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Registration number: 02058345

R T Harris & Son (Electrical Contractors) Limited

Filleted Financial Statements

for the Year Ended 30 April 2023

 

R T Harris & Son (Electrical Contractors) Limited

Contents

Balance Sheet

1

Notes to the Financial Statements

2 to 6

 

R T Harris & Son (Electrical Contractors) Limited

(Registration number: 02058345)
Balance Sheet as at 30 April 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

44,590

37,317

Current assets

 

Debtors

5

1,842,896

1,752,315

Cash at bank and in hand

 

720,804

680,203

 

2,563,700

2,432,518

Creditors: Amounts falling due within one year

6

(813,337)

(761,758)

Net current assets

 

1,750,363

1,670,760

Net assets

 

1,794,953

1,708,077

Capital and reserves

 

Called up share capital

7

102

102

Retained earnings

1,794,851

1,707,975

Shareholders' funds

 

1,794,953

1,708,077

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 18 August 2023 and signed on its behalf by:
 

.........................................
Mr MRJ Harris
Director

 

R T Harris & Son (Electrical Contractors) Limited

Notes to the Financial Statements for the Year Ended 30 April 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:
Shotover Kilns
Shotover Hill
Headington
Oxford
OX3 8ST

These financial statements were authorised for issue by the Board on 18 August 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.

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 18 August 2023 was Anthony Haines BSc FCA, who signed for and on behalf of Wenn Townsend.

Key sources of estimation uncertainty

Valuation of amounts recoverable on contracts. The carrying amount is £381,551 (2022: £283,698).

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.

Tax

The tax expense for the period comprises current 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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

R T Harris & Son (Electrical Contractors) Limited

Notes to the Financial Statements for the Year Ended 30 April 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

15% reducing balance

Motor vehicles

33% reducing balance

Computer equipment

25% straight line

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.

Amounts recoverable on long term contracts, which are included in debtors, are stated at the net sales value of work done after provisions for contingencies and anticipated future losses on contracts, less amounts received as progress payments on account. Excess progress payments are included in creditors as payments received on account.

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.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 36 (2022 - 35).

 

R T Harris & Son (Electrical Contractors) Limited

Notes to the Financial Statements for the Year Ended 30 April 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2022

149,184

82,481

231,665

Additions

-

34,390

34,390

Disposals

-

(17,945)

(17,945)

At 30 April 2023

149,184

98,926

248,110

Depreciation

At 1 May 2022

137,746

56,602

194,348

Charge for the year

3,957

19,525

23,482

Eliminated on disposal

-

(14,310)

(14,310)

At 30 April 2023

141,703

61,817

203,520

Carrying amount

At 30 April 2023

7,481

37,109

44,590

At 30 April 2022

11,438

25,879

37,317

5

Debtors

2023
£

2022
£

Trade debtors

143,951

197,532

Amounts owed by group undertakings

1,045,684

1,044,663

Other debtors

67,538

25,774

Retentions

142,629

149,225

Other prepayments

53,568

51,423

Accrued income

7,975

-

Gross amount due from customers for contract work

381,551

283,698

Total current trade and other debtors

1,842,896

1,752,315

 

R T Harris & Son (Electrical Contractors) Limited

Notes to the Financial Statements for the Year Ended 30 April 2023

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

353,440

317,094

Amounts owed to group undertakings

-

301,001

Taxation and social security

39,765

46,074

Other creditors

310,538

12,543

Accrued expenses

32,872

28,546

Income tax liability

76,722

56,500

813,337

761,758

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

102

102

102

102

         
 

R T Harris & Son (Electrical Contractors) Limited

Notes to the Financial Statements for the Year Ended 30 April 2023

8

Related party transactions

2023

At 1 May 2022
£

Advances to director
£

At 30 April 2023
£

Mr IR Harris

Loan at official rate of interest

2,803

303,237

306,040

       
     

 

2022

At 1 May 2021
£

Advances to director
£

Repayments by director
£

At 30 April 2022
£

Mr IR Harris

Loan at official rate of interest

127,097

4,286

(128,580)

2,803

         
       

Mr MRJ Harris

Loan at official rate of interest

181,559

2,118

(183,677)

-

         
       

 

Directors' remuneration

The directors' remuneration for the year was as follows:

2023
£

2022
£

Remuneration

260,000

246,971

Contributions paid to money purchase schemes

42,980

42,800

302,980

289,771

During the year the number of directors who were receiving benefits and share incentives was as follows:

2023
No.

2022
No.

Accruing benefits under money purchase pension scheme

3

3

9

Parent and ultimate parent undertaking

The company's immediate parent is R T H Holdings Limited, incorporated in England and Wales.

  These financial statements are available upon request from
Shotover Kilns
Shotover Hill
Headington
OX3 8ST
Oxford