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REGISTERED NUMBER: 04468564 (England and Wales)















ABRIDGED UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023

FOR

P.R.S. ELECTRICAL CONTRACTORS LTD.

P.R.S. ELECTRICAL CONTRACTORS LTD. (REGISTERED NUMBER: 04468564)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4

Chartered Certified Accountants' Report 8

P.R.S. ELECTRICAL CONTRACTORS LTD.

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTOR: Mr P H Smith



REGISTERED OFFICE: 17 Victoria Road East
Thornton Cleveleys
Lancashire
FY5 5HT



REGISTERED NUMBER: 04468564 (England and Wales)



ACCOUNTANTS: Miller Roskell Limited
Chartered Certified Accountants
17 Victoria Road East
Thornton Cleveleys
Lancashire
FY5 5HT



BANKERS: Lloyds Bank plc
30 Corporation Street
Blackpool
Lancashire
FY1 1EN

P.R.S. ELECTRICAL CONTRACTORS LTD. (REGISTERED NUMBER: 04468564)

ABRIDGED STATEMENT OF FINANCIAL POSITION
30 JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,996 1,996
Tangible assets 5 291,216 129,735
293,212 131,731

CURRENT ASSETS
Stocks 8,950 8,450
Debtors 117,349 65,600
Cash at bank 417,068 506,751
543,367 580,801
CREDITORS
Amounts falling due within one year 96,158 57,844
NET CURRENT ASSETS 447,209 522,957
TOTAL ASSETS LESS CURRENT
LIABILITIES

740,421

654,688

PROVISIONS FOR LIABILITIES 18,882 22,833
NET ASSETS 721,539 631,855

CAPITAL AND RESERVES
Called up share capital 50 50
Capital redemption reserve 50 50
Retained earnings 721,439 631,755
721,539 631,855

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.R.S. ELECTRICAL CONTRACTORS LTD. (REGISTERED NUMBER: 04468564)

ABRIDGED STATEMENT OF FINANCIAL POSITION - continued
30 JUNE 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 Income Statement and an abridged Statement of Financial Position for the year ended 30 June 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 15 March 2024 and were signed by:





Mr P H Smith - Director


P.R.S. ELECTRICAL CONTRACTORS LTD. (REGISTERED NUMBER: 04468564)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1. STATUTORY INFORMATION

P.R.S. 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 the amount receivable for the provision of goods and services falling within the company's ordinary activities, excluding value added tax.

Turnover from the provision of goods and services is only recognised when the amounts to be recognised are fixed or determinable and collectability is reasonably assured.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2002, is being amortised evenly over its estimated useful life of ten 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.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

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 - 25% on reducing balance
Motor vehicles - 25% on cost
Computer equipment - 15% 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 statement of financial position date.


P.R.S. ELECTRICAL CONTRACTORS LTD. (REGISTERED NUMBER: 04468564)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 11 (2022 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 July 2022
and 30 June 2023 15,996
AMORTISATION
At 1 July 2022
and 30 June 2023 14,000
NET BOOK VALUE

At 30 June 2023 1,996
At 30 June 2022 1,996

P.R.S. ELECTRICAL CONTRACTORS LTD. (REGISTERED NUMBER: 04468564)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 July 2022 241,263
Additions 216,502
At 30 June 2023 457,765
DEPRECIATION
At 1 July 2022 111,528
Charge for year 55,021
At 30 June 2023 166,549
NET BOOK VALUE
At 30 June 2023 291,216
At 30 June 2022 129,735

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 July 2022
and 30 June 2023 1,823
DEPRECIATION
At 1 July 2022 558
Charge for year 253
At 30 June 2023 811
NET BOOK VALUE
At 30 June 2023 1,012
At 30 June 2022 1,265

6. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2023 and 30 June 2022:

2023 2022
£    £   
Mr P H Smith
Balance outstanding at start of year 21,210 76,076
Amounts advanced 28,303 21,210
Amounts repaid (21,210 ) (76,076 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 28,303 21,210

P.R.S. ELECTRICAL CONTRACTORS LTD. (REGISTERED NUMBER: 04468564)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

7. RELATED PARTY DISCLOSURES

The director operated a loan account with the company. The balance owed by the director at 30 June 2023 was £(28,303) (2022 - £(21,210)).

8. ULTIMATE CONTROLLING PARTY

The controlling party is Mr P H Smith.

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
P.R.S. ELECTRICAL CONTRACTORS LTD.

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Abridged Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of P.R.S. Electrical Contractors Ltd. for the year ended 30 June 2023 which comprise the Abridged Income Statement, Abridged Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of P.R.S. Electrical Contractors Ltd. in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of P.R.S. Electrical Contractors Ltd. and state those matters that we have agreed to state to the director of P.R.S. Electrical Contractors Ltd. in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that P.R.S. Electrical Contractors Ltd. has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of P.R.S. Electrical Contractors Ltd.. You consider that P.R.S. Electrical Contractors Ltd. is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of P.R.S. Electrical Contractors Ltd.. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Miller Roskell Limited
Chartered Certified Accountants
17 Victoria Road East
Thornton Cleveleys
Lancashire
FY5 5HT


15 March 2024