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
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
Wells Electrical Contractors Ltd
Statement of financial position
as at 31 October 2023
Tangible assets
205,056
201,063
Debtors
1,514,416
1,711,833
Cash at bank and in hand
256,798
276,159
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)
Net assets
830,757
735,742
Wells Electrical Contractors Ltd
Statement of financial position
as at 31 October 2023 (continued)
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
Wells Electrical Contractors Ltd
Notes to the Accounts
for the year ended 31 October 2023
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.
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.
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.
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 (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Total
Wells Electrical Contractors Ltd
Notes to the Accounts
for the year ended 31 October 2023
5
Tangible fixed assets
Total
At 1 November 2022
482,382
At 31 October 2023
544,652
At 1 November 2022
281,319
Charge for the year
58,277
At 31 October 2023
339,596
At 31 October 2023
205,056
At 31 October 2022
201,063
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
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).