PP Electric Services Limited - Accounts to registrar (filleted) - small 23.2.5

PP Electric Services Limited - Accounts to registrar (filleted) - small 23.2.5

PP ELECTRIC SERVICES LIMITED - Company Information

Print Friendly Version

IRIS Accounts Production v23.4.0.336 04624814 Board of Directors Board of Directors 1.1.23 31.12.23 31.12.23 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh046248142022-12-31046248142023-12-31046248142023-01-012023-12-31046248142021-12-31046248142022-01-012022-12-31046248142022-12-3104624814ns15:EnglandWales2023-01-012023-12-3104624814ns14:PoundSterling2023-01-012023-12-3104624814ns10:Director12023-01-012023-12-3104624814ns10:Director22023-01-012023-12-3104624814ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3104624814ns10:SmallEntities2023-01-012023-12-3104624814ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-3104624814ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3104624814ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3104624814ns10:FullAccounts2023-01-012023-12-310462481412023-01-012023-12-3104624814ns10:CompanySecretary12023-01-012023-12-3104624814ns10:RegisteredOffice2023-01-012023-12-3104624814ns5:CurrentFinancialInstruments2023-12-3104624814ns5:CurrentFinancialInstruments2022-12-3104624814ns5:Non-currentFinancialInstruments2023-12-3104624814ns5:Non-currentFinancialInstruments2022-12-3104624814ns5:ShareCapital2023-12-3104624814ns5:ShareCapital2022-12-3104624814ns5:FurtherSpecificReserve3ComponentTotalEquity2023-12-3104624814ns5:FurtherSpecificReserve3ComponentTotalEquity2022-12-3104624814ns5:RetainedEarningsAccumulatedLosses2023-12-3104624814ns5:RetainedEarningsAccumulatedLosses2022-12-3104624814ns5:OwnedOrFreeholdAssetsns5:LandBuildings2023-01-012023-12-3104624814ns5:PlantMachinery2023-01-012023-12-3104624814ns5:MotorVehicles2023-01-012023-12-3104624814ns5:ComputerEquipment2023-01-012023-12-3104624814ns5:NetGoodwill2022-12-3104624814ns5:NetGoodwill2023-12-3104624814ns5:NetGoodwill2022-12-3104624814ns5:LandBuildings2022-12-3104624814ns5:PlantMachinery2022-12-3104624814ns5:LandBuildings2023-01-012023-12-3104624814ns5:LandBuildings2023-12-3104624814ns5:PlantMachinery2023-12-3104624814ns5:LandBuildings2022-12-3104624814ns5:PlantMachinery2022-12-3104624814ns5:CostValuation2022-12-3104624814ns5:RevaluationsIncreaseDecreaseInInvestments2023-12-3104624814ns5:CostValuation2023-12-3104624814ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3104624814ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3104624814ns5:CurrentFinancialInstruments2023-01-012023-12-3104624814ns5:DeferredTaxation2022-12-3104624814ns5:DeferredTaxation2023-01-012023-12-3104624814ns5:DeferredTaxation2023-12-3104624814ns5:FurtherSpecificReserve3ComponentTotalEquity2022-12-31
REGISTERED NUMBER: 04624814 (England and Wales)











Unaudited Financial Statements

for the Year Ended 31 December 2023

for

PP Electric Services Limited
PP Electric Services Limited (Registered number: 04624814)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PP Electric Services Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: D C Malpass
M Woodroof





SECRETARY: D C Malpass





REGISTERED OFFICE: 3 Brunel Business Court
Eastern Way
Bury St Edmunds
Suffolk
IP32 7AJ





REGISTERED NUMBER: 04624814 (England and Wales)





ACCOUNTANTS: Knights Lowe
Chartered Accountants
Eldo House, Kempson Way
Suffolk Business Park
Bury St Edmunds
Suffolk
IP32 7AR
Page 1
PP Electric Services Limited (Registered number: 04624814)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 7,224 8,471
Investments 6 31,237 30,932
38,461 39,403

