Steve Pritchard Electrical Limited 07215415 false 2023-05-01 2024-04-30 2024-04-30 The principal activity of the company is electrical services Digita Accounts Production Advanced 6.30.9574.0 true 07215415 2023-05-01 2024-04-30 07215415 2024-04-30 07215415 bus:OrdinaryShareClass1 2024-04-30 07215415 core:CurrentFinancialInstruments 2024-04-30 07215415 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 07215415 core:Non-currentFinancialInstruments core:AfterOneYear 2024-04-30 07215415 core:MotorVehicles 2024-04-30 07215415 core:OtherPropertyPlantEquipment 2024-04-30 07215415 bus:SmallEntities 2023-05-01 2024-04-30 07215415 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 07215415 bus:FullAccounts 2023-05-01 2024-04-30 07215415 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 07215415 bus:RegisteredOffice 2023-05-01 2024-04-30 07215415 bus:Director1 2023-05-01 2024-04-30 07215415 bus:OrdinaryShareClass1 2023-05-01 2024-04-30 07215415 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 07215415 bus:Agent1 2023-05-01 2024-04-30 07215415 core:MotorVehicles 2023-05-01 2024-04-30 07215415 core:OtherPropertyPlantEquipment 2023-05-01 2024-04-30 07215415 core:PlantMachinery 2023-05-01 2024-04-30 07215415 core:KeyManagementPersonnel 2023-05-01 2024-04-30 07215415 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-05-01 2024-04-30 07215415 countries:EnglandWales 2023-05-01 2024-04-30 07215415 2023-04-30 07215415 core:MotorVehicles 2023-04-30 07215415 core:OtherPropertyPlantEquipment 2023-04-30 07215415 2022-05-01 2023-04-30 07215415 2023-04-30 07215415 bus:OrdinaryShareClass1 2023-04-30 07215415 core:CurrentFinancialInstruments 2023-04-30 07215415 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 07215415 core:Non-currentFinancialInstruments core:AfterOneYear 2023-04-30 07215415 core:MotorVehicles 2023-04-30 07215415 core:OtherPropertyPlantEquipment 2023-04-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 07215415

Steve Pritchard Electrical Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Steve Pritchard Electrical Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 9

 

Steve Pritchard Electrical Limited

Company Information

Director

Mr Steven Pritchard

Registered office

Yallingup
Well Lane
Redruth
TR16 4QZ

Accountants

Martin Fisher & Co Ltd
Chartered Certified Accountants
Woodbine Farm Bus Centre
Truro Business Park
Truro
Cornwall
TR3 6BW

 

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Steve Pritchard Electrical Limited
for the Year Ended 30 April 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Steve Pritchard Electrical Limited for the year ended 30 April 2024 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the Board of Directors of Steve Pritchard Electrical Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Steve Pritchard Electrical Limited and state those matters that we have agreed to state to the Board of Directors of Steve Pritchard Electrical Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Steve Pritchard Electrical Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Steve Pritchard Electrical Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Steve Pritchard Electrical Limited. You consider that Steve Pritchard Electrical Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Steve Pritchard Electrical Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Martin Fisher & Co Ltd
Chartered Certified Accountants
Woodbine Farm Bus Centre
Truro Business Park
Truro
Cornwall
TR3 6BW

15 August 2024

 

Steve Pritchard Electrical Limited

(Registration number: 07215415)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

22,987

14,748

Current assets

 

Stocks

5

1,000

1,000

Debtors

6

16,015

6,318

Cash at bank and in hand

 

7,152

6,519

 

24,167

13,837

Creditors: Amounts falling due within one year

7

(14,556)

(10,138)

Net current assets

 

9,611

3,699

Total assets less current liabilities

 

32,598

18,447

Creditors: Amounts falling due after more than one year

7

(11,841)

(13,998)

Net assets

 

20,757

4,449

Capital and reserves

 

Called up share capital

8

2

2

Retained earnings

20,755

4,447

Shareholders' funds

 

20,757

4,449

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 15 August 2024
 

 

Steve Pritchard Electrical Limited

(Registration number: 07215415)
Balance Sheet as at 30 April 2024

.........................................
Mr Steven Pritchard
Director

 

Steve Pritchard Electrical Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Yallingup
Well Lane
Redruth
TR16 4QZ

These financial statements were authorised for issue by the director on 15 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Steve Pritchard Electrical Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

15% reducing balance

Plant and machinery

15% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

Steve Pritchard Electrical Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 4 (2023 - 4).

 

Steve Pritchard Electrical Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Tangible assets

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 May 2023

30,465

18,928

49,393

Additions

12,295

-

12,295

At 30 April 2024

42,760

18,928

61,688

Depreciation

At 1 May 2023

23,212

11,433

34,645

Charge for the year

2,932

1,124

4,056

At 30 April 2024

26,144

12,557

38,701

Carrying amount

At 30 April 2024

16,616

6,371

22,987

At 30 April 2023

7,253

7,495

14,748

5

Stocks

2024
£

2023
£

Raw materials and consumables

1,000

1,000

6

Debtors

Current

2024
£

2023
£

Trade debtors

10,545

4,983

Other debtors

5,470

1,335

 

16,015

6,318

7

Creditors

Creditors: amounts falling due within one year

 

Steve Pritchard Electrical Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

2,164

2,111

Trade creditors

 

2,980

3,344

Taxation and social security

 

3,826

2,641

Other creditors

 

5,586

2,042

 

14,556

10,138

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

11,841

13,998

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

         

9

Related party transactions

Key management personnel

Mr S Pritchard (director).

Summary of transactions with key management

Director's loan account.
 Interest free and repayable on demand of the Company. At the balance sheet date the amount due by the Company was £3,428 (2023: £465)