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Registration number: 04790446

P.F.L. Electrical Ltd Unaudited Financial Statements for the Year Ended 30 June 2025
Brebners Chartered Accountants 130 Shaftesbury Avenue London W1D 5AR

P.F.L. Electrical Ltd

Contents

Company Information | 1
Statement of Financial Position | 2 to 3
Notes to the Unaudited Financial Statements | 4 to 8

P.F.L. Electrical Ltd

Company Information

Directors | J Higginson L Higginson

Registered office | 130 Shaftesbury Avenue London W1D 5EU

Accountants | Brebners Chartered Accountants 130 Shaftesbury Avenue London W1D 5AR

P.F.L. Electrical Ltd

Statement of Financial Position as at 30 June 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 443,549 | 179,214
Current assets |  |  |
Stocks | 5 | 98,939 | 104,586
Debtors | 6 | 3,757,213 | 2,255,980
Cash at bank and in hand |  | 434,042 | 282,853
|  | 4,290,194 | 2,643,419
Creditors: Amounts falling due within one year | 7 | (2,676,015) | (1,459,067)
Net current assets |  | 1,614,179 | 1,184,352
Total assets less current liabilities |  | 2,057,728 | 1,363,566
Creditors: Amounts falling due after more than one year | 7 | (275,045) | (112,999)
Provisions for liabilities |  | (110,886) | (37,412)
Net assets |  | 1,671,797 | 1,213,155
Capital and reserves |  |  |
Called up share capital |  | 250,000 | 250,000
Retained earnings |  | 1,421,797 | 963,155
Shareholders' funds |  | 1,671,797 | 1,213,155

For the financial year ending 30 June 2025 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 accounts for the year in question in accordance with section 476; and
• | The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

P.F.L. Electrical Ltd

Statement of Financial Position as at 30 June 2025

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

The directors of P.F.L. Electrical Ltd have elected not to include a copy of the Income Statement within the financial statements, in accordance with the special provisions relating to companies subject to the small companies regime within the Companies Act 2006, s444.

Approved and authorised by the Board on 13 October 2025 and signed on its behalf by:

.........................................

J Higginson

Director

Company registration number: 04790446

P.F.L. Electrical Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
130 Shaftesbury Avenue
London
W1D 5EU

The principal activity of the company is that of electrical engineers.

2 | Accounting policies

Statement of compliance

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' Section 1A and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Going concern

The company made a profit for the year ended 30 June 2025 and had net assets of £1,671,797 at that date, including cash at bank of £434,042.
The directors have considered the effect of the ongoing economic uncertainty in the UK and, although there is no certainty as to when it will end, the directors' view is that there will be no significant impact.
On the basis of the above, and after making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is shown net of Value Added Tax and trade discounts.
Turnover from electrical works is recognised based upon the contractual stage of completion of the work.

P.F.L. Electrical Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also
recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or
substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Furniture, fittings and equipment | 25% straight line
Motor vehicles | 25% reducing balance
Plant and Machinery | 25% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

P.F.L. Electrical Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Hire purchase

Assets held under hire purchase contracts are capitalised at the lesser of fair value or present value of minimum lease payments in the statement of financial position. The present value of the minimum lease payments is calculated using the interest rate implicit in the lease. A corresponding liability is recognised at the same value in the statement of financial position. The asset is then depreciated over its useful life.
The minimum lease payments are apportioned between the finance charge recognised in the income statement and the reduction of the outstanding liability using the effective interest method. The finance charge in each period is allocated so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold
sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If
contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3 | Staff numbers

The average number of persons employed by the company during the year, was 25 (2024 - 18).

P.F.L. Electrical Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

4 | Tangible assets

| Furniture, fittings and equipment £ | Motor vehicles £ | Plant and machinery £ | Total £
Cost or valuation
At 1 July 2024 | 53,075 | 293,880 | 13,585 | 360,540
Additions | 14,472 | 385,488 | 4,132 | 404,092
Disposals | - | (144,052) | - | (144,052)
At 30 June 2025 | 67,547 | 535,316 | 17,717 | 620,580
Depreciation
At 1 July 2024 | 46,549 | 125,920 | 8,857 | 181,326
Charge for the year | 3,525 | 59,562 | 1,586 | 64,673
Eliminated on disposal | - | (68,968) | - | (68,968)
At 30 June 2025 | 50,074 | 116,514 | 10,443 | 177,031
Carrying amount
At 30 June 2025 | 17,473 | 418,802 | 7,274 | 443,549
At 30 June 2024 | 6,526 | 167,960 | 4,728 | 179,214

5 | Stocks

| 2025 £ | 2024 £
Stock | 98,939 | 104,586

6 | Debtors

| 2025 £ | 2024 £
Trade debtors | 1,889,732 | 436,542
Amounts owed by group undertakings | 7,000 | -
Other debtors | 1,860,481 | 1,819,438
| 3,757,213 | 2,255,980

P.F.L. Electrical Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

7 | Creditors

Creditors: amounts falling due within one year

| Note | 2025 £ | 2024 £
Loans and borrowings | 8 | 131,150 | 58,600
Trade creditors |  | 1,716,779 | 767,610
Taxation and social security |  | 471,755 | 351,600
Other creditors |  | 356,331 | 281,257
|  | 2,676,015 | 1,459,067

Creditors: amounts falling due after more than one year

| Note | 2025 £ | 2024 £
Loans and borrowings | 8 | 275,045 | 112,999

8 | Loans and borrowings

| 2025 £ | 2024 £
Current loans and borrowings
Bank loans | 9,146 | 10,000
Hire purchase obligations | 122,004 | 48,198
Factoring facility | - | 402
| 131,150 | 58,600

| 2025 £ | 2024 £
Non-current loans and borrowings
Bank loans | - | 9,124
Hire purchase obligations | 275,045 | 103,875
| 275,045 | 112,999

Obligations under hire purchase contracts are secured on the assets concerned.