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REGISTERED NUMBER: 04910257 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

P M W ELECTRICAL LIMITED

P M W ELECTRICAL LIMITED (REGISTERED NUMBER: 04910257)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


P M W ELECTRICAL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: P M Wood
D Oliver





SECRETARY: Mrs B A Wood





REGISTERED OFFICE: 23 The Hub
Commercial Road
Darwen
Lancashire
BB3 0FL





REGISTERED NUMBER: 04910257 (England and Wales)





ACCOUNTANTS: P B Syddall & Co
Chartered Accountants
Grafton House
81 Chorley Old Road
Bolton
Lancashire
BL1 3AJ

P M W ELECTRICAL LIMITED (REGISTERED NUMBER: 04910257)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 40,156 37,357
40,156 37,357

CURRENT ASSETS
Stocks 7 35,650 26,430
Debtors 8 178,891 275,707
Cash at bank and in hand 39,663 146
254,204 302,283
CREDITORS
Amounts falling due within one year 9 191,768 226,185
NET CURRENT ASSETS 62,436 76,098
TOTAL ASSETS LESS CURRENT
LIABILITIES

102,592

113,455

CREDITORS
Amounts falling due after more than one
year

10

(32,346

)

(42,075

)

PROVISIONS FOR LIABILITIES (7,098 ) (7,098 )
NET ASSETS 63,148 64,282

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 63,138 64,272
SHAREHOLDERS' FUNDS 63,148 64,282

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

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

P M W ELECTRICAL LIMITED (REGISTERED NUMBER: 04910257)

BALANCE SHEET - continued
31 MARCH 2023


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 12 September 2023 and were signed on its behalf by:





P M Wood - Director


P M W ELECTRICAL LIMITED (REGISTERED NUMBER: 04910257)

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

1. STATUTORY INFORMATION

P M W Electrical 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
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.

GOODWILL
Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of ten years.

INTANGIBLE ASSETS
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

STOCKS
Work in progress is valued at the lower of cost and net realisable value.

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.


P M W ELECTRICAL LIMITED (REGISTERED NUMBER: 04910257)

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

3. ACCOUNTING POLICIES - continued
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.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 6 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 12,000
AMORTISATION
At 1 April 2022
and 31 March 2023 12,000
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

P M W ELECTRICAL LIMITED (REGISTERED NUMBER: 04910257)

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

6. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 April 2022 87,587 38,667 126,254
Additions 10,120 - 10,120
At 31 March 2023 97,707 38,667 136,374
DEPRECIATION
At 1 April 2022 52,222 36,675 88,897
Charge for year 6,823 498 7,321
At 31 March 2023 59,045 37,173 96,218
NET BOOK VALUE
At 31 March 2023 38,662 1,494 40,156
At 31 March 2022 35,365 1,992 37,357

7. STOCKS
2023 2022
£    £   
Work-in-progress 35,650 26,430

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 90,123 156,900
Other debtors 60,000 60,000
Directors current account - 44,795
Tax 4,710 -
VAT 12,638 2,592
Prepayments and accrued income 11,420 11,420
178,891 275,707

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 89,444 94,093
Amounts owed to associated company 7,972 17,500
Tax 58,180 57,720
Social security and other taxes 8,759 21,342
Other creditors - 8,162
Directors current account 44 -
Accrued expenses 27,369 27,368
191,768 226,185

P M W ELECTRICAL LIMITED (REGISTERED NUMBER: 04910257)

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

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 2-5 years 32,346 42,075

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

2023 2022
£    £   
P M Wood
Balance outstanding at start of year 44,795 (770 )
Amounts advanced - 45,565
Amounts repaid (44,795 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 44,795

12. RELATED PARTY DISCLOSURES

During the year the company partially repaid loans from Millot Investments Limited a company in which director P M Wood is materially interested in as director and shareholder. Outstanding at the year end was £7,972 (2022 - £17,500).