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COMPANY REGISTRATION NUMBER: 02968438
P.A. Grant Electrical Contractors Limited
Filleted Unaudited Financial Statements
30 September 2024
P.A. Grant Electrical Contractors Limited
Financial Statements
Year ended 30 September 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
P.A. Grant Electrical Contractors Limited
Statement of Financial Position
30 September 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
18,783
2,633
Current assets
Stocks
327,569
313,148
Debtors
6
757,866
752,613
Cash at bank and in hand
2,875
2,875
------------
------------
1,088,310
1,068,636
Creditors: amounts falling due within one year
7
729,312
667,407
------------
------------
Net current assets
358,998
401,229
---------
---------
Total assets less current liabilities
377,781
403,862
Creditors: amounts falling due after more than one year
8
37,200
62,000
---------
---------
Net assets
340,581
341,862
---------
---------
Capital and reserves
Called up share capital
1,200
1,200
Profit and loss account
339,381
340,662
---------
---------
Shareholders funds
340,581
341,862
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
P.A. Grant Electrical Contractors Limited
Statement of Financial Position (continued)
30 September 2024
These financial statements were approved by the board of directors and authorised for issue on 16 June 2025 , and are signed on behalf of the board by:
P A Grant
Director
Company registration number: 02968438
P.A. Grant Electrical Contractors Limited
Notes to the Financial Statements
Year ended 30 September 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Danno House, 62 London Road, Canterbury, Kent, CT2 8JZ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
The turnover shown in the accounts represents amounts invoiced in the year and applications for payments made at the year end, exclusive of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Leasehold property
-
10% straight line
Fixtures and fittings
-
25% reducing balance
Motor vehicles
-
15% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Work in progress
Work in progress is valued on the basis of direct costs based on a normal level of activity of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
Pension costs
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contribution payable are charged up to the profit and loss account. Two directors are accruing benefits under money purchase schemes (2020: 2)
4. Employee numbers
The average number of persons employed by the company during the year amounted to 13 (2023: 15 ).
5. Tangible assets
Leasehold property
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 October 2023
61,866
101,605
163,471
Additions
19,000
19,000
--------
---------
--------
---------
At 30 September 2024
61,866
101,605
19,000
182,471
--------
---------
--------
---------
Depreciation
At 1 October 2023
61,866
98,972
160,838
Charge for the year
2,850
2,850
--------
---------
--------
---------
At 30 September 2024
61,866
98,972
2,850
163,688
--------
---------
--------
---------
Carrying amount
At 30 September 2024
2,633
16,150
18,783
--------
---------
--------
---------
At 30 September 2023
2,633
2,633
--------
---------
--------
---------
6. Debtors
2024
2023
£
£
Trade debtors
714,178
718,346
Amounts owed by group undertakings and undertakings in which the company has a participating interest
27,894
24,414
Other debtors
15,794
9,853
---------
---------
757,866
752,613
---------
---------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
379,185
439,466
Trade creditors
246,416
119,449
Social security and other taxes
13,163
14,064
Other creditors
90,548
94,428
---------
---------
729,312
667,407
---------
---------
Banks loans and overdrafts are secured by way of a fixed and floating charge over the property and undertakings of the company.
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
37,200
62,000
--------
--------
Banks loans and overdrafts are secured by way of a fixed and floating charge over the property and undertakings of the company.
9. Controlling party
The company's ultimate parent company is P. A. Grant Holding Company Limited . The registered address of the ultimate parent company is Danno House, 62 London Road, Canterbury, Kent, CT2 8JZ .