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REGISTERED NUMBER: 04230768 (England and Wales)






P K Teasdale (Electrical) Limited

Financial Statements

for the Year Ended 31 August 2023






P K Teasdale (Electrical) Limited (Registered number: 04230768)

Contents of the Financial Statements
for the year ended 31 August 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


P K Teasdale (Electrical) Limited

Company Information
for the year ended 31 August 2023







DIRECTORS: Mr P K Teasdale
Mr A F Green



REGISTERED OFFICE: 6 Green Lane
Alverthorpe
Wakefield
West Yorkshire
WF2 9AB



REGISTERED NUMBER: 04230768 (England and Wales)



ACCOUNTANTS: SMH Jolliffe Cork Ltd
Chartered Accountants
33 George Street
Wakefield
West Yorkshire
WF1 1LX



BANKERS: Barclays Bank plc
Market Place
Dewsbury
West Yorkshire
WF13 1PS

P K Teasdale (Electrical) Limited (Registered number: 04230768)

Balance Sheet
31 August 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible assets 4 1 1
Tangible assets 5 52,218 22,377
52,219 22,378

CURRENT ASSETS
Stocks 3,000 3,250
Debtors 6 298,978 278,592
Cash at bank 136,957 161,826
438,935 443,668
CREDITORS
Amounts falling due within one year 7 205,654 210,601
NET CURRENT ASSETS 233,281 233,067
TOTAL ASSETS LESS CURRENT
LIABILITIES

285,500

255,445

PROVISIONS FOR LIABILITIES 13,055 4,252
NET ASSETS 272,445 251,193

P K Teasdale (Electrical) Limited (Registered number: 04230768)

Balance Sheet - continued
31 August 2023

2023 2022
Notes £ £ £ £

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 272,345 251,093
SHAREHOLDERS' FUNDS 272,445 251,193

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 8 April 2024 and were signed on its behalf by:




Mr P K Teasdale - Director



Mr A F Green - Director


P K Teasdale (Electrical) Limited (Registered number: 04230768)

Notes to the Financial Statements
for the year ended 31 August 2023


1. STATUTORY INFORMATION

P K Teasdale (Electrical) 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.

The functional and presentation currency for the company is the pound sterling (£). All financial information presented has been rounded to the nearest (£), unless otherwise stated.

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 represents net invoiced sales of services, excluding value added tax.

Goodwill
Positive purchased goodwill arising on acquisitions is capitalised, classified as an asset on the Balance Sheet and amortised over its estimated useful life. Goodwill is fully written down in these financial statements.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 25% on reducing balance
Tools & 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.

Financial instruments
The company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments.

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are only offset in the balance sheet when and only when there exists a legally enforceable right to set off the recognised amounts and the company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Financial assets are derecognised when and only when; a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or, c) the company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.


P K Teasdale (Electrical) Limited (Registered number: 04230768)

Notes to the Financial Statements - continued
for the year ended 31 August 2023


2. ACCOUNTING POLICIES - continued
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.

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 an auto-enrolment pension scheme on behalf of its employees and makes defined contributions into the scheme. During the financial year the company also made employer contributions into a director's personal pension scheme. Contributions payable to these pension schemes are charged to the profit and loss account in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£
COST
At 1 September 2022
and 31 August 2023 1
NET BOOK VALUE
At 31 August 2023 1
At 31 August 2022 1

P K Teasdale (Electrical) Limited (Registered number: 04230768)

Notes to the Financial Statements - continued
for the year ended 31 August 2023


5. TANGIBLE FIXED ASSETS
Motor Tools &
vehicles equipment Totals
£ £ £
COST
At 1 September 2022 38,190 19,186 57,376
Additions 40,864 356 41,220
At 31 August 2023 79,054 19,542 98,596
DEPRECIATION
At 1 September 2022 19,376 15,623 34,999
Charge for year 10,832 547 11,379
At 31 August 2023 30,208 16,170 46,378
NET BOOK VALUE
At 31 August 2023 48,846 3,372 52,218
At 31 August 2022 18,814 3,563 22,377

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 225,659 248,357
Other debtors 50,000 -
VAT 16,820 24,584
Prepayments and accrued income 6,499 5,651
298,978 278,592

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade creditors 110,944 110,886
Tax 21,944 30,847
Social security and other taxes 9,188 8,155
Other creditors 582 601
Directors' current accounts 59,746 57,037
Accruals and deferred income 3,250 3,075
205,654 210,601

P K Teasdale (Electrical) Limited (Registered number: 04230768)

Notes to the Financial Statements - continued
for the year ended 31 August 2023


8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£ £
Within one year 1,193 6,877
Between one and five years - 1,193
1,193 8,070

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
90 Ordinary £1 90 90
10 A Ordinary £1 10 10
100 100

10. RELATED PARTY DISCLOSURES

During the year, total dividends of £82,000 (2022 - £95,901) were paid to the directors .

During the year the company paid £6,400 (2022: £6,000) for rent of business premises owned personally by a director.