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REGISTERED NUMBER: 10559055 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024

FOR

P Salter Electrical Ltd

P Salter Electrical Ltd (Registered number: 10559055)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


P Salter Electrical Ltd

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: P Salter
Mrs N J Salter





REGISTERED OFFICE: 53 Stephens Road
Tadley
Hampshire
RG26 3RS





REGISTERED NUMBER: 10559055 (England and Wales)





ACCOUNTANTS: Jones & Co
Sherwood House
41 Queens Road
Farnborough
Hants
GU14 6JP

P Salter Electrical Ltd (Registered number: 10559055)

BALANCE SHEET
31 JANUARY 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 7,564 8,881

CURRENT ASSETS
Stocks 3,500 -
Debtors 5 25,893 33,969
Cash at bank 2,360 3,519
31,753 37,488
CREDITORS
Amounts falling due within one year 6 11,023 16,371
NET CURRENT ASSETS 20,730 21,117
TOTAL ASSETS LESS CURRENT LIABILITIES 28,294 29,998

CREDITORS
Amounts falling due after more than one year 7 (7,000 ) (11,000 )

PROVISIONS FOR LIABILITIES (1,434 ) (1,687 )
NET ASSETS 19,860 17,311

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 19,760 17,211
19,860 17,311

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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 10 September 2024 and were signed on its behalf by:





P Salter - Director


P Salter Electrical Ltd (Registered number: 10559055)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1. STATUTORY INFORMATION

P Salter Electrical Ltd 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 net invoiced sales of goods and services, excluding value added tax and is recognised on the completion and installation of goods and services.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Office equipment - 20% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the period comprises current tax, 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 timing differences which have originated and not been reversed at the balance sheet date.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Office
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 February 2023 3,447 18,295 1,033 22,775
Additions - - 983 983
At 31 January 2024 3,447 18,295 2,016 23,758
DEPRECIATION
At 1 February 2023 1,603 11,777 514 13,894
Charge for year 369 1,630 301 2,300
At 31 January 2024 1,972 13,407 815 16,194
NET BOOK VALUE
At 31 January 2024 1,475 4,888 1,201 7,564
At 31 January 2023 1,844 6,518 519 8,881

P Salter Electrical Ltd (Registered number: 10559055)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 23,377 29,943
Other debtors 2,516 4,026
25,893 33,969

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 4,000 4,000
Trade creditors 2,206 686
Taxation and social security 1,675 6,762
Other creditors 3,142 4,923
11,023 16,371

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans 7,000 11,000