BrightAccountsProduction v1.0.0 v1.0.0 2022-11-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company continued to be electrical contracting. 20 February 2024 14 14 NI615077 2023-10-31 NI615077 2022-10-31 NI615077 2021-10-31 NI615077 2022-11-01 2023-10-31 NI615077 2021-11-01 2022-10-31 NI615077 uk-bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 NI615077 uk-curr:PoundSterling 2022-11-01 2023-10-31 NI615077 uk-bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 NI615077 uk-bus:AbridgedAccounts 2022-11-01 2023-10-31 NI615077 uk-core:ShareCapital 2023-10-31 NI615077 uk-core:ShareCapital 2022-10-31 NI615077 uk-core:RetainedEarningsAccumulatedLosses 2023-10-31 NI615077 uk-core:RetainedEarningsAccumulatedLosses 2022-10-31 NI615077 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-10-31 NI615077 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2022-10-31 NI615077 uk-bus:FRS102 2022-11-01 2023-10-31 NI615077 uk-core:Goodwill 2022-11-01 2023-10-31 NI615077 uk-core:Buildings 2022-11-01 2023-10-31 NI615077 uk-core:PlantMachinery 2022-11-01 2023-10-31 NI615077 uk-core:Goodwill 2022-10-31 NI615077 uk-core:Goodwill 2023-10-31 NI615077 2022-11-01 2023-10-31 NI615077 uk-bus:Director1 2022-11-01 2023-10-31 NI615077 uk-bus:Director2 2022-11-01 2023-10-31 NI615077 uk-bus:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Company Registration Number: NI615077
 
 
AM Electrical Services (NI) LTD
 
Abridged Unaudited Financial Statements
 
for the financial year ended 31 October 2023
AM Electrical Services (NI) LTD
Company Registration Number: NI615077
ABRIDGED BALANCE SHEET
as at 31 October 2023

2023 2022
Notes £ £
 
Fixed Assets
Tangible assets 5 87,999 76,565
───────── ─────────
 
Current Assets
Stocks 845,334 696,651
Debtors 917,549 295,286
Cash at bank and in hand 344,337 105,444
───────── ─────────
2,107,220 1,097,381
───────── ─────────
Creditors: amounts falling due within one year (962,872) (442,121)
───────── ─────────
Net Current Assets 1,144,348 655,260
───────── ─────────
Total Assets less Current Liabilities 1,232,347 731,825
 
Creditors:
amounts falling due after more than one year (48,890) (37,424)
───────── ─────────
Net Assets 1,183,457 694,401
═════════ ═════════
 
Capital and Reserves
Called up share capital 2 2
Retained earnings 1,183,455 694,399
───────── ─────────
Shareholders' Funds 1,183,457 694,401
═════════ ═════════
 
The financial statements have been prepared 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).
           
All of the members have consented to the preparation of abridged accounts in accordance with section 444(2A) of the Companies Act 2006.
           
The company has taken advantage of the exemption under section 444 not to file the Abridged Profit and Loss Account and Directors' Report.
For the financial year ended 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Board and authorised for issue on 20 February 2024 and signed on its behalf by
           
           
________________________________     ________________________________
Mr. Anthony Feeney     Mr. Martin O'Neill
Director     Director
           



AM Electrical Services (NI) LTD
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
for the financial year ended 31 October 2023

   
1. General Information
 
AM Electrical Services (NI) LTD is a company limited by shares incorporated in Northern Ireland. 44 Cadian Road, Eglish, Co. Tyrone, BT70 1LY, United Kingdom is the registered office, which is also the principal place of business of the company . The nature of the company's operations and its principal activities are set out in the Directors' Report.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the year ended 31 October 2023 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
 
Intangible assets
 
Goodwill
Purchased goodwill arising on the acquisition of a business represents the excess of the acquisition cost over the fair value of the identifiable net assets including other intangible fixed assets when they were acquired. Purchased goodwill is capitalised in the Balance Sheet and amortised on a straight line basis over its economic useful life of 5 years, which is estimated to be the period during which benefits are expected to arise.  On disposal of a business any goodwill not yet amortised is included in determining the profit or loss on sale of the business.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Short leasehold property - No depreciation
  Plant and machinery - 20% Straight line
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Leasing and hire purchases
Tangible assets held under leasing and Hire Purchases arrangements which transfer substantially all the risks and rewards of ownership to the company are capitalised and included in the Balance Sheet at their cost or valuation, less depreciation. The corresponding commitments are recorded as liabilities. Payments in respect of these obligations are treated as consisting of capital and interest elements, with interest charged to the Profit and Loss Account.
 
Stocks
Stocks are valued at the lower of cost and net realisable value.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Employee benefits
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.
 
Taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Employees
 
The average monthly number of employees, including directors, during the financial year was 14, (2022 - 14).
 
  2023 2022
  Number Number
 
Employee 14 14
  ═════════ ═════════
       
4. Intangible assets
     
  Goodwill Total
  £ £
Cost
At 1 November 2022 55,000 55,000
  ───────── ─────────
 
At 31 October 2023 55,000 55,000
  ───────── ─────────
Amortisation
 
At 31 October 2023 55,000 55,000
  ───────── ─────────
Net book value
At 31 October 2023 - -
  ═════════ ═════════
         
5. Tangible assets
  Short Plant and Total
  leasehold machinery  
  property    
  £ £ £
Cost
At 1 November 2022 40,821 197,877 238,698
Additions - 40,995 40,995
Disposals - (14,738) (14,738)
  ───────── ───────── ─────────
At 31 October 2023 40,821 224,134 264,955
  ───────── ───────── ─────────
Depreciation
At 1 November 2022 - 162,133 162,133
Charge for the financial year - 29,392 29,392
On disposals - (14,569) (14,569)
  ───────── ───────── ─────────
At 31 October 2023 - 176,956 176,956
  ───────── ───────── ─────────
Net book value
At 31 October 2023 40,821 47,178 87,999
  ═════════ ═════════ ═════════
At 31 October 2022 40,821 35,744 76,565
  ═════════ ═════════ ═════════
       
6. Capital commitments
 
The company had no material capital commitments at the financial year-ended 31 October 2023.
   
7. Post-Balance Sheet Events
 
There have been no significant events affecting the company since the financial year-end.