Ringway Electrical Southern Limited 04652905 false 2023-02-01 2024-01-31 2024-01-31 The principal activity of the company is electrical engineering consultancy and maintenance services. Digita Accounts Production Advanced 6.30.9574.0 true 04652905 2023-02-01 2024-01-31 04652905 2024-01-31 04652905 bus:OrdinaryShareClass1 2024-01-31 04652905 2 2024-01-31 04652905 core:RetainedEarningsAccumulatedLosses 2024-01-31 04652905 core:ShareCapital 2024-01-31 04652905 core:CurrentFinancialInstruments 2024-01-31 04652905 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 04652905 core:ConstructionInProgressAssetsUnderConstruction 2024-01-31 04652905 core:FurnitureFittingsToolsEquipment 2024-01-31 04652905 core:LandBuildings 2024-01-31 04652905 core:MotorVehicles 2024-01-31 04652905 bus:SmallEntities 2023-02-01 2024-01-31 04652905 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 04652905 bus:FullAccounts 2023-02-01 2024-01-31 04652905 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 04652905 bus:RegisteredOffice 2023-02-01 2024-01-31 04652905 bus:Director1 2023-02-01 2024-01-31 04652905 bus:OrdinaryShareClass1 2023-02-01 2024-01-31 04652905 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 04652905 core:ConstructionInProgressAssetsUnderConstruction 2023-02-01 2024-01-31 04652905 core:FurnitureFittings 2023-02-01 2024-01-31 04652905 core:FurnitureFittingsToolsEquipment 2023-02-01 2024-01-31 04652905 core:LandBuildings 2023-02-01 2024-01-31 04652905 core:MotorVehicles 2023-02-01 2024-01-31 04652905 core:OfficeEquipment 2023-02-01 2024-01-31 04652905 core:PlantMachinery 2023-02-01 2024-01-31 04652905 countries:EnglandWales 2023-02-01 2024-01-31 04652905 2023-01-31 04652905 core:ConstructionInProgressAssetsUnderConstruction 2023-01-31 04652905 core:FurnitureFittingsToolsEquipment 2023-01-31 04652905 core:LandBuildings 2023-01-31 04652905 core:MotorVehicles 2023-01-31 04652905 2022-02-01 2023-01-31 04652905 2023-01-31 04652905 bus:OrdinaryShareClass1 2023-01-31 04652905 2 2023-01-31 04652905 core:RetainedEarningsAccumulatedLosses 2023-01-31 04652905 core:ShareCapital 2023-01-31 04652905 core:CurrentFinancialInstruments 2023-01-31 04652905 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 04652905 core:ConstructionInProgressAssetsUnderConstruction 2023-01-31 04652905 core:FurnitureFittingsToolsEquipment 2023-01-31 04652905 core:LandBuildings 2023-01-31 04652905 core:MotorVehicles 2023-01-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 04652905

Ringway Electrical Southern Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 January 2024

 

Ringway Electrical Southern Limited

Contents

Company Information

1

Director's Report

2

Statement of Financial Position

3 to 4

Notes to the Unaudited Financial Statements

5 to 9

 

Ringway Electrical Southern Limited

Company Information

Director

DW LeGrice

Registered office

Salatin House
19 Cedar Road
Sutton
Surrey
SM2 5DA

Accountants

Harmer Slater Limited
Salatin House
19 Cedar Road
Sutton
Surrey
SM2 5DA

 

Ringway Electrical Southern Limited

Director's Report for the Year Ended 31 January 2024

The director presents his report and the financial statements for the year ended 31 January 2024.

Principal activity

The principal activity of the company is electrical engineering consultancy and maintenance services.

Director of the company

The director who held office during the year was as follows:

DW LeGrice

Going concern

The company ceased trading on 31/01/2023.

Small companies provision statement

The directors have taken advantage of the small companies exemptions provided by sections 414B and 415A of the Companies Act 2006 from the requirement to prepare a strategic report and in preparing the directors' report on the grounds that the company is entitled to prepare its accounts for the year in accordance with the small companies regime.

Approved and authorised by the director on 22 March 2024
 

.........................................
DW LeGrice
Director

 

Ringway Electrical Southern Limited

(Registration number: 04652905)
Statement of Financial Position as at 31 January 2024

Note

2024
£

2023
£

Non-current assets

 

Property, plant and equipment

4

-

388,975

Current assets

 

Receivables

5

371,557

55,017

Cash at bank and in hand

 

491,792

551,628

 

863,349

606,645

Payables: Amounts falling due within one year

6

(3,000)

(9,704)

Net current assets

 

860,349

596,941

Net assets

 

860,349

985,916

Equity

 

Called up share capital

7

100

100

Retained earnings

7

860,249

985,816

Shareholders' funds

 

860,349

985,916

For the financial year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A - small entities.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Income statement.

 

Ringway Electrical Southern Limited

(Registration number: 04652905)
Statement of Financial Position as at 31 January 2024 (continued)

The financial statements of Ringway Electrical Southern Limited were approved and authorised for issue by the director on 22 March 2024
 

.........................................

DW LeGrice
Director

 

Ringway Electrical Southern Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 January 2024

1

General information

Ringway Electrical Southern Limited (the 'company') is a private company limited by share capital, registered in England and Wales under the Companies Act. The address of the registered office is given on page 1.

2

Accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The functional currency of the company is considered to be pound sterling (£) because that is the currency of the primary economic environment in which the company operates. The financial statements are presented in pound sterling (£).

Critical judgements and key sources of estimation uncertainties

There were no key sources of estimation uncertainties or critical judgements made by the directors in the process of applying the company’s accounting policies with significant effect on the amounts recognised in the financial statements.

Revenue recognition

Revenue comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Revenue is shown as net of value added tax, returns, rebates ,discounts and other sales taxes.

Tax

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

The current income 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 taxable income.

 

Ringway Electrical Southern Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 January 2024 (continued)

2

Accounting policies (continued)

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Property, plant and equipment

Property, plant and equipment are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of property, plant and equipment includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

33% straight line

Motor vehicles

25% straight line

Fixtures and fittings

33% straight line

Computer equipment

33% straight line

Receivables

Receivables are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Receivables are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade receivables is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Payables

Payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Payables are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Payables are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Ringway Electrical Southern Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 January 2024 (continued)

2

Accounting policies (continued)

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2023 - 1).

 

Ringway Electrical Southern Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 January 2024 (continued)

4

Property, plant and equipment

Land and buildings
£

Furniture, fittings & equipment
 £

Motor vehicles
 £

Plant and machinery
 £

Total
£

Cost or valuation

At 1 February 2023

388,975

14,440

68,701

9,277

481,393

Disposals

(388,975)

(14,440)

(68,701)

(9,277)

(481,393)

At 31 January 2024

-

-

-

-

-

Depreciation

At 1 February 2023

-

14,440

68,701

9,277

92,418

Eliminated on disposal

-

(14,440)

(68,701)

(9,277)

(92,418)

At 31 January 2024

-

-

-

-

-

Carrying amount

At 31 January 2024

-

-

-

-

-

At 31 January 2023

388,975

-

-

-

388,975

 

Ringway Electrical Southern Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 January 2024 (continued)

5

Receivables

2024
£

2023
£

Other receivables

338,975

55,017

Corporation tax & VAT refund due

32,582

-

371,557

55,017

6

Payables

2024
£

2023
£

Due within one year

Loans and borrowings

-

51

Accruals

3,000

9,653

3,000

9,704

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100