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REGISTERED NUMBER: 04265282













Unaudited Financial Statements

for the Year Ended 30 April 2023

for

Universal Electrical Contracts Ltd

Universal Electrical Contracts Ltd (Registered number: 04265282)






Contents of the Financial Statements
for the year ended 30 April 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Universal Electrical Contracts Ltd

Company Information
for the year ended 30 April 2023







DIRECTORS: P I Slone
S Wiggin





SECRETARY: Mrs A Reid





REGISTERED OFFICE: Unit 1AA West End Business Park
Oswaldtwistle
Accrington
BB5 4WE





REGISTERED NUMBER: 04265282





ACCOUNTANTS: Mayes Business Partnership Ltd
Chartered Certified Accountants
22-28 Willow Street
Accrington
Lancashire
BB5 1LP

Universal Electrical Contracts Ltd (Registered number: 04265282)

Abridged Balance Sheet
30 April 2023

30/4/23 30/4/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 68,888 20,364

CURRENT ASSETS
Stocks 5,250 5,750
Debtors 280,268 347,344
Cash at bank 155,004 371,290
440,522 724,384
CREDITORS
Amounts falling due within one year 124,829 401,131
NET CURRENT ASSETS 315,693 323,253
TOTAL ASSETS LESS CURRENT
LIABILITIES

384,581

343,617

CREDITORS
Amounts falling due after more than one year (30,513 ) -

PROVISIONS FOR LIABILITIES (10,956 ) (3,869 )
NET ASSETS 343,112 339,748

CAPITAL AND RESERVES
Called up share capital 6 100 100
Retained earnings 343,012 339,648
SHAREHOLDERS' FUNDS 343,112 339,748

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Universal Electrical Contracts Ltd (Registered number: 04265282)

Abridged Balance Sheet - continued
30 April 2023


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 April 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 October 2023 and were signed on its behalf by:





P I Slone - Director


Universal Electrical Contracts Ltd (Registered number: 04265282)

Notes to the Financial Statements
for the year ended 30 April 2023

1. STATUTORY INFORMATION

Universal Electrical Contracts Ltd is a private company, limited by shares , registered in Not specified/Other. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
The turnover shown in the profit and loss account represents revenue recognised by the company in respect of goods and services supplied during the period, exclusive of Value Added Tax and trade discounts.

The company sells electrical contract services to the business customers. Revenue is recognised in the accounting period in which the services are rendered when the outcome of contract can be estimated reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Motor vehicles - 20% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Basic financial assets, including trade and other receivables, cash and bank balances and investments in commercial paper, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Universal Electrical Contracts Ltd (Registered number: 04265282)

Notes to the Financial Statements - continued
for the year ended 30 April 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 9 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 May 2022 75,223
Additions 69,037
Disposals (15,491 )
At 30 April 2023 128,769
DEPRECIATION
At 1 May 2022 54,859
Charge for year 17,265
Eliminated on disposal (12,243 )
At 30 April 2023 59,881
NET BOOK VALUE
At 30 April 2023 68,888
At 30 April 2022 20,364

Universal Electrical Contracts Ltd (Registered number: 04265282)

Notes to the Financial Statements - continued
for the year ended 30 April 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
Additions 68,564
At 30 April 2023 68,564
DEPRECIATION
Charge for year 13,713
At 30 April 2023 13,713
NET BOOK VALUE
At 30 April 2023 54,851

5. SECURED DEBTS

The following secured debts are included within creditors:

30/4/23 30/4/22
£    £   
Hire purchase contracts 50,577 -

Hire purchase liabilities are secured upon the associated assets.

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30/4/23 30/4/22
value: £    £   
100 Ordinary shares £1 100 100