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Company Registration No. 05849171 (England and Wales)
Wells Electrical Contractors Ltd Unaudited accounts for the year ended 31 October 2023
Wells Electrical Contractors Ltd Unaudited accounts Contents
Page
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Wells Electrical Contractors Ltd Company Information for the year ended 31 October 2023
Director
Nicholas Andrew Wells
Company Number
05849171 (England and Wales)
Registered Office
28A MANCHESTER ROAD WESTHOUGHTON BOLTON BL5 3QJ ENGLAND
Accountants
Xeinadin Group Regent House Folds Road Bolton BL1 2RZ
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Wells Electrical Contractors Ltd Statement of financial position as at 31 October 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
205,056 
201,063 
Investments
12,500 
12,500 
217,556 
213,563 
Current assets
Inventories
52,006 
43,994 
Debtors
1,514,416 
1,711,833 
Cash at bank and in hand
256,798 
276,159 
1,823,220 
2,031,986 
Creditors: amounts falling due within one year
(488,519)
(732,773)
Net current assets
1,334,701 
1,299,213 
Total assets less current liabilities
1,552,257 
1,512,776 
Creditors: amounts falling due after more than one year
(226,539)
(283,220)
Provisions for liabilities
Deferred tax
(38,961)
(37,814)
Other provisions
(456,000)
(456,000)
(494,961)
(493,814)
Net assets
830,757 
735,742 
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Wells Electrical Contractors Ltd Statement of financial position as at 31 October 2023 (continued)
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
830,657 
735,642 
Shareholders' funds
830,757 
735,742 
For the year ending 31 October 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 director acknowledges his 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 and authorised for issue on 30 April 2024 and were signed on its behalf by
Nicholas Andrew Wells Director Company Registration No. 05849171
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Wells Electrical Contractors Ltd Notes to the Accounts for the year ended 31 October 2023
1
Statutory information
Wells Electrical Contractors Ltd is a private company, limited by shares, registered in England and Wales, registration number 05849171. The registered office is 28A MANCHESTER ROAD, WESTHOUGHTON, BOLTON, BL5 3QJ, ENGLAND.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Presentation currency
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
15% Reducing balance
Motor vehicles
25% Reducing balance
Fixtures & fittings
20% Reducing balance
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Total 
£ 
Cost
At 1 November 2022
10,000 
At 31 October 2023
10,000 
Amortisation
At 1 November 2022
10,000 
At 31 October 2023
10,000 
Net book value
At 31 October 2023
- 
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Wells Electrical Contractors Ltd Notes to the Accounts for the year ended 31 October 2023
5
Tangible fixed assets
Total 
£ 
Cost or valuation
At 1 November 2022
482,382 
Additions
62,270 
At 31 October 2023
544,652 
Depreciation
At 1 November 2022
281,319 
Charge for the year
58,277 
At 31 October 2023
339,596 
Net book value
At 31 October 2023
205,056 
At 31 October 2022
201,063 
6
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
90 Ordinary Class A shares of £1 each
90 
90 
10 Ordinary Class B shares of £1 each
10 
10 
100 
100 
7
Transactions with related parties
Dividends of £388.89 (2022 - £1,111.11) per Ordinary Class A share Dividends of £3,500 (2022 - £10,000) per Ordinary Class B share
8
Average number of employees
During the year the average number of employees was 8 (2022: 9).
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