Paul Welch Electrical Limited - Filleted accounts

Registered number

07138034

Paul Welch Electrical Limited

Filleted Accounts

31 March 2025

Paul Welch Electrical Limited
Registered number:		07138034
Balance Sheet
as at 31 March 2025

Notes			2025			2024
£				£
Fixed assets
Tangible assets	3		647,069			654,921

Current assets
Stocks		2,000			2,000
Debtors	4	16,133			27,257
Cash at bank and in hand		236,529			253,732
		254,662			282,989

Creditors: amounts falling due within one year	5	(127,452)			(209,049)

Net current assets			127,210			73,940

Total assets less current liabilities			774,279			728,861


Provisions for liabilities			(6,451)			(8,414)


Net assets			767,828			720,447

Capital and reserves
Called up share capital			1			1
Profit and loss account			767,827			720,446

Shareholder's funds			767,828			720,447

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




P Welch
Director
Approved by the board on 8 December 2025

Paul Welch Electrical Limited
Notes to the Accounts
for the year ended 31 March 2025


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Investment property
	Investment property is classsified as fixed assets. Properties are so classified according to the intention of the director. Investment property is shown at the open market value. The surplus or deficit arising from the annual revaluation is transferred to the investment revaluation reserve unless a deficit, or its reversal, on an individualinvestment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year. Investment properties are held for their investment potential and not for use by the company and so their value is of prime importance. No depreciation is provided as the director annually revalues them.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life, as follows:

	Plant and machinery			15-25% reducing balance
	Motor vehicles			25% reducing balance

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees					2025		2024
Number							Number

	Average number of persons employed by the company					2		2


3	Tangible fixed assets
		Land and buildings		Plant and machinery etc		Motor vehicles		Total
£			£		£		£
	Cost
	At 1 April 2024	621,267		13,129		32,990		667,386
	Additions	-		1,069		-		1,069
	Disposals	-		(500)		-		(500)
	At 31 March 2025	621,267		13,698		32,990		667,955

	Depreciation
	At 1 April 2024	-		11,777		688		12,465
	Charge for the year	-		581		8,247		8,828
	On disposals	-		(407)		-		(407)
	At 31 March 2025	-		11,951		8,935		20,886

	Net book value
	At 31 March 2025	621,267		1,747		24,055		647,069
	At 31 March 2024	621,267		1,352		32,302		654,921


4	Debtors					2025		2024
£							£

	Trade debtors					11,887		7,016
	Other debtors					4,246		20,241
						16,133		27,257


5	Creditors: amounts falling due within one year					2025		2024
£							£

	Trade creditors					4,465		5,856
	Taxation and social security costs					20,262		13,837
	Other creditors					102,725		189,356
						127,452		209,049


6	Related party transactions

	Included within creditors is £81,730 ( 2024 - £168,851) due to P Welch as the balance on his directors current account.

7	Controlling party

	The ultimate controlling party is P. Welch.

8	Other information

	Paul Welch Electrical Limited is a private company limited by shares and incorporated in England. Its registered office is:
	28 High Street
	Caister on Sea
	Great Yarmouth
	Norfolk
	NR30 5EP