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REGISTERED NUMBER: 04159839 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

WADYS ELECTRICAL LIMITED

WADYS ELECTRICAL LIMITED (REGISTERED NUMBER: 04159839)

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


WADYS ELECTRICAL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 March 2023







DIRECTORS: D J Wady
S J Wady
D G Bishop
D Allison
S D Rennie





SECRETARY: S J Wady





REGISTERED OFFICE: 11 Monoux Road
Wootton
Bedford
Bedfordshire
MK43 9JR





REGISTERED NUMBER: 04159839 (England and Wales)





ACCOUNTANTS: GB Accounting Solutions Limited
Millennium Studios
Bedford Technology Park
Thurleigh
Bedford
Bedfordshire
MK44 2YP

WADYS ELECTRICAL LIMITED (REGISTERED NUMBER: 04159839)

BALANCE SHEET
31 March 2023

31.3.23 31.3.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 111,414 125,763

CURRENT ASSETS
Stocks 15,000 15,000
Debtors 5 368,333 755,978
Cash at bank and in hand 271,879 200,194
655,212 971,172
CREDITORS
Amounts falling due within one year 6 (406,109 ) (585,186 )
NET CURRENT ASSETS 249,103 385,986
TOTAL ASSETS LESS CURRENT
LIABILITIES

360,517

511,749

CREDITORS
Amounts falling due after more than one year 7 (42,305 ) (58,234 )

PROVISIONS FOR LIABILITIES (5,722 ) (5,722 )
NET ASSETS 312,490 447,793

CAPITAL AND RESERVES
Called up share capital 119 100
Share premium 8 20,441 -
Retained earnings 8 291,930 447,693
SHAREHOLDERS' FUNDS 312,490 447,793

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 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.

WADYS ELECTRICAL LIMITED (REGISTERED NUMBER: 04159839)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 November 2023 and were signed on its behalf by:





D J Wady - Director


WADYS ELECTRICAL LIMITED (REGISTERED NUMBER: 04159839)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 March 2023


1. STATUTORY INFORMATION

Wadys Electrical 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.

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 etc - 25% on reducing balance and 15% 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 Income Statement, 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.

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.

WADYS ELECTRICAL LIMITED (REGISTERED NUMBER: 04159839)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 March 2023


2. ACCOUNTING POLICIES - continued

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 estimated 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2022 - 24 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022 296,822
Additions 30,793
Disposals (40,404 )
At 31 March 2023 287,211
DEPRECIATION
At 1 April 2022 171,059
Charge for year 31,322
Eliminated on disposal (26,584 )
At 31 March 2023 175,797
NET BOOK VALUE
At 31 March 2023 111,414
At 31 March 2022 125,763

WADYS ELECTRICAL LIMITED (REGISTERED NUMBER: 04159839)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 March 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 April 2022 90,944
Additions 29,800
Disposals (26,809 )
Transfer to ownership 49,420
At 31 March 2023 143,355
DEPRECIATION
At 1 April 2022 74,844
Charge for year 24,259
Eliminated on disposal (15,499 )
Transfer to ownership (15,867 )
At 31 March 2023 67,737
NET BOOK VALUE
At 31 March 2023 75,618
At 31 March 2022 16,100

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 333,935 701,990
Amounts owed by group undertakings 4,811 6,624
Other debtors 29,587 47,364
368,333 755,978

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Hire purchase contracts 17,250 23,863
Trade creditors 271,791 414,572
Taxation and social security 60,242 68,033
Other creditors 56,826 78,718
406,109 585,186

WADYS ELECTRICAL LIMITED (REGISTERED NUMBER: 04159839)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 March 2023


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans 31,667 41,667
Hire purchase contracts 10,638 16,567
42,305 58,234

8. RESERVES
Retained Share
earnings premium Totals
£    £    £   

At 1 April 2022 447,693 - 447,693
Deficit for the year (113,131 ) (113,131 )
Dividends (42,632 ) (42,632 )
Bonus share issue - 20,441 20,441
At 31 March 2023 291,930 20,441 312,371

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2023 and 31 March 2022:

31.3.23 31.3.22
£    £   
D J Wady and S J Wady
Balance outstanding at start of year - -
Amounts advanced 18,822 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 18,822 -

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is D J Wady.