CURRENT ASSETS
Stocks 1,010 4,248
Debtors 7 76,212 57,910
Cash at bank and in hand 50,107 44,692
127,329 106,850
CREDITORS
Amounts falling due within one year 8 72,743 65,252
NET CURRENT ASSETS 54,586 41,598
TOTAL ASSETS LESS CURRENT LIABILITIES 93,047 81,001

CREDITORS
Amounts falling due after more than one
year
9
(14,166
)
(24,167
)

PROVISIONS FOR LIABILITIES 10 (1,726 ) (1,535 )
NET ASSETS 77,155 55,299

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 11 9,632 9,327
Retained earnings 67,423 45,872
SHAREHOLDERS' FUNDS 77,155 55,299

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

The notes form part of these financial statements

Page 2 continued...
PP Electric Services Limited (Registered number: 04624814)

Balance Sheet - continued
31 December 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 April 2024 and were signed on its behalf by:




D C Malpass - Director



M Woodroof - Director


The notes form part of these financial statements

Page 3
PP Electric Services Limited (Registered number: 04624814)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

PP Electric Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Property improvements - 10 years straight line
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Page 4 continued...
PP Electric Services Limited (Registered number: 04624814)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as trade and other accounts receivable and payable, and loans from banks or other related parties.Debt instruments, such as loans and other accounts receivable and payable, are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received. However if the arrangements of a short-term instrument constitute a financing transaction, such as the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate, or in case of an outright short-term loan not at market rate, the financial asset or liability is measured, initially and subsequently, at the present value of the future payment discounted at a market rate of interest for a similar debt instrument.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Page 5 continued...
PP Electric Services Limited (Registered number: 04624814)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Impairment
At each reporting date, goodwill and other fixed assets, including tangible fixed assets and investments but excluding investment properties, are assessed to determine whether there is an indication that the carrying amount of an asset may be more than its recoverable amount and that the asset should be impaired. If there is an indication of possible impairment, the recoverable amount of an asset, which is the higher of its value in use and its net realisable value, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is written down to its estimated recoverable amount and an impairment loss is recognised in profit and loss.

Fixed asset investments
Fixed asset investments have been measured at fair value through a revaluation. The revaluation of investments has been measured as the difference between the historical cost of the investments and the market value at the balance sheet date.

Goodwill
Goodwill, being the amount paid in connection with the purchase of a business has been fully amortised.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 60,000
AMORTISATION
At 1 January 2023
and 31 December 2023 60,000
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

Page 6 continued...
PP Electric Services Limited (Registered number: 04624814)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023 10,786 32,110 42,896
Additions - 532 532
At 31 December 2023 10,786 32,642 43,428
DEPRECIATION
At 1 January 2023 10,786 23,639 34,425
Charge for year - 1,779 1,779
At 31 December 2023 10,786 25,418 36,204
NET BOOK VALUE
At 31 December 2023 - 7,224 7,224
At 31 December 2022 - 8,471 8,471

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 January 2023 30,932
Revaluations 305
At 31 December 2023 31,237
NET BOOK VALUE
At 31 December 2023 31,237
At 31 December 2022 30,932

Cost or valuation at 31 December 2023 is represented by:

Other
investments
£   
Valuation in 2021 2,837
Valuation in 2022 6,490
Valuation in 2023 305
Cost 21,605
31,237

Page 7 continued...
PP Electric Services Limited (Registered number: 04624814)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

6. FIXED ASSET INVESTMENTS - continued

If fixed asset investments had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 21,605 21,605

Fixed asset investments were valued on an open market value basis on 31 December 2023 by the directors .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 75,567 57,325
Other debtors 645 585
76,212 57,910

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 27,400 22,927
Taxation and social security 25,325 15,213
Other creditors 20,018 27,112
72,743 65,252

Other creditors includes an amount due to the directors.

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 14,166 24,167

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 1,726 1,535

Deferred
tax
£   
Balance at 1 January 2023 1,535
Charge to Income Statement during year 191
Balance at 31 December 2023 1,726

Page 8 continued...
PP Electric Services Limited (Registered number: 04624814)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

11. RESERVES
Fair
value
reserve
£   
At 1 January 2023 9,327
Non-distributable reserves 305

At 31 December 2023 9,632

The reserves in respect of investment revaluations are non distributable.

Page 9