Acorah Software Products - Accounts Production 16.2.800 false true 31 December 2023 1 January 2023 false 1 January 2024 31 December 2024 31 December 2024 03056630 Mr Kevin Sloan Mr Paul Witham Mrs Anna Witham Mr Paul Witham iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 03056630 2023-12-31 03056630 2024-12-31 03056630 2024-01-01 2024-12-31 03056630 frs-core:CurrentFinancialInstruments 2024-12-31 03056630 frs-core:Non-currentFinancialInstruments 2024-12-31 03056630 frs-core:FurnitureFittings 2024-12-31 03056630 frs-core:FurnitureFittings 2024-01-01 2024-12-31 03056630 frs-core:FurnitureFittings 2023-12-31 03056630 frs-core:MotorVehicles 2024-12-31 03056630 frs-core:MotorVehicles 2024-01-01 2024-12-31 03056630 frs-core:MotorVehicles 2023-12-31 03056630 frs-core:ShareCapital 2024-12-31 03056630 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 03056630 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 03056630 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 03056630 frs-bus:SmallEntities 2024-01-01 2024-12-31 03056630 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 03056630 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 03056630 frs-bus:Director1 2024-01-01 2024-12-31 03056630 frs-bus:Director2 2024-01-01 2024-12-31 03056630 frs-bus:Director3 2024-01-01 2024-12-31 03056630 frs-bus:CompanySecretary1 2024-01-01 2024-12-31 03056630 frs-countries:EnglandWales 2024-01-01 2024-12-31 03056630 2022-12-31 03056630 2023-12-31 03056630 2023-01-01 2023-12-31 03056630 frs-core:CurrentFinancialInstruments 2023-12-31 03056630 frs-core:Non-currentFinancialInstruments 2023-12-31 03056630 frs-core:ShareCapital 2023-12-31 03056630 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31
Registered number: 03056630
PMS Electrical Services Limited
Financial Statements
For The Year Ended 31 December 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 03056630
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 13,119 5,520
13,119 5,520
CURRENT ASSETS
Stocks 5 8,640 5,760
Debtors 6 468,413 359,162
Cash at bank and in hand 583,544 195,037
1,060,597 559,959
Creditors: Amounts Falling Due Within One Year 7 (611,250 ) (300,569 )
NET CURRENT ASSETS (LIABILITIES) 449,347 259,390
TOTAL ASSETS LESS CURRENT LIABILITIES 462,466 264,910
Creditors: Amounts Falling Due After More Than One Year 8 (20,834 ) (70,834 )
NET ASSETS 441,632 194,076
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 441,532 193,976
SHAREHOLDERS' FUNDS 441,632 194,076
Page 1
Page 2
For the year ending 31 December 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 Paul Witham
Director
4 March 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
PMS Electrical Services Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03056630 . The registered office is Gothic House, Barker Gate, Nottingham, NG1 1JU.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 20% On Cost
Fixtures & Fittings 10% On cost
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 9 (2023: 9)
9 9
Page 3
Page 4
4. Tangible Assets
Motor Vehicles Fixtures & Fittings Total
£ £ £
Cost
As at 1 January 2024 - 18,232 18,232
Additions 8,380 1,967 10,347
As at 31 December 2024 8,380 20,199 28,579
Depreciation
As at 1 January 2024 - 12,712 12,712
Provided during the period 1,676 1,072 2,748
As at 31 December 2024 1,676 13,784 15,460
Net Book Value
As at 31 December 2024 6,704 6,415 13,119
As at 1 January 2024 - 5,520 5,520
5. Stocks
2024 2023
£ £
Stock 8,640 5,760
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 352,116 261,042
Prepayments and accrued income 41,931 2,044
Other debtors 15,943 5,000
Corporation tax recoverable assets - 81,076
VAT 48,423 -
Directors' loan accounts 10,000 10,000
468,413 359,162
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 416,585 184,324
Bank loans and overdrafts 50,000 50,000
Other creditors 9,342 27,478
Taxation and social security 135,323 38,767
611,250 300,569
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 20,834 70,834
Page 4
Page 5
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 5