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REGISTERED NUMBER: 06535473 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2023

for

W M Electrical Contractors (Hull)
Limited

W M Electrical Contractors (Hull)
Limited (Registered number: 06535473)

Contents of the Financial Statements
for the Year Ended 31 July 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


W M Electrical Contractors (Hull)
Limited

Company Information
for the Year Ended 31 July 2023







DIRECTORS: Mr S D Williams
Mr M J Murrey





SECRETARY: Mr M J Murrey





REGISTERED OFFICE: 15 Birch Drive
Willerby
Hull
East Yorkshire
HU10 6LB





REGISTERED NUMBER: 06535473 (England and Wales)





ACCOUNTANTS: Harris Lacey and Swain
Suite 1
The Riverside Building
Hessle
East Yorkshire
HU13 0DZ

W M Electrical Contractors (Hull)
Limited (Registered number: 06535473)

Balance Sheet
31 July 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 52,425 38,394

CURRENT ASSETS
Stocks 3,650 51,614
Debtors 5 159,729 127,994
Cash at bank 30,380 63,343
193,759 242,951
CREDITORS
Amounts falling due within one year 6 134,960 206,192
NET CURRENT ASSETS 58,799 36,759
TOTAL ASSETS LESS CURRENT
LIABILITIES

111,224

75,153

CREDITORS
Amounts falling due after more than one
year

7

73,316

24,419
NET ASSETS 37,908 50,734

CAPITAL AND RESERVES
Called up share capital 3,052 3,052
Retained earnings 34,856 47,682
37,908 50,734

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

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.

W M Electrical Contractors (Hull)
Limited (Registered number: 06535473)

Balance Sheet - continued
31 July 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 January 2024 and were signed on its behalf by:





Mr S D Williams - Director


W M Electrical Contractors (Hull)
Limited (Registered number: 06535473)

Notes to the Financial Statements
for the Year Ended 31 July 2023


1. STATUTORY INFORMATION

W M Electrical Contractors (Hull) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Although these estimates are based on the Directors’ best knowledge of the amount, events or actions, actual results ultimately differ from these estimates. The Directors do not consider there to be any material estimates and judgements.

Turnover
Revenue is measured at the fair value of the consideration received or receivable and represents the amount receivable for goods supplied or services rendered, net of returns, discounts and rebates allowed by the company and value added taxes.

The company recognises revenue when the significant risks and rewards of ownership have been transferred to the buyer; the company retains no continuing involvement or control over the goods; the amount of revenue can be measured reliably; it is probable that future economic benefits will flow to the entity and when the specific criteria relating to each of the company’s sales channels have been met, as described below.

The company provides electrical installation services to other people and organisations, these services are provided on a time and material basis.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on cost
Motor vehicles - 20% on cost
Computer equipment - 33% on cost

Stocks
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 items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments, including trade and other debtors and creditors are initially recognised at transaction value and subsequently measure at their settlement value.


W M Electrical Contractors (Hull)
Limited (Registered number: 06535473)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 August 2022 6,656 55,158 2,411 64,225
Additions 160 29,921 300 30,381
At 31 July 2023 6,816 85,079 2,711 94,606
DEPRECIATION
At 1 August 2022 5,442 18,749 1,640 25,831
Charge for year 354 15,644 352 16,350
At 31 July 2023 5,796 34,393 1,992 42,181
NET BOOK VALUE
At 31 July 2023 1,020 50,686 719 52,425
At 31 July 2022 1,214 36,409 771 38,394

W M Electrical Contractors (Hull)
Limited (Registered number: 06535473)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 August 2022 48,300
Additions 29,921
At 31 July 2023 78,221
DEPRECIATION
At 1 August 2022 9,858
Charge for year 5,984
At 31 July 2023 15,842
NET BOOK VALUE
At 31 July 2023 62,379
At 31 July 2022 38,442

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 154,030 127,994
Other debtors 5,699 -
159,729 127,994

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 14,003 11,229
Trade creditors 53,640 67,386
Taxation and social security 48,819 53,435
Other creditors 18,498 74,142
134,960 206,192

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts 36,786 24,419
Other creditors 36,530 -
73,316 24,419

W M Electrical Contractors (Hull)
Limited (Registered number: 06535473)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2023 2022
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Other loans more 5yrs instal 16,530 -

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 July 2023 and 31 July 2022:

2023 2022
£    £   
Mr S D Williams
Balance outstanding at start of year (1,821 ) (4,599 )
Amounts advanced 62,574 69,188
Amounts repaid (60,858 ) (66,410 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (105 ) (1,821 )

Mr M J Murrey
Balance outstanding at start of year (18,540 ) (8,585 )
Amounts advanced 68,427 56,455
Amounts repaid (60,808 ) (66,410 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (10,921 ) (18,540 )