PH Electrical Services Limited 05376109 false 2023-03-01 2024-08-31 2024-08-31 The principal activity of the company is electrical installation and repair. Digita Accounts Production Advanced 6.30.9574.0 true true 05376109 2023-03-01 2024-08-31 05376109 2024-08-31 05376109 core:OtherReservesSubtotal 2024-08-31 05376109 core:RetainedEarningsAccumulatedLosses 2024-08-31 05376109 core:ShareCapital 2024-08-31 05376109 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-08-31 05376109 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-08-31 05376109 core:CurrentFinancialInstruments 2024-08-31 05376109 core:CurrentFinancialInstruments core:WithinOneYear 2024-08-31 05376109 core:Non-currentFinancialInstruments core:AfterOneYear 2024-08-31 05376109 core:FurnitureFittingsToolsEquipment 2024-08-31 05376109 core:LandBuildings 2024-08-31 05376109 core:MotorVehicles 2024-08-31 05376109 1 2024-08-31 05376109 bus:SmallEntities 2023-03-01 2024-08-31 05376109 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-08-31 05376109 bus:FilletedAccounts 2023-03-01 2024-08-31 05376109 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-08-31 05376109 bus:RegisteredOffice 2023-03-01 2024-08-31 05376109 bus:CompanySecretaryDirector1 2023-03-01 2024-08-31 05376109 bus:Director1 2023-03-01 2024-08-31 05376109 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-08-31 05376109 bus:Agent1 2023-03-01 2024-08-31 05376109 core:FurnitureFittingsToolsEquipment 2023-03-01 2024-08-31 05376109 core:LandBuildings 2023-03-01 2024-08-31 05376109 core:MotorVehicles 2023-03-01 2024-08-31 05376109 core:OfficeEquipment 2023-03-01 2024-08-31 05376109 countries:EnglandWales 2023-03-01 2024-08-31 05376109 1 2023-03-01 2024-08-31 05376109 2023-02-28 05376109 core:FurnitureFittingsToolsEquipment 2023-02-28 05376109 core:LandBuildings 2023-02-28 05376109 core:MotorVehicles 2023-02-28 05376109 1 2023-02-28 05376109 2022-03-01 2023-02-28 05376109 2023-02-28 05376109 core:OtherReservesSubtotal 2023-02-28 05376109 core:RetainedEarningsAccumulatedLosses 2023-02-28 05376109 core:ShareCapital 2023-02-28 05376109 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-02-28 05376109 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-02-28 05376109 core:CurrentFinancialInstruments 2023-02-28 05376109 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 05376109 core:Non-currentFinancialInstruments core:AfterOneYear 2023-02-28 05376109 core:FurnitureFittingsToolsEquipment 2023-02-28 05376109 core:LandBuildings 2023-02-28 05376109 core:MotorVehicles 2023-02-28 05376109 1 2023-02-28 05376109 1 2022-03-01 2023-02-28 05376109 1 2022-02-28 iso4217:GBP xbrli:pure

Registration number: 05376109

PH Electrical Services Limited

Unaudited Filleted Financial Statements

for the Period from 1 March 2023 to 31 August 2024

 

PH Electrical Services Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 10

 

PH Electrical Services Limited

Company Information

Directors

Mr P J Hesketh

Mrs S Hesketh

Company secretary

Mrs S Hesketh

Registered office

Standroyd Barn
Skipton Old Road
Colne
Lancashire
BB8 7AE

Accountants

Hargreaves Brown & Benson
Chartered Accountants
1 Bond Street
Colne
Lancashire
BB8 9DG

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
PH Electrical Services Limited
for the Period Ended 31 August 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of PH Electrical Services Limited for the period ended 31 August 2024 as set out on pages 3 to 10 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of PH Electrical Services Limited, as a body. Our work has been undertaken solely to prepare for your approval the accounts of PH Electrical Services Limited and state those matters that we have agreed to state to the Board of Directors of PH Electrical Services Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than PH Electrical Services Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that PH Electrical Services 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 PH Electrical Services Limited. You consider that PH Electrical Services Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of PH Electrical Services 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.

