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Company Registration No. 09481601 (England and Wales)
Price Electrical Services Ltd Unaudited accounts for the period from 1 April 2022 to 30 March 2023
Price Electrical Services Ltd Unaudited accounts Contents
Page
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Price Electrical Services Ltd Company Information for the period from 1 April 2022 to 30 March 2023
Directors
Daniel Price Emma Price
Company Number
09481601 (England and Wales)
Registered Office
44 WRINGTON CLOSE LITTLE STOKE BRISTOL BS34 6EX ENGLAND
Accountants
Evans Entwistle 10 Fountain Court, Elm House New Leaze Bradley Stoke Bristol BS32 4LA
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Chartered Management Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Price Electrical Services Ltd for the period from 1 April 2022 to 30 March 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Price Electrical Services Ltd for the period from 1 April 2022 to 30 March 2023 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.
As a CIMA Registered Member in Practice and Practising Certificate holder, I am subject to its ethical and other professional requirements which are detailed at https://www.cimaglobal.com/Members/Your-Membership-Information/Members-handbook/Licensing-and-monitoring/Members-in-practice/
Our work has been undertaken in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com.
Evans Entwistle Member in Practice 10 Fountain Court, Elm House New Leaze Bradley Stoke Bristol BS32 4LA 14 February 2024
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Price Electrical Services Ltd Statement of financial position as at 30 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
80,158 
101,843 
Current assets
Inventories
17,500 
15,000 
Debtors
168,389 
50,434 
Cash at bank and in hand
124,354 
165,270 
310,243 
230,704 
Creditors: amounts falling due within one year
(159,282)
(101,478)
Net current assets
150,961 
129,226 
Total assets less current liabilities
231,119 
231,069 
Creditors: amounts falling due after more than one year
(88,819)
(104,217)
Provisions for liabilities
Deferred tax
(15,230)
- 
Net assets
127,070 
126,852 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
127,069 
126,851 
Shareholders' funds
127,070 
126,852 
For the period ending 30 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 14 February 2024 and were signed on its behalf by
Daniel Price Director Company Registration No. 09481601
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Price Electrical Services Ltd Notes to the Accounts for the period from 1 April 2022 to 30 March 2023
1
Statutory information
Price Electrical Services Ltd is a private company, limited by shares, registered in England and Wales, registration number 09481601. The registered office is 44 WRINGTON CLOSE, LITTLE STOKE, BRISTOL, BS34 6EX, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
5 yeras
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Price Electrical Services Ltd Notes to the Accounts for the period from 1 April 2022 to 30 March 2023
4
Tangible fixed assets
Motor vehicles 
£ 
Cost or valuation
At cost 
At 1 April 2022
108,425 
At 30 March 2023
108,425 
Depreciation
At 1 April 2022
6,582 
Charge for the period
21,685 
At 30 March 2023
28,267 
Net book value
At 30 March 2023
80,158 
At 31 March 2022
101,843 
5
Inventories
2023 
2022 
£ 
£ 
Finished goods
17,500 
15,000 
17,500 
15,000 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
8,653 
9,225 
Trade debtors
159,736 
41,209 
168,389 
50,434 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
25,248 
36,158 
Trade creditors
110,282 
23,303 
Taxes and social security
15,735 
5,140 
Other creditors
4,131 
35,302 
Accruals
3,886 
1,575 
159,282 
101,478 
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
22,397 
31,405 
Loans from directors
66,422 
72,812 
88,819 
104,217 
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Price Electrical Services Ltd Notes to the Accounts for the period from 1 April 2022 to 30 March 2023
9
Deferred taxation
2023 
2022 
£ 
£ 
Accelerated capital allowances
15,230 
- 
2023 
2022 
£ 
£ 
Charged to the profit and loss account
15,230 
- 
Provision at end of period
15,230 
- 
10
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1 
1 
11
Average number of employees
During the period the average number of employees was 6 (2022: 6).
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