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REGISTERED NUMBER: 10757749 (England and Wales)












Unaudited Financial Statements

For The Year Ended 31 March 2023

for

Simon James Electrical Ltd

Simon James Electrical Ltd (Registered number: 10757749)






Contents of the Financial Statements
For The Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Simon James Electrical Ltd

Company Information
For The Year Ended 31 March 2023







DIRECTOR: S J Tiplady





REGISTERED OFFICE: 30 Arle Gardens
Alresford
Hampshire
SO24 9BA





REGISTERED NUMBER: 10757749 (England and Wales)





ACCOUNTANTS: Butler & Co (Bishops Waltham) Limited
Chartered Accountants
Avalon House
Waltham Business Park
Brickyard Road, Swanmore
Southampton
Hampshire
SO32 2SA

Simon James Electrical Ltd (Registered number: 10757749)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 26,005 32,005
Tangible assets 6 10,181 11,710
36,186 43,715

CURRENT ASSETS
Debtors 7 42,137 14,958
Cash at bank 27,105 20,330
69,242 35,288
CREDITORS
Amounts falling due within one year 8 83,063 75,651
NET CURRENT LIABILITIES (13,821 ) (40,363 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

22,365

3,352

PROVISIONS FOR LIABILITIES 1,934 2,225
NET ASSETS 20,431 1,127

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 20,331 1,027
SHAREHOLDERS' FUNDS 20,431 1,127

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Simon James Electrical Ltd (Registered number: 10757749)

Balance Sheet - continued
31 March 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 16 November 2023 and were signed by:





S J Tiplady - Director


Simon James Electrical Ltd (Registered number: 10757749)

Notes to the Financial Statements
For The Year Ended 31 March 2023

1. STATUTORY INFORMATION

Simon James Electrical Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% reducing balance basis
Motor vehicles - 20% reducing balance basis
Computer equipment - 25% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


Simon James Electrical Ltd (Registered number: 10757749)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2023

3. 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
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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 6 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 60,000
AMORTISATION
At 1 April 2022 27,995
Amortisation for year 6,000
At 31 March 2023 33,995
NET BOOK VALUE
At 31 March 2023 26,005
At 31 March 2022 32,005

Simon James Electrical Ltd (Registered number: 10757749)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2023

6. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2022 897 19,090 2,345 22,332
Additions - - 1,164 1,164
At 31 March 2023 897 19,090 3,509 23,496
DEPRECIATION
At 1 April 2022 270 8,206 2,146 10,622
Charge for year 125 2,177 391 2,693
At 31 March 2023 395 10,383 2,537 13,315
NET BOOK VALUE
At 31 March 2023 502 8,707 972 10,181
At 31 March 2022 627 10,884 199 11,710

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 41,910 14,696
Prepayments 227 262
42,137 14,958

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade creditors 416 388
Tax 15,604 2,836
Social security and other taxes 20,968 12,820
VAT 5,541 11,557
Pension payable 232 263
Directors' current accounts 38,352 45,917
Accrued expenses 1,950 1,870
83,063 75,651