Company Registration No. 07884921 (England and Wales)
Barrow Electrical Ltd
Unaudited accounts
for the year ended 31 December 2023
Barrow Electrical Ltd
Unaudited accounts
Contents
Barrow Electrical Ltd
Company Information
for the year ended 31 December 2023
Directors
Laurence Barrow
Claire Louise Barrow
Company Number
07884921 (England and Wales)
Registered Office
80 CALIFORNIA CLOSE
GREAT SANKEY
WARRINGTON
CHESHIRE
WA5 8WU
Accountants
SM Norman Accountancy Ltd
33 Havisham Close
Birchwood
Warrington
Cheshire
WA3 7NB
Barrow Electrical Ltd
Statement of financial position
as at 31 December 2023
Tangible assets
89,026
76,529
Cash at bank and in hand
224,605
82,127
Creditors: amounts falling due within one year
(175,459)
(92,397)
Net current assets
296,093
223,108
Total assets less current liabilities
390,119
299,637
Creditors: amounts falling due after more than one year
(15,000)
(25,000)
Provisions for liabilities
Deferred tax
(22,257)
(14,541)
Net assets
352,862
260,096
Called up share capital
2
2
Profit and loss account
352,860
260,094
Shareholders' funds
352,862
260,096
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 members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 1 March 2024 and were signed on its behalf by
Claire Louise Barrow
Director
Company Registration No. 07884921
Barrow Electrical Ltd
Notes to the Accounts
for the year ended 31 December 2023
Barrow Electrical Ltd is a private company, limited by shares, registered in England and Wales, registration number 07884921. The registered office is 80 CALIFORNIA CLOSE, GREAT SANKEY, WARRINGTON, CHESHIRE, WA5 8WU.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% reducing balance basis
Motor vehicles
10% reducing balance basis
Fixtures & fittings
25% reducing balance basis
Computer equipment
25% reducing balance basis
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Barrow Electrical Ltd
Notes to the Accounts
for the year ended 31 December 2023
4
Tangible fixed assets
Total
At 31 December 2023
138,132
Charge for the year
12,685
At 31 December 2023
49,106
At 31 December 2023
89,026
At 31 December 2022
76,529
5
Deferred taxation
2023
2022
Accelerated capital allowances
22,257
14,541
Provision at start of year
14,541
8,002
Charged to the profit and loss account
7,716
6,539
Provision at end of year
22,257
14,541
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2
2
7
Operating lease commitments
2023
2022
At 31 December 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Later than one year and not later than five years
11,537
27,195
8
Average number of employees
During the year the average number of employees was 16 (2022: 14).