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REGISTERED NUMBER: 07059715 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

POWER DISTRIBUTION SPECIALISTS LTD

POWER DISTRIBUTION SPECIALISTS LTD (REGISTERED NUMBER: 07059715)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 September 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


POWER DISTRIBUTION SPECIALISTS LTD

COMPANY INFORMATION
for the year ended 30 September 2024







DIRECTORS: P J Cook
M R Mountford-Platts
B T Ratcliffe
R J L Scales





REGISTERED OFFICE: Unit 7c Crondal Road
Exhall
Coventry
CV7 9NH





REGISTERED NUMBER: 07059715 (England and Wales)





ACCOUNTANTS: Magma Audit LLP
16 Davy Court
Castle Mound Way
Rugby, CV23 0UZ
Magma Audit LLP is part
Of the Dains Group

POWER DISTRIBUTION SPECIALISTS LTD (REGISTERED NUMBER: 07059715)

BALANCE SHEET
30 September 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 779,237 640,189

CURRENT ASSETS
Stocks 119,034 57,565
Debtors 5 979,056 609,289
Cash at bank 90,337 212,781
1,188,427 879,635
CREDITORS
Amounts falling due within one year 6 (858,383 ) (753,630 )
NET CURRENT ASSETS 330,044 126,005
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,109,281

766,194

CREDITORS
Amounts falling due after more than one
year

7

(234,466

)

(165,200

)

PROVISIONS FOR LIABILITIES (55,573 ) (74,647 )
NET ASSETS 819,242 526,347

CAPITAL AND RESERVES
Called up share capital 150 150
Share premium 10,950 10,950
Capital redemption reserve 50 50
Retained earnings 808,092 515,197
SHAREHOLDERS' FUNDS 819,242 526,347

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

POWER DISTRIBUTION SPECIALISTS LTD (REGISTERED NUMBER: 07059715)

BALANCE SHEET - continued
30 September 2024


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 May 2025 and were signed on its behalf by:





P J Cook - Director


POWER DISTRIBUTION SPECIALISTS LTD (REGISTERED NUMBER: 07059715)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 September 2024


1. STATUTORY INFORMATION

Power Distribution Specialists Ltd is a limited company, limited by shares, registered in England and Wales. The company's registered number is 07059715 and registered office address is Unit 7c, Crondal Road, Exhall, Coventry, Warwickshire, CV7 9NH.

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.

The presentation currency of the financial statements is Pound Sterling (£) and figures are rounded to the nearest £1.

Turnover
Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

Tangible fixed assets
Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter:

Freehold property-Held at cost not depreciated
Plant and machinery -20% on cost
Motor vehicles -25% on reducing balance
Computer equipment -33% on reducing balance

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

POWER DISTRIBUTION SPECIALISTS LTD (REGISTERED NUMBER: 07059715)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 September 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
(i) Financial assets

Basic financial assets, including trade and other debtors, cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest rate method.

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Taxation
The tax expense for the year comprises current and deferred tax.

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:

-The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Operating leases
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

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.

Related party disclosures
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2023 - 18 ) .

POWER DISTRIBUTION SPECIALISTS LTD (REGISTERED NUMBER: 07059715)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 September 2024


4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 October 2023 333,097 608,982 942,079
Additions 24,923 212,452 237,375
Disposals - (41,364 ) (41,364 )
At 30 September 2024 358,020 780,070 1,138,090
DEPRECIATION
At 1 October 2023 - 301,890 301,890
Charge for year - 94,996 94,996
Eliminated on disposal - (38,033 ) (38,033 )
At 30 September 2024 - 358,853 358,853
NET BOOK VALUE
At 30 September 2024 358,020 421,217 779,237
At 30 September 2023 333,097 307,092 640,189

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 October 2023 198,602
Additions 164,362
At 30 September 2024 362,964
DEPRECIATION
At 1 October 2023 73,656
Charge for year 44,423
At 30 September 2024 118,079
NET BOOK VALUE
At 30 September 2024 244,885
At 30 September 2023 124,946

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 702,021 526,461
Amounts owed by group undertakings 150,718 41,081
Other debtors 126,317 41,747
979,056 609,289

POWER DISTRIBUTION SPECIALISTS LTD (REGISTERED NUMBER: 07059715)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 September 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 21,548 19,101
Hire purchase contracts (see note 8) 53,108 35,460
Trade creditors 145,190 421,011
Taxation and social security 272,978 79,112
Other creditors 365,559 198,946
858,383 753,630

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 85,143 98,331
Hire purchase contracts (see note 8) 149,323 66,869
234,466 165,200

8. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2024 2023
£    £   
Net obligations repayable:
Within one year 53,108 35,460
Between one and five years 149,323 66,869
202,431 102,329