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REGISTERED NUMBER: 02084283 (England and Wales)












FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JANUARY 2023

FOR

E & P ELECTRICS (BEDALE) LIMITED

E & P ELECTRICS (BEDALE) LIMITED (REGISTERED NUMBER: 02084283)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JANUARY 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


E & P ELECTRICS (BEDALE) LIMITED (REGISTERED NUMBER: 02084283)

BALANCE SHEET
31ST JANUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 88,692 62,626

CURRENT ASSETS
Stocks 5 9,612 9,558
Debtors 6 422,829 322,029
Cash at bank and in hand 451,760 486,626
884,201 818,213
CREDITORS
Amounts falling due within one year 7 161,020 132,397
NET CURRENT ASSETS 723,181 685,816
TOTAL ASSETS LESS CURRENT
LIABILITIES

811,873

748,442

PROVISIONS FOR LIABILITIES 22,173 11,899
NET ASSETS 789,700 736,543

CAPITAL AND RESERVES
Called up share capital 1 1
Capital redemption reserve (104,999 ) (104,999 )
Retained earnings 894,698 841,541
SHAREHOLDERS' FUNDS 789,700 736,543

E & P ELECTRICS (BEDALE) LIMITED (REGISTERED NUMBER: 02084283)

BALANCE SHEET - continued
31ST JANUARY 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st January 2023 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23rd October 2023 and were signed on its behalf by:




E J Nicholson - Director



P M Peacock - Director


E & P ELECTRICS (BEDALE) LIMITED (REGISTERED NUMBER: 02084283)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JANUARY 2023

1. STATUTORY INFORMATION

E & P Electrics (Bedale) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 02084283

Registered office: Unit A
North End
Bedale
North Yorkshire
DL8 1XA

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 recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, net of discounts and VAT.

Revenue from the sale of goods is recognised when the significant risk and rewards of ownership of the goods have passed to the buyer which is usually at the point when the customer has taken delivery of the goods, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will pass to the entity, and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vans - 25% on reducing balance

Tangible assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit and loss.

Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss.
If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss, (if any).

Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable reassurance that the grant conditions will be met.
Government grants relating to turnover are recognised as income over the periods when the related costs are incurred. Grants relating to an asset are recognised as income systematically over the assets expected useful life.
If part of the grant is deferred, it is recognised as deferred income rather than being deducted from the assets carrying amount.

E & P ELECTRICS (BEDALE) LIMITED (REGISTERED NUMBER: 02084283)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2023

2. ACCOUNTING POLICIES - continued

Construction contracts
Where the outcome of a long term contract can be estimated reliably, revenue and costs are recognised by reference to the stage of completion of the contract activity at the reporting end date.
Variations in contract work, claims and reactive payments are included to the extent that the amount can be measured reliably and its receipt is considered probable.

When it is probable that total contract costs will exceed total contract turnover, the expected loss is recognised as an expense immediately.

The "percentage of completion method" is used to determine the appropriate amount to recognise in a given period. The stage of completion is measured by the proportion of contract costs incurred for work performed to date compared to the estimated total contract costs.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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

Currency
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2022 - 16 ) .

E & P ELECTRICS (BEDALE) LIMITED (REGISTERED NUMBER: 02084283)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vans Totals
£    £    £    £   
COST
At 1st February 2022 44,495 20,382 90,489 155,366
Additions 22,212 6,737 16,495 45,444
Disposals (9,950 ) - - (9,950 )
At 31st January 2023 56,757 27,119 106,984 190,860
DEPRECIATION
At 1st February 2022 25,333 16,084 51,323 92,740
Charge for year 4,543 1,219 12,197 17,959
Eliminated on disposal (8,531 ) - - (8,531 )
At 31st January 2023 21,345 17,303 63,520 102,168
NET BOOK VALUE
At 31st January 2023 35,412 9,816 43,464 88,692
At 31st January 2022 19,162 4,298 39,166 62,626

5. STOCKS
2023 2022
£    £   
Stocks 9,612 9,558

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 390,675 297,069
Amounts owed by group undertakings 30 -
Other debtors 23,602 16,438
Directors' current accounts 8,522 8,522
422,829 322,029

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 50,929 39,859
Amounts owed to group undertakings - 5
Corporation tax 34,732 25,927
Social security and other taxes 59,260 37,357
Other creditors 16,099 29,249
161,020 132,397

8. LEASING AGREEMENTS
At the reporting end date the company had a monthly rolling commitment for future minimum lease payments under an operating lease. The current monthly commitment is £550.

E & P ELECTRICS (BEDALE) LIMITED (REGISTERED NUMBER: 02084283)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2023

9. SECURED DEBTS

The Company entered into a cross guarantee and debenture with Mr E J Nicholson, a director of the Company on 18th December 2020. The facility is due to be repaid no later than the sixth anniversary of the agreement. The loan is interest free, subject to complying with the repayment schedule. Interest would accrue daily from the date of non-payment to the date of the actual payment at 5% on any default.

The balance at the year end was £94,338 owed by PPH Holding Limited, the parent company.

There is a combined fixed and floating charge over the assets of E & P Electrics (Bedale) Limited and PPH Holding Limited,its parent.

10. DIRECTORS' TRANSACTIONS

Included in current assets is a loan to a director of £8,522 (2022 £8,522), advances in the year amounted to £Nil (2022 £8,522) and repayments totalled £Nil.
The loan is interest free and is repayable upon demand.