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Registered number: 03182873
Photondale Electrical Services Limited
Financial Statements
For The Year Ended 29 February 2024
Stubbs Parkin
55 Hoghton Street
Southport
Merseyside
PR9 0PG
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 03182873
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 9,087 56,113
9,087 56,113
CURRENT ASSETS
Stocks 5 182,593 750
Debtors 6 11,835 155,212
Cash at bank and in hand 16,164 116,286
210,592 272,248
Creditors: Amounts Falling Due Within One Year 7 (14,255 ) (55,928 )
NET CURRENT ASSETS (LIABILITIES) 196,337 216,320
TOTAL ASSETS LESS CURRENT LIABILITIES 205,424 272,433
NET ASSETS 205,424 272,433
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 205,324 272,333
SHAREHOLDERS' FUNDS 205,424 272,433
Page 1
Page 2
For the year ending 29 February 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
Mr S J McGowan
Director
12th September 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Photondale Electrical Services Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03182873 . The registered office is 40 Trafalgar Road, Birkdale, Southport, Merseyside, PR8 2NP. The company's functional and presentational currency is GBP and no level of rounding has been used in the preparation of the financial statements.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. 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 15% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 15% 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.
2.5. Taxation
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2023: 8)
5 8
Page 3
Page 4
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 March 2023 12,471 115,452 32,037 159,960
Additions - - 569 569
Disposals (8,693 ) (95,035 ) (31,773 ) (135,501 )
As at 29 February 2024 3,778 20,417 833 25,028
Depreciation
As at 1 March 2023 7,609 70,922 25,316 103,847
Provided during the period 730 2,071 1,083 3,884
Disposals (6,758 ) (58,770 ) (26,262 ) (91,790 )
As at 29 February 2024 1,581 14,223 137 15,941
Net Book Value
As at 29 February 2024 2,197 6,194 696 9,087
As at 1 March 2023 4,862 44,530 6,721 56,113
5. Stocks
2024 2023
£ £
Stock 182,593 750
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 8,821 142,407
Other debtors 3,014 12,805
11,835 155,212
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 2,651 9,670
Other creditors 2,407 5,711
Taxation and social security 9,197 40,547
14,255 55,928
Page 4
Page 5
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 5