A B Electrical Pewsey Limited 09008804 false 2023-05-01 2024-04-30 2024-04-30 The principal activity of the company is electrical contractors. Digita Accounts Production Advanced 6.30.9574.0 true 09008804 2023-05-01 2024-04-30 09008804 2024-04-30 09008804 bus:OrdinaryShareClass1 bus:OtherShareType 2024-04-30 09008804 core:RetainedEarningsAccumulatedLosses 2024-04-30 09008804 core:ShareCapital 2024-04-30 09008804 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-04-30 09008804 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-04-30 09008804 core:CurrentFinancialInstruments 2024-04-30 09008804 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 09008804 core:Non-currentFinancialInstruments core:AfterOneYear 2024-04-30 09008804 core:MotorVehicles 2024-04-30 09008804 core:OfficeEquipment 2024-04-30 09008804 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2024-04-30 09008804 bus:SmallEntities 2023-05-01 2024-04-30 09008804 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 09008804 bus:FilletedAccounts 2023-05-01 2024-04-30 09008804 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 09008804 bus:RegisteredOffice 2023-05-01 2024-04-30 09008804 bus:Director1 2023-05-01 2024-04-30 09008804 bus:Director2 2023-05-01 2024-04-30 09008804 bus:Director3 2023-05-01 2024-04-30 09008804 bus:OrdinaryShareClass1 bus:OtherShareType 2023-05-01 2024-04-30 09008804 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 09008804 core:ComputerEquipment 2023-05-01 2024-04-30 09008804 core:MotorVehicles 2023-05-01 2024-04-30 09008804 core:OfficeEquipment 2023-05-01 2024-04-30 09008804 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2023-05-01 2024-04-30 09008804 countries:UnitedKingdom 2023-05-01 2024-04-30 09008804 2023-04-30 09008804 core:MotorVehicles 2023-04-30 09008804 core:OfficeEquipment 2023-04-30 09008804 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2023-04-30 09008804 2022-05-01 2023-04-30 09008804 2023-04-30 09008804 bus:OrdinaryShareClass1 bus:OtherShareType 2023-04-30 09008804 core:RetainedEarningsAccumulatedLosses 2023-04-30 09008804 core:ShareCapital 2023-04-30 09008804 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-04-30 09008804 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-04-30 09008804 core:CurrentFinancialInstruments 2023-04-30 09008804 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 09008804 core:Non-currentFinancialInstruments core:AfterOneYear 2023-04-30 09008804 core:MotorVehicles 2023-04-30 09008804 core:OfficeEquipment 2023-04-30 09008804 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2023-04-30 09008804 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2022-05-01 2023-04-30 09008804 2022-04-30 09008804 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2022-04-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 09008804

A B Electrical Pewsey Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

A B Electrical Pewsey Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 11

 

A B Electrical Pewsey Limited

Company Information

Directors

Mr R J Franklin

Mr K E Franklin

Mr G J Wyatt

Registered office

Unit 18
Salisbury Road Business Park
Pewsey
Wiltshire
SN9 5PZ

Accountants

Numeric Accounting
Chartered Certified Accountants
Suite 1 The Portway Centre
Old Sarum Park
Old Sarum
Salisbury
Wiltshire
SP4 6EB

 

A B Electrical Pewsey Limited

(Registration number: 09008804)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

47,814

31,234

Current assets

 

Debtors

5

163,575

162,523

Cash at bank and in hand

 

45,448

83,508

 

209,023

246,031

Creditors: Amounts falling due within one year

6

(90,405)

(107,318)

Net current assets

 

118,618

138,713

Total assets less current liabilities

 

166,432

169,947

Creditors: Amounts falling due after more than one year

6

-

(5,425)

Provisions for liabilities

(9,085)

(6,409)

Net assets

 

157,347

158,113

Capital and reserves

 

Called up share capital

7

8

8

Retained earnings

157,339

158,105

Shareholders' funds

 

157,347

158,113

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.

