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Registered number: 14366263
Power And Grid Engineering Ltd
Unaudited Financial Statements
For The Year Ended 30 September 2024
Deans
Gibson House Hurricane Court
Hurricane Close
Stafford
ST16 1GZ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 14366263
30 September 2024 30 September 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 11,595 3,963
Tangible Assets 5 1,344 608
12,939 4,571
CURRENT ASSETS
Work in progress 6 7,680 4,200
Debtors 7 20,032 6,024
Cash at bank and in hand 97,555 26,603
125,267 36,827
Creditors: Amounts Falling Due Within One Year 8 (36,069 ) (20,932 )
NET CURRENT ASSETS (LIABILITIES) 89,198 15,895
TOTAL ASSETS LESS CURRENT LIABILITIES 102,137 20,466
PROVISIONS FOR LIABILITIES
Deferred Taxation (2,976 ) -
NET ASSETS 99,161 20,466
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 99,061 20,366
SHAREHOLDERS' FUNDS 99,161 20,466
Page 1
Page 2
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr J C Ellis
Director
14 February 2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Power And Grid Engineering Ltd is a private company, limited by shares, registered in England & Wales.  The company's registered number and registered office address can be found on the Company Information page.
2. Accounting Policies
2.1. Basis of Preparation of 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.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below.  These policies have been consistently applied to all years presented unless otherwise stated.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of VAT and trade discounts.  The policies adopted for the recognition of turnover are as follows:
Rendering of services
When the outcome of a transaction can be estimated reliably, turnover from engineering services is recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to the date the service is provided.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measure at cost any accumulated amortisation and any accumulated impairment losses.
Software costs are being amortised evenly over their useful lives of five years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less accumulated depreciation.  Cost includes costs directly attributable to making the asset capable of operating as intended.  Depreciation is provided at the following rates in order to write off each asset over its estimated useful life.
Fixtures & Fittings 25% on reducing balance
Computer Equipment 25% on reducing balance
2.5. Stocks and Work in Progress
Stocks and work in progress are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all cost of purchase, cost of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula.  Provision is made for damaged, obsolete and slow-moving stock where appropriate.
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2.6. 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.
2.7. Pensions
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.8. Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 2)
4 2
4. Intangible Assets
Other
£
Cost
As at 1 October 2023 5,059
Additions 10,805
As at 30 September 2024 15,864
Amortisation
As at 1 October 2023 1,096
Provided during the period 3,173
As at 30 September 2024 4,269
Net Book Value
As at 30 September 2024 11,595
As at 1 October 2023 3,963
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5. Tangible Assets
Plant & Machinery etc.
£
Cost
As at 1 October 2023 833
Additions 1,184
As at 30 September 2024 2,017
Depreciation
As at 1 October 2023 225
Provided during the period 448
As at 30 September 2024 673
Net Book Value
As at 30 September 2024 1,344
As at 1 October 2023 608
6. Work in progress
30 September 2024 30 September 2023
£ £
Work in progress 7,680 4,200
7. Debtors
30 September 2024 30 September 2023
£ £
Due within one year
Trade debtors 19,837 6,024
Prepayments and accrued income 195 -
20,032 6,024
8. Creditors: Amounts Falling Due Within One Year
30 September 2024 30 September 2023
£ £
Corporation tax 21,867 3,708
VAT 9,006 4,258
Accruals and deferred income 1,946 -
Directors' loan accounts 3,250 12,966
36,069 20,932
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Page 6
9. Share Capital
30 September 2024 30 September 2023
Allotted, called up and fully paid £ £
100 Ordinary Shares of £ 1.00 each 100 100
Page 6