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REGISTERED NUMBER: 03894660 (England and Wales)















Unaudited Financial Statements

for the Period 1 May 2022 to 29 April 2023

for

Pickard Electricals Limited

Pickard Electricals Limited (Registered number: 03894660)






Contents of the Financial Statements
for the Period 1 May 2022 to 29 April 2023




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


Pickard Electricals Limited

Company Information
for the Period 1 May 2022 to 29 April 2023







DIRECTORS: N T Pickard
L Pickard





REGISTERED OFFICE: Unit 5B
Willowtree Industrial Estate
Alnwick
Northumberland
NE66 2HA





REGISTERED NUMBER: 03894660 (England and Wales)





ACCOUNTANTS: Peter Weldon & Co. Ltd
87 Station Road
Ashington
Northumberland
NE63 8RS

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Pickard Electricals Limited

The following reproduces the text of the report prepared for the directors 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 Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors 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 Pickard Electricals Limited for the period ended 29 April 2023 which comprise the Income Statement, Balance Sheet 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Pickard Electricals Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Pickard Electricals Limited and state those matters that we have agreed to state to the Board of Directors of Pickard Electricals Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Pickard Electricals Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Pickard Electricals Limited 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 Pickard Electricals Limited. You consider that Pickard Electricals Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Pickard Electricals Limited. 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.






Peter Weldon & Co. Ltd
87 Station Road
Ashington
Northumberland
NE63 8RS


3 April 2024

Pickard Electricals Limited (Registered number: 03894660)

Balance Sheet
29 April 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 8,750 8,750
Tangible assets 5 36,132 43,097
44,882 51,847

CURRENT ASSETS
Stocks 6 3,000 3,000
Debtors 7 150,656 141,196
Cash at bank and in hand 34,068 19,319
187,724 163,515
CREDITORS
Amounts falling due within one year 8 184,890 159,255
NET CURRENT ASSETS 2,834 4,260
TOTAL ASSETS LESS CURRENT
LIABILITIES

47,716

56,107

CREDITORS
Amounts falling due after more than one
year

9

(37,955

)

(47,425

)

PROVISIONS FOR LIABILITIES (9,032 ) (8,188 )
NET ASSETS 729 494

Pickard Electricals Limited (Registered number: 03894660)

Balance Sheet - continued
29 April 2023

2023 2022
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 629 394
SHAREHOLDERS' FUNDS 729 494

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 29 April 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 29 April 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 3 April 2024 and were signed on its behalf by:





N T Pickard - Director


Pickard Electricals Limited (Registered number: 03894660)

Notes to the Financial Statements
for the Period 1 May 2022 to 29 April 2023

1. STATUTORY INFORMATION

Pickard Electricals 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.

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 per annum
Fixtures and fittings - 15% on reducing balance per annum
Motor vehicles - 20% on reducing balance per annum

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 period 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.


Pickard Electricals Limited (Registered number: 03894660)

Notes to the Financial Statements - continued
for the Period 1 May 2022 to 29 April 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 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 period 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.

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.

Trade and other debtors
Trade and other debtors that are receivable within one year and do not constitute a financing transaction are recorded at the undiscounted amount expected to be received, net of impairment. Those that are receivable after more than one year or constitute a financing transaction are recorded initially at fair value less transaction costs and subsequently amortised cost, net of impairment.

Trade and other creditors
Trade and other debtors that are receivable within one year and do not constitute a financing transaction are recorded at the undiscounted amount expected to be received, net of impairment. Those that are receivable after more than one year or constitute a financing transaction are recorded initially at fair value less transaction costs and subsequently amortised cost, net of impairment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 11 (2022 - 10 ) .

Pickard Electricals Limited (Registered number: 03894660)

Notes to the Financial Statements - continued
for the Period 1 May 2022 to 29 April 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2022
and 29 April 2023 30,000
AMORTISATION
At 1 May 2022
and 29 April 2023 21,250
NET BOOK VALUE
At 29 April 2023 8,750
At 30 April 2022 8,750

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 May 2022 43,451 13,939 64,145 121,535
Additions 979 - - 979
At 29 April 2023 44,430 13,939 64,145 122,514
DEPRECIATION
At 1 May 2022 26,618 11,060 40,760 78,438
Charge for period 2,834 434 4,676 7,944
At 29 April 2023 29,452 11,494 45,436 86,382
NET BOOK VALUE
At 29 April 2023 14,978 2,445 18,709 36,132
At 30 April 2022 16,833 2,879 23,385 43,097

6. STOCKS
2023 2022
£    £   
Stocks 3,000 3,000

Pickard Electricals Limited (Registered number: 03894660)

Notes to the Financial Statements - continued
for the Period 1 May 2022 to 29 April 2023

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 105,498 127,498
Other Debtors 695 -
Directors' current accounts 42,547 12,635
VAT 976 -
Prepayments 940 1,063
150,656 141,196

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 32,567 33,503
Hire purchase contracts 3,875 4,805
Trade creditors 122,205 49,035
Tax 10,574 664
Social security and other taxes 4,193 4,725
VAT - 29,488
Net wages - 1,511
Pension 2,101 1,125
Accruals and deferred income - 25,024
Accrued expenses 9,375 9,375
184,890 159,255

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 33,755 39,350
Hire purchase contracts 4,200 8,075
37,955 47,425

Pickard Electricals Limited (Registered number: 03894660)

Notes to the Financial Statements - continued
for the Period 1 May 2022 to 29 April 2023

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended 29 April 2023 and the year ended 30 April 2022:

2023 2022
£    £   
N T Pickard
Balance outstanding at start of period 12,635 -
Amounts advanced 29,912 12,635
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period 42,547 12,635