Registered number
13275022
Electrical Avenue Ltd
Filleted Accounts
31 March 2023
Electrical Avenue Ltd
Registered number: 13275022
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 3,588 4,221
Current assets
Debtors 4 - 765
Cash at bank and in hand 2 117
2 882
Creditors: amounts falling due within one year 5 (4,859) (4,991)
Net current liabilities (4,857) (4,109)
Net (liabilities)/assets (1,269) 112
Capital and reserves
Called up share capital 100 100
Profit and loss account (1,369) 12
Shareholders' funds (1,269) 112
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J Hamilton
Director
Approved by the board on 6 July 2023
Electrical Avenue Ltd
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover includes revenue earned from the rendering of services. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets at the following rates:
Plant and machinery 15% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price).
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Current tax liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2022 4,786
At 31 March 2023 4,786
Depreciation
At 1 April 2022 565
Charge for the year 633
At 31 March 2023 1,198
Net book value
At 31 March 2023 3,588
At 31 March 2022 4,221
4 Debtors 2023 2022
£ £
Other debtors - 765
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 240 1,270
Other creditors 4,619 3,721
4,859 4,991
6 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
J Hamilton
3,721 (117) 1,015 4,619
3,721 (117) 1,015 4,619
7 Other information
Electrical Avenue Ltd is a private company limited by shares and incorporated in England. Its registered office is:
21 Elmwood Drive
Ponteland
NE20 9QQ
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