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REGISTERED NUMBER: 12452771 (England and Wales)















Unaudited Financial Statements for the Year Ended 28 February 2023

for

Ipswich Electrical Ltd

Ipswich Electrical Ltd (Registered number: 12452771)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Ipswich Electrical Ltd

Company Information
for the Year Ended 28 February 2023







DIRECTOR: Mrs K S Pickering





REGISTERED OFFICE: 91 Gosford Way
Felixstowe
Suffolk
IP11 9PD





REGISTERED NUMBER: 12452771 (England and Wales)





ACCOUNTANTS: Suffolk Tax Accountants Group
9 Byford Court
Crockatt Road
Hadleigh
Suffolk
IP7 6RD

Ipswich Electrical Ltd (Registered number: 12452771)

Balance Sheet
28 February 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,055 2,812

CURRENT ASSETS
Debtors 5 26,577 5,961
Cash at bank 1,022 791
27,599 6,752
CREDITORS
Amounts falling due within one year 6 32,462 9,548
NET CURRENT LIABILITIES (4,863 ) (2,796 )
TOTAL ASSETS LESS CURRENT LIABILITIES (3,808 ) 16

CAPITAL AND RESERVES
Called up share capital 7 1 1
Retained earnings (3,809 ) 15
SHAREHOLDERS' FUNDS (3,808 ) 16

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 her 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 November 2023 and were signed by:





Mrs K S Pickering - Director


Ipswich Electrical Ltd (Registered number: 12452771)

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

1. STATUTORY INFORMATION

Ipswich Electrical 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.

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.
Motor vehicles - 25% on reducing balance

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.

Going concern
Reserves have fallen in the company this year being -£3,809 at the financial year-end compared to £15 the year before. The Director has reviewed the company cash-flows over the next twelve months and is committed to supporting the company and believes it is able to meet its debts as they fall due. As such the gong concern accounting treatment is appropriate here.

3. EMPLOYEES AND DIRECTORS

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

Ipswich Electrical Ltd (Registered number: 12452771)

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

4. TANGIBLE FIXED ASSETS
Motor
vehicles
£   
COST
At 1 March 2022 5,000
Disposals (2,500 )
At 28 February 2023 2,500
DEPRECIATION
At 1 March 2022 2,188
Charge for year 380
Eliminated on disposal (1,123 )
At 28 February 2023 1,445
NET BOOK VALUE
At 28 February 2023 1,055
At 28 February 2022 2,812

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade debtors - 3,454
Other debtors 26,577 2,507
26,577 5,961

Deferred tax asset
28.2.23 28.2.22
£    £   
Accelerated capital allowances 387 -
Tax losses carried forward 997 -
1,384 -

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Taxation and social security 31,562 8,577
Other creditors 900 971
32,462 9,548

7. CALLED UP SHARE CAPITAL

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

Ipswich Electrical Ltd (Registered number: 12452771)

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

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

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

28.2.23 28.2.22
£    £   
Mrs K S Pickering
Balance outstanding at start of year 2,507 -
Amounts advanced 23,844 39,944
Amounts repaid (7,515 ) (37,437 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 18,836 2,507