Registered number
09980021
Pelham Electrical Contractors Ltd
Filleted Accounts
31 December 2024
Pelham Electrical Contractors Ltd
Registered number: 09980021
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 43,631 6,414
Current assets
Debtors 4 77,438 43,699
Cash at bank and in hand 19,184 18,884
96,622 62,583
Creditors: amounts falling due within one year 5 (23,606) (38,794)
Net current assets 73,016 23,789
Total assets less current liabilities 116,647 30,203
Creditors: amounts falling due after more than one year 6 (53,423) (19,413)
Net assets 63,224 10,790
Capital and reserves
Called up share capital 100 100
Profit and loss account 63,124 10,690
Shareholders' funds 63,224 10,790
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Dave Potter
Director
Approved by the board on 3 February 2025
Pelham Electrical Contractors Ltd
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 January 2024 6,585 24,500 31,085
Additions - 51,486 51,486
At 31 December 2024 6,585 75,986 82,571
Depreciation
At 1 January 2024 4,531 20,140 24,671
Charge for the year 308 13,961 14,269
At 31 December 2024 4,839 34,101 38,940
Net book value
At 31 December 2024 1,746 41,885 43,631
At 31 December 2023 2,054 4,360 6,414
4 Debtors 2024 2023
£ £
Trade debtors 30,269 10,187
Other debtors 47,169 33,512
77,438 43,699
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors - 6,195
Taxation and social security costs 6,134 10,866
Directors Loan Account 15,372 18,983
Other creditors 2,100 2,750
23,606 38,794
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 11,242 19,413
Obligations under finance lease and hire purchase contracts 42,181 -
53,423 19,413
7 Other information
Pelham Electrical Contractors Ltd is a private company limited by shares and incorporated in England. Its registered office is:
13a Pelham Street
Ilkeston
Derbyshire
DE7 8AR
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