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REGISTERED NUMBER: 07954400 (England and Wales)















Unaudited Financial Statements for the Year Ended 28 February 2023

for

S P Valentine (Electrical Design,
Installation and Maintenance) Ltd

S P Valentine (Electrical Design,
Installation and Maintenance) Ltd (Registered number: 07954400)






Contents of the Financial Statements
for the Year Ended 28 February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


S P Valentine (Electrical Design,
Installation and Maintenance) Ltd

Company Information
for the Year Ended 28 February 2023







DIRECTORS: S P Valentine
Mrs S A Valentine





REGISTERED OFFICE: 10 Manor Park
Banbury
Oxfordshire
OX16 3TB





REGISTERED NUMBER: 07954400 (England and Wales)





ACCOUNTANTS: Handleys Chartered Accountants
10 Manor Park
Banbury
Oxfordshire
OX16 3TB

S P Valentine (Electrical Design,
Installation and Maintenance) Ltd (Registered number: 07954400)

Balance Sheet
28 February 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 15,798 18,684

CURRENT ASSETS
Debtors 5 18,535 13,227
Cash at bank and in hand 86,297 79,455
104,832 92,682
CREDITORS
Amounts falling due within one year 6 64,709 72,908
NET CURRENT ASSETS 40,123 19,774
TOTAL ASSETS LESS CURRENT
LIABILITIES

55,921

38,458

CREDITORS
Amounts falling due after more than
one year

7

(6,330

)

(9,947

)

PROVISIONS FOR LIABILITIES (3,002 ) (3,550 )
NET ASSETS 46,589 24,961

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 46,587 24,959
SHAREHOLDERS' FUNDS 46,589 24,961

S P Valentine (Electrical Design,
Installation and Maintenance) Ltd (Registered number: 07954400)

Balance Sheet - continued
28 February 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 November 2023 and were signed on its behalf by:





S P Valentine - Director


S P Valentine (Electrical Design,
Installation and Maintenance) Ltd (Registered number: 07954400)

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

S P Valentine (Electrical Design, Installation and Maintenance) 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.

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.

Revenue recognition
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of value added tax and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. For sales of goods, the turnover is shown net of distribution and carriage charges.

Revenue from sale of goods is recognised when significant risks and rewards of ownership have been transferred to the buyer, when the amount of revenue can be measured reliably, when it is probable that the economic benefits associated with the transaction will flow to the entity and when the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from sale of services is recognised when the stage of completion of the transaction can be measured reliably.

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 - 15% on reducing balance
Computer equipment - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.


S P Valentine (Electrical Design,
Installation and Maintenance) Ltd (Registered number: 07954400)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

2. 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
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 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2022
and 28 February 2023 40,746
DEPRECIATION
At 1 March 2022 22,062
Charge for year 2,886
At 28 February 2023 24,948
NET BOOK VALUE
At 28 February 2023 15,798
At 28 February 2022 18,684

S P Valentine (Electrical Design,
Installation and Maintenance) Ltd (Registered number: 07954400)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 March 2022
and 28 February 2023 19,538
DEPRECIATION
At 1 March 2022 4,176
Charge for year 2,304
At 28 February 2023 6,480
NET BOOK VALUE
At 28 February 2023 13,058
At 28 February 2022 15,362

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade debtors 18,535 13,227

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Hire purchase contracts 3,617 3,617
Trade creditors 405 922
Taxation and social security 12,647 7,804
Other creditors 48,040 60,565
64,709 72,908

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
28.2.23 28.2.22
£    £   
Hire purchase contracts 6,330 9,947