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REGISTERED NUMBER: SC282231 (Scotland)












P.W. AUTO ELECTRICAL LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023






P.W. AUTO ELECTRICAL LTD (REGISTERED NUMBER: SC282231)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


P.W. AUTO ELECTRICAL LTD

COMPANY INFORMATION
for the Year Ended 31 March 2023







DIRECTOR: Mr P K Worthy





REGISTERED OFFICE: 71 King Street
Kilmarnock
Ayrshire
KA1 1PT





REGISTERED NUMBER: SC282231 (Scotland)





ACCOUNTANTS: Nicolson Accountancy
Trinity House
31 Lynedoch Street
Glasgow
G3 6EF

P.W. AUTO ELECTRICAL LTD (REGISTERED NUMBER: SC282231)

BALANCE SHEET
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 20,608 95,855

CURRENT ASSETS
Stocks 1,000 3,000
Debtors 5 28,210 24,310
Cash at bank 60,905 76,172
90,115 103,482
CREDITORS
Amounts falling due within one
year

6

30,308

38,300
NET CURRENT ASSETS 59,807 65,182
TOTAL ASSETS LESS CURRENT
LIABILITIES

80,415

161,037

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 7 80,414 161,036
SHAREHOLDERS' FUNDS 80,415 161,037

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 director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 November 2023 and were signed by:





Mr P K Worthy - Director


P.W. AUTO ELECTRICAL LTD (REGISTERED NUMBER: SC282231)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

P.W. Auto Electrical Ltd is a private company, limited by shares , registered in Scotland. 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.
Fixtures and fittings - 25% 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 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

P.W. AUTO ELECTRICAL LTD (REGISTERED NUMBER: SC282231)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2022 91,660 3,082 50,701 1,091 146,534
Additions 17,844 - - - 17,844
Impairments (91,660 ) - - - (91,660 )
At 31 March 2023 17,844 3,082 50,701 1,091 72,718
DEPRECIATION
At 1 April 2022 - 2,726 47,180 773 50,679
Charge for year 357 89 880 105 1,431
At 31 March 2023 357 2,815 48,060 878 52,110
NET BOOK VALUE
At 31 March 2023 17,487 267 2,641 213 20,608
At 31 March 2022 91,660 356 3,521 318 95,855

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 28,210 24,310

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade creditors 13,292 21,935
Taxation and social security 16,966 15,733
Other creditors 50 632
30,308 38,300

7. RESERVES
Retained
earnings
£   

At 1 April 2022 161,036
Deficit for the year (56,622 )
Dividends (24,000 )
At 31 March 2023 80,414

8. ULTIMATE CONTROLLING PARTY

The controlling party is Mr P K Worthy.

The controlling party is Mr P K Worthy.