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SPARKPRO ELECTRICAL LTD

(formerly PASK SERVICES LTD)

Registered Number
11551357
(England and Wales)

Unaudited Financial Statements for the Year ended
30 September 2024

SPARKPRO ELECTRICAL LTD
Company Information
for the year from 1 October 2023 to 30 September 2024

Director

J M PASK

Registered Address

1d Benbow Road
London
W6 0AT

Registered Number

11551357 (England and Wales)
SPARKPRO ELECTRICAL LTD
Balance Sheet as at
30 September 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets31,5042,005
1,5042,005
Current assets
Debtors48,61114,191
Cash at bank and on hand99,57078,751
108,18192,942
Creditors amounts falling due within one year5(25,721)(17,375)
Net current assets (liabilities)82,46075,567
Total assets less current liabilities83,96477,572
Creditors amounts falling due after one year6(26,583)(31,681)
Provisions for liabilities7(286)(381)
Net assets57,09545,510
Capital and reserves
Called up share capital22
Profit and loss account57,09345,508
Shareholders' funds57,09545,510
The financial statements were approved and authorised for issue by the Director on 22 April 2025, and are signed on its behalf by:
J M PASK
Director
Registered Company No. 11551357
SPARKPRO ELECTRICAL LTD
Notes to the Financial Statements
for the year ended 30 September 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
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 policy
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.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Revenue from rendering of services
Revenue 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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Plant and machinery25
Trade and other 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.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Trade and other 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.
2.Average number of employees

20242023
Average number of employees during the year11
3.Tangible fixed assets

Plant & machinery

Total

££
Cost or valuation
At 01 October 234,3724,372
At 30 September 244,3724,372
Depreciation and impairment
At 01 October 232,3672,367
Charge for year501501
At 30 September 242,8682,868
Net book value
At 30 September 241,5041,504
At 30 September 232,0052,005
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables8,61114,191
Total8,61114,191
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables1,501839
Bank borrowings and overdrafts5,1005,360
Taxation and social security16,7618,286
Other creditors2,3591,947
Accrued liabilities and deferred income-943
Total25,72117,375
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts26,58331,681
Total26,58331,681
7.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)286381
Total286381