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REGISTERED NUMBER: 04911628 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 31 October 2023

for

Mark Pritchard Electrical Services
Limited

Mark Pritchard Electrical Services
Limited (Registered number: 04911628)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Balance Sheet 1

Notes to the Financial Statements 2


Mark Pritchard Electrical Services
Limited (Registered number: 04911628)

Balance Sheet
31 October 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 98,702 155,815
Investments 5 120,000 120,000
Investment property 6 1,147,840 1,147,840
1,366,542 1,423,655

CURRENT ASSETS
Stocks - 20,590
Debtors 7 352,689 568,484
Cash at bank and in hand 509,755 338,953
862,444 928,027
CREDITORS
Amounts falling due within one year 8 191,468 567,201
NET CURRENT ASSETS 670,976 360,826
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,037,518

1,784,481

PROVISIONS FOR LIABILITIES 17,489 26,518
NET ASSETS 2,020,029 1,757,963

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 9 90,197 90,197
Retained earnings 1,929,732 1,667,666
2,020,029 1,757,963

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 12 April 2024 and were signed by:





M Pritchard - Director


Mark Pritchard Electrical Services
Limited (Registered number: 04911628)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

Mark Pritchard Electrical Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 04911628

Registered office: 67 Farndon Road
Newark
Nottinghamshire
NG24 4SQ

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 as modified by the revaluation of certain assets.

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.
Short leasehold - 5% on cost
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 33% on reducing balance
Motor vehicles - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 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.

Mark Pritchard Electrical Services
Limited (Registered number: 04911628)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

2. ACCOUNTING POLICIES - continued

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 2 (2022 - 5 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and Motor
leasehold machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 November 2022 63,276 17,773 10,107 178,840 269,996
Additions - - 1,057 48,396 49,453
Disposals - (17,488 ) (3,262 ) (120,127 ) (140,877 )
At 31 October 2023 63,276 285 7,902 107,109 178,572
DEPRECIATION
At 1 November 2022 31,613 14,355 6,496 61,717 114,181
Charge for year 3,163 21 697 22,053 25,934
Eliminated on disposal - (14,175 ) (3,250 ) (42,820 ) (60,245 )
At 31 October 2023 34,776 201 3,943 40,950 79,870
NET BOOK VALUE
At 31 October 2023 28,500 84 3,959 66,159 98,702
At 31 October 2022 31,663 3,418 3,611 117,123 155,815

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 November 2022
and 31 October 2023 120,000
NET BOOK VALUE
At 31 October 2023 120,000
At 31 October 2022 120,000

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2022
and 31 October 2023 1,147,840
NET BOOK VALUE
At 31 October 2023 1,147,840
At 31 October 2022 1,147,840

Mark Pritchard Electrical Services
Limited (Registered number: 04911628)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

6. INVESTMENT PROPERTY - continued

Fair value at 31 October 2023 is represented by:
£   
Valuation in 2010 3,335
Valuation in 2011 10,000
Valuation in 2013 3,482
Valuation in 2015 42,496
Valuation in 2016 15,000
Valuation in 2018 29,761
Cost 1,043,766
1,147,840

The director has reviewed the value of the properties at the year end on an open market basis and is satisfied that the carrying value of £1,147,840 reflects the fair value.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 104,776 271,587
Other debtors 247,913 296,897
352,689 568,484

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 34,587 162,134
Taxation and social security 150,255 144,933
Other creditors 6,626 260,134
191,468 567,201

9. RESERVES
Fair
value
reserve
£   
At 1 November 2022
and 31 October 2023 90,197

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 October 2023 and 31 October 2022:

2023 2022
£    £   
M Pritchard
Balance outstanding at start of year 277,201 938
Amounts advanced 2,836 276,263
Amounts repaid (275,312 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 4,725 277,201