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REGISTERED NUMBER: 11523540 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 August 2023

for

L & P Electrical Ltd

L & P Electrical Ltd (Registered number: 11523540)






Contents of the Financial Statements
for the Year Ended 31 August 2023




Page

Company information 1

Balance sheet 2

Notes to the financial statements 4


L & P Electrical Ltd

Company Information
for the Year Ended 31 August 2023







Directors: Mr A Lamb
Mr T M Pearson
Mrs C V Lamb
Mrs S L A Pearson





Registered office: 6 George Street
Driffield
East Yorkshire
YO25 6RA





Registered number: 11523540 (England and Wales)





Accountants: Ullyott Limited
6 George Street
Driffield
East Yorkshire
YO25 6RA

L & P Electrical Ltd (Registered number: 11523540)

Balance Sheet
31 August 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 106,106 90,456

CURRENT ASSETS
Stocks 5 1,000 -
Debtors 6 41,388 51,956
Cash at bank 111,493 12,559
153,881 64,515
CREDITORS
Amounts falling due within one year 7 121,782 62,180
NET CURRENT ASSETS 32,099 2,335
TOTAL ASSETS LESS CURRENT
LIABILITIES

138,205

92,791

CREDITORS
Amounts falling due after more than one
year

8

(18,334

)

(28,333

)

PROVISIONS FOR LIABILITIES (23,480 ) (18,918 )
NET ASSETS 96,391 45,540

CAPITAL AND RESERVES
Called up share capital 9 102 102
Retained earnings 96,289 45,438
SHAREHOLDERS' FUNDS 96,391 45,540

L & P Electrical Ltd (Registered number: 11523540)

Balance Sheet - continued
31 August 2023


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 14 November 2023 and were signed on its behalf by:





Mr T M Pearson - Director


L & P Electrical Ltd (Registered number: 11523540)

Notes to the Financial Statements
for the Year Ended 31 August 2023

1. STATUTORY INFORMATION

L & P Electrical Ltd 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 2% on cost
Plant and machinery - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

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

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.


L & P Electrical Ltd (Registered number: 11523540)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

2. 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.

HIRE PURCHASE AND LEASING COMMITMENTS
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

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

L & P Electrical Ltd (Registered number: 11523540)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 September 2022 13,774 44,058 283
Additions - 5,833 -
At 31 August 2023 13,774 49,891 283
DEPRECIATION
At 1 September 2022 879 20,011 93
Charge for year 276 5,822 48
At 31 August 2023 1,155 25,833 141
NET BOOK VALUE
At 31 August 2023 12,619 24,058 142
At 31 August 2022 12,895 24,047 190

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 September 2022 73,443 9,069 140,627
Additions 37,300 2,705 45,838
At 31 August 2023 110,743 11,774 186,465
DEPRECIATION
At 1 September 2022 24,211 4,977 50,171
Charge for year 21,777 2,265 30,188
At 31 August 2023 45,988 7,242 80,359
NET BOOK VALUE
At 31 August 2023 64,755 4,532 106,106
At 31 August 2022 49,232 4,092 90,456

5. STOCKS
2023 2022
£    £   
Stocks 1,000 -

L & P Electrical Ltd (Registered number: 11523540)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 27,678 51,956
Other debtors 13,710 -
41,388 51,956

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 23,410 22,941
Corporation tax 48,208 15,506
Social security and other taxes 2,896 56
VAT 33,114 11,404
Other creditors 1,774 80
Directors' current accounts 744 738
Accruals and deferred income 1,636 1,455
121,782 62,180

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 8,334 18,333
18,334 28,333

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
50 A Ordinary £1 50 50
50 B Ordinary £1 50 50
1 C Ordinary £1 1 1
1 D Ordinary £1 1 1
102 102