Company Registration No. 07869851 (England and Wales)
Assured Electrical Services (Staffs) Ltd
Unaudited accounts
for the year ended 31 December 2021
Assured Electrical Services (Staffs) Ltd
Unaudited accounts
Contents
Assured Electrical Services (Staffs) Ltd
Company Information
for the year ended 31 December 2021
Directors
Justin Porter
James Steele
Company Number
07869851 (England and Wales)
Registered Office
56 Derek Drive
Sneyd Green
Stoke-on-Trent
Staffordshire
ST1 6BY
England
Accountants
James Accountancy Services Ltd
3 Waterloo Grove
Kidsgrove
Stoke-on-Trent
Staffordshire
ST7 4SY
Assured Electrical Services (Staffs) Ltd
Statement of financial position
as at 31 December 2021
Tangible assets
33,900
36,600
Cash at bank and in hand
37,565
50,140
Creditors: amounts falling due within one year
(27,615)
(51,350)
Net current assets
16,916
7,280
Total assets less current liabilities
50,816
43,880
Creditors: amounts falling due after more than one year
(27,917)
(36,878)
Provisions for liabilities
Deferred tax
(6,441)
(6,954)
Called up share capital
2
2
Profit and loss account
16,456
46
Shareholders' funds
16,458
48
For the year ending 31 December 2021 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 directors acknowledge their 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 of Directors and authorised for issue on 12 August 2022 and were signed on its behalf by
Justin Porter
Director
Company Registration No. 07869851
Assured Electrical Services (Staffs) Ltd
Notes to the Accounts
for the year ended 31 December 2021
Assured Electrical Services (Staffs) Ltd is a private company, limited by shares, registered in England and Wales, registration number 07869851. The registered office is 56 Derek Drive, Sneyd Green, Stoke-on-Trent, Staffordshire, ST1 6BY, 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 where applicable.
The accounts are presented in £ sterling.
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 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
10% reducing balance method.
Motor vehicles
15% reducing balance method.
Computer equipment
10% reducing balance method.
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.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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.
Assured Electrical Services (Staffs) Ltd
Notes to the Accounts
for the year ended 31 December 2021
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.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 January 2021
9,173
47,400
4,654
61,227
At 31 December 2021
9,173
47,400
4,654
61,227
At 1 January 2021
5,173
17,900
1,554
24,627
Charge for the year
600
1,500
600
2,700
At 31 December 2021
5,773
19,400
2,154
27,327
At 31 December 2021
3,400
28,000
2,500
33,900
At 31 December 2020
4,000
29,500
3,100
36,600
5
Debtors: amounts falling due within one year
2021
2020
6
Creditors: amounts falling due within one year
2021
2020
Bank loans and overdrafts
337
1,146
Obligations under finance leases and hire purchase contracts
6,472
11,279
Trade creditors
2,032
5,908
Taxes and social security
18,078
32,251
Loans from directors
96
166
Assured Electrical Services (Staffs) Ltd
Notes to the Accounts
for the year ended 31 December 2021
7
Creditors: amounts falling due after more than one year
2021
2020
Obligations under finance leases and hire purchase contracts
406
6,878
8
Deferred taxation
2021
2020
Accelerated capital allowances
6,441
6,954
Provision at start of year
6,954
6,543
(Credited)/charged to the profit and loss account
(513)
411
Provision at end of year
6,441
6,954
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2
2
10
Average number of employees
During the year the average number of employees was 5 (2020: 4).