Caseware UK (AP4) 2022.0.179 2022.0.179 2023-08-312023-08-31falsefalse2022-09-01No description of principal activity458trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10918939 2022-09-01 2023-08-31 10918939 2021-09-01 2022-08-31 10918939 2023-08-31 10918939 2022-08-31 10918939 c:Director1 2022-09-01 2023-08-31 10918939 c:Director2 2022-09-01 2023-08-31 10918939 c:Director2 2023-08-31 10918939 c:RegisteredOffice 2022-09-01 2023-08-31 10918939 d:Buildings 2022-09-01 2023-08-31 10918939 d:Buildings 2023-08-31 10918939 d:Buildings 2022-08-31 10918939 d:Buildings d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 10918939 d:PlantMachinery 2022-09-01 2023-08-31 10918939 d:PlantMachinery 2023-08-31 10918939 d:PlantMachinery 2022-08-31 10918939 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 10918939 d:MotorVehicles 2022-09-01 2023-08-31 10918939 d:MotorVehicles 2023-08-31 10918939 d:MotorVehicles 2022-08-31 10918939 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 10918939 d:FurnitureFittings 2022-09-01 2023-08-31 10918939 d:FurnitureFittings 2023-08-31 10918939 d:FurnitureFittings 2022-08-31 10918939 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 10918939 d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 10918939 d:CurrentFinancialInstruments 2023-08-31 10918939 d:CurrentFinancialInstruments 2022-08-31 10918939 d:Non-currentFinancialInstruments 2023-08-31 10918939 d:Non-currentFinancialInstruments 2022-08-31 10918939 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 10918939 d:CurrentFinancialInstruments d:WithinOneYear 2022-08-31 10918939 d:Non-currentFinancialInstruments d:AfterOneYear 2023-08-31 10918939 d:Non-currentFinancialInstruments d:AfterOneYear 2022-08-31 10918939 d:ShareCapital 2023-08-31 10918939 d:ShareCapital 2022-08-31 10918939 d:RetainedEarningsAccumulatedLosses 2023-08-31 10918939 d:RetainedEarningsAccumulatedLosses 2022-08-31 10918939 c:OrdinaryShareClass1 2022-09-01 2023-08-31 10918939 c:OrdinaryShareClass1 2023-08-31 10918939 c:OrdinaryShareClass1 2022-08-31 10918939 c:FRS102 2022-09-01 2023-08-31 10918939 c:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 10918939 c:FullAccounts 2022-09-01 2023-08-31 10918939 c:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 iso4217:GBP xbrli:shares xbrli:pure
Registered number: 10918939










ELECTRICITY ASSET SERVICES LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

 
ELECTRICITY ASSET SERVICES LTD
 

COMPANY INFORMATION


Directors
Ms A L Herron 
Mr S Herron (appointed 16 August 2023)




Registered number
10918939



Registered office
The Bristol Office
2nd Floor

5 High Street

Westbury-On-Trym

Bristol

BS9 3BY




Accountants
EQ Accountants Limited
Chartered Accountants

Pentland House

Saltire Centre

Glenrothes

Fife

KY6 2AH





 
ELECTRICITY ASSET SERVICES LTD
REGISTERED NUMBER: 10918939

STATEMENT OF FINANCIAL POSITION
AS AT 31 AUGUST 2023

2023
2022
£
£

Fixed assets
  

Tangible assets
 4 
1,934,380
662,388

  
1,934,380
662,388

Current assets
  

Stocks
  
80,000
6,492

Debtors: amounts falling due within one year
 5 
714,471
89,480

Bank and cash balances
  
418,340
578,125

  
1,212,811
674,097

Creditors: amounts falling due within one year
 6 
(772,040)
(327,271)

Net current assets
  
 
 
440,771
 
 
346,826

Total assets less current liabilities
  
2,375,151
1,009,214

Creditors: amounts falling due after more than one year
 7 
(966,903)
(168,702)

Provisions for liabilities
  

Deferred tax
  
(271,201)
(45,438)

  
 
 
(271,201)
 
 
(45,438)

Net assets
  
1,137,047
795,074


Capital and reserves
  

Called up share capital 
 8 
20,000
20,000

Profit and loss account
  
1,117,047
775,074

  
1,137,047
795,074


Page 1

 
ELECTRICITY ASSET SERVICES LTD
REGISTERED NUMBER: 10918939

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 AUGUST 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 16 February 2024.




Ms A L Herron
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
ELECTRICITY ASSET SERVICES LTD
 

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

1.


General information

Electricity Asset Services Ltd is a private company, limited by shares, incorporated in England with registration number 10918939. The registered office is The Bristol Office, 2nd Floor, 5 High Street, Westbury on Trym, Bristol, BS9 3BY.
The financial statements are presented in Sterling which is the functional currency of the company and rounded to the nearest £.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
ELECTRICITY ASSET SERVICES LTD
 

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

2.Accounting policies (continued)

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the following basis.

Depreciation is provided on the following basis:

Freehold property
-
Not depreciated
Plant and machinery
-
15%
Reducing balance
Motor vehicles
-
25%
Reducing balance
Fixtures and fittings
-
20%
Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
ELECTRICITY ASSET SERVICES LTD
 

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

2.Accounting policies (continued)

 
2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.7

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 45 (2022 - 8).

Page 5

 
ELECTRICITY ASSET SERVICES LTD
 

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

4.


Tangible fixed assets





Freehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£
£



Cost or valuation


At 1 September 2022
258,355
285,661
253,654
35,760
833,430


Additions
112,656
326,441
1,037,440
22,201
1,498,738



At 31 August 2023

371,011
612,102
1,291,094
57,961
2,332,168



Depreciation


At 1 September 2022
-
54,412
101,313
15,317
171,042


Charge for the year on owned assets
-
71,914
148,950
5,882
226,746



At 31 August 2023

-
126,326
250,263
21,199
397,788



Net book value



At 31 August 2023
371,011
485,776
1,040,831
36,762
1,934,380



At 31 August 2022
258,355
231,249
152,341
20,443
662,388


5.


Debtors

2023
2022
£
£


Trade debtors
677,156
65,385

Other debtors
37,315
24,095

714,471
89,480


Page 6

 
ELECTRICITY ASSET SERVICES LTD
 

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

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
20,000
63,813

Trade creditors
157,230
23,753

Other taxation and social security
273,726
100,096

Obligations under finance lease and hire purchase contracts
229,702
58,818

Other creditors
85,032
80,791

Accruals and deferred income
6,350
-

772,040
327,271


Secured Loans
Hire purchase liabilities falling due within one year are secured over the assets to which they relate. 
Bank loans are secured by a standard charge over the property owned by the company. 


7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
154,662
33,361

Net obligations under finance leases and hire purchase contracts
812,241
135,341

966,903
168,702


Secured Loans
Hire purchase liabilities falling due after more than one year are secured over the assets to which they relate. 
Bank loans are secured by a standard charge over the property owned by the company. 


8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



20,000 (2022 - 20,000) Ordinary shares of £1.00 each
20,000
20,000



Page 7