Company Registration No. 02220252 (England and Wales)
PEAK ELECTRICAL LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2024
PAGES FOR FILING WITH REGISTRAR
PM+M Solutions for Business LLP
Chartered Accountants
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB
PEAK ELECTRICAL LIMITED
COMPANY INFORMATION
Director
Mr B Parkinson
Company number
02220252
Registered office
151 The Avenue
Leigh
Lancashire
WN7 1JF
Accountants
PM+M Solutions for Business LLP
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB
PEAK ELECTRICAL LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
PEAK ELECTRICAL LIMITED
BALANCE SHEET
AS AT
31 OCTOBER 2024
31 October 2024
- 1 -
31 October 2024
30 April 2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
-
0
1,117
Current assets
Stocks
1,500
100
Debtors
5
2,936
5,740
Cash at bank and in hand
1,722
31,087
6,158
36,927
Creditors: amounts falling due within one year
6
(4,265)
(8,345)
Net current assets
1,893
28,582
Total assets less current liabilities
1,893
29,699
Provisions for liabilities
-
0
(212)
Net assets
1,893
29,487
Capital and reserves
Called up share capital
7
2
2
Profit and loss reserves
1,891
29,485
Total equity
1,893
29,487

For the financial period ended 31 October 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 of its financial statements for the period in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 11 February 2025
Mr B Parkinson
Director
Company registration number 02220252 (England and Wales)
PEAK ELECTRICAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2024
- 2 -
1
Accounting policies
Company information

Peak Electrical Limited is a private company limited by shares incorporated in England and Wales. The registered office is 151 The Avenue, Leigh, Lancashire, WN7 1JF.

1.1
Reporting period

The financial statements are presented for a period longer than one due to being the company's final reporting period to cessation of trade. As such, comparative amounts presented in the financial statements (including the related notes) are not entirely comparable.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.3
Turnover

Turnover represents the value of goods and services, excluding value added tax, provided during the year, for which the right to consideration has been obtained.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
15% on reducing balance
Fixtures and fittings
15% on reducing balance
Computers
33% on cost
Motor vehicles
25% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Stocks

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

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

PEAK ELECTRICAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 OCTOBER 2024
1
Accounting policies
(Continued)
- 3 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.7
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2024
2023
Number
Number
Total
1
2
3
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
-
0
1,847
Adjustments in respect of prior periods
-
0
(24)
Total current tax
-
0
1,823
PEAK ELECTRICAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 OCTOBER 2024
3
Taxation
2024
2023
£
£
(Continued)
- 4 -
Deferred tax
Origination and reversal of timing differences
(212)
(62)
Tax losses carried forward/(back)
(2,796)
-
0
Total deferred tax
(3,008)
(62)
Total tax (credit)/charge
(3,008)
1,761
4
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 May 2023
743
2,145
1,624
9,550
14,062
Disposals
(743)
(2,145)
(1,624)
(9,550)
(14,062)
At 31 October 2024
-
0
-
0
-
0
-
0
-
0
Depreciation and impairment
At 1 May 2023
726
1,850
1,624
8,745
12,945
Eliminated in respect of disposals
(726)
(1,850)
(1,624)
(8,745)
(12,945)
At 31 October 2024
-
0
-
0
-
0
-
0
-
0
Carrying amount
At 31 October 2024
-
0
-
0
-
0
-
0
-
0
At 30 April 2023
17
295
-
0
805
1,117
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
-
0
5,401
Other debtors
2,936
339
2,936
5,740
PEAK ELECTRICAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 OCTOBER 2024
- 5 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
599
1,737
Taxation and social security
-
0
4,008
Other creditors
3,666
2,600
4,265
8,345
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Shares of £1 each
2
2
2
2
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