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  S & J ELECTRICAL LTD
   
   
   
  UNAUDITED FINANCIAL STATEMENTS
   
   
  FOR THE YEAR ENDED 31 DECEMBER 2021
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
  S & J ELECTRICAL LTD
  FINANCIAL STATEMENTS
  FOR THE YEAR ENDED 31 DECEMBER 2021
       
       
  DIRECTORS
       
  S Harding
  J Harding
       
       
  SECRETARY
       
  J Harding
       
  REGISTERED OFFICE
       
  25 Park Street West
Luton
Beds
LU1 3BE
       
       
  COMPANY REGISTERED NUMBER
       
  05654704
       
       
  BANKERS
       
  Barclays Bank Plc
       
       
  ACCOUNTANTS
       
  Haartwells Ltd
  Chartered Certified Accountants
  25 Park Street West
Luton
Bedfordshire
LU1 3BE
  page 1
  S & J ELECTRICAL LTD
  FINANCIAL STATEMENTS
  FOR THE YEAR ENDED 31 DECEMBER 2021
       
       
       
       
  CONTENTS
       
  Pages
       
       
  3-4 Statement of Financial Position  
       
       
  5-8 Notes to the Financial Statements  
       
     
  page 2
  S & J ELECTRICAL LTD
  Company registered number: 05654704
  STATEMENT OF FINANCIAL POSITION AT 31 December 2021
           
    Note 2021 2020
      £ £ £
  FIXED ASSETS
  Property, plant and equipment 3 14,716 18,243
  CURRENT ASSETS    
  Inventories   6,425 5,371
  Debtors 4 139,496 54,536
  Cash at bank and in hand   72,479 174,573
      218,400 234,480
  CREDITORS: Amounts falling due within one year 5 83,773 99,964
  NET CURRENT ASSETS   134,627 134,516
  TOTAL ASSETS LESS CURRENT LIABILITIES   149,343 152,759
           
  PROVISIONS FOR LIABILITIES   (236) (1,977)
  NET ASSETS   £149,107 £150,782
       
  CAPITAL AND RESERVES
  Called up share capital   2 2
  Retained earnings   149,105 150,780
  SHAREHOLDERS' FUNDS   £149,107 £150,782
       
  The notes on pages 5-8 form part of these financial statements
   
  page 3
  S & J ELECTRICAL LTD
  Company registered number: 05654704
  STATEMENT OF FINANCIAL POSITION AT 31 December 2021 (CONT.)
           
    Note 2021 2020
      £ £ £
       
       
  In approving these financial statements as directors of the company we hereby confirm the following:
       
  For the year in question the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
       
  The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with section 476 of the Companies Act 2006.
       
  The directors acknowledge their responsibilities for: 1) ensuring that the company keeps accounting records which comply with Sections 386 and 386 of the Companies Act 2006, and 2) preparing financial statements that give a true and fair view of the state of affairs of the company at at the end of each financial year and of its profit or loss for the 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 the financial statements, so far as they are applicable to the company.
 
 
  These financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies
       
  In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
       
  The financial statements were approved and authorised for issue by the board of directors on 26 July 2022
 
  Signed on behalf of the board of directors
 
 
       
  S Harding, Director
       
       
  The notes on pages 5-8 form part of these financial statements
   
  page 4
  S & J ELECTRICAL LTD
  NOTES TO THE ACCOUNTS
  FOR THE YEAR ENDED 31 DECEMBER 2021
       
 
1. SIGNIFICANT ACCOUNTING POLICIES
       
         
1a. Statement of compliance
         
  S & J Electrical Ltd is a Private Limited company incorporated in England and Wales..
         
  The company's registered number and registered office address can be found on the Company Information page.
         
  These financial statements are the first financial statements that comply with FRS 102. The date of transition is 1 January 2021.
         
  The transition to FRS 102 has resulted in a small number of changes in accounting policies to those used previously. The nature of these changes and their impact on opening equity and profit for the comparative period are explained in notes and below. These financial statements have been prepared in accordance with the provisions of Section 1A of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
         
 
         
  Basis of accounting
         
 
  The financial statements have been prepared under the historical cost convention. The presentation currency is £ sterling.
         
