Company Registration No. 6130257 (England and Wales)
Don Hughes Electrical Limited
Unaudited accounts
for the year ended 31 March 2023
Don Hughes Electrical Limited
Unaudited accounts
Contents
Don Hughes Electrical Limited
Company Information
for the year ended 31 March 2023
Directors
R A DeRosa
M DeRosa
Company Number
6130257 (England and Wales)
Registered Office
40 Park Avenue
Wrexham
LL12 7AH
Wales
Accountants
Bayliss Baines Limited
29 Chester Street
Wrexham
LL13 8BG
Chartered Certified Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of
Don Hughes Electrical Limited
for the year ended 31 March 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Don Hughes Electrical Limited for the year ended
31 March 2023 as set out on pages
5 -
8 from the Company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/uk/en/about-us/regulation/rulebook.html
Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf.
Bayliss Baines Limited
Chartered Certified Accountants
29 Chester Street
Wrexham
LL13 8BG
21 October 2023
Don Hughes Electrical Limited
Statement of financial position
as at 31 March 2023
Tangible assets
33,165
11,207
Cash at bank and in hand
236,967
265,349
Creditors: amounts falling due within one year
(240,877)
(223,558)
Net current assets
251,798
214,531
Total assets less current liabilities
284,963
225,738
Creditors: amounts falling due after more than one year
(13,053)
(18,633)
Provisions for liabilities
Deferred tax
(6,301)
(2,129)
Net assets
265,609
204,976
Called up share capital
100
100
Revaluation reserve
29,500
29,500
Profit and loss account
236,009
175,376
Shareholders' funds
265,609
204,976
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 21 October 2023 and were signed on its behalf by
R A DeRosa
Director
Company Registration No. 6130257
Don Hughes Electrical Limited
Notes to the Accounts
for the year ended 31 March 2023
Don Hughes Electrical Limited is a private company, limited by shares, registered in England and Wales, registration number 6130257. The registered office is 40 Park Avenue, Wrexham, LL12 7AH, Wales.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% reducing balance basis
Motor vehicles
25% reducing balance basis
Fixtures & fittings
20% reducing balance basis
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Don Hughes Electrical Limited
Notes to the Accounts
for the year ended 31 March 2023
4
Intangible fixed assets
Goodwill
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2022
7,827
44,720
7,701
60,248
Additions
782
21,574
9,560
31,916
At 31 March 2023
8,609
66,294
17,261
92,164
At 1 April 2022
5,148
39,623
4,270
49,041
Charge for the year
692
6,668
2,598
9,958
At 31 March 2023
5,840
46,291
6,868
58,999
At 31 March 2023
2,769
20,003
10,393
33,165
At 31 March 2022
2,679
5,097
3,431
11,207
Amounts falling due within one year
Trade debtors
250,606
166,557
Accrued income and prepayments
3,602
4,683
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
5,520
5,359
Trade creditors
47,277
17,727
Taxes and social security
97,913
82,128
Other creditors
5,991
2,855
Loans from directors
84,176
115,489
Don Hughes Electrical Limited
Notes to the Accounts
for the year ended 31 March 2023
8
Creditors: amounts falling due after more than one year
2023
2022
9
Deferred taxation
2023
2022
Accelerated capital allowances
6,301
2,129
Provision at start of year
2,129
2,426
Charged/(credited) to the profit and loss account
4,172
(297)
Provision at end of year
6,301
2,129
10
Average number of employees
During the year the average number of employees was 8 (2022: 8).