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REGISTERED NUMBER: 03302078 (England and Wales)
























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2023

FOR

HOBBS ELECTRICAL SERVICES LIMITED

HOBBS ELECTRICAL SERVICES LIMITED (REGISTERED NUMBER: 03302078)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HOBBS ELECTRICAL SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2023







DIRECTOR: J Hobbs





REGISTERED OFFICE: 7a St Pauls Court
Stony Stratford
Buckinghamshire
MK11 1LJ





REGISTERED NUMBER: 03302078 (England and Wales)





ACCOUNTANTS: TC Group
4 Office Village
Forder Way
Cygnet Park, Hampton
Peterborough
Cambridgeshire
PE7 8GX

HOBBS ELECTRICAL SERVICES LIMITED (REGISTERED NUMBER: 03302078)

BALANCE SHEET
31 JANUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 3,000,000 -
Tangible assets 5 75,035 80,563
3,075,035 80,563

CURRENT ASSETS
Stocks 10,000 10,000
Debtors 6 1,674,571 1,306,470
Cash at bank 186,478 386,081
1,871,049 1,702,551
CREDITORS
Amounts falling due within one year 7 1,505,449 768,938
NET CURRENT ASSETS 365,600 933,613
TOTAL ASSETS LESS CURRENT LIABILITIES 3,440,635 1,014,176

CREDITORS
Amounts falling due after more than
one year

8

(2,270,637

)

(14,137

)

PROVISIONS FOR LIABILITIES 9 (19,337 ) (15,307 )
NET ASSETS 1,150,661 984,732

CAPITAL AND RESERVES
Called up share capital 10 91 90
Capital redemption reserve 10 10
Retained earnings 1,150,560 984,632
SHAREHOLDERS' FUNDS 1,150,661 984,732

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

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

HOBBS ELECTRICAL SERVICES LIMITED (REGISTERED NUMBER: 03302078)

BALANCE SHEET - continued
31 JANUARY 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 director and authorised for issue on 6 October 2023 and were signed by:





J Hobbs - Director


HOBBS ELECTRICAL SERVICES LIMITED (REGISTERED NUMBER: 03302078)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023


1. STATUTORY INFORMATION

Hobbs Electrical 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.

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 2023, is being amortised evenly over its estimated useful life of fifteen 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 etc - 15% 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.

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.

HOBBS ELECTRICAL SERVICES LIMITED (REGISTERED NUMBER: 03302078)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023


2. ACCOUNTING POLICIES - continued

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2022 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
Additions 3,000,000
At 31 January 2023 3,000,000
NET BOOK VALUE
At 31 January 2023 3,000,000

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2022 185,297
Additions 7,713
At 31 January 2023 193,010
DEPRECIATION
At 1 February 2022 104,734
Charge for year 13,241
At 31 January 2023 117,975
NET BOOK VALUE
At 31 January 2023 75,035
At 31 January 2022 80,563

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 354,605 264,776
Other debtors 1,319,966 1,041,694
1,674,571 1,306,470

HOBBS ELECTRICAL SERVICES LIMITED (REGISTERED NUMBER: 03302078)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 16,855 31,225
Trade creditors 456,551 437,980
Taxation and social security 98,171 294,572
Other creditors 933,872 5,161
1,505,449 768,938

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 14,137
Other creditors 2,270,637 -
2,270,637 14,137

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 19,337 15,307

Deferred
tax
£   
Balance at 1 February 2022 15,307
Provided during year 4,030
Balance at 31 January 2023 19,337

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
NIL Ordinary £1 - 45
90 Ordinary 'A' £1 90 45
1 Ordinary 'B' £1 1 -
91 90

1 Ordinary 'B' share of £1 was allotted and fully paid for cash at par during the year.

One new Ordinary 'B' share of £1 was issued on 15 September 2022 following a reorganisation of the company share capital.

HOBBS ELECTRICAL SERVICES LIMITED (REGISTERED NUMBER: 03302078)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023


11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2023 and 31 January 2022:

2023 2022
£    £   
J Hobbs
Balance outstanding at start of year 399,059 -
Amounts advanced 559,034 399,059
Amounts repaid (959,363 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (1,270 ) 399,059