1c. Revenue recognition
         
  Income is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
         
1d. Borrowing costs
         
  Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets, which are assets that necessarily take a substantial period of time to get ready for their intended use or sale, are added to the cost of those assets, until such time as the assets are substantially ready for their intended use or sale. Investment income earned on the temporary investment of specific borrowings pending their expenditure on qualifying assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
         
 
  The notes on pages 5-8 form part of these financial statements
   
  page 5
  S & J ELECTRICAL LTD
  NOTES TO THE ACCOUNTS (CONT.)
  FOR THE YEAR ENDED 31 DECEMBER 2021
       
 
1. SIGNIFICANT ACCOUNTING POLICIES (CONT.)
         
1e. Taxation
         
  Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. The measurement of deferred tax liabilities and assets reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities. Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
         
 
         
 
       
1f. Property, plant and equipment
       
  Depreciation is provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life.
       
  Plant and machinery Reducing balance 25%  
  Vehicles Reducing balance 25%  
  Fixtures and fittings Reducing balance 25%  
  Equipment Reducing balance 25%  
         
1g. Inventories
         
  Stocks are stated at the lower of cost and net realisable value. Cost includes all costs incurred in bringing each product to its present location and condition.
         
         
1h. Short term debtors and creditors
         
  Debtors and creditors receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in profit and loss.
         
         
1i. Cash and cash equivalents
         
  Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. For the purpose of statement of cash flows, bank overdrafts which are repayable on demand form an integral part of the Company's cash management are included as a component of cash and cash equivalents.
         
 
  The notes on pages 5-8 form part of these financial statements
   
  page 6
  S & J ELECTRICAL LTD
  NOTES TO THE ACCOUNTS (CONT.)
  FOR THE YEAR ENDED 31 DECEMBER 2021
       
 
1. SIGNIFICANT ACCOUNTING POLICIES (CONT.)
         
1j. Interest bearing borrowings
         
  All interest-bearing loans and borrowings which are basic financial instruments are initially recognised at the present value of cash payable to the bank (including interest). After initial recognition they are measured at amortised cost using the effective interest rate method, less impairment. Any difference between the amount initially recognised and redemption value is recognised in profit and loss together with any interest and fees payable.
         
       
       
2. DIRECTORS AND EMPLOYEES
       
  The average weekly number of employees during the year were as follows:
    2021 2020
       
  Management and administration 3 3
  Production and sales 3 4
    6 7
   
         
3. PROPERTY, PLANT AND EQUIPMENT
    Plant & Fixtures &  
    Machinery Equipment Total
    £ £ £
  Cost
         
  At 1 January 2021 67,986 74,116 142,102
  Additions other than through business combinations - 1,378 1,378
         
  At 31 December 2021 67,986 75,494 143,480
   
  Depreciation
         
  At 1 January 2021 60,093 63,766 123,859
  For the year 1,973 2,932 4,905
  At 31 December 2021 62,066 66,698 128,764
   
  Net Book Amounts
         
  At 31 December 2021 5,920 8,796 14,716
  At 31 December 2020 7,893 10,350 18,243
   
  The notes on pages 5-8 form part of these financial statements
   
  page 7
  S & J ELECTRICAL LTD
  NOTES TO THE ACCOUNTS (CONT.)
  FOR THE YEAR ENDED 31 DECEMBER 2021
       
       
4. DEBTORS 2021 2020
    £ £
  Trade debtors 118,133 54,536
  Social security and other taxes 21,363 -
    £139,496 £54,536
   
       
       
5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
    2021 2020
    £ £
  Trade creditors 41,881 18,728
  Corporation tax 9,343 10,951
  Other taxes and social security 7,929 31,266
  Other creditors 23,770 38,269
  Accruals and deferred income 850 750
    £83,773 £99,964
   
       
  The notes on pages 5-8 form part of these financial statements
   
  page 8