Positive Energy Electrical Limited
Registered number: 10876528
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 5,775 -
Current assets
Work in Progress 20,000 20,000
Debtors 4 - 19,500
Investments held as current assets 5 - 25,000
Cash at bank and in hand 3,784 5,239
23,784 69,739
Creditors: amounts falling due within one year 6 (29,451) (22,616)
Net current (liabilities)/assets (5,667) 47,123
Total assets less current liabilities 108 47,123
Creditors: amounts falling due after more than one year 7 - (46,047)
Net assets 108 1,076
Capital and reserves
Called up share capital 1 1
Profit and loss account 107 1,075
Shareholders' funds 108 1,076
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.
L.R. Mason
Director
Approved by the board on 19 March 2025
Positive Energy Electrical Limited
Notes to the Accounts
for the year ended 31 July 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.
Work in Progress
Work in Progress is measured at the lower of cost and estimated realisable value less costs to complete and invoice. Cost is determined using the first in first out method. Any amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
Additions 7,700
At 31 July 2024 7,700
Depreciation
Charge for the year 1,925
At 31 July 2024 1,925
Net book value
At 31 July 2024 5,775
4 Debtors 2024 2023
£ £
Other debtors - 19,500
5 Investments held as current assets 2024 2023
£ £
Fair value
Unlisted investments - 25,000
6 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 23,242 20,388
Other creditors 6,209 2,228
29,451 22,616
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans - 46,047
8 Other information
Positive Energy Electrical Limited is a private company limited by shares and incorporated in England. Its registered office is:
Holly House
220 New London Road
Chelmsford
CM2 9AE
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