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REGISTERED NUMBER: 07547229 (England and Wales)















Lenwade Electrical Services Ltd

Unaudited Financial Statements

for the year ended

28 February 2022






Lenwade Electrical Services Ltd (Registered number: 07547229)

Contents of the Financial Statements
for the year ended 28 February 2022










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 4

Chartered Accountants' Report 5

Lenwade Electrical Services Ltd

Company Information
for the year ended 28 February 2022







DIRECTOR: K E Wright





REGISTERED OFFICE: Thistledew Whitwell Road
Sparham
Norwich
Norfolk
NR9 5PN





REGISTERED NUMBER: 07547229 (England and Wales)





ACCOUNTANTS: Haines Watts
Chartered Accountants
Yare House
62-64 Thorpe Road
Norwich
Norfolk
NR1 1RY

Lenwade Electrical Services Ltd (Registered number: 07547229)

Balance Sheet
28 February 2022

2022 2021
Notes £    £   
FIXED ASSETS
Intangible assets 4 1,920 2,880
Tangible assets 5 2,013 2,516
3,933 5,396

CURRENT ASSETS
Stocks 31,200 52,000
Debtors 6 24,192 44,351
Cash at bank - 11,117
55,392 107,468
CREDITORS
Amounts falling due within one year 7 (57,823 ) (49,437 )
NET CURRENT (LIABILITIES)/ASSETS (2,431 ) 58,031
TOTAL ASSETS LESS CURRENT LIABILITIES 1,502 63,427

CREDITORS
Amounts falling due after more than one year 8 - (32,760 )

PROVISIONS FOR LIABILITIES (382 ) -
NET ASSETS 1,120 30,667

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,020 30,567
SHAREHOLDERS' FUNDS 1,120 30,667

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 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 director and authorised for issue on 5 August 2022 and were signed by:





K E Wright - Director


Lenwade Electrical Services Ltd (Registered number: 07547229)

Notes to the Financial Statements
for the year ended 28 February 2022


1. STATUTORY INFORMATION

Lenwade Electrical Services Ltd 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.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of thirteen years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance

Government grants
Grants are accounted for under the accruals model as permitted by FRS 102.

Grants of a revenue nature are recognised in other income within profit or loss. This includes the Government Coronavirus Job Retention Scheme ('Furlough').

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 2 ) .

Lenwade Electrical Services Ltd (Registered number: 07547229)

Notes to the Financial Statements - continued
for the year ended 28 February 2022


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2021
and 28 February 2022 8,000
AMORTISATION
At 1 March 2021 5,120
Amortisation for year 960
At 28 February 2022 6,080
NET BOOK VALUE
At 28 February 2022 1,920
At 28 February 2021 2,880

5. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 March 2021
and 28 February 2022 19,495
DEPRECIATION
At 1 March 2021 16,979
Charge for year 503
At 28 February 2022 17,482
NET BOOK VALUE
At 28 February 2022 2,013
At 28 February 2021 2,516

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 16,958 43,385
Other debtors 7,234 966
24,192 44,351

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 2,726 5,040
Trade creditors 7,992 8,360
Taxation and social security 2,463 8,426
Other creditors 44,642 27,611
57,823 49,437

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022 2021
£    £   
Bank loans - 32,760

9. RELATED PARTY DISCLOSURES

At the end of the year the company owed a director £42,732 (2021 - £24,435) by way of an interest free loan with no set repayment terms.

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Lenwade Electrical Services Ltd


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Lenwade Electrical Services Ltd for the year ended 28 February 2022 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Lenwade Electrical Services Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Lenwade Electrical Services Ltd and state those matters that we have agreed to state to the director of Lenwade Electrical Services Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Lenwade Electrical Services Ltd and its director for our work or for this report.

It is your duty to ensure that Lenwade Electrical Services Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Lenwade Electrical Services Ltd. You consider that Lenwade Electrical Services Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Lenwade Electrical Services Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Haines Watts
Chartered Accountants
Yare House
62-64 Thorpe Road
Norwich
Norfolk
NR1 1RY


5 August 2022