Caseware UK (AP4) 2022.0.179 2022.0.179 2023-02-282023-02-282022-03-01falseElectrical installation22The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truetrue 09982822 2022-03-01 2023-02-28 09982822 2021-03-01 2022-02-28 09982822 2023-02-28 09982822 2022-02-28 09982822 c:Director1 2022-03-01 2023-02-28 09982822 d:PlantMachinery 2022-03-01 2023-02-28 09982822 d:PlantMachinery 2023-02-28 09982822 d:PlantMachinery 2022-02-28 09982822 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 09982822 d:OfficeEquipment 2022-03-01 2023-02-28 09982822 d:OfficeEquipment 2023-02-28 09982822 d:OfficeEquipment 2022-02-28 09982822 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 09982822 d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 09982822 d:CurrentFinancialInstruments 2023-02-28 09982822 d:CurrentFinancialInstruments 2022-02-28 09982822 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 09982822 d:CurrentFinancialInstruments d:WithinOneYear 2022-02-28 09982822 d:ShareCapital 2023-02-28 09982822 d:ShareCapital 2022-02-28 09982822 d:RetainedEarningsAccumulatedLosses 2023-02-28 09982822 d:RetainedEarningsAccumulatedLosses 2022-02-28 09982822 c:FRS102 2022-03-01 2023-02-28 09982822 c:AuditExempt-NoAccountantsReport 2022-03-01 2023-02-28 09982822 c:FullAccounts 2022-03-01 2023-02-28 09982822 c:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 iso4217:GBP xbrli:pure

Registered number: 09982822









NCS ELECTRICAL LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 28 FEBRUARY 2023

 
NCS ELECTRICAL LIMITED
REGISTERED NUMBER: 09982822

BALANCE SHEET
AS AT 28 FEBRUARY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,887
1,980

Current assets
  

Stocks
 5 
18,204
3,405

Debtors: amounts falling due within one year
 6 
17,573
16,538

Cash at bank and in hand
  
2,855
4,789

  
38,632
24,732

Creditors: amounts falling due within one year
 7 
(38,392)
(24,667)

Net current assets
  
 
 
240
 
 
65

  

Net assets
  
2,127
2,045


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
2,027
1,945

  
2,127
2,045


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

Page 1

 
NCS ELECTRICAL LIMITED
REGISTERED NUMBER: 09982822
    
BALANCE SHEET (CONTINUED)
AS AT 28 FEBRUARY 2023

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 22 November 2023.




N C Stahl
Director

The notes on pages 3 to 7 form part of these financial statements.
Page 2

 
NCS ELECTRICAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1.


General information

NCS Electrical Limited ("the Company") is a private company limited by shares, incorporated in England and Wales. Its registration number is 09982822. The address of its registered office is 440 Larkshall Road, Chingford, London, E4 9HH. The principal activity of the Company during the year was electrical installation. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
NCS ELECTRICAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.4

Pensions

Defined contribution pension plan
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a seperate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held seperately from the Company in independently administered funds.

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
15%
reducing balance
Office equipment
-
15%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
NCS ELECTRICAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

Financial instruments

The Company only enters into basic financial instrument transations that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.


3.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2023
        2022
            No.
            No.







Average number of employees
2
2

Page 5

 
NCS ELECTRICAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

4.


Tangible fixed assets





Plant and machinery
Office equipment
Total

£
£
£



Cost


At 1 March 2022
1,512
2,656
4,168


Additions
183
-
183



At 28 February 2023

1,695
2,656
4,351



Depreciation


At 1 March 2022
703
1,485
2,188


Charge for the year on owned assets
121
155
276



At 28 February 2023

824
1,640
2,464



Net book value



At 28 February 2023
871
1,016
1,887



At 28 February 2022
809
1,171
1,980


5.


Stocks

2023
2022
£
£

Raw materials and consumables
18,204
3,405


Page 6

 
NCS ELECTRICAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

6.


Debtors

2023
2022
£
£


Trade debtors
16,083
15,094

Other debtors
965
465

Prepayments
525
979

17,573
16,538



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
5,222
2,515

Corporation tax
28
488

Other taxation and social security
3,034
1,204

Other creditors
28,608
19,460

Accruals
1,500
1,000

38,392
24,667



8.


Related party transactions

Included within other creditors due within one year is an amount of £26,556 (2022 - £19,056) owed to the directors of the Company.
At the year end, the company owed £1,662 
(2022 - £404) to companies under common control.


9.


Controlling party

The ultimate controlling party is N C Stahl by virtue of his 100% shareholding.
 
Page 7