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REGISTERED NUMBER: 13271061 (England and Wales)











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: S Kennedy
S M Thompson
B Kennedy





REGISTERED OFFICE: Priory House
479 Godstone Road
Whyteleafe
Surrey
CR3 0BL





REGISTERED NUMBER: 13271061 (England and Wales)





ACCOUNTANTS: Sargeant Partnership LLP
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 10,479 8,369

CURRENT ASSETS
Debtors 5 835,892 549,815
Cash in hand 100 100
835,992 549,915
CREDITORS
Amounts falling due within one year 6 695,625 460,696
NET CURRENT ASSETS 140,367 89,219
TOTAL ASSETS LESS CURRENT
LIABILITIES

150,846

97,588

PROVISIONS FOR LIABILITIES 7 2,620 1,590
NET ASSETS 148,226 95,998

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 9 148,126 95,898
SHAREHOLDERS' FUNDS 148,226 95,998

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

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

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 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 Board of Directors and authorised for issue on 31 January 2025 and were signed on its behalf by:





S Kennedy - Director


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 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
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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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 38 (2023 - 20 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2023 9,188
Additions 5,473
At 30 April 2024 14,661
DEPRECIATION
At 1 May 2023 819
Charge for year 3,363
At 30 April 2024 4,182
NET BOOK VALUE
At 30 April 2024 10,479
At 30 April 2023 8,369

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 225,230 442,737
Amounts owed by associates - 69,159
VAT 67,637 36,156
Accrued Income 539,131 -
Prepayments 3,894 1,763
835,892 549,815

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 45,577 43,702
Trade creditors 304,737 244,500
Amounts owed to associates 110,853 -
Tax 35,206 33,980
Social security and other taxes 85,593 31,314
Other creditors 109,068 66,196
Directors' loan accounts 36 1,872
Accruals and deferred income 4,555 39,132
695,625 460,696

7. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 2,620 1,590

Deferred
tax
£   
Balance at 1 May 2023 1,590
Provided during year 1,030
Deferred tax movement
Balance at 30 April 2024 2,620

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

9. RESERVES
Retained
earnings
£   

At 1 May 2023 95,898
Profit for the year 104,328
Dividends (52,100 )
At 30 April 2024 148,126

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.