Silverfin false 31/01/2023 01/02/2022 31/01/2023 A J Batchelor 28/02/2014 I J Batchelor 30/06/1993 16 October 2023 The principal activity of the Company during the financial year is electrical contracting and testing electrical installations. 02679096 2023-01-31 02679096 bus:Director1 2023-01-31 02679096 bus:Director2 2023-01-31 02679096 2022-01-31 02679096 core:CurrentFinancialInstruments 2023-01-31 02679096 core:CurrentFinancialInstruments 2022-01-31 02679096 core:Non-currentFinancialInstruments 2023-01-31 02679096 core:Non-currentFinancialInstruments 2022-01-31 02679096 core:ShareCapital 2023-01-31 02679096 core:ShareCapital 2022-01-31 02679096 core:RetainedEarningsAccumulatedLosses 2023-01-31 02679096 core:RetainedEarningsAccumulatedLosses 2022-01-31 02679096 core:OtherResidualIntangibleAssets 2022-01-31 02679096 core:OtherResidualIntangibleAssets 2023-01-31 02679096 core:LandBuildings 2022-01-31 02679096 core:PlantMachinery 2022-01-31 02679096 core:FurnitureFittings 2022-01-31 02679096 core:ComputerEquipment 2022-01-31 02679096 core:LandBuildings 2023-01-31 02679096 core:PlantMachinery 2023-01-31 02679096 core:FurnitureFittings 2023-01-31 02679096 core:ComputerEquipment 2023-01-31 02679096 2022-02-01 2023-01-31 02679096 bus:FullAccounts 2022-02-01 2023-01-31 02679096 bus:SmallEntities 2022-02-01 2023-01-31 02679096 bus:AuditExemptWithAccountantsReport 2022-02-01 2023-01-31 02679096 bus:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 02679096 bus:Director1 2022-02-01 2023-01-31 02679096 bus:Director2 2022-02-01 2023-01-31 02679096 core:OtherResidualIntangibleAssets 2022-02-01 2023-01-31 02679096 core:LandBuildings core:TopRangeValue 2022-02-01 2023-01-31 02679096 core:PlantMachinery 2022-02-01 2023-01-31 02679096 core:FurnitureFittings 2022-02-01 2023-01-31 02679096 core:ComputerEquipment core:TopRangeValue 2022-02-01 2023-01-31 02679096 2021-02-01 2022-01-31 02679096 core:LandBuildings 2022-02-01 2023-01-31 02679096 core:ComputerEquipment 2022-02-01 2023-01-31 02679096 core:Non-currentFinancialInstruments 2022-02-01 2023-01-31 iso4217:GBP xbrli:pure

Company No: 02679096 (England and Wales)

BATCHELOR ELECTRICAL LIMITED

Unaudited Financial Statements
For the financial year ended 31 January 2023
Pages for filing with the registrar

BATCHELOR ELECTRICAL LIMITED

Unaudited Financial Statements

For the financial year ended 31 January 2023

Contents

BATCHELOR ELECTRICAL LIMITED

BALANCE SHEET

As at 31 January 2023
BATCHELOR ELECTRICAL LIMITED

BALANCE SHEET (continued)

As at 31 January 2023
Note 2023 2022
£ £
Fixed assets
Intangible assets 3 3,488 4,651
Tangible assets 4 35,565 43,702
39,053 48,353
Current assets
Stocks 5 767,554 727,218
Debtors 6 488,589 559,845
Cash at bank and in hand 64,897 24,364
1,321,040 1,311,427
Creditors: amounts falling due within one year 7 ( 986,956) ( 802,653)
Net current assets 334,084 508,774
Total assets less current liabilities 373,137 557,127
Creditors: amounts falling due after more than one year 8 ( 156,292) ( 343,855)
Provision for liabilities ( 6,758) ( 8,303)
Net assets 210,087 204,969
Capital and reserves
Called-up share capital 100 100
Profit and loss account 209,987 204,869
Total shareholders' funds 210,087 204,969

For the financial year ending 31 January 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Batchelor Electrical Limited (registered number: 02679096) were approved and authorised for issue by the Board of Directors on 16 October 2023. They were signed on its behalf by:

A J Batchelor
Director
BATCHELOR ELECTRICAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2023
BATCHELOR ELECTRICAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Batchelor Electrical Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Towngate House, 2-8 Parkstone Road, Poole, BH15 2PW, United Kingdom. The principal place of business is Unit 15, Albany Business Park, 15 Cabot Lane, Poole, Dorset, BH17 7BX.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. Revenue from services is recognised as they are delivered.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
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 financial statements. 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 tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets 25 % reducing balance
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Land and buildings 10 years straight line
Plant and machinery 15 % reducing balance
Fixtures and fittings 15 % reducing balance
Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 18 20

3. Intangible assets

Other intangible assets Total
£ £
Cost
At 01 February 2022 6,201 6,201
At 31 January 2023 6,201 6,201
Accumulated amortisation
At 01 February 2022 1,550 1,550
Charge for the financial year 1,163 1,163
At 31 January 2023 2,713 2,713
Net book value
At 31 January 2023 3,488 3,488
At 31 January 2022 4,651 4,651

4. Tangible assets

Land and buildings Plant and machinery Fixtures and fittings Computer equipment Total
£ £ £ £ £
Cost
At 01 February 2022 50,716 175,602 34,134 62,900 323,352
At 31 January 2023 50,716 175,602 34,134 62,900 323,352
Accumulated depreciation
At 01 February 2022 33,383 154,191 29,176 62,900 279,650
Charge for the financial year 4,181 3,212 744 0 8,137
At 31 January 2023 37,564 157,403 29,920 62,900 287,787
Net book value
At 31 January 2023 13,152 18,199 4,214 0 35,565
At 31 January 2022 17,333 21,411 4,958 0 43,702

5. Stocks

2023 2022
£ £
Stocks 282,225 265,000
Work in progress 485,329 462,218
767,554 727,218

6. Debtors

2023 2022
£ £
Trade debtors 417,878 276,189
Corporation tax 68,233 281,177
Other debtors 2,478 2,479
488,589 559,845

7. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 86,973 106,180
Trade creditors 370,881 243,378
Other taxation and social security 124,309 152,586
Other creditors 404,793 300,509
986,956 802,653

8. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 156,292 243,855
Other creditors 0 100,000
156,292 343,855

There are no amounts included above in respect of which any security has been given by the small entity.