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REGISTERED NUMBER: 04908861 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 October 2023

for

P J Wright & Son Electrical Contractors
Limited

P J Wright & Son Electrical Contractors
Limited (Registered number: 04908861)






Contents of the Financial Statements
for the year ended 31 October 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


P J Wright & Son Electrical Contractors
Limited

Company Information
for the year ended 31 October 2023







DIRECTOR: P J Wright





SECRETARY: Mrs M R Wright





REGISTERED OFFICE: 22-28 Willow Street
Accrington
Lancashire
BB5 1LP





REGISTERED NUMBER: 04908861 (England and Wales)





ACCOUNTANTS: Mayes Business Partnership Ltd
Chartered Certified Accountants
22-28 Willow Street
Accrington
Lancashire
BB5 1LP

P J Wright & Son Electrical Contractors
Limited (Registered number: 04908861)

Abridged Balance Sheet
31 October 2023

31/10/23 31/10/22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 840
Tangible assets 5 394 1,654
394 2,494

CURRENT ASSETS
Work in progress 2,612 -
Debtors 16,004 23,803
Cash at bank 23,576 29,937
42,192 53,740
CREDITORS
Amounts falling due within one year 13,222 17,733
NET CURRENT ASSETS 28,970 36,007
TOTAL ASSETS LESS CURRENT
LIABILITIES

29,364

38,501

CREDITORS
Amounts falling due after more than one year - (14,037 )

PROVISIONS FOR LIABILITIES (75 ) (314 )
NET ASSETS 29,289 24,150

CAPITAL AND RESERVES
Called up share capital 7 4 1
Retained earnings 29,285 24,149
SHAREHOLDERS' FUNDS 29,289 24,150

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

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

P J Wright & Son Electrical Contractors
Limited (Registered number: 04908861)

Abridged Balance Sheet - continued
31 October 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 October 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 13 February 2024 and were signed by:





P J Wright - Director


P J Wright & Son Electrical Contractors
Limited (Registered number: 04908861)

Notes to the Financial Statements
for the year ended 31 October 2023

1. STATUTORY INFORMATION

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

The company sells electrical contract services to the general public. Revenue is recognised in the accounting period in which the services are rendered when the outcome of contract can be estimated reliably.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of twenty 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.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 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 work in progress to their present location and condition.

Financial instruments
Basic financial assets, including trade and other receivables, cash and bank balances and investments in commercial paper, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

P J Wright & Son Electrical Contractors
Limited (Registered number: 04908861)

Notes to the Financial Statements - continued
for the year ended 31 October 2023

2. ACCOUNTING POLICIES - continued

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 November 2022
and 31 October 2023 17,000
AMORTISATION
At 1 November 2022 16,160
Amortisation for year 840
At 31 October 2023 17,000
NET BOOK VALUE

At 31 October 2023 -
At 31 October 2022 840

P J Wright & Son Electrical Contractors
Limited (Registered number: 04908861)

Notes to the Financial Statements - continued
for the year ended 31 October 2023

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 November 2022 8,191
Disposals (5,000 )
At 31 October 2023 3,191
DEPRECIATION
At 1 November 2022 6,537
Charge for year 74
Eliminated on disposal (3,814 )
At 31 October 2023 2,797
NET BOOK VALUE
At 31 October 2023 394
At 31 October 2022 1,654

6. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31/10/23 31/10/22
£    £   
Between one and five years 3,520 6,160

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/10/23 31/10/22
value: £    £   
4 Ordinary £1 4 1
(31/10/22 - 1 )

3 Ordinary shares of £1 were issued during the year for cash of £ 3 .