Company Registration No. 07594744 (England and Wales)
Powerfactor Electrical Contractors Limited
Unaudited accounts
for the year ended 31 May 2025
Powerfactor Electrical Contractors Limited
Unaudited accounts
Contents
Powerfactor Electrical Contractors Limited
Company Information
for the year ended 31 May 2025
Company Number
07594744 (England and Wales)
Registered Office
Rear Dunmere Road
Torquay
TQ1 1LS
ENGLAND
Accountants
Mrs Catherine Flannery, FMAAT, FCCA, BSc (Hons)
South Devon Accounting Ltd
6 Orchard Close
Ogwell
Newton Abbot
TQ12 6AL
Powerfactor Electrical Contractors Limited
Statement of financial position
as at 31 May 2025
Intangible assets
10,500
12,000
Tangible assets
30,238
24,060
Cash at bank and in hand
-
9
Creditors: amounts falling due within one year
(37,797)
(29,270)
Net current liabilities
(25,946)
(17,133)
Total assets less current liabilities
14,792
18,927
Creditors: amounts falling due after more than one year
(8,683)
(4,574)
Provisions for liabilities
Deferred tax
(5,745)
(4,571)
Called up share capital
100
100
Profit and loss account
264
9,682
Shareholders' funds
364
9,782
For the year ending 31 May 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 10 September 2025 and were signed on its behalf by
Mr Richard Tyack
Director
Company Registration No. 07594744
Powerfactor Electrical Contractors Limited
Notes to the Accounts
for the year ended 31 May 2025
Powerfactor Electrical Contractors Limited is a private company, limited by shares, registered in England and Wales, registration number 07594744. The registered office is Rear Dunmere Road, Torquay, TQ1 1LS, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Goodwill, being the ammount paid in connection with the acquisition of the business in 2011, is being amortised evenly over its estmated life of twenty years.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Reducing Balance Basis
Motor vehicles
20% Reducing Balance Basis
Computer equipment
20% Reducing Balance Basis
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Powerfactor Electrical Contractors Limited
Notes to the Accounts
for the year ended 31 May 2025
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
4
Intangible fixed assets
Goodwill
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 June 2024
642
31,536
961
33,139
Additions
-
13,737
-
13,737
At 31 May 2025
642
45,273
961
46,876
At 1 June 2024
642
7,968
469
9,079
Charge for the year
-
7,461
98
7,559
At 31 May 2025
642
15,429
567
16,638
At 31 May 2025
-
29,844
394
30,238
At 31 May 2024
-
23,568
492
24,060
Amounts falling due within one year
Trade debtors
11,204
11,781
Accrued income and prepayments
147
147
Powerfactor Electrical Contractors Limited
Notes to the Accounts
for the year ended 31 May 2025
7
Creditors: amounts falling due within one year
2025
2024
Bank loans and overdrafts
5,949
9,363
Obligations under finance leases and hire purchase contracts
7,354
3,921
Trade creditors
1,953
5,831
Taxes and social security
5,040
4,402
Loans from directors
2,694
(7,197)
8
Creditors: amounts falling due after more than one year
2025
2024
Obligations under finance leases and hire purchase contracts
8,683
4,574
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
10
Average number of employees
During the year the average number of employees was 1 (2024: 1).