REGISTERED NUMBER: 04911628 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 October 2024

for

Mark Pritchard Electrical Services

Limited

Page

Balance Sheet

1

Notes to the Financial Statements

2

FIXED ASSETS

Tangible assets

4

79,050

98,702

Investments

5

-

120,000

Investment property

6

1,182,500

1,147,840

1,261,550

1,366,542

CURRENT ASSETS

Debtors

7

547,513

352,689

Cash at bank and in hand

1,874,210

509,755

2,421,723

862,444

CREDITORS

Amounts falling due within one year

8

99,890

191,468

NET CURRENT ASSETS

2,321,833

670,976

TOTAL ASSETS LESS CURRENT LIABILITIES

3,583,383

2,037,518

PROVISIONS FOR LIABILITIES

22,666

17,489

NET ASSETS

3,560,717

2,020,029

CAPITAL AND RESERVES

Called up share capital

100

100

Fair value reserve

9

116,768

90,197

Retained earnings

3,443,849

1,929,732

3,560,717

2,020,029

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 March 2025 and were signed by:

M Pritchard - Director

1.	STATUTORY INFORMATION

Mark Pritchard Electrical Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

04911628

Registered office:

67 Farndon Road

Newark

Nottinghamshire

NG24 4SQ

2.	ACCOUNTING POLICIES

Basis of preparing the 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 as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold

-

5% on cost

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

33% on reducing balance

Motor vehicles

-

25% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Short

Plant and

and

Motor

leasehold

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 November 2023

63,276

285

7,902

107,109

178,572

Additions

-

-

800

-

800

Disposals

-

-

(59

)

(3,437

)

(3,496

)

At 31 October 2024

63,276

285

8,643

103,672

175,876

DEPRECIATION

At 1 November 2023

34,776

201

3,943

40,950

79,870

Charge for year

3,163

17

733

16,539

20,452

Eliminated on disposal

-

-

(59

)

(3,437

)

(3,496

)

At 31 October 2024

37,939

218

4,617

54,052

96,826

NET BOOK VALUE

At 31 October 2024

25,337

67

4,026

49,620

79,050

At 31 October 2023

28,500

84

3,959

66,159

98,702

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 November 2023

120,000

Disposals

(120,000

)

At 31 October 2024

-

NET BOOK VALUE

At 31 October 2024

-

At 31 October 2023

120,000

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 November 2023

1,147,840

Revaluations

34,660

At 31 October 2024

1,182,500

NET BOOK VALUE

At 31 October 2024

1,182,500

At 31 October 2023

1,147,840

Fair value at 31 October 2024 is represented by:

£

Valuation in 2010

3,335

Valuation in 2011

10,000

Valuation in 2013

3,482

Valuation in 2015

42,496

Valuation in 2016

15,000

Valuation in 2018

29,761

Valuation in 2024

34,660

Cost

1,043,766

1,182,500

The director has reviewed the value of the properties at the year end on an open market basis and is satisfied that the carrying value of £1,182,500 reflects the fair value.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

403,249

104,776

Other debtors

144,264

247,913

547,513

352,689

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

5,976

34,587

Taxation and social security

87,475

150,255

Other creditors

6,439

6,626

99,890

191,468

9.

RESERVES

Fair

value

reserve

£

At 1 November 2023

90,197

Transfer

26,571

At 31 October 2024

116,768

10.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 October 2024 and 31 October 2023:

2024

2023

£

£

M Pritchard

Balance outstanding at start of year

4,725

277,201

Amounts advanced

2,572

2,836

Amounts repaid

-

(275,312

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

7,297

4,725