Acorah Software Products - Accounts Production 14.5.601 false true true 31 July 2022 1 August 2021 false 1 August 2022 31 July 2023 31 July 2023 09144980 Mr D Bhambra Mr S Bhambra Mr A Lowe Mr A Lowe, Mr S Bhambra and Mr D Bhambra true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09144980 2022-07-31 09144980 2023-07-31 09144980 2022-08-01 2023-07-31 09144980 frs-core:CurrentFinancialInstruments 2023-07-31 09144980 frs-core:Non-currentFinancialInstruments 2023-07-31 09144980 frs-core:ComputerEquipment 2023-07-31 09144980 frs-core:ComputerEquipment 2022-08-01 2023-07-31 09144980 frs-core:ComputerEquipment 2022-07-31 09144980 frs-core:FurnitureFittings 2023-07-31 09144980 frs-core:FurnitureFittings 2022-08-01 2023-07-31 09144980 frs-core:FurnitureFittings 2022-07-31 09144980 frs-core:MotorVehicles 2023-07-31 09144980 frs-core:MotorVehicles 2022-08-01 2023-07-31 09144980 frs-core:MotorVehicles 2022-07-31 09144980 frs-core:PlantMachinery 2023-07-31 09144980 frs-core:PlantMachinery 2022-08-01 2023-07-31 09144980 frs-core:PlantMachinery 2022-07-31 09144980 frs-core:WithinOneYear 2023-07-31 09144980 frs-core:SharePremium 2023-07-31 09144980 frs-core:ShareCapital 2023-07-31 09144980 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31 09144980 frs-bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 09144980 frs-bus:FilletedAccounts 2022-08-01 2023-07-31 09144980 frs-bus:SmallEntities 2022-08-01 2023-07-31 09144980 frs-bus:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 09144980 frs-bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 09144980 frs-bus:OrdinaryShareClass1 2022-08-01 2023-07-31 09144980 frs-bus:OrdinaryShareClass1 2023-07-31 09144980 1 2022-08-01 2023-07-31 09144980 frs-bus:Director1 2022-08-01 2023-07-31 09144980 frs-bus:Director2 2022-08-01 2023-07-31 09144980 frs-bus:Director3 2022-08-01 2023-07-31 09144980 frs-countries:EnglandWales 2022-08-01 2023-07-31 09144980 2021-07-31 09144980 2022-07-31 09144980 2021-08-01 2022-07-31 09144980 frs-core:CurrentFinancialInstruments 2022-07-31 09144980 frs-core:Non-currentFinancialInstruments 2022-07-31 09144980 frs-core:WithinOneYear 2022-07-31 09144980 frs-core:SharePremium 2022-07-31 09144980 frs-core:ShareCapital 2022-07-31 09144980 frs-core:RetainedEarningsAccumulatedLosses 2022-07-31 09144980 frs-bus:OrdinaryShareClass1 2021-08-01 2022-07-31 09144980 frs-core:CurrentFinancialInstruments 1 2022-07-31
Registered number: 09144980
Power Electrical Distribution Ltd
Unaudited Financial Statements
For The Year Ended 31 July 2023
Richards Associates Limited
North Lodge
Hawkesyard
Rugeley
Staffordshire
WS15 1PS
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 09144980
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 12,552 15,690
12,552 15,690
CURRENT ASSETS
Stocks 5 80,000 80,000
Debtors 6 314,604 265,114
Cash at bank and in hand 21,781 35,640
416,385 380,754
Creditors: Amounts Falling Due Within One Year 7 (308,257 ) (267,663 )
NET CURRENT ASSETS (LIABILITIES) 108,128 113,091
TOTAL ASSETS LESS CURRENT LIABILITIES 120,680 128,781
Creditors: Amounts Falling Due After More Than One Year 8 (54,826 ) (74,323 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (2,981 ) (2,981 )
NET ASSETS 62,873 51,477
CAPITAL AND RESERVES
Called up share capital 10 4 4
Share premium account 6 6
Profit and Loss Account 62,863 51,467
SHAREHOLDERS' FUNDS 62,873 51,477
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For the year ending 31 July 2023 the company was entitled to exemption from audit 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.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr A Lowe
Director
15 March 2024
The notes on pages 3 to 7 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Power Electrical Distribution Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09144980 . The registered office is North Lodge, Hawkesyard, Rugeley, WS15 1PS.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
At the time of approving the financial statements the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.
The directors continue to adopt the going concern basis of accounting in preparing financial statements.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% on cost
Motor Vehicles 25% on cost
Fixtures & Fittings 20% on cost
Computer Equipment 33% on cost
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
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2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.7. Financial Instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, and loans to related parties.
2.8. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2022: 3)
3 3
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4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 August 2022 2,695 23,490 13,720 4,466 44,371
Additions 826 - - 515 1,341
As at 31 July 2023 3,521 23,490 13,720 4,981 45,712
Depreciation
As at 1 August 2022 1,606 12,125 11,307 3,643 28,681
Provided during the period 513 2,273 926 767 4,479
As at 31 July 2023 2,119 14,398 12,233 4,410 33,160
Net Book Value
As at 31 July 2023 1,402 9,092 1,487 571 12,552
As at 1 August 2022 1,089 11,365 2,413 823 15,690
5. Stocks
2023 2022
£ £
Stock 80,000 80,000
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 241,927 185,319
Prepayments and accrued income 2,463 1,009
Other debtors 69,257 72,743
Other taxes and social security 957 916
Directors' loan accounts - 5,127
314,604 265,114
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7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts - 1,550
Trade creditors 246,423 229,916
Bank loans and overdrafts 35,297 15,156
Corporation tax 4,368 3,424
VAT 4,029 6,999
Other creditors 1,536 -
Pension creditor - (10 )
Accruals and deferred income 14,603 8,628
Directors' loan accounts 2,001 2,000
308,257 267,663
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 54,826 74,323
54,826 74,323
9. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year - 1,550
10. Share Capital
2023 2022
Allotted, called up and fully paid £ £
4 Ordinary Shares of £ 1.00 each 4 4
11. Related Party Transactions
Power Electrical Distribution Stafford Ltd
A company in which Mr A Lowe, Mr S Bhambra and Mr D Bhambra are also directors.
At the balance sheet date there was an outstanding loan payable from Power Electrical Distribution Stafford Ltd of £68,955 (2022: £72,479). This loan is interest free and repayable upon demand.
Included in trade debtors is a balance of £89,115 (2022: £59,484) due from Power Electrical Distribution Stafford Ltd.
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12. Ultimate Controlling Party
The company's ultimate controlling party is Mr A Lowe, Mr S Bhambra and Mr D Bhambra by virtue of therir ownership of 100% of the issued share capital in the company.
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