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Company Registration No. 10616204 (England and Wales)
SC ELECTRICAL (NE) LTD Unaudited accounts for the year ended 28 February 2023
SC ELECTRICAL (NE) LTD Unaudited accounts Contents
Page
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SC ELECTRICAL (NE) LTD Company Information for the year ended 28 February 2023
Directors
BARNES, Sean WILKINSON, Lauren
Company Number
10616204 (England and Wales)
Registered Office
49 EDGMOND COURT SUNDERLAND SR2 0DY ENGLAND
Accountants
Bergen Associates (Chartered Certified Accountants) c/o Andrew W Hunt & Co 13 Lowthian Terrace Washington Tyne and Wear NE38 7BA
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Chartered Certified Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of SC ELECTRICAL (NE) LTD for the year ended 28 February 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of SC ELECTRICAL (NE) LTD for the year ended 28 February 2023 as set out on pages 5 - 8 from the Company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/uk/en/about-us/regulation/rulebook.html
This report is made solely to the Board of Directors of SC ELECTRICAL (NE) LTD, as a body, in accordance with the terms of our engagement letter dated 1 March 2021. Our work has been undertaken solely to prepare for your approval the accounts of SC ELECTRICAL (NE) LTD and state those matters that we have agreed to state to the Board of Directors of SC ELECTRICAL (NE) LTD, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than SC ELECTRICAL (NE) LTD and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that SC ELECTRICAL (NE) LTD has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of SC ELECTRICAL (NE) LTD. You consider that SC ELECTRICAL (NE) LTD is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of SC ELECTRICAL (NE) LTD. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Bergen Associates (Chartered Certified Accountants) Chartered Certified Accountants c/o Andrew W Hunt & Co 13 Lowthian Terrace Washington Tyne and Wear NE38 7BA 7 September 2023
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SC ELECTRICAL (NE) LTD Statement of financial position as at 28 February 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
- 
1,400 
Tangible assets
5,694 
5,595 
5,694 
6,995 
Current assets
Inventories
750 
750 
Debtors
10,305 
- 
Cash at bank and in hand
564 
(483)
11,619 
267 
Creditors: amounts falling due within one year
(13,328)
(13,606)
Net current liabilities
(1,709)
(13,339)
Total assets less current liabilities
3,985 
(6,344)
Creditors: amounts falling due after more than one year
(4,746)
(1,193)
Net liabilities
(761)
(7,537)
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
(763)
(7,539)
Shareholders' funds
(761)
(7,537)
For the year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 7 September 2023 and were signed on its behalf by
BARNES, Sean Director Company Registration No. 10616204
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SC ELECTRICAL (NE) LTD Notes to the Accounts for the year ended 28 February 2023
1
Statutory information
SC ELECTRICAL (NE) LTD is a private company, limited by shares, registered in England and Wales, registration number 10616204. The registered office is 49 EDGMOND COURT, SUNDERLAND, SR2 0DY, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% reducing balance
Motor vehicles
25% reducing balance
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
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SC ELECTRICAL (NE) LTD Notes to the Accounts for the year ended 28 February 2023
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 March 2022
7,000 
At 28 February 2023
7,000 
Amortisation
At 1 March 2022
5,600 
Charge for the year
1,400 
At 28 February 2023
7,000 
Net book value
At 28 February 2023
- 
At 28 February 2022
1,400 
5
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 March 2022
2,841 
8,994 
11,835 
Additions
2,000 
- 
2,000 
At 28 February 2023
4,841 
8,994 
13,835 
Depreciation
At 1 March 2022
1,040 
5,200 
6,240 
Charge for the year
951 
950 
1,901 
At 28 February 2023
1,991 
6,150 
8,141 
Net book value
At 28 February 2023
2,850 
2,844 
5,694 
At 28 February 2022
1,801 
3,794 
5,595 
6
Inventories
2023 
2022 
£ 
£ 
Work in progress
750 
750 
750 
750 
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SC ELECTRICAL (NE) LTD Notes to the Accounts for the year ended 28 February 2023
7
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Other debtors
10,305 
- 
8
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Obligations under finance leases and hire purchase contracts
2,257 
1,798 
Taxes and social security
975 
- 
Loans from directors
8,776 
10,638 
Accruals
1,320 
1,170 
13,328 
13,606 
9
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Obligations under finance leases and hire purchase contracts
597 
2,894 
Taxes and social security
4,149 
(1,701)
4,746 
1,193 
10
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2 
2 
11
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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