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REGISTERED NUMBER: 08385565 (England and Wales)















Unaudited Financial Statements

for the Year Ended 29 February 2024

for

D Squared Electrical Services Ltd

D Squared Electrical Services Ltd (Registered number: 08385565)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


D Squared Electrical Services Ltd

Company Information
for the Year Ended 29 February 2024







DIRECTORS: D I Houghton
D Shipp





REGISTERED OFFICE: Unit 17
Portsmouth Enterprise Centre
Portsmouth
Hampshire
PO3 5QT





REGISTERED NUMBER: 08385565 (England and Wales)





ACCOUNTANTS: Hughes Spencer
12 Acorn Business Park
Northarbour Road
Portsmouth
Hampshire
PO6 3TH

D Squared Electrical Services Ltd (Registered number: 08385565)

Balance Sheet
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 135,306 104,054

CURRENT ASSETS
Stocks 51,500 80,000
Debtors 5 359,120 310,099
Cash at bank 175,397 -
586,017 390,099
CREDITORS
Amounts falling due within one year 6 450,535 318,184
NET CURRENT ASSETS 135,482 71,915
TOTAL ASSETS LESS CURRENT
LIABILITIES

270,788

175,969

CREDITORS
Amounts falling due after more than one
year

7

(68,359

)

(56,719

)

PROVISIONS FOR LIABILITIES (33,827 ) (19,770 )
NET ASSETS 168,602 99,480

CAPITAL AND RESERVES
Called up share capital 104 102
Share premium 3,998 -
Retained earnings 164,500 99,378
SHAREHOLDERS' FUNDS 168,602 99,480

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 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.

D Squared Electrical Services Ltd (Registered number: 08385565)

Balance Sheet - continued
29 February 2024


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 11 April 2024 and were signed on its behalf by:




D I Houghton - Director



D Shipp - Director


D Squared Electrical Services Ltd (Registered number: 08385565)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

D Squared Electrical Services Ltd 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 etc - 25% on reducing balance and 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

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.

D Squared Electrical Services Ltd (Registered number: 08385565)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued

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 19 (2023 - 17 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2023 143,506
Additions 69,199
At 29 February 2024 212,705
DEPRECIATION
At 1 March 2023 39,452
Charge for year 37,947
At 29 February 2024 77,399
NET BOOK VALUE
At 29 February 2024 135,306
At 28 February 2023 104,054

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 March 2023 127,025
Additions 63,783
At 29 February 2024 190,808
DEPRECIATION
At 1 March 2023 26,696
Charge for year 35,713
At 29 February 2024 62,409
NET BOOK VALUE
At 29 February 2024 128,399
At 28 February 2023 100,329

D Squared Electrical Services Ltd (Registered number: 08385565)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 262,229 222,196
Amounts recoverable on contract 20,800 33,628
Other debtors 76,091 54,275
359,120 310,099

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 17,812
Hire purchase contracts 47,149 39,979
Trade creditors 223,380 156,295
Taxation and social security 95,834 68,856
Other creditors 84,172 35,242
450,535 318,184

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 68,359 56,719