Registered number
04509357
Priority Fire And Electrical Limited
Report and Accounts
31 August 2023
Priority Fire And Electrical Limited
Report to the directors on the preparation of the unaudited statutory accounts of Priority Fire And Electrical Limited for the year ended 31 August 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Priority Fire And Electrical Limited for the year ended 31 August 2023 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/
Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163.
Coalesco Accountants Limited
Chartered Certified Accountants
156 Russell Drive
Wollaton
Nottingham
NG8 2BE
16 September 2023
Priority Fire And Electrical Limited
Registered number: 04509357
Balance Sheet
as at 31 August 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 851 1,135
Current assets
Stocks 100 300
Debtors 4 6,565 8,577
Cash at bank and in hand 47,324 71,517
53,989 80,394
Creditors: amounts falling due within one year 5 227 721
Net current assets 54,216 81,115
Total assets less current liabilities 55,067 82,250
Provisions for liabilities (542) (542)
Net assets 54,525 81,708
Capital and reserves
Called up share capital 100 100
Profit and loss account 54,425 81,608
Shareholders' funds 54,525 81,708
The directors are 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 directors acknowledge their 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.
J Daly
Director
Approved by the board on 16 September 2023
Priority Fire And Electrical Limited
Notes to the Accounts
for the year ended 31 August 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Equipment 20% reducing balance per annum
Motor vehicles 25% reducing balance per annum
Stocks
Stock is valued at the lower of cost and net realisable value.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 September 2022 3,280 21,740 25,020
At 31 August 2023 3,280 21,740 25,020
Depreciation
At 1 September 2022 3,100 20,785 23,885
Charge for the year 45 239 284
At 31 August 2023 3,145 21,024 24,169
Net book value
At 31 August 2023 135 716 851
At 31 August 2022 180 955 1,135
4 Debtors 2023 2022
£ £
Trade debtors 700 2,088
Other debtors 5,865 6,489
6,565 8,577
5 Creditors: amounts falling due within one year 2023 2022
£ £
Other taxes and social security costs (1,154) (1,649)
Other creditors 927 928
(227) (721)
6 Other information
Priority Fire And Electrical Limited is a private company limited by shares and incorporated in England. Its registered office is:
156 Russell Drive
Wollaton
Nottingham
NG8 2BE
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