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Company registration number:
12391963
AYP Electrical Ltd
Unaudited Abridged Financial Statements for the period ended
31 December 2024
AYP Electrical Ltd
Officers and Professional Advisers
Period ended
31 December 2024
Director
Mr Aran Yates
Company secretary
Mr Aran Yates
Registered office
145 Norman Road
Barton Le Clay
Bedfordshire
MK45 4QG
United Kingdom
Accountant
D&M Management Accountants Ltd
Chartered Institute Of Management Accountants
Unit 1 Townsend Centre
Townsend Industrial Estate
Houghton Regis
Bedfordshire
LU55BQ
United Kingdom
Bank
Starling Bank
3rd floor
2 Finsbury Ave
London
EC2M 2PP
United Kingdom
AYP Electrical Ltd
Director's Report
Period ended
31 December 2024
The director presents the report and the unaudited
abridged financial statements
of the company for the period from 1 January 2024 to 31 December 2024.

Directors

The director who served the company during the period was as follows:
Mr Aran Yates

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on
21 January 2025
and signed on behalf of the board by:
Mr Aran Yates
Director
AYP Electrical Ltd
Report to the board of directors on the preparation of the unaudited statutory financial statements of AYP Electrical Ltd
Period ended
31 December 2024
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the
abridged financial statements
of
AYP Electrical Ltd
for the period ended
31 December 2024
which comprise the abridged income statement, statement of income and retained earnings, abridged statement of financial position and related notes from the company’s accounting records and from information and explanations you have given me.
As a practising member of the Chartered Institute of Management Accountants, I am subject to its ethical and other professional requirements which are detailed at http://www.cimaglobal.com/​.
This report is made solely to the Board of Directors of
AYP Electrical Ltd
, as a body, in accordance with the terms of my engagement letter dated 11 March 2020. My work has been undertaken solely to prepare for your approval the
abridged financial statements
of
AYP Electrical Ltd
and state those matters that I have agreed to state to the Board of Directors of
AYP Electrical Ltd
, as a body, in this report in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com/​. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than
AYP Electrical Ltd
and its Board of Directors, as a body, for my work or for this report.
It is your duty to ensure that
AYP Electrical Ltd
has kept adequate accounting records and to prepare statutory
abridged financial statements
that give a true and fair view of the assets, liabilities, financial position and profit of
AYP Electrical Ltd
. You consider that
AYP Electrical Ltd
is exempt from the statutory audit requirement for the period.
I have not been instructed to carry out an audit or a review of the abridged financial statements of AYP Electrical Ltd. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory abridged financial statements.
D&M Management Accountants Ltd
Chartered Institute Of Management Accountants
Unit 1 Townsend Centre
Townsend Industrial Estate
Houghton Regis
Bedfordshire
LU55BQ
United Kingdom
Date:
20 January 2025
AYP Electrical Ltd
Abridged Income Statement
Period ended
31 December 2024
Period from 1 Jan 2024 to 31 Dec 2024Period from 1 Jan 2023 to 31 Dec 2023
££
Gross profit
303,986
 
264,312
 
Distribution costs
(550
) -  
Administrative expenses
(271,545
)
(449,703
)
Operating profit/(loss)
31,891
 
(185,391
)
Other interest receivable and similar income -  
357
 
Interest payable and similar expenses
(10,732
)
(8,506
)
Profit/(loss) before tax
21,159
 
(193,540
)
Tax on profit/(loss)
2,544
 
12,726
 
Profit/(loss) for the financial period
23,703
 
(180,814
)
The company has no other recognised items of income or expense other than the results for the period as set out above.
AYP Electrical Ltd
Statement of Income and Retained Earnings
Period ended
31 December 2024
Period from 1 Jan 2024 to 31 Dec 2024Period from 1 Jan 2023 to 31 Dec 2023
££
Retained earnings at the start of the period
24,011
 
230,563
 
Profit/(loss) for the financial period
23,703
 
(180,814
)
Dividends declared and paid or payable during the period
(37,630
)
(25,738
)
Retained earnings at the end of the period
10,084
 
