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REGISTERED NUMBER: NI694574 (Northern Ireland)













PGS Electrical Holdings Ltd

Unaudited Financial Statements

for the Year Ended 31 July 2024






PGS Electrical Holdings Ltd (Registered number: NI694574)

Contents of the Financial Statements
for the Year Ended 31 July 2024










Page

Company information 1

Statement of financial position 2

Notes to the financial statements 3


PGS Electrical Holdings Ltd

Company Information
for the Year Ended 31 July 2024







Director: Mr P Segon





Registered office: 6 Velton Lawns
Laurelvale
Craigavon
Co Armagh
BT62 2PB





Registered number: NI694574 (Northern Ireland)





Accountants: Wylie Ruddell
Chartered Accountants
Armagh Business Centre
2 Loughgall Road
Armagh
BT61 7NH

PGS Electrical Holdings Ltd (Registered number: NI694574)

Statement of Financial Position
31 July 2024

2024 2023
Notes £ £
Fixed assets
Investments 4 1 1

Current assets
Cash at bank 5 431,580 170,665

Payables
Amounts falling due within one year 6 (2,163 ) (468 )
Net current assets 429,417 170,197
Total assets less current liabilities 429,418 170,198

Capital and reserves
Called up share capital 7 2 2
Retained earnings 429,416 170,196
Shareholders' funds 429,418 170,198

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 21 April 2025 and were signed by:





Mr P Segon - Director


PGS Electrical Holdings Ltd (Registered number: NI694574)

Notes to the Financial Statements
for the Year Ended 31 July 2024


1. Statutory information

PGS Electrical Holdings Ltd is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Preparation of consolidated financial statements
The financial statements contain information about PGS Electrical Holdings Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less impairment.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Receivables
Short term receivables are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Payables
Short term payables are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

PGS Electrical Holdings Ltd (Registered number: NI694574)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024


2. Accounting policies - continued

Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. Dividends on shares recognised as liabilities are recognised as expenses and classified within interest payable.

Provisions for liabilities
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation. Provisions are charged as an expense to the Statement of Comprehensive Income in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Statement of Financial Position date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties. When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position.

3. Employees and directors

The average number of employees during the year was 1 (2023 - 1 ) .

4. Fixed asset investments
Shares in
group
undertakings
£
Cost
At 1 August 2023
and 31 July 2024 1
Net book value
At 31 July 2024 1
At 31 July 2023 1

5. Cash at bank
2024 2023
£ £
Cash at bank 431,580 170,665

6. Payables: amounts falling due within one year
2024 2023
£ £
Taxation and social security 2,163 468

7. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
2 Ordinary 2 2 2