REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31 December 2023 |
for |
Norwood Electrical (UK) Limited |
REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31 December 2023 |
for |
Norwood Electrical (UK) Limited |
Norwood Electrical (UK) Limited (Registered number: 04592283) |
Contents of the Financial Statements |
for the Year Ended 31 December 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Norwood Electrical (UK) Limited |
Company Information |
for the Year Ended 31 December 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
The Mills |
Canal Street |
Derby |
DE1 2RJ |
Norwood Electrical (UK) Limited (Registered number: 04592283) |
Balance Sheet |
31 December 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Norwood Electrical (UK) Limited (Registered number: 04592283) |
Notes to the Financial Statements |
for the Year Ended 31 December 2023 |
1. | STATUTORY INFORMATION |
Norwood Electrical (UK) Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents net invoiced sales of services, excluding value added tax where applicable. Turnover is accounted for in the year in which the services are provided. In the case of work in progress it includes relevant costs and overheads plus attributable profit to date. |
Goodwill |
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, has been fully amortised. |
Tangible fixed assets |
Equipment | - |
Fixtures and fittings | - |
Computer equipment | - |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
Grants |
Revenue grants are recognised in the profit and loss account so as to match them with the expenditure towards which they are intended to contribute. |
Debt factoring |
The debts factored are included within trade debtors with a financing limit relating to proceeds received from the debt factor included within creditors. |
The interest element and other factoring charges are recognised within the profit and loss account as they accrue. |
Leasing commitments |
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Norwood Electrical (UK) Limited (Registered number: 04592283) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 January 2023 |
and 31 December 2023 |
AMORTISATION |
At 1 January 2023 |
and 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Computer |
Equipment | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 January 2023 |
Additions |
At 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
Directors' current account | 3,429 | - |
Prepayments |
Norwood Electrical (UK) Limited (Registered number: 04592283) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Invoice discounting account |
Trade creditors |
Tax |
Social security and other taxes |
Other creditors |
Directors' current account | - | 14,220 |
Accrued expenses |
8. | LEASING AGREEMENTS |
The minimum lease payments on non-cancellable operating leases committed be be paid are £41,000 (2022 - £61,000) |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
Invoice discounting account |
10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
During the year a net advance of £3,429 were made to one of the directors. This was interest free and repayable on demand. |