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REGISTERED NUMBER: 08154843 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 July 2023

for

North East Electrical Limited

North East Electrical Limited (Registered number: 08154843)






Contents of the Financial Statements
for the year ended 31 July 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


North East Electrical Limited

Company Information
for the year ended 31 July 2023







DIRECTOR: A L Monkhouse





REGISTERED OFFICE: 15 Melrose Avenue
Linthorpe
Middlesbrough
TS5 5JZ





REGISTERED NUMBER: 08154843 (England and Wales)





ACCOUNTANTS: TTR Barnes Limited
Chartered Accountants
3-5 Grange Terrace
Stockton Road
Sunderland
Tyne & Wear
SR2 7DG

North East Electrical Limited (Registered number: 08154843)

Statement of Financial Position
31 July 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,437 15,378

CURRENT ASSETS
Stocks 10,000 15,000
Debtors 5 127,230 112,691
Cash at bank 49,747 15,026
186,977 142,717
CREDITORS
Amounts falling due within one year 6 137,292 78,942
NET CURRENT ASSETS 49,685 63,775
TOTAL ASSETS LESS CURRENT
LIABILITIES

51,122

79,153

CREDITORS
Amounts falling due after more than one
year

7

(20,833

)

(30,833

)

PROVISIONS FOR LIABILITIES 9 (273 ) (2,922 )
NET ASSETS 30,016 45,398

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 29,916 45,298
SHAREHOLDERS' FUNDS 30,016 45,398

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

North East Electrical Limited (Registered number: 08154843)

Statement of Financial Position - continued
31 July 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 July 2024 and were signed by:





A L Monkhouse - Director


North East Electrical Limited (Registered number: 08154843)

Notes to the Financial Statements
for the year ended 31 July 2023

1. STATUTORY INFORMATION

North East Electrical Limited 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.

The financial statements have been prepared on the going concern basis, which assumes that the company will continue in operational existence for the foreseeable future, which the directors consider appropriate.

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.
Plant and machinery - 15% on cost
Motor vehicles - 25% Straight line
Computer equipment - 33% Straight line

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are recognised at transaction value and subsequently measured at their settlement value.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

North East Electrical Limited (Registered number: 08154843)

Notes to the Financial Statements - continued
for the year ended 31 July 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 7 (2022 - 7 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 August 2022 2,863 40,123 7,058 50,044
Disposals - (24,120 ) - (24,120 )
At 31 July 2023 2,863 16,003 7,058 25,924
DEPRECIATION
At 1 August 2022 2,596 27,443 4,627 34,666
Charge for year 267 108 994 1,369
Eliminated on disposal - (11,548 ) - (11,548 )
At 31 July 2023 2,863 16,003 5,621 24,487
NET BOOK VALUE
At 31 July 2023 - - 1,437 1,437
At 31 July 2022 267 12,680 2,431 15,378

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 111,095 106,220
Other debtors - 4,715
VAT 11,764 -
Prepayments 4,371 1,756
127,230 112,691

North East Electrical Limited (Registered number: 08154843)

Notes to the Financial Statements - continued
for the year ended 31 July 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 8) 10,000 10,000
Trade creditors 44,205 15,097
Tax 1,309 3,721
Social security and other taxes 2,178 2,504
Other creditors 40,176 536
Directors' current accounts 27,118 31,691
Accrued expenses 12,306 15,393
137,292 78,942

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans (see note 8) 20,833 30,833

8. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 10,000 10,000

Amounts falling due between one and two years:
Bank loans - 1-2 years 10,000 10,000

Amounts falling due between two and five years:
Bank loans - 2-5 years 10,833 20,833

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 273 2,922

Deferred
tax
£   
Balance at 1 August 2022 2,922
Provided during year (2,649 )
Balance at 31 July 2023 273