Electrical Renovations Ltd 13697934 false 2021-10-22 2023-03-31 2023-03-31 The principal activity of the company is electrical repairs and maintenance services Digita Accounts Production Advanced 6.30.9574.0 true true true 13697934 2021-10-22 2023-03-31 13697934 2023-03-31 13697934 bus:OrdinaryShareClass1 2023-03-31 13697934 bus:Revised 2023-03-31 13697934 core:CurrentFinancialInstruments 2023-03-31 13697934 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 13697934 bus:SmallEntities 2021-10-22 2023-03-31 13697934 bus:AuditExemptWithAccountantsReport 2021-10-22 2023-03-31 13697934 bus:FullAccounts 2021-10-22 2023-03-31 13697934 bus:SmallCompaniesRegimeForAccounts 2021-10-22 2023-03-31 13697934 bus:RegisteredOffice 2021-10-22 2023-03-31 13697934 bus:Director1 2021-10-22 2023-03-31 13697934 bus:Director2 2021-10-22 2023-03-31 13697934 bus:OrdinaryShareClass1 2021-10-22 2023-03-31 13697934 bus:PrivateLimitedCompanyLtd 2021-10-22 2023-03-31 13697934 1 2021-10-22 2023-03-31 13697934 countries:EnglandWales 2021-10-22 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 13697934

Electrical Renovations Ltd

Unaudited Financial Statements

for the Period from 22 October 2021 to 31 March 2023

 

Electrical Renovations Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Electrical Renovations Ltd

Company Information

Directors

Mr JN McNamara

Mrs J McNamara

Registered office

70A High Street
Buntingford
Hertfordshire
SG9 9AH

 

Electrical Renovations Ltd

(Registration number: 13697934)
Balance Sheet as at 31 March 2023

Note

2023
£

Current assets

 

Debtors

4

15,367

Cash at bank and in hand

 

329

 

15,696

Creditors: Amounts falling due within one year

5

(17,975)

Total assets less current liabilities

 

(2,279)

Provisions for liabilities

433

Net liabilities

 

(1,846)

Capital and reserves

 

Called up share capital

1

Retained earnings

(1,847)

Shareholders' deficit

 

(1,846)

For the financial period ending 31 March 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 23 October 2023 and signed on its behalf by:
 

.........................................
Mr JN McNamara
Director

 

Electrical Renovations Ltd

Notes to the Unaudited Financial Statements for the Period from 22 October 2021 to 31 March 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:
70A High Street
Buntingford
Hertfordshire
SG9 9AH

These financial statements were authorised for issue by the Board on 23 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.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis.

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and 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.

 

Electrical Renovations Ltd

Notes to the Unaudited Financial Statements for the Period from 22 October 2021 to 31 March 2023

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.

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.

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or 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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

 

Electrical Renovations Ltd

Notes to the Unaudited Financial Statements for the Period from 22 October 2021 to 31 March 2023

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2.

4

Debtors

Current

Note

2023
£

Trade debtors

 

3,343

Amounts owed by related parties

7

854

Other debtors

 

11,170

   

15,367

5

Creditors

Creditors: amounts falling due within one year

2023
£

Due within one year

Trade creditors

13,709

Taxation and social security

2,816

Accruals and deferred income

1,450

17,975

6

Share capital

Allotted, called up and fully paid shares

 

2023

 

No.

£

Ordinary Shares of £1 each

1

1

     

7

Related party transactions

At the balance sheet date, the company was owed £11,168 by Mr JN McNamara, a director of the company. This loan was repaid in full within nine months of the year end.

 

Electrical Renovations Ltd

Notes to the Unaudited Financial Statements for the Period from 22 October 2021 to 31 March 2023

8

Parent and ultimate parent undertaking

The company's immediate parent is THI Holdings Limited, incorporated in England and Wales.