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REGISTERED NUMBER: 08779969 (England and Wales)







Unaudited Financial Statements

for the Year Ended 30 November 2023

for

Powered Electrical Contractors Ltd

Powered Electrical Contractors Ltd (Registered number: 08779969)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Powered Electrical Contractors Ltd

Company Information
for the Year Ended 30 November 2023







DIRECTOR: Mr O Mihaylov





SECRETARY: Mr O Mihaylov





REGISTERED OFFICE: Kestrel Court
Harbour Road
Portishead
Bristol
Somerset
BS20 7AN





REGISTERED NUMBER: 08779969 (England and Wales)





ACCOUNTANTS: Dunkley's
Woodlands Grange
Woodlands Lane
Bradley Stoke
Bristol
BS32 4JY

Powered Electrical Contractors Ltd (Registered number: 08779969)

Balance Sheet
30 November 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 36,296 48,856

CURRENT ASSETS
Debtors 5 13,039 9,299
Cash at bank 31,872 43,854
44,911 53,153
CREDITORS
Amounts falling due within one year 6 30,678 27,650
NET CURRENT ASSETS 14,233 25,503
TOTAL ASSETS LESS CURRENT LIABILITIES 50,529 74,359

CREDITORS
Amounts falling due after more than one year 7 (7,400 ) (19,366 )

PROVISIONS FOR LIABILITIES (6,896 ) (9,283 )
NET ASSETS 36,233 45,710

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 9 36,133 45,610
SHAREHOLDERS' FUNDS 36,233 45,710

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 28 March 2024 and were signed by:




Mr O Mihaylov - Director


Powered Electrical Contractors Ltd (Registered number: 08779969)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

Powered Electrical Contractors 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 18% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - Straight line over 3 years

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
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.

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 3 (2022 - 5 ) .

Powered Electrical Contractors Ltd (Registered number: 08779969)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 December 2022
and 30 November 2023 15,066 60,885 4,818 80,769
DEPRECIATION
At 1 December 2022 9,579 21,020 1,314 31,913
Charge for year 988 9,966 1,606 12,560
At 30 November 2023 10,567 30,986 2,920 44,473
NET BOOK VALUE
At 30 November 2023 4,499 29,899 1,898 36,296
At 30 November 2022 5,487 39,865 3,504 48,856

Fixed assets, included in the above, which are held under hire purchase contracts and finance leases are as follows:
Motor
vehicles
£   
COST
At 1 December 2022
and 30 November 2023 60,885
DEPRECIATION
At 1 December 2022 21,020
Charge for year 9,966
At 30 November 2023 30,986
NET BOOK VALUE
At 30 November 2023 29,899
At 30 November 2022 39,865

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade debtors 11,584 3,230
Other debtors - 388
Tax - 4,014
Prepayments and accrued income 1,455 1,667
13,039 9,299

Powered Electrical Contractors Ltd (Registered number: 08779969)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Hire purchase contracts and finance leases 11,966 10,117
VAT 16,144 15,027
Other creditors 242 339
Directors' current accounts 655 643
Accrued expenses 1,671 1,524
30,678 27,650

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.11.23 30.11.22
£    £   
Hire purchase contracts and finance leases 7,400 19,366

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.11.23 30.11.22
value: £    £   
100 Ordinary £1 100 100

9. RESERVES
Retained
earnings
£   

At 1 December 2022 45,610
Deficit for the year (4,377 )
Dividends (5,100 )
At 30 November 2023 36,133

10. OTHER FINANCIAL COMMITMENTS

At the balance sheet date, the company had other financial commitments in the form of operating leases totalling £17,556.