Company Registration No. 5611755 (England and Wales)
P W ELECTRICAL SERVICES LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
PAGES FOR FILING WITH REGISTRAR
P W ELECTRICAL SERVICES LTD
COMPANY INFORMATION
Directors
P Cunningham
G Daly
Secretary
J Smith
Company number
5611755
Registered office
48 Springfield Avenue
London
SW20 9JX
P W ELECTRICAL SERVICES LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2
P W ELECTRICAL SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
1
Accounting policies
Company information
P W Electrical Services Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 48 Springfield Avenue, London, SW20 9JX.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and machinery
25% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
1.5
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
P W ELECTRICAL SERVICES LTD
BALANCE SHEET
AS AT
30 NOVEMBER 2023
30 November 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
2
19,103
25,471
Current assets
Stock and work in progress
12,090
4,160
Debtors
3
12,641
13,836
Cash at bank and in hand
85,041
98,050
109,772
116,046
Creditors: amounts falling due within one year
4
(76,908)
(80,001)
Net current assets
32,864
36,045
Total assets less current liabilities
51,967
61,516
Capital and reserves
Called up share capital
5
100
100
Profit and loss reserves
51,867
61,416
Total equity
51,967
61,516
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
Directors' responsibilities:
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The financial statements were approved by the board of directors and authorised for issue on 20 August 2024 and are signed on its behalf by:
P Cunningham
Director
Company Registration No. 5611755
P W ELECTRICAL SERVICES LTD
BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 2023
30 November 2023
- 2 -
2
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 December 2022 and 30 November 2023
90,011
Depreciation and impairment
At 1 December 2022
64,540
Depreciation charged in the year
6,368
At 30 November 2023
70,908
Carrying amount
At 30 November 2023
19,103
At 30 November 2022
25,471
3
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
12,641
13,836
4
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
3,794
4,597
Corporation tax
19,545
18,105
Other taxation and social security
18,907
16,092
Other creditors
34,662
41,207
76,908
80,001
5
Called up share capital
2023
2022
£
£
Ordinary share capital
Authorised
100 Ordinary of £1 each
100
100
Issued and fully paid
100 Ordinary of £1 each
100
100
6
Operating lease commitments
Lessee