Acorah Software Products - Accounts Production 15.0.500 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 07049939 Mrs Susan King Mrs Paula Turpie Susan Angela King true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07049939 2023-03-31 07049939 2024-03-31 07049939 2023-04-01 2024-03-31 07049939 frs-core:CurrentFinancialInstruments 2024-03-31 07049939 frs-core:MotorVehicles 2024-03-31 07049939 frs-core:MotorVehicles 2023-04-01 2024-03-31 07049939 frs-core:MotorVehicles 2023-03-31 07049939 frs-core:PlantMachinery 2024-03-31 07049939 frs-core:PlantMachinery 2023-04-01 2024-03-31 07049939 frs-core:PlantMachinery 2023-03-31 07049939 frs-core:ShareCapital 2024-03-31 07049939 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 07049939 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 07049939 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 07049939 frs-bus:SmallEntities 2023-04-01 2024-03-31 07049939 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 07049939 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 07049939 1 2023-04-01 2024-03-31 07049939 frs-bus:Director1 2023-04-01 2024-03-31 07049939 frs-bus:Director2 2023-04-01 2024-03-31 07049939 frs-core:CurrentFinancialInstruments 1 2024-03-31 07049939 frs-countries:EnglandWales 2023-04-01 2024-03-31 07049939 2022-03-31 07049939 2023-03-31 07049939 2022-04-01 2023-03-31 07049939 frs-core:CurrentFinancialInstruments 2023-03-31 07049939 frs-core:ShareCapital 2023-03-31 07049939 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31 07049939 frs-core:CurrentFinancialInstruments 1 2023-03-31 07049939 frs-core:CurrentFinancialInstruments 2 2023-03-31
Registered number: 07049939
Peter King Electrical Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07049939
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 11,058 14,672
11,058 14,672
CURRENT ASSETS
Stocks 5 49,353 56,595
Debtors 6 65,707 70,660
Cash at bank and in hand 222,041 368,986
337,101 496,241
Creditors: Amounts Falling Due Within One Year 7 (223,641 ) (397,536 )
NET CURRENT ASSETS (LIABILITIES) 113,460 98,705
TOTAL ASSETS LESS CURRENT LIABILITIES 124,518 113,377
NET ASSETS 124,518 113,377
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 124,418 113,277
SHAREHOLDERS' FUNDS 124,518 113,377
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For the year ending 31 March 2024 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
Mrs Susan King
Director
05/08/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Peter King Electrical Limited Registered number 07049939 , is a limited by shares company, incorporated in England & Wales. The Registered Office is 4 Maltings Garth, Thurston, Bury St Edmunds, Suffolk, IP31 3PP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
2.2. 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 and from the rendering of services. 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.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. 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% Reducing Balance
Motor Vehicles 25% Reducing Balance
2.4. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 3 3
Sales, marketing and distribution 5 6
8 9
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4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 April 2023 3,678 59,708 63,386
As at 31 March 2024 3,678 59,708 63,386
Depreciation
As at 1 April 2023 2,605 46,109 48,714
Provided during the period 214 3,400 3,614
As at 31 March 2024 2,819 49,509 52,328
Net Book Value
As at 31 March 2024 859 10,199 11,058
As at 1 April 2023 1,073 13,599 14,672
5. Stocks
2024 2023
£ £
Work in progress 49,353 56,595
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 57,179 70,660
Prepayments and accrued income 8,528 -
65,707 70,660
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 57,259 46,734
Other taxes and social security 5,875 7,611
VAT 9,483 14,679
Credit Card Creditor 60 -
Peoples Pension Creditor 1,035 994
Other misc creditors - 1,792
Accruals and deferred income 2,534 2,530
Directors' loan accounts 147,395 323,196
223,641 397,536
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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9. Ultimate Controlling Party
The company's ultimate controlling party is Susan Angela King by virtue of her ownership of 92% of the issued share capital in the company.
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