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SIMPSON'S ELECTRICAL SERVICES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023






SIMPSON'S ELECTRICAL SERVICES LIMITED (REGISTERED NUMBER: 04657694)

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


SIMPSON'S ELECTRICAL SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTOR: M Simpson





REGISTERED OFFICE: 1 Dene Bank
Lady Lane
Bingley
West Yorkshire
BD16 4AR





REGISTERED NUMBER: 04657694 (England and Wales)





ACCOUNTANTS: Wilkinson and Partners
Chartered Accountants
Fairfax House
6a Mill Field Road
Cottingley Business Park
Bradford
West Yorkshire
BD16 1PY

SIMPSON'S ELECTRICAL SERVICES LIMITED (REGISTERED NUMBER: 04657694)

BALANCE SHEET
28 FEBRUARY 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,108 1,379
1,108 1,379

CURRENT ASSETS
Stocks 525 3,369
Debtors 6 200 2,998
Cash at bank and in hand 4,599 6,293
5,324 12,660
CREDITORS
Amounts falling due within one year 7 4,637 4,529
NET CURRENT ASSETS 687 8,131
TOTAL ASSETS LESS CURRENT LIABILITIES 1,795 9,510

CREDITORS
Amounts falling due after more than one
year

8

11,183

11,423
NET LIABILITIES (9,388 ) (1,913 )

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings (9,488 ) (2,013 )
SHAREHOLDERS' FUNDS (9,388 ) (1,913 )

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 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.

SIMPSON'S ELECTRICAL SERVICES LIMITED (REGISTERED NUMBER: 04657694)

BALANCE SHEET - continued
28 FEBRUARY 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 24 November 2023 and were signed by:





M Simpson - Director


SIMPSON'S ELECTRICAL SERVICES LIMITED (REGISTERED NUMBER: 04657694)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023


1. STATUTORY INFORMATION

Simpson's Electrical Services Limited 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.

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 2003, 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 - 25% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


SIMPSON'S ELECTRICAL SERVICES LIMITED (REGISTERED NUMBER: 04657694)

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - 1 ).

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2022
and 28 February 2023 10,000
AMORTISATION
At 1 March 2022
and 28 February 2023 10,000
NET BOOK VALUE
At 28 February 2023 -
At 28 February 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 March 2022
and 28 February 2023 6,244 7,410 6,344 19,998
DEPRECIATION
At 1 March 2022 6,075 6,676 5,868 18,619
Charge for year 42 110 119 271
At 28 February 2023 6,117 6,786 5,987 18,890
NET BOOK VALUE
At 28 February 2023 127 624 357 1,108
At 28 February 2022 169 734 476 1,379

SIMPSON'S ELECTRICAL SERVICES LIMITED (REGISTERED NUMBER: 04657694)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Directors' current accounts - 2,451
Tax - 329
Prepayments 200 218
200 2,998

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Bank loans and overdrafts 3,328 2,870
Trade creditors 115 58
Social security and other taxes - 15
Other creditors 144 540
Directors' current accounts 99 -
Accrued expenses 951 1,046
4,637 4,529

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
28.2.23 28.2.22
£    £   
Bank loans - 1-2 years 2,949 2,942
Bank loans - 2-5 years 8,234 8,481
11,183 11,423

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 28.2.23 28.2.22
value: £    £   
100 Ordinary £1 100 100

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 28 February 2023 and 28 February 2022:

28.2.23 28.2.22
£    £   
M Simpson and Mrs A M Simpson
Balance outstanding at start of year 2,451 2,451
Amounts repaid (2,550 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (99 ) 2,451

SIMPSON'S ELECTRICAL SERVICES LIMITED (REGISTERED NUMBER: 04657694)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


11. ULTIMATE CONTROLLING PARTY

The controlling party is M Simpson.