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REGISTERED NUMBER: 12032181 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

PSN Electrical Limited

PSN Electrical Limited (Registered number: 12032181)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PSN Electrical Limited

Company Information
for the Year Ended 30 June 2024







DIRECTOR: P Newton





REGISTERED OFFICE: 373 Finchampstead Road
Finchampstead
Wokingham
Berkshire
RG40 3JU





REGISTERED NUMBER: 12032181 (England and Wales)





ACCOUNTANTS: J.Y. Limited
Rangefield Court
Farnham Trading Estate
Farnham
Surrey
GU9 9NP

PSN Electrical Limited (Registered number: 12032181)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,716 6,796

CURRENT ASSETS
Stocks 1,200 1,650
Debtors 5 120,813 189,392
Cash at bank 19,441 11,862
141,454 202,904
CREDITORS
Amounts falling due within one year 6 68,035 104,780
NET CURRENT ASSETS 73,419 98,124
TOTAL ASSETS LESS CURRENT
LIABILITIES

79,135

104,920

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 79,035 104,820
SHAREHOLDERS' FUNDS 79,135 104,920

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 January 2025 and were signed by:





P Newton - Director


PSN Electrical Limited (Registered number: 12032181)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

PSN Electrical Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 - 25% on cost
Fixtures and fittings - 25% on cost
Computer equipment - 33% on cost

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

PSN Electrical Limited (Registered number: 12032181)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 July 2023 5,655 1,437 2,670 9,762
Additions - 340 - 340
At 30 June 2024 5,655 1,777 2,670 10,102
DEPRECIATION
At 1 July 2023 724 622 1,620 2,966
Charge for year 210 450 760 1,420
At 30 June 2024 934 1,072 2,380 4,386
NET BOOK VALUE
At 30 June 2024 4,721 705 290 5,716
At 30 June 2023 4,931 815 1,050 6,796

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 35,416 131,419
Other debtors 85,397 57,973
120,813 189,392

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade creditors 30,441 33,195
Taxation and social security 31,590 65,056
Other creditors 6,004 6,529
68,035 104,780

7. RELATED PARTY DISCLOSURES

At the balance sheet date the Other Debtors figure of £81,213 (2023-£51,609) is money owing from Newton Developments Limited, a company related by common control and ownership.

At the balance sheet date the Other Creditors figure of £4,000 (2023-£4,000) is money owed to Greenpath Constuction Limited, a company related by common control and ownership.


Dividends are paid to the director, Mr P Newton by virtue of his shareholding in the company.

8. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is P Newton.