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Registration number: 04792514

Secelec Limited

trading as Secelec Electrical Services

Unaudited Filleted Financial Statements

for the Period from 1 October 2022 to 31 May 2023

 

Secelec Limited

trading as Secelec Electrical Services

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Secelec Limited

trading as Secelec Electrical Services

Company Information

Directors

S P Fordham

S E Crew

Company secretary

K L Fordham

Registered office

59 Abbeygate Street
Bury St. Edmunds
Suffolk
IP33 1LB

Accountants

Jacobs Allen Limited
Chartered Accountants and Chartered Taxation Advisers
59 Abbeygate Street
Bury St. Edmunds
Suffolk
IP33 1LB

 

Secelec Limited

trading as Secelec Electrical Services

(Registration number: 04792514)
Balance Sheet as at 31 May 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

307

6,709

Current assets

 

Debtors

5

39,356

66,734

Cash at bank and in hand

 

54,443

249,129

 

93,799

315,863

Creditors: Amounts falling due within one year

6

(19,323)

(83,800)

Net current assets

 

74,476

232,063

Total assets less current liabilities

 

74,783

238,772

Provisions for liabilities

-

(1,274)

Net assets

 

74,783

237,498

Capital and reserves

 

Called up share capital

7

200

200

Retained earnings

74,583

237,298

Shareholders' funds

 

74,783

237,498

For the financial period ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 10 October 2023 and signed on its behalf by:
 

 

Secelec Limited

trading as Secelec Electrical Services

(Registration number: 04792514)
Balance Sheet as at 31 May 2023

.........................................
S P Fordham
Director

.........................................
S E Crew
Director

 
     
 

Secelec Limited

trading as Secelec Electrical Services

Notes to the Unaudited Financial Statements for the Period from 1 October 2022 to 31 May 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
59 Abbeygate Street
Bury St. Edmunds
Suffolk
IP33 1LB

The principal place of business is:
23 Cloverfields
Thurston
Bury St Edmunds
Suffolk
IP31 3TJ

These financial statements were authorised for issue by the Board on 10 October 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Disclosure of long or short period

The financial statements period has shortened to 31 May 2023 due to the company ceasing trade and therefore the comparatives are not entirely comparible.

Going concern

The company ceased trading at 31 May 2023 and therefore the financial statements are not prepared on a going concern basis.

 

Secelec Limited

trading as Secelec Electrical Services

Notes to the Unaudited Financial Statements for the Period from 1 October 2022 to 31 May 2023

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture, fittings and equipment

35% reducing balance

Motor vehicles

25% reducing balance

Other property, plant and equipment

20% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Secelec Limited

trading as Secelec Electrical Services

Notes to the Unaudited Financial Statements for the Period from 1 October 2022 to 31 May 2023

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 3 (2022 - 3).

 

Secelec Limited

trading as Secelec Electrical Services

Notes to the Unaudited Financial Statements for the Period from 1 October 2022 to 31 May 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 October 2022

784

18,485

2,283

21,552

Disposals

-

(18,485)

-

(18,485)

At 31 May 2023

784

-

2,283

3,067

Depreciation

At 1 October 2022

782

12,098

1,963

14,843

Charge for the period

-

1,597

15

1,612

Eliminated on disposal

-

(13,695)

-

(13,695)

At 31 May 2023

782

-

1,978

2,760

Carrying amount

At 31 May 2023

2

-

305

307

At 30 September 2022

2

6,387

320

6,709

5

Debtors

Current

2023
£

2022
£

Trade debtors

18,800

54,416

Other debtors

20,556

12,318

 

39,356

66,734

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

9,934

14,049

Taxation and social security

4,989

5,128

Accruals and deferred income

3,522

-

Other creditors

878

64,623

19,323

83,800

 

Secelec Limited

trading as Secelec Electrical Services

Notes to the Unaudited Financial Statements for the Period from 1 October 2022 to 31 May 2023

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

200

200

200

200

         

8

Related party transactions

Other transactions with directors

During the period the directors provided the company with interest free advances which are considered repayable on demand, amounts owing to the directors at the period end was £120 (2022 - £63,107).