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Registration number: 3176958

Power Saver Electrical Supplies Limited

Unaudited Financial Statements

for the Year Ended 30 April 2024

 

Power Saver Electrical Supplies Limited

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Power Saver Electrical Supplies Limited

(Registration number: 3176958)
Statement of Financial Position as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

151,108

215,946

Current assets

 

Stocks

6

897,524

934,513

Debtors

7

563,735

1,134,532

Cash at bank and in hand

 

71,091

236,633

 

1,532,350

2,305,678

Creditors: Amounts falling due within one year

8

(878,875)

(925,012)

Net current assets

 

653,475

1,380,666

Total assets less current liabilities

 

804,583

1,596,612

Provisions for liabilities

(14,752)

(18,380)

Net assets

 

789,831

1,578,232

Capital and reserves

 

Called up share capital

2

2

Retained earnings

789,829

1,578,230

Shareholders' funds

 

789,831

1,578,232

 

Power Saver Electrical Supplies Limited

(Registration number: 3176958)
Statement of Financial Position as at 30 April 2024

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 Income Statement.

Approved and authorised by the Board on 28 January 2025 and signed on its behalf by:
 

.........................................
Mr David Brimblecombe
Director

   
     
 

Power Saver Electrical Supplies 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 England and Wales.

The address of its registered office is:
Unit 1, Burnham Close
Burnham Trading Park
Burnley
Lancashire
BB11 4AJ

These financial statements were authorised for issue by the Board on 28 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.

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.

 

Power Saver Electrical Supplies Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 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 statement of financial position 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

Land and buildings

2% Straight line

Plant and machinery

30% Reducing balance

Motor vehicles

25% Reducing balance

Furniture and fittings

15% Reducing balance

Stocks

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

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.

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 year, was 16 (2023 - 16).

 

Power Saver Electrical Supplies Limited

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

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 May 2023

6,000

6,000

At 30 April 2024

6,000

6,000

Amortisation

At 1 May 2023

6,000

6,000

At 30 April 2024

6,000

6,000

Carrying amount

At 30 April 2024

-

-

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2023

161,145

193,158

187,731

542,034

Additions

-

12,154

25,555

37,709

Disposals

-

-

(113,234)

(113,234)

At 30 April 2024

161,145

205,312

100,052

466,509

Depreciation

At 1 May 2023

69,841

182,109

74,139

326,089

Charge for the year

3,223

3,158

25,142

31,523

Eliminated on disposal

-

-

(42,211)

(42,211)

At 30 April 2024

73,064

185,267

57,070

315,401

Carrying amount

At 30 April 2024

88,081

20,045

42,982

151,108

At 30 April 2023

91,304

11,050

113,592

215,946

 

Power Saver Electrical Supplies Limited

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

6

Stocks

2024
£

2023
£

Other inventories

897,524

934,513

7

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

419,946

396,773

Amounts owed by related parties

9

-

127

Prepayments

 

34,792

24,953

Other debtors

 

108,997

712,679

   

563,735

1,134,532

 

Power Saver Electrical Supplies Limited

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

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

517,960

587,278

Amounts owed to group undertakings and undertakings in which the company has a participating interest

9

80,042

84,245

Taxation and social security

 

263,070

213,601

Accruals and deferred income

 

16,219

37,956

Other creditors

 

1,584

1,932

 

878,875

925,012

9

Related party transactions

Transactions with directors

2024

At 1 May 2023
£

Advances to director
£

Repayments by director
£

Interest
£

At 30 April 2024
£

Mr David Brimblecombe

Advances to the Director, repayable on demand with interest charged at HMRC's approved rate

603,682

211,073

(823,045)

8,290

-

           
         

 

2023

At 1 May 2022
£

Advances to director
£

Repayments by director
£

Interest
£

At 30 April 2023
£

Mr David Brimblecombe

Advances to the Director, repayable on demand with interest charged at HMRC's approved rate

432,129

203,000

(42,714)

11,267

603,682

           
         

 

 

Power Saver Electrical Supplies Limited

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

10

Parent and ultimate parent undertaking

The company's immediate parent is Zodav Limited, incorporated in England and Wales. During the year there has been a change in ownership and the company's ultimate parent undertaking is Zodav (EOT) Limited, incorporated in England and Wales.