Registration number:
Ringway Electrical Southern Limited
for the Year Ended 31 January 2024
Ringway Electrical Southern Limited
Contents
Company Information |
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Director's Report |
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Statement of Financial Position |
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Notes to the Unaudited Financial Statements |
Ringway Electrical Southern Limited
Company Information
Director |
DW LeGrice |
Registered office |
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Accountants |
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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:
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
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Ringway Electrical Southern Limited
(Registration number: 04652905)
Statement of Financial Position as at 31 January 2024
Note |
2024 |
2023 |
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Non-current assets |
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Property, plant and equipment |
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Current assets |
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Receivables |
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Cash at bank and in hand |
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Payables: Amounts falling due within one year |
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Net current assets |
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Net assets |
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Equity |
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Called up share capital |
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Retained earnings |
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Shareholders' funds |
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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:
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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
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Director
Ringway Electrical Southern Limited
Notes to the Unaudited Financial Statements
for the Year Ended 31 January 2024
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.
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
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Ringway Electrical Southern Limited
Notes to the Unaudited Financial Statements
for the Year Ended 31 January 2024 (continued)
Property, plant and equipment |
Land and buildings |
Furniture, fittings & equipment |
Motor vehicles |
Plant and machinery |
Total |
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Cost or valuation |
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At 1 February 2023 |
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Disposals |
( |
( |
( |
( |
( |
At 31 January 2024 |
- |
- |
- |
- |
- |
Depreciation |
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At 1 February 2023 |
- |
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Eliminated on disposal |
- |
( |
( |
( |
( |
At 31 January 2024 |
- |
- |
- |
- |
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Carrying amount |
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At 31 January 2024 |
- |
- |
- |
- |
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At 31 January 2023 |
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- |
- |
- |
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Ringway Electrical Southern Limited
Notes to the Unaudited Financial Statements
for the Year Ended 31 January 2024 (continued)
Receivables |
2024 |
2023 |
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Other receivables |
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Corporation tax & VAT refund due |
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- |
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Payables |
2024 |
2023 |
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Due within one year |
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Loans and borrowings |
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Accruals |
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Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
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No. |
£ |
No. |
£ |
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100 |
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100 |