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REGISTERED NUMBER: 04173327


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST AUGUST 2023

FOR

FINCHWEY ELECTRICAL LIMITED

FINCHWEY ELECTRICAL LIMITED (REGISTERED NUMBER: 04173327)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31st August 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FINCHWEY ELECTRICAL LIMITED

COMPANY INFORMATION
for the Year Ended 31st August 2023







DIRECTORS: P G Wyatt
A J Henry





SECRETARY: D E Wyatt





REGISTERED OFFICE: 1st. Floor
76 Guildford Road
Lightwater
Surrey
GU18 5ST





REGISTERED NUMBER: 04173327





ACCOUNTANTS: Draper Accountants Limited
3 Quarry Close
Green Lane
Leatherhead
Surrey
KT22 8US

FINCHWEY ELECTRICAL LIMITED (REGISTERED NUMBER: 04173327)

BALANCE SHEET
31st August 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 16,073 16,007

CURRENT ASSETS
Stocks 20,560 22,450
Debtors 5 742,159 1,125,642
Cash at bank 401,529 171,311
1,164,248 1,319,403
CREDITORS
Amounts falling due within one year 6 782,059 919,761
NET CURRENT ASSETS 382,189 399,642
TOTAL ASSETS LESS CURRENT
LIABILITIES

398,262

415,649

CREDITORS
Amounts falling due after more than one
year

7

61,250

96,841
NET ASSETS 337,012 318,808

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 336,912 318,708
SHAREHOLDERS' FUNDS 337,012 318,808

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st August 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.

FINCHWEY ELECTRICAL LIMITED (REGISTERED NUMBER: 04173327)

BALANCE SHEET - continued
31st August 2023


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

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 7th November 2023 and were signed on its behalf by:





P G Wyatt - Director


FINCHWEY ELECTRICAL LIMITED (REGISTERED NUMBER: 04173327)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31st August 2023

1. STATUTORY INFORMATION

Finchwey Electrical Limited 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
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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

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 8 (2022 - 8 ) .

FINCHWEY ELECTRICAL LIMITED (REGISTERED NUMBER: 04173327)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st August 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1st September 2022 5,185 13,393 26,567 3,548 48,693
Additions - 204 - 4,692 4,896
At 31st August 2023 5,185 13,597 26,567 8,240 53,589
DEPRECIATION
At 1st September 2022 4,980 5,930 18,228 3,548 32,686
Charge for year 30 1,154 2,084 1,562 4,830
At 31st August 2023 5,010 7,084 20,312 5,110 37,516
NET BOOK VALUE
At 31st August 2023 175 6,513 6,255 3,130 16,073
At 31st August 2022 205 7,463 8,339 - 16,007

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1st September 2022
and 31st August 2023 16,615
DEPRECIATION
At 1st September 2022 9,605
Charge for year 1,752
At 31st August 2023 11,357
NET BOOK VALUE
At 31st August 2023 5,258
At 31st August 2022 7,010

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 683,176 1,039,298
Other debtors 58,983 86,344
742,159 1,125,642

FINCHWEY ELECTRICAL LIMITED (REGISTERED NUMBER: 04173327)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st August 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 35,000 35,000
Hire purchase contracts 591 3,546
Trade creditors 418,607 477,127
Taxation and social security 82,598 119,175
Other creditors 245,263 284,913
782,059 919,761

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 61,250 96,250
Hire purchase contracts - 591
61,250 96,841