Registered number
10042534
T.P. Electrical Limited
Filleted Accounts
31 March 2023
T.P. Electrical Limited
Registered number: 10042534
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 400 811
Current assets
Debtors 4 23,653 20,414
Cash at bank and in hand 32,496 33,487
56,149 53,901
Creditors: amounts falling due within one year 5 (50,144) (46,181)
Net current assets 6,005 7,720
Total assets less current liabilities 6,405 8,531
Creditors: amounts falling due after more than one year 6 (5,600) (8,000)
Net assets 805 531
Capital and reserves
Called up share capital 100 100
Profit and loss account 705 431
Shareholders' funds 805 531
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
T Powell
Director
Approved by the board on 3 October 2023
T.P. Electrical Limited
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor Vehicles 25% straight line
Computer Equipment 25% straight line
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Computer Equipment Motor vehicles Total
£ £ £
Cost
At 1 April 2022 1,643 13,635 15,278
At 31 March 2023 1,643 13,635 15,278
Depreciation
At 1 April 2022 831 13,636 14,467
Charge for the year 411 - 411
At 31 March 2023 1,242 13,636 14,878
Net book value
At 31 March 2023 401 (1) 400
At 31 March 2022 812 (1) 811
4 Debtors 2023 2022
£ £
Trade debtors 16,162 12,001
Other debtors 7,491 8,413
23,653 20,414
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 2,400 2,400
Trade creditors 645 600
Taxation and social security costs 5,790 6,388
Other creditors 41,309 36,793
50,144 46,181
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 5,600 8,000
7 Other information
T.P. Electrical Limited is a private company limited by shares and incorporated in England. Its registered office is:
102 Tettenhall Road
Wolverhampton
WV6 0BW
T.P. Electrical Limited 10042534 false 2022-04-01 2023-03-31 2023-03-31 VT Final Accounts April 2022 T Powell No description of principal activity 10042534 2021-04-01 2022-03-31 10042534 core:WithinOneYear 2022-03-31 10042534 core:AfterOneYear 2022-03-31 10042534 core:ShareCapital 2022-03-31 10042534 core:RetainedEarningsAccumulatedLosses 2022-03-31 10042534 2022-04-01 2023-03-31 10042534 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 10042534 bus:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 10042534 bus:Director40 2022-04-01 2023-03-31 10042534 1 2022-04-01 2023-03-31 10042534 2 2022-04-01 2023-03-31 10042534 core:PlantMachinery 2022-04-01 2023-03-31 10042534 core:Vehicles 2022-04-01 2023-03-31 10042534 countries:England 2022-04-01 2023-03-31 10042534 bus:FRS102 2022-04-01 2023-03-31 10042534 bus:FullAccounts 2022-04-01 2023-03-31 10042534 2023-03-31 10042534 core:WithinOneYear 2023-03-31 10042534 core:AfterOneYear 2023-03-31 10042534 core:ShareCapital 2023-03-31 10042534 core:RetainedEarningsAccumulatedLosses 2023-03-31 10042534 core:PlantMachinery 2023-03-31 10042534 core:Vehicles 2023-03-31 10042534 2022-03-31 10042534 core:PlantMachinery 2022-03-31 10042534 core:Vehicles 2022-03-31 iso4217:GBP xbrli:pure