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REGISTERED NUMBER: 03625461 (England and Wales)















P.S. ELECTRICAL SERVICES (1998) LTD

Unaudited Financial Statements for the Year Ended 31 October 2024






P.S. ELECTRICAL SERVICES (1998) LTD (REGISTERED NUMBER: 03625461)






Contents of the Financial Statements
for the year ended 31 October 2024




Page

Company Information 1

Accountants' Report 2

Balance Sheet 3 to 4

Notes to the Financial Statements 5 to 7


P.S. ELECTRICAL SERVICES (1998) LTD

Company Information
for the year ended 31 October 2024







Director: P E Ward





Registered office: Unit 17E
Bewdley Business Park
Longbank
Bewdley
Worcestershire
DY12 2TB





Registered number: 03625461 (England and Wales)





Accountants: Cooper Parry Advisory Limited
CUBO Birmingham
4th Floor
Two Chamberlain Square
Birmingham
West Midlands
B3 3AX

Accountants' Report to the Director
on the Unaudited Financial Statements of
P.S. Electrical Services (1998) Ltd

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of P.S. Electrical Services (1998) Ltd for the year ended 31 October 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

This report is made solely to the director of P.S. Electrical Services (1998) Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of P.S. Electrical Services (1998) Ltd and state those matters that we have agreed to state to the director of P.S. Electrical Services (1998) Ltd in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that P.S. Electrical Services (1998) Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of P.S. Electrical Services (1998) Ltd. You consider that P.S. Electrical Services (1998) Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of P.S. Electrical Services (1998) Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Cooper Parry Advisory Limited
CUBO Birmingham
4th Floor
Two Chamberlain Square
Birmingham
West Midlands
B3 3AX


Date: .............................................

P.S. ELECTRICAL SERVICES (1998) LTD (REGISTERED NUMBER: 03625461)

Balance Sheet
31 October 2024

2024 2023
Notes £ £ £
Fixed assets
Tangible assets 4 161,234 165,487

Current assets
Stocks 55,000 68,000
Debtors 5 78,637 36,472
Cash at bank and in hand 149,578 167,073
283,215 271,545
Creditors
Amounts falling due within one year 6 58,271 32,196
Net current assets 224,944 239,349
Total assets less current liabilities 386,178 404,836

Creditors
Amounts falling due after more than one year 7 (51,882 ) (55,305 )

Provisions for liabilities (15,527 ) (14,903 )
Net assets 318,769 334,628

Capital and reserves
Called up share capital 10 10
Retained earnings 318,759 334,618
Shareholders' funds 318,769 334,628

P.S. ELECTRICAL SERVICES (1998) LTD (REGISTERED NUMBER: 03625461)

Balance Sheet - continued
31 October 2024


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 6 December 2024 and were signed by:





P E Ward - Director


P.S. ELECTRICAL SERVICES (1998) LTD (REGISTERED NUMBER: 03625461)

Notes to the Financial Statements
for the year ended 31 October 2024

1. Statutory information

P.S. Electrical Services (1998) Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

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.
Freehold property - 2% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Going concern
The financial statements have been prepared on a going concern basis and no material uncertainties exist that impact on the company's ability to trade.

3. Employees and directors

The average number of employees during the year was 5 (2023 - 5 ) .

P.S. ELECTRICAL SERVICES (1998) LTD (REGISTERED NUMBER: 03625461)

Notes to the Financial Statements - continued
for the year ended 31 October 2024

4. Tangible fixed assets
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£ £ £ £ £
Cost
At 1 November 2023 115,000 180,150 14,800 74,702 384,652
Additions - 3,309 - 34,495 37,804
Disposals - - - (43,403 ) (43,403 )
At 31 October 2024 115,000 183,459 14,800 65,794 379,053
Depreciation
At 1 November 2023 9,124 166,317 14,186 29,538 219,165
Charge for year 2,300 3,957 153 14,446 20,856
Eliminated on disposal - (9,498 ) - (12,704 ) (22,202 )
At 31 October 2024 11,424 160,776 14,339 31,280 217,819
Net book value
At 31 October 2024 103,576 22,683 461 34,514 161,234
At 31 October 2023 105,876 13,833 614 45,164 165,487

5. Debtors: amounts falling due within one year
2024 2023
£ £
Trade debtors 73,400 30,787
Prepayments 5,237 5,685
78,637 36,472

6. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 6,677 6,678
Trade creditors 22,040 4,201
Tax 17,251 9,290
Social security and other taxes 1,235 2,070
VAT 8,892 7,781
Other creditors 426 426
Accrued expenses 1,750 1,750
58,271 32,196

7. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans - 1-2 years 6,648 6,648
Bank loans - 2-5 years 19,943 19,943
Bank loans more 5 yr by instal 25,291 28,714
51,882 55,305

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 25,291 28,714

P.S. ELECTRICAL SERVICES (1998) LTD (REGISTERED NUMBER: 03625461)

Notes to the Financial Statements - continued
for the year ended 31 October 2024

8. Secured debts

The following secured debts are included within creditors:

2024 2023
£ £
Bank loans 58,529 61,953

The companies bankers have a fixed and floating charge over the property dated 20 December 2019