Company registration number 11306030 (England and Wales)
SPECIALIST ELECTRICAL SERVICES LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023
PAGES FOR FILING WITH REGISTRAR
SPECIALIST ELECTRICAL SERVICES LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
SPECIALIST ELECTRICAL SERVICES LIMITED
BALANCE SHEET
AS AT
30 APRIL 2023
30 April 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
2,992
2,533
Current assets
Debtors
4
51,979
69,185
Cash at bank and in hand
14,383
27,232
66,362
96,417
Creditors: amounts falling due within one year
5
(55,403)
(63,812)
Net current assets
10,959
32,605
Total assets less current liabilities
13,951
35,138
Creditors: amounts falling due after more than one year
6
(12,588)
(18,400)
Provisions for liabilities
(745)
(633)
Net assets
618
16,105
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
518
16,005
Total equity
618
16,105

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 18 October 2023 and are signed on its behalf by:
Mr A Mohammed
Director
Company Registration No. 11306030
SPECIALIST ELECTRICAL SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023
- 2 -
1
Accounting policies
Company information

Specialist Electrical Services Limited is a private company limited by shares incorporated in England and Wales. The registered office is Bradbury House, Mission Court, Newport, Gwent, NP20 2DW.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.3
Tangible fixed assets

Tangible fixed assets are measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
25% Straight Line
Computers
25% Straight Line
1.4
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

SPECIALIST ELECTRICAL SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
1
Accounting policies
(Continued)
- 3 -
1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
3
3
SPECIALIST ELECTRICAL SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
- 4 -
3
Tangible fixed assets
Plant and equipment
Computers
Total
£
£
£
Cost
At 1 May 2022
1,246
2,482
3,728
Additions
533
1,108
1,641
At 30 April 2023
1,779
3,590
5,369
Depreciation and impairment
At 1 May 2022
650
545
1,195
Depreciation charged in the year
423
759
1,182
At 30 April 2023
1,073
1,304
2,377
Carrying amount
At 30 April 2023
706
2,286
2,992
At 30 April 2022
596
1,937
2,533
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
28,154
-
0
Other debtors
23,825
69,185
51,979
69,185
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
5,813
5,669
Taxation and social security
18,749
33,689
Other creditors
30,841
24,454
55,403
63,812
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
12,588
18,400
SPECIALIST ELECTRICAL SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
- 5 -
7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
100
100
100
100
2023-04-302022-05-01false18 October 2023CCH SoftwareCCH Accounts Production 2023.200No description of principal activityMr A MohammedMr M J Snell113060302022-05-012023-04-30113060302023-04-30113060302022-04-3011306030core:PlantMachinery2023-04-3011306030core:ComputerEquipment2023-04-3011306030core:PlantMachinery2022-04-3011306030core:ComputerEquipment2022-04-3011306030core:CurrentFinancialInstrumentscore:WithinOneYear2023-04-3011306030core:CurrentFinancialInstrumentscore:WithinOneYear2022-04-3011306030core:Non-currentFinancialInstrumentscore:AfterOneYear2023-04-3011306030core:Non-currentFinancialInstrumentscore:AfterOneYear2022-04-3011306030core:CurrentFinancialInstruments2023-04-3011306030core:CurrentFinancialInstruments2022-04-3011306030core:ShareCapital2023-04-3011306030core:ShareCapital2022-04-3011306030core:RetainedEarningsAccumulatedLosses2023-04-3011306030core:RetainedEarningsAccumulatedLosses2022-04-3011306030bus:Director12022-05-012023-04-3011306030core:PlantMachinery2022-05-012023-04-3011306030core:ComputerEquipment2022-05-012023-04-30113060302021-05-012022-04-3011306030core:PlantMachinery2022-04-3011306030core:ComputerEquipment2022-04-30113060302022-04-3011306030core:WithinOneYear2023-04-3011306030core:WithinOneYear2022-04-3011306030core:Non-currentFinancialInstruments2023-04-3011306030core:Non-currentFinancialInstruments2022-04-3011306030bus:PrivateLimitedCompanyLtd2022-05-012023-04-3011306030bus:SmallCompaniesRegimeForAccounts2022-05-012023-04-3011306030bus:FRS1022022-05-012023-04-3011306030bus:AuditExemptWithAccountantsReport2022-05-012023-04-3011306030bus:Director22022-05-012023-04-3011306030bus:FullAccounts2022-05-012023-04-30xbrli:purexbrli:sharesiso4217:GBP