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REGISTERED NUMBER: 03606745 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 September 2023

for

Price Electrics (Electrical Contractors)
Limited

Price Electrics (Electrical Contractors)
Limited (Registered number: 03606745)






Contents of the Financial Statements
for the year ended 30 September 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Price Electrics (Electrical Contractors)
Limited

Company Information
for the year ended 30 September 2023







DIRECTOR: R A Price





REGISTERED OFFICE: 21 Cheswick Close
Winyates Green
Redditch
Worcestershire
B98 0QG





REGISTERED NUMBER: 03606745 (England and Wales)





ACCOUNTANTS: Derek Young & Co Accountants LLP
Chartered Accountants
Estate House
Evesham Street
Redditch
Worcestershire
B97 4HP

Price Electrics (Electrical Contractors)
Limited (Registered number: 03606745)

Abridged Balance Sheet
30 September 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 12,316 15,533

CURRENT ASSETS
Stocks 1,245 1,175
Debtors 13,992 15,179
Cash at bank and in hand 792 792
16,029 17,146
CREDITORS
Amounts falling due within one year 38,425 44,352
NET CURRENT LIABILITIES (22,396 ) (27,206 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(10,080

)

(11,673

)

CREDITORS
Amounts falling due after more than one
year

12,764

17,581
NET LIABILITIES (22,844 ) (29,254 )

CAPITAL AND RESERVES
Called up share capital 5 100 100
Retained earnings (22,944 ) (29,354 )
SHAREHOLDERS' FUNDS (22,844 ) (29,254 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

Price Electrics (Electrical Contractors)
Limited (Registered number: 03606745)

Abridged Balance Sheet - continued
30 September 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 Balance Sheet for the year ended 30 September 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 30 July 2024 and were signed by:





R A Price - Director


Price Electrics (Electrical Contractors)
Limited (Registered number: 03606745)

Notes to the Financial Statements
for the year ended 30 September 2023

1. STATUTORY INFORMATION

Price Electrics (Electrical Contractors) 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 represents amounts derived from the provision of goods and services falling within the company's ordinary activities, after deduction of trade discounts, value added tax and any other tax based on the amounts so derived.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Equipment - 15% on reducing balance

Tangible fixed assets are stated at cost less depreciation.

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.

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.

Price Electrics (Electrical Contractors)
Limited (Registered number: 03606745)

Notes to the Financial Statements - continued
for the year ended 30 September 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 October 2022
and 30 September 2023 25,610
DEPRECIATION
At 1 October 2022 10,077
Charge for year 3,217
At 30 September 2023 13,294
NET BOOK VALUE
At 30 September 2023 12,316
At 30 September 2022 15,533

5. CALLED UP SHARE CAPITAL

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