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REGISTERED NUMBER: 06263000 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

FOR

L P ELECTRICAL SOLUTIONS LIMITED

L P ELECTRICAL SOLUTIONS LIMITED (REGISTERED NUMBER: 06263000)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


L P ELECTRICAL SOLUTIONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTORS: Mr L Patterson
Mrs L Patterson





REGISTERED OFFICE: 31 Bardsley Street
Heaton Norris
Stockport
Cheshire
SK4 1QB





REGISTERED NUMBER: 06263000 (England and Wales)





ACCOUNTANTS: Allens Accountants Limited
Chartered Accountants
123 Wellington Road South
Stockport
Cheshire
SK1 3TH

L P ELECTRICAL SOLUTIONS LIMITED (REGISTERED NUMBER: 06263000)

BALANCE SHEET
31 MAY 2023

31/5/23 31/5/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 43,453 45,614

CURRENT ASSETS
Stocks 16,000 16,000
Debtors 5 13,457 18,623
Cash at bank 37,934 37,963
67,391 72,586
CREDITORS
Amounts falling due within one year 6 47,679 41,971
NET CURRENT ASSETS 19,712 30,615
TOTAL ASSETS LESS CURRENT
LIABILITIES

63,165

76,229

CREDITORS
Amounts falling due after more than one
year

7

(20,875

)

(30,895

)

PROVISIONS FOR LIABILITIES 8 (8,256 ) (8,667 )
NET ASSETS 34,034 36,667

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 33,934 36,567
SHAREHOLDERS' FUNDS 34,034 36,667

L P ELECTRICAL SOLUTIONS LIMITED (REGISTERED NUMBER: 06263000)

BALANCE SHEET - continued
31 MAY 2023


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 25 October 2023 and were signed on its behalf by:





Mr L Patterson - Director


L P ELECTRICAL SOLUTIONS LIMITED (REGISTERED NUMBER: 06263000)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1. STATUTORY INFORMATION

L P Electrical Solutions Limited 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 represents the total amount receivable by the company for goods supplied and services provided, excluding value added tax and trade discounts.

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
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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 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.

L P ELECTRICAL SOLUTIONS LIMITED (REGISTERED NUMBER: 06263000)

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

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 8 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2022 95,683
Additions 20,200
Disposals (13,650 )
At 31 May 2023 102,233
DEPRECIATION
At 1 June 2022 50,069
Charge for year 11,271
Eliminated on disposal (2,560 )
At 31 May 2023 58,780
NET BOOK VALUE
At 31 May 2023 43,453
At 31 May 2022 45,614

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/5/23 31/5/22
£    £   
Trade debtors 10,667 16,261
Other debtors 2,790 2,362
13,457 18,623

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/5/23 31/5/22
£    £   
Bank loans and overdrafts 9,959 9,940
Trade creditors 9,172 7,058
Taxation and social security 19,118 14,335
Other creditors 9,430 10,638
47,679 41,971

L P ELECTRICAL SOLUTIONS LIMITED (REGISTERED NUMBER: 06263000)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/5/23 31/5/22
£    £   
Bank loans 20,875 30,895

8. PROVISIONS FOR LIABILITIES
31/5/23 31/5/22
£    £   
Deferred tax 8,256 8,667

Deferred
tax
£   
Balance at 1 June 2022 8,667
Provided during year (411 )
Balance at 31 May 2023 8,256

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/5/23 31/5/22
value: £    £   
100 Ordinary £1 100 100