Registered number
10422022
Russell Hewes Electricians Limited
Filleted Accounts
31 October 2023
Russell Hewes Electricians Limited
Registered number: 10422022
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 13,687 24,756
Current assets
Stocks 16,500 -
Debtors 4 180,346 66,990
Cash at bank and in hand 107,521 82,721
304,367 149,711
Creditors: amounts falling due within one year 5 (226,633) (185,551)
Net current assets/(liabilities) 77,734 (35,840)
Total assets less current liabilities 91,421 (11,084)
Creditors: amounts falling due after more than one year 6 (79,210) (128,338)
Net assets/(liabilities) 12,211 (139,422)
Capital and reserves
Called up share capital 1 1
Profit and loss account 12,210 (139,423)
Shareholder's funds 12,211 (139,422)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
R Hewes
Director
Approved by the board on 26 February 2024
Russell Hewes Electricians Limited
Notes to the Accounts
for the year ended 31 October 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Motor vehicles over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 6 8
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 November 2022 21,933 47,852 69,785
Additions 1,185 - 1,185
At 31 October 2023 23,118 47,852 70,970
Depreciation
At 1 November 2022 12,419 32,610 45,029
Charge for the year 4,624 7,630 12,254
At 31 October 2023 17,043 40,240 57,283
Net book value
At 31 October 2023 6,075 7,612 13,687
At 31 October 2022 9,514 15,242 24,756
4 Debtors 2023 2022
£ £
Trade debtors 68,775 17,920
Other debtors 111,571 49,070
180,346 66,990
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 10,616 -
Obligations under finance lease and hire purchase contracts 6,405 30,752
Trade creditors 107,102 65,912
Taxation and social security costs 42,925 51,964
Other creditors 59,585 36,923
226,633 185,551
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 15,102 35,833
Obligations under finance lease and hire purchase contracts 17,571 -
Other creditors 46,537 92,505
79,210 128,338
7 Other information
Russell Hewes Electricians Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 6 Blenheim Business Centre
Locks Lane
Mitcham
CR4 2JX
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