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

Hargreaves Brown & Benson
Chartered Accountants
1 Bond Street
Colne
Lancashire
BB8 9DG

15 November 2024

 

PH Electrical Services Limited

(Registration number: 05376109)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

100,749

136,805

Current assets

 

Stocks

5

8,445

7,890

Debtors

6

527,453

487,388

Cash at bank and in hand

 

257,253

384,703

 

793,151

879,981

Creditors: Amounts falling due within one year

7

(253,037)

(243,047)

Net current assets

 

540,114

636,934

Total assets less current liabilities

 

640,863

773,739

Creditors: Amounts falling due after more than one year

7

(3,459)

(23,660)

Provisions for liabilities

(18,919)

(21,370)

Net assets

 

618,485

728,709

Capital and reserves

 

Called up share capital

94

100

Other reserves

12,384

12,384

Retained earnings

606,007

716,225

Shareholders' funds

 

618,485

728,709

For the financial period ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

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

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

PH Electrical Services Limited

(Registration number: 05376109)
Balance Sheet as at 31 August 2024

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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 15 November 2024 and signed on its behalf by:
 

.........................................
Mr P J Hesketh
Director

 

PH Electrical Services Limited

Notes to the Unaudited Financial Statements for the Period from 1 March 2023 to 31 August 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:
Standroyd Barn
Skipton Old Road
Colne
Lancashire
BB8 7AE

These financial statements were authorised for issue by the Board on 15 November 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.

Going concern

The financial statements have been prepared on a going concern basis.

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 and deferred 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.

 

PH Electrical Services Limited

Notes to the Unaudited Financial Statements for the Period from 1 March 2023 to 31 August 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

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.

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

Straight line 25%

Office equipment

Straight line 15%

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.

 

PH Electrical Services Limited

Notes to the Unaudited Financial Statements for the Period from 1 March 2023 to 31 August 2024

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

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.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

 

PH Electrical Services Limited

Notes to the Unaudited Financial Statements for the Period from 1 March 2023 to 31 August 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period was 8 (2023 - 9).

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 March 2023

27,650

30,479

287,959

346,088

Additions

-

158

56,417

56,575

Disposals

-

-

(126,869)

(126,869)

At 31 August 2024

27,650

30,637

217,507

275,794

Depreciation

At 1 March 2023

3,318

26,979

178,986

209,283

Charge for the period

829

1,625

58,533

60,987

Eliminated on disposal

-

-

(95,225)

(95,225)

At 31 August 2024

4,147

28,604

142,294

175,045

Carrying amount

At 31 August 2024

23,503

2,033

75,213

100,749

At 28 February 2023

24,332

3,500

108,973

136,805

Included within the net book value of land and buildings above is £23,503 (2023 - £24,332) in respect of freehold land and buildings.
 

5

Stocks

2024
£

2023
£

Work in progress

8,445

7,890

 

PH Electrical Services Limited

Notes to the Unaudited Financial Statements for the Period from 1 March 2023 to 31 August 2024

6

Debtors

2024
£

2023
£

Trade debtors

236,376

281,145

Prepayments

11,751

28,527

Other debtors

279,326

177,716

527,453

487,388

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

6,982

15,403

Trade creditors

 

139,511

179,985

Taxation and social security

 

41,746

30,873

Accruals and deferred income

 

64,293

15,350

Other creditors

 

505

1,436

 

253,037

243,047

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

3,459

23,660

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Hire purchase contracts

3,459

23,660

 

PH Electrical Services Limited

Notes to the Unaudited Financial Statements for the Period from 1 March 2023 to 31 August 2024

Current loans and borrowings

2024
£

2023
£

Hire purchase contracts

6,918

15,339

Other borrowings

64

64

6,982

15,403

The hire purchase contracts are secured on the assets concerned.

9

Related party transactions

Transactions with directors

2024

At 1 March 2023
£

Advances to director
£

Repayments by director
£

At 31 August 2024
£

Unsecured and repayable on demand with interest charged at the official rate.

136,690

466,397

(335,733)

267,354

 

2023

At 1 March 2022
£

Advances to director
£

Repayments by director
£

At 28 February 2023
£

Unsecured and repayable on demand with interest charged at the official rate.

141,505

225,185

(230,000)

136,690