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Company Registration No. 10563413 (England and Wales)
Switched On Electrical NW Ltd Unaudited accounts for the year ended 31 January 2023
Switched On Electrical NW Ltd Unaudited accounts Contents
Page
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Switched On Electrical NW Ltd Company Information for the year ended 31 January 2023
Director
Daniel Delaney
Secretary
Mr Daniel Delaney
Company Number
10563413 (England and Wales)
Registered Office
258 Grane Road Haslingden Rossendale Lancashire BB4 4PB
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Switched On Electrical NW Ltd Accountants' report
Accountants' report to the director of Switched On Electrical NW Ltd (the company)
These financial statements have been prepared in accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Acts that relate to preparing the financial statements of the company for the year ended 31 January 2023.
We have prepared these financial statements based on the accounting records, information and explanations provided by you. We do not express any opinion on the financial statements.
On the balance sheet you have acknowledged your duties under the prevailing Companies Acts to ensure that the company keeps adequate accounting records and prepares financial statements that give "a true and fair view".
You have determined that the company is exempt from the statutory requirement for an audit for the year ended 31 January 2023. Therefore, the financial statements are unaudited.
The financial statements are provided exclusively to the director for the limited purpose mentioned above, and may not be used or relied upon for any other purpose or by any other person, and we shall not be liable for any other usage or reliance.
22 October 2023
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Switched On Electrical NW Ltd Statement of financial position as at 31 January 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
1,750 
3,500 
Current assets
Debtors
- 
4,167 
Cash at bank and in hand
8,293 
15,192 
8,293 
19,359 
Creditors: amounts falling due within one year
2,699 
(9,729)
Net current assets
10,992 
9,630 
Total assets less current liabilities
12,742 
13,130 
Creditors: amounts falling due after more than one year
(11,666)
(12,445)
Net assets
1,076 
685 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
1,075 
684 
Shareholders' funds
1,076 
685 
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 and authorised for issue on 22 October 2023 and were signed on its behalf by
Daniel Delaney Director Company Registration No. 10563413
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Switched On Electrical NW Ltd Notes to the Accounts for the year ended 31 January 2023
1
Statutory information
Switched On Electrical NW Ltd is a private company, limited by shares, registered in England and Wales, registration number 10563413. The registered office is 258 Grane Road, Haslingden, Rossendale, Lancashire, BB4 4PB.
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:
Motor vehicles
25% Straight Line
4
Tangible fixed assets
Motor vehicles 
£ 
Cost or valuation
At cost 
At 1 February 2022
7,000 
At 31 January 2023
7,000 
Depreciation
At 1 February 2022
3,500 
Charge for the year
1,750 
At 31 January 2023
5,250 
Net book value
At 31 January 2023
1,750 
At 31 January 2022
3,500 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Other debtors
- 
4,167 
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Switched On Electrical NW Ltd Notes to the Accounts for the year ended 31 January 2023
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
- 
3,500 
VAT
1,815 
793 
Obligations under finance leases and hire purchase contracts
778 
1,330 
Taxes and social security
14,830 
13,226 
Loans from directors
(20,797)
(9,495)
Accruals
675 
375 
(2,699)
9,729 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
11,666 
11,666 
Obligations under finance leases and hire purchase contracts
- 
779 
11,666 
12,445 
8
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Daniel Delaney
Directors Loan
9,495 
11,302 
- 
20,797 
9,495 
11,302 
- 
20,797 
No Terms of repayment have been set or interest charge on the outstanding balance.
9
Average number of employees
During the year the average number of employees was 0 (2022: 0).
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