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REGISTERED NUMBER: 02084283 (England and Wales)












FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JANUARY 2024

FOR

E & P ELECTRICS (BEDALE) LIMITED

E & P ELECTRICS (BEDALE) LIMITED (REGISTERED NUMBER: 02084283)






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




Page

Balance Sheet 1

Notes to the Financial Statements 3


E & P ELECTRICS (BEDALE) LIMITED (REGISTERED NUMBER: 02084283)

BALANCE SHEET
31ST JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 109,815 88,692

CURRENT ASSETS
Stocks 5 13,522 9,612
Debtors 6 425,227 422,829
Cash at bank and in hand 433,207 451,760
871,956 884,201
CREDITORS
Amounts falling due within one year 7 119,001 161,020
NET CURRENT ASSETS 752,955 723,181
TOTAL ASSETS LESS CURRENT
LIABILITIES

862,770

811,873

PROVISIONS FOR LIABILITIES 27,454 22,173
NET ASSETS 835,316 789,700

CAPITAL AND RESERVES
Called up share capital 1 1
Capital redemption reserve (104,999 ) (104,999 )
Retained earnings 940,314 894,698
SHAREHOLDERS' FUNDS 835,316 789,700

E & P ELECTRICS (BEDALE) LIMITED (REGISTERED NUMBER: 02084283)

BALANCE SHEET - continued
31ST JANUARY 2024


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16th October 2024 and were signed on its behalf by:




E J Nicholson - Director



P M Peacock - Director


E & P ELECTRICS (BEDALE) LIMITED (REGISTERED NUMBER: 02084283)

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

1. STATUTORY INFORMATION

E & P Electrics (Bedale) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 02084283

Registered office: Unit A
North End
Bedale
North Yorkshire
DL8 1XA

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 is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, net of discounts and VAT.

Revenue from the sale of goods is recognised when the significant risk and rewards of ownership of the goods have passed to the buyer which is usually at the point when the customer has taken delivery of the goods, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will pass to the entity, and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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
Fixtures and fittings - 20% on reducing balance
Motor vans - 25% on reducing balance

Tangible assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment.

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 and loss.

Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss.
If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss, (if any).

E & P ELECTRICS (BEDALE) LIMITED (REGISTERED NUMBER: 02084283)

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

2. ACCOUNTING POLICIES - continued

Construction contracts
Where the outcome of a long term contract can be estimated reliably, revenue and costs are recognised by reference to the stage of completion of the contract activity at the reporting end date.
Variations in contract work, claims and reactive payments are included to the extent that the amount can be measured reliably and its receipt is considered probable.

When it is probable that total contract costs will exceed total contract turnover, the expected loss is recognised as an expense immediately.

The "percentage of completion method" is used to determine the appropriate amount to recognise in a given period. The stage of completion is measured by the proportion of contract costs incurred for work performed to date compared to the estimated total contract costs.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is 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 all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making allowance for obsolete and slow moving items.

Currency
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 £.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2023 - 16 ) .

E & P ELECTRICS (BEDALE) LIMITED (REGISTERED NUMBER: 02084283)

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

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vans Totals
£    £    £    £   
COST
At 1st February 2023 56,757 27,119 106,984 190,860
Additions 600 4,552 39,640 44,792
Disposals - - (8,700 ) (8,700 )
At 31st January 2024 57,357 31,671 137,924 226,952
DEPRECIATION
At 1st February 2023 21,345 17,303 63,520 102,168
Charge for year 7,192 2,079 12,592 21,863
Eliminated on disposal - - (6,894 ) (6,894 )
At 31st January 2024 28,537 19,382 69,218 117,137
NET BOOK VALUE
At 31st January 2024 28,820 12,289 68,706 109,815
At 31st January 2023 35,412 9,816 43,464 88,692

5. STOCKS
2024 2023
£    £   
Stocks 13,522 9,612

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 397,471 390,675
Amounts owed by group undertakings - 30
Other debtors 25,923 23,602
Directors' current accounts 1,833 8,522
425,227 422,829

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 46,264 50,929
Corporation tax 37,800 34,732
Social security and other taxes 16,933 59,260
Other creditors 18,004 16,099
119,001 161,020

8. LEASING AGREEMENTS
At the reporting end date the company had total guarantees and commitments of £61,050 (2023 £550).

E & P ELECTRICS (BEDALE) LIMITED (REGISTERED NUMBER: 02084283)

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

9. SECURED DEBTS

The Company entered into a cross guarantee and debenture with Mr E J Nicholson, a director of the Company on 18th December 2020. The facility was due to be repaid no later than the sixth anniversary of the agreement. The loan was interest free, and has subsequesntly been repaid early.

The balance at the year end was £Nil (2023 £94,338) owed by PPH Holding Limited, the parent company.

There is a combined fixed and floating charge over the assets of E & P Electrics (Bedale) Limited and PPH Holding Limited,its parent.

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included in current assets is a loan to a director of £1,833 (2023 £8,522), advances in the year amounted to £3,206 (2023 £NIL) and repayments totalled £9,895.
The loan is interest free and is repayable upon demand.