24,011
 
AYP Electrical Ltd
Abridged Statement of Financial Position
31 December 2024
31 Dec 202431 Dec 2023
Note££
Fixed assets    
Tangible assets 6
12,547
 
38,463
 
Current assets    
Stocks
3,500
 
1,500
 
Debtors
131,572
 
245,895
 
Investments
2,781
 
2,781
 
Cash at bank and in hand
21,136
 
20,734
 
158,989
 
270,910
 
Creditors: amounts falling due within one year 7
(132,484
)
(222,619
)
Net current assets
26,505
 
48,291
 
Total assets less current liabilities 39,052   86,754  
Creditors: amounts falling due after more than one year
(26,583
)
(57,814
)
Provisions for liabilities
(2,384
)
(4,928
)
Net assets
10,085
 
24,012
 
Capital and reserves    
Called up share capital
1
 
1
 
Profit and loss account
10,084
 
24,011
 
Shareholders funds
10,085
 
24,012
 
For the period ending
31 December 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 abridged financial statements for the period in question in accordance with section 476;
  • The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements.
All of the members have consented to the preparation of the abridged statement of financial position and the abridged income statement for the period ended
31 December 2024
in accordance with Section 444(2A) of the Companies Act 2006.
These
abridged financial statements
have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
These
abridged financial statements
were approved by the board of directors and authorised for issue on
21 January 2025
, and are signed on behalf of the board by:
Mr Aran Yates
Director
Company registration number:
12391963
AYP Electrical Ltd
Notes to the Abridged Financial Statements
Period ended
31 December 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
145 Norman Road
,
Barton Le Clay
,
Bedfordshire
,
MK45 4QG
, United Kingdom.

2 Statement of compliance

These
abridged financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
abridged financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
abridged financial statements
are prepared in sterling, which is the functional currency of the company.

Going concern

The financial statements are prepared on a going concern basis.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Plant and machinery
25% straight line
Office equipment
25% straight line
Fixtures and fittings
25% straight line

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured on an undiscounted basis at the tax rates that would apply in the periods in which timing differences are expected to reverse, based on tax rates and laws enacted at the statement of financial position date.

Provisions for liabilities

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

Operating leases

A lease is classified as an operating lease if it does not transfer substantially all the risks and rewards incidental to ownership. Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

4 Average number of employees

The average number of persons employed by the company during the period was
2
(2023:
5.00
).

5 Exceptional items

Period from 1 Jan 2024 to 31 Dec 2024Period from 1 Jan 2023 to 31 Dec 2023
££
Bad Debts 123,913   295,844  
The Bad debt figures included are due to a customer going into administration in the year ending 31st December 2023. The last of this bad debt is now not expected to be received and included in these financial statements for the year ending 31st December 2024

6 Fixed assets

Tangible assets
£
Cost  
At
1 January 2024
119,709
 
Additions
1,153
 
Disposals
(2,444
)
At
31 December 2024
118,418
 
Depreciation  
At
1 January 2024
81,246
 
Charge
26,354
 
Disposals
(1,729
)
At
31 December 2024
105,871
 
Carrying amount  
At
31 December 2024
12,547
 
At 31 December 2023
38,463
 

Fixed assets held at valuation

In respect of fixed assets held at valuation, the comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:

7 Creditors: amounts falling due within one year

AYP Electrical owes creditors the following amounts as loans at YE 31.12.2024:
Ultimate Asset Finance: £33,313.81
Starling Loan: £15,000.14
Motonovo Finance Lease: £8,981.43
Motonovo Finance Lease: £9,800.39
These loans are split between current creditors and non current creditors at 31st December 2024. The current liabilities are as follows:
Ultimate Asset Finance: £21,477.24
Starling Loan: £9999.96
Motonovo Finance Lease: £4320.84
Motonovo Finance Lease: £4714.80

8 Guarantees and other financial commitments

AYP Electrical has the the following financial commitments as at YE 31.12.2024:
Ultimate Asset Finance: £33,313.81
Starling Loan: £15,000.14
Motonovo Finance Lease: £8,981.43
Motonovo Finance Lease: £9,800.39

10 Controlling party

The director of the company Aran Yates is the ultimate controlling party of AYP Electrical Ltd and 100% shareholder.