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Registered number: 6778304
Wickersley Electrical Solutions Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2023
Branagans Accountancy Services Ltd
352 Herringthorpe Valley Rd
Rotherham
S60 4LA
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 6778304
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 32,090 42,787
32,090 42,787
CURRENT ASSETS
Stocks 5 1,450 1,450
Debtors 6 31,207 15,808
Cash at bank and in hand 2,506 8,838
35,163 26,096
Creditors: Amounts Falling Due Within One Year 7 (61,368 ) (69,411 )
NET CURRENT ASSETS (LIABILITIES) (26,205 ) (43,315 )
TOTAL ASSETS LESS CURRENT LIABILITIES 5,885 (528 )
Creditors: Amounts Falling Due After More Than One Year 8 (14,023 ) (23,905 )
NET LIABILITIES (8,138 ) (24,433 )
CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Revaluation reserve 11 2,194 -
Profit and Loss Account (11,332 ) (25,433 )
SHAREHOLDERS' FUNDS (8,138) (24,433)
Page 1
Page 2
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Martin Gwynne
Director
19/01/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Wickersley Electrical Solutions Ltd Registered number 6778304 is a limited by shares company incorporated in England & Wales. The Registered Office is 3 Lockwood Road, East Herringthorpe, Rotherhamn, S65 3RH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% Reducing Balance
Motor Vehicles 25% Reducing Balance
Computer Equipment 20% Reducing Balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was as follows:4
2023 2022
Office and administration 2 2
Manufacturing 3 3
5 5
Page 3
Page 4
4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 January 2023 8,412 67,664 3,154 79,230
As at 31 December 2023 8,412 67,664 3,154 79,230
Depreciation
As at 1 January 2023 7,373 26,013 3,057 36,443
Provided during the period 260 10,413 24 10,697
As at 31 December 2023 7,633 36,426 3,081 47,140
Net Book Value
As at 31 December 2023 779 31,238 73 32,090
As at 1 January 2023 1,039 41,651 97 42,787
5. Stocks
2023 2022
£ £
Materials 1,450 1,450
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 14,677 -
Other debtors 13,661 14,680
VAT - 1,128
28,338 15,808
Due after more than one year
Corporation tax recoverable assets 2,869 -
2,869 -
31,207 15,808
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 3,330 3,210
Bank loans and overdrafts 38,725 48,065
Corporation tax 2,869 2,194
Other taxes and social security 1,215 -
VAT 96 -
Other creditors 14,268 13,842
Accruals and deferred income 865 900
Director's loan account - 1,200
61,368 69,411
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Page 5
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 14,023 23,905
14,023 23,905
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1,000 1,000
10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 January 2023 Amounts advanced Amounts repaid Amounts written off As at 31 December 2023
£ £ £ £ £
Mr Martin Gwynne 6,750 2,000 - - 8,750
The above loan is unsecured, interest free and repayable on demand.
11. Reserves
Revaluation Reserve
£
Transfer to profit and loss 2,194
As at 31 December 2023 2,194
Page 5