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REGISTERED NUMBER: 06726100 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2023

for

Spectrum Electrical Solutions UK Limited

Spectrum Electrical Solutions UK Limited (Registered number: 06726100)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

Spectrum Electrical Solutions UK Limited

Company Information
for the Year Ended 31 October 2023







DIRECTORS: G Stewart
B E Stewart
L J Stewart





SECRETARY: Mrs J Stewart





REGISTERED OFFICE: 4 Claridge Court
Lower Kings Road
Berkhamsted
Hertfordshire
HP4 2AF





REGISTERED NUMBER: 06726100 (England and Wales)





ACCOUNTANTS: Haines Watts (Berkhamsted) Limited
Chartered Accountants
4 Claridge Court
Lower Kings Road
Berkhamsted
Hertfordshire
HP4 2AF

Spectrum Electrical Solutions UK Limited (Registered number: 06726100)

Balance Sheet
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 10,575 9,357
10,575 9,357

CURRENT ASSETS
Stocks 500 1,000
Debtors 7 248,647 107,464
Cash at bank and in hand 118,607 142,864
367,754 251,328
CREDITORS
Amounts falling due within one year 8 202,332 95,782
NET CURRENT ASSETS 165,422 155,546
TOTAL ASSETS LESS CURRENT LIABILITIES 175,997 164,903

PROVISIONS FOR LIABILITIES 2,381 1,778
NET ASSETS 173,616 163,125

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings 173,612 163,121
SHAREHOLDERS' FUNDS 173,616 163,125

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

Spectrum Electrical Solutions UK Limited (Registered number: 06726100)

Balance Sheet - continued
31 October 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 Board of Directors and authorised for issue on 8 February 2024 and were signed on its behalf by:





G Stewart - Director


Spectrum Electrical Solutions UK Limited (Registered number: 06726100)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

Spectrum Electrical Solutions UK 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents income receivable from the provision of electrical contracting services and is stated net of value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2009, has been amortised evenly over its estimated useful life of five 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
Tangible fixed assets are initially recognised at cost and subsequently measured at cost less accumulated depreciation and impairment. Where parts of an item of tangible fixed assets have different useful lives, they are accounted for as a separate item of tangible fixed assets.

Depreciation is provided at the following annual rates in order to write off each asset over its useful
estimated life, on a straight line basis or, if held under a finance lease, over the lease term, whichever is shorter.

Plant and machinery- 20% on reducing balance

Stocks and work in progress
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.


Spectrum Electrical Solutions UK Limited (Registered number: 06726100)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

3. 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
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 makes contributions to Self Invested Personal Pension Schemes on behalf of the Director and employees and these contributions are charged to the profit and loss account in the period to which they relate.

4. EMPLOYEES AND DIRECTORS

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

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2022
and 31 October 2023 500
AMORTISATION
At 1 November 2022
and 31 October 2023 500
NET BOOK VALUE
At 31 October 2023 -
At 31 October 2022 -

Spectrum Electrical Solutions UK Limited (Registered number: 06726100)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

6. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2022 47,099
Additions 3,862
At 31 October 2023 50,961
DEPRECIATION
At 1 November 2022 37,742
Charge for year 2,644
At 31 October 2023 40,386
NET BOOK VALUE
At 31 October 2023 10,575
At 31 October 2022 9,357

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade debtors 198,802 57,470
Other debtors 49,845 49,994
248,647 107,464

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade creditors 129,605 26,260
Taxation and social security 68,384 65,830
Other creditors 4,343 3,692
202,332 95,782

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.10.23 31.10.22
£    £   
Within one year 6,918 -
Between one and five years - 13,701
6,918 13,701

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Spectrum Electrical Solutions UK Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Spectrum Electrical Solutions UK Limited for the year ended 31 October 2023 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Spectrum Electrical Solutions UK Limited, as a body, in accordance with the terms of our engagement letter dated 16 November 2015. Our work has been undertaken solely to prepare for your approval the financial statements of Spectrum Electrical Solutions UK Limited and state those matters that we have agreed to state to the Board of Directors of Spectrum Electrical Solutions UK Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Spectrum Electrical Solutions UK Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Spectrum Electrical Solutions UK Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Spectrum Electrical Solutions UK Limited. You consider that Spectrum Electrical Solutions UK Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Spectrum Electrical Solutions UK Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Haines Watts (Berkhamsted) Limited
Chartered Accountants
4 Claridge Court
Lower Kings Road
Berkhamsted
Hertfordshire
HP4 2AF


8 February 2024