REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2024 |
FOR |
PRIORY ELECTRICAL SERVICES LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2024 |
FOR |
PRIORY ELECTRICAL SERVICES LIMITED |
PRIORY ELECTRICAL SERVICES LIMITED (REGISTERED NUMBER: 13271061) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
PRIORY ELECTRICAL SERVICES LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 APRIL 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
5 White Oak Square |
London Road |
Swanley |
Kent |
BR8 7AG |
PRIORY ELECTRICAL SERVICES LIMITED (REGISTERED NUMBER: 13271061) |
BALANCE SHEET |
30 APRIL 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 7 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Retained earnings | 9 |
SHAREHOLDERS' FUNDS |
The directors acknowledge their 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. |
PRIORY ELECTRICAL SERVICES LIMITED (REGISTERED NUMBER: 13271061) |
BALANCE SHEET - continued |
30 APRIL 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
PRIORY ELECTRICAL SERVICES LIMITED (REGISTERED NUMBER: 13271061) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2024 |
1. | STATUTORY INFORMATION |
Priory Electrical Services Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Revenue is recognised at the point when an application is raised. The application is either accepted or subsequently adjusted once discussed with the customer. Once this has been agreed the payment certificate and invoice are raised. |
Tangible fixed assets |
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. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
PRIORY ELECTRICAL SERVICES LIMITED (REGISTERED NUMBER: 13271061) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2024 |
2. | ACCOUNTING POLICIES - continued |
Accrued income |
Accrued income is generated when an application for payment is issued but the payment certificate is issued after date. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 May 2023 |
Additions |
At 30 April 2024 |
DEPRECIATION |
At 1 May 2023 |
Charge for year |
At 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Amounts owed by associates |
VAT |
Accrued Income |
Prepayments |
PRIORY ELECTRICAL SERVICES LIMITED (REGISTERED NUMBER: 13271061) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2024 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Amounts owed to associates | 110,853 | - |
Tax |
Social security and other taxes |
Other creditors |
Directors' loan accounts | 36 | 1,872 |
Accruals and deferred income |
7. | PROVISIONS FOR LIABILITIES |
2024 | 2023 |
£ | £ |
Deferred tax |
Accelerated capital allowances | 2,620 | 1,590 |
Deferred |
tax |
£ |
Balance at 1 May 2023 |
Provided during year |
Deferred tax movement |
Balance at 30 April 2024 |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
9. | RESERVES |
Retained |
earnings |
£ |
At 1 May 2023 |
Profit for the year |
Dividends | ( |
) |
At 30 April 2024 |
PRIORY ELECTRICAL SERVICES LIMITED (REGISTERED NUMBER: 13271061) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2024 |
10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
At the balance sheet date the company owes director S Thompson £34 (2023: £624). |
At the balance sheet date the company owes director S Kennedy £NIL (2023: £624). |
At the balance sheet date the company owes director B Kennedy £NIL 2023: £624). |
11. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling parties are S Thompson and S Kennedy by virtue of their shareholdings. |