Directors' 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 directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

A B Electrical Pewsey Limited

(Registration number: 09008804)
Balance Sheet as at 30 April 2024 (continued)

Approved and authorised by the Board on 2 January 2025 and signed on its behalf by:
 

.........................................
Mr R J Franklin
Director

.........................................
Mr K E Franklin
Director

.........................................
Mr G J Wyatt
Director

 

A B Electrical Pewsey 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 United Kingdom.

The address of its registered office is:
Unit 18
Salisbury Road Business Park
Pewsey
Wiltshire
SN9 5PZ

These financial statements were authorised for issue by the Board on 2 January 2025.

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 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.

 

A B Electrical Pewsey Limited

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

2

Accounting policies (continued)

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.

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

25% Reducing Balance

Computer Equipment

25% Reducing Balance

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.

 

A B Electrical Pewsey Limited

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

2

Accounting policies (continued)

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.

Financial instruments

Classification
A financial instrument is a contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity.
 Recognition and measurement
When a financial asset or financial liability is recognised initially, the entity shall measure it at the transaction price unless the arrangement constitutes, in effect, a financing transaction. An arrangement constitutes a financing transaction if payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

At the end of each reporting period, an entity shall measure all financial instruments which constitute a financing arrangement at fair value and recognise changes in fair value in profit or loss.

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2023 - 6).

 

A B Electrical Pewsey Limited

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

4

Tangible assets

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2023

1,050

83,720

84,770

Additions

559

24,915

25,474

At 30 April 2024

1,609

108,635

110,244

Depreciation

At 1 May 2023

897

52,639

53,536

Charge for the year

85

8,809

8,894

At 30 April 2024

982

61,448

62,430

Carrying amount

At 30 April 2024

627

47,187

47,814

At 30 April 2023

153

31,081

31,234

5

Debtors

Current

2024
£

2023
£

Trade debtors

142,136

140,679

Prepayments

1,588

8,483

Other debtors

19,851

13,361

 

163,575

162,523

6

Creditors

Creditors: amounts falling due within one year

 

A B Electrical Pewsey Limited

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

6

Creditors (continued)

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

5,425

13,020

Trade creditors

 

17,509

35,610

Taxation and social security

 

10,457

15,362

Accruals and deferred income

 

2,880

7,886

Other creditors

 

54,134

35,440

 

90,405

107,318

 

A B Electrical Pewsey Limited

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

6

Creditors (continued)

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

-

5,425

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

8

8

8

8

       

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Hire purchase contracts

-

5,425

Current loans and borrowings

2024
£

2023
£

Hire purchase contracts

5,425

13,020


Financial Commitments, Guarantees and Contingencies

The Company's total future obligation, regarding assets held under finance lease or hire purchase contracts, at the balance sheet date, including interest, is £5,835.30.

 

A B Electrical Pewsey Limited

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

9

Dividends

2024

2023

£

£

Interim dividend of £4,680.00 (2023 - £7,600.00) per ordinary share

37,440

60,800

 

 

10

Related party transactions

During the comparitive year, dividends of £4,000 were declared but not paid to Acorn Builders (Pewsey) Limited. This remains unpaid at the balance sheet date.

During the comparitive year, dividends of £26,400 were declared but not paid to ABP Management Services Limited. This remains unpaid at the balance sheet date.

During the current year, further dividends of £18,720 were declared to ABP Management Services Limited, This also remains unpaid at the Balance Sheet date.

Loans to related parties

2024

Entities with joint control or significant influence
£

Total
£

At start of period

(34,400)

(34,400)

Advanced

(18,720)

(18,720)

At end of period

(53,120)

(53,120)

2023

Entities with joint control or significant influence
£

Total
£

At start of period

(4,000)

(4,000)

Advanced

(30,400)

(30,400)

At end of period

(34,400)

(34,400)

Terms of loans to related parties

 

A B Electrical Pewsey Limited

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

10

Related party transactions (continued)

Loans to Acorn Builders (Pewsey) Limited and ABP Management Services Limited are interest free and repayable on demand.