PRYKE ELECTRICAL LIMITED

Company Registration Number:
10006556 (England and Wales)

Unaudited abridged accounts for the year ended 31 March 2023

Period of accounts

Start date: 01 April 2022

End date: 31 March 2023

PRYKE ELECTRICAL LIMITED

Contents of the Financial Statements

for the Period Ended 31 March 2023

Balance sheet
Notes

PRYKE ELECTRICAL LIMITED

Balance sheet

As at 31 March 2023


Notes

2023

2022


£

£
Called up share capital not paid: 0 0
Fixed assets
Intangible assets: 3 10,500 14,000
Tangible assets: 4 6,240 4,156
Investments:   0 0
Total fixed assets: 16,740 18,156
Current assets
Stocks: 32,124 25,591
Debtors:   13,616 20,025
Cash at bank and in hand: 51,176 33,087
Investments:   0 0
Total current assets: 96,916 78,703
Creditors: amounts falling due within one year:   (76,500) (72,488)
Net current assets (liabilities): 20,416 6,215
Total assets less current liabilities: 37,156 24,371
Creditors: amounts falling due after more than one year: 5 0 (167)
Provision for liabilities: (1,186) (789)
Total net assets (liabilities): 35,970 23,415
Capital and reserves
Called up share capital: 400 400
Share premium account: 9,900 9,900
Revaluation reserve: 00
Other reserves: 0 0
Profit and loss account: 25,670 13,115
Shareholders funds: 35,970 23,415

The notes form part of these financial statements

PRYKE ELECTRICAL LIMITED

Balance sheet statements

For the year ending 31 March 2023 the company was entitled to exemption 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 20 December 2023
and signed on behalf of the board by:

Name: Roy Alan Calver
Status: Director

The notes form part of these financial statements

PRYKE ELECTRICAL LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover consists of the invoiced value (excluding VAT) receivable by the company in the ordinary course of business for goods supplied and for services supplied as a principal with provision being made for any sundry under or over payments, or similar items.

Tangible fixed assets and depreciation policy

Depreciation is calculated to write off the cost, less the estimated residual values, of tangible fixed assets over their estimated useful lives to the business. Where there is evidence of impairment, fixed assets are written down to the receivable amount. Any such write down is charged to operating profit.Plant & machinery - 25% reducing balance basis

Intangible fixed assets and amortisation policy

Intangible fixed assets (including purchased goodwill) are amortised at rates calculated to write off the assets on a straight line basis over their estimated economic lives. Impairment of intangible fixed assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.

Valuation and information policy

Stocks and work in progress are valued at the lower of cost and net realisable value, taking account of obsolete and slow moving items. Net realisable value is the estimated sales or billable value that could be achieved at the accounting date.

Other accounting policies

Deferred taxationDeferred tax arises as a result of including items of income and expenditure in taxation computations, in periods different from those in which they feature in the accounts. Deferred tax is provided on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates expected to apply when the timing differences reverse, based upon current tax rates and laws.Pension costsContributions in respect of the company's defined contributions pension scheme are charged to the profit and loss account for year in which they are payable . Differences between the contributions payable and those actually paid are shown as either accruals or prepayments at the year end.Going concern basisThe accounts have been prepared on the assumption that the company is able to carry on business as a going concern. The importance of reliance upon the continued support of the directors is acknowledged in this regard.

PRYKE ELECTRICAL LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

2. Employees

2023 2022
Average number of employees during the period 1 1

PRYKE ELECTRICAL LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

3. Intangible Assets

Total
Cost £
At 01 April 2022 35,000
Additions 0
Disposals 0
Revaluations 0
Transfers 0
At 31 March 2023 35,000
Amortisation
At 01 April 2022 21,000
Charge for year 3,500
On disposals 0
Other adjustments 0
At 31 March 2023 24,500
Net book value
At 31 March 2023 10,500
At 31 March 2022 14,000

PRYKE ELECTRICAL LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

4. Tangible Assets

Total
Cost £
At 01 April 2022 13,134
Additions 4,164
Disposals 0
Revaluations 0
Transfers 0
At 31 March 2023 17,298
Depreciation
At 01 April 2022 8,978
Charge for year 2,080
On disposals 0
Other adjustments 0
At 31 March 2023 11,058
Net book value
At 31 March 2023 6,240
At 31 March 2022 4,156

PRYKE ELECTRICAL LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

5. Creditors: amounts falling due after more than one year note

Finance charges due after one year - £0 (2022 - £167)

PRYKE ELECTRICAL LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

6. Related party transactions

During the period under review, the following transactions took place between the company and the related party Pryke Electrical Services Limited: sales to the related party - £18352 (£22023 including VAT).