS FOR LIABILITIES 10 (117 ) (173 )
NET ASSETS 13,129 22,848

CAPITAL AND RESERVES
Called up share capital 101 101
Retained earnings 13,028 22,747
SHAREHOLDERS' FUNDS 13,129 22,848

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

PR ELECTRICAL INSTALLATIONS LIMITED (REGISTERED NUMBER: 04346374)

BALANCE SHEET - continued
31 JANUARY 2022


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 July 2022 and were signed on its behalf by:





Mrs J E Ruddock - Director


PR ELECTRICAL INSTALLATIONS LIMITED (REGISTERED NUMBER: 04346374)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2022


1. STATUTORY INFORMATION

PR Electrical Installations is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant & machinery - 25% on reducing balance
Furniture,fittings & equipment - 25% on reducing balance
Computer equipment - Straight line over 3 years

Government grants
Grants are accounted for under the accruals method. Grants of a revenue nature are recognised in "other income" within the profit or loss in the same period as the related expenditure.

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

PR ELECTRICAL INSTALLATIONS LIMITED (REGISTERED NUMBER: 04346374)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2022


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2021 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant & Furniture,fittings Computer
machinery & equipment equipment Totals
£    £    £    £   
COST
At 1 February 2021
and 31 January 2022 1,130 845 7,403 9,378
DEPRECIATION
At 1 February 2021 501 826 7,143 8,470
Charge for year 157 5 130 292
At 31 January 2022 658 831 7,273 8,762
NET BOOK VALUE
At 31 January 2022 472 14 130 616
At 31 January 2021 629 19 260 908

5. STOCKS
2022 2021
£    £   
Stocks 1,000 2,000
Work-in-progress 20,000 7,500
21,000 9,500

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 7,326 1,992
PAYE - 136
VAT 499 -
Prepayments 981 1,518
8,806 3,646

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 4,753 5,076
Trade creditors 12,585 3,168
Tax 3,950 3,322
VAT - 280
Other creditors 6,431 5,445
Directors' current accounts 533 196
Accrued expenses 1,344 1,344
29,596 18,831

PR ELECTRICAL INSTALLATIONS LIMITED (REGISTERED NUMBER: 04346374)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2022


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022 2021
£    £   
Bank loans - 1-2 years 4,874 5,205
Bank loans - 2-5 years 15,373 14,719
20,247 19,924

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2022 2021
£    £   
Within one year 3,528 3,528
Between one and five years - 3,528
3,528 7,056

10. PROVISIONS FOR LIABILITIES
2022 2021
£    £   
Deferred tax 117 173

Deferred
tax
£   
Balance at 1 February 2021 173
Provided during year (56 )
Balance at 31 January 2022 117