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REGISTERED NUMBER: 04500694 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 October 2023

for

H & M Electrics Limited

H & M Electrics Limited (Registered number: 04500694)

Contents of the Financial Statements
for the Year Ended 31 October 2023










Page

Company information 1

Chartered accountants' report 2

Statement of financial position 3 to 4

Notes to the financial statements 5 to 8


H & M Electrics Limited

Company Information
for the Year Ended 31 October 2023







Director: G N Hales





Registered office: Bank House
Broad Street
Spalding
Lincolnshire
PE11 1TB





Business address: Beech Croft
Washway Road
Saracens Head
Holbeach
Lincolnshire
PE12 8AL





Registered number: 04500694 (England and Wales)





Accountants: Moore Thompson
Bank House
Broad Street
Spalding
Lincolnshire
PE11 1TB

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
H & M Electrics Limited


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of financial position. Readers are cautioned that the Income statement and certain other primary statements and the Report of the director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of H & M Electrics Limited for the year ended 31 October 2023 which comprise the Statement of income and retained earnings, Statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of H & M Electrics Limited in accordance with the terms of our engagement letter dated 26 July 2018. Our work has been undertaken solely to prepare for your approval the financial statements of H & M Electrics Limited and state those matters that we have agreed to state to the director of H & M Electrics Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than H & M Electrics Limited and its director for our work or for this report.

It is your duty to ensure that H & M Electrics Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of H & M Electrics Limited. You consider that H & M Electrics Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of H & M Electrics Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Moore Thompson
Bank House
Broad Street
Spalding
Lincolnshire
PE11 1TB


29 July 2024

H & M Electrics Limited (Registered number: 04500694)

Statement of Financial Position
31 October 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Tangible assets 5 2,169 2,812

Current assets
Stocks 5,100 5,095
Debtors 6 24,404 18,796
Cash at bank 3,757 5,784
33,261 29,675
Creditors
Amounts falling due within one year 7 34,305 30,759
Net current liabilities (1,044 ) (1,084 )
Total assets less current liabilities 1,125 1,728

Provisions for liabilities 412 534
Net assets 713 1,194

Capital and reserves
Called up share capital 8 100 100
Retained earnings 613 1,094
Shareholders' funds 713 1,194

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

H & M Electrics Limited (Registered number: 04500694)

Statement of Financial Position - continued
31 October 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 29 July 2024 and were signed by:





G N Hales - Director


H & M Electrics Limited (Registered number: 04500694)

Notes to the Financial Statements
for the Year Ended 31 October 2023


1. Statutory information

H & M Electrics 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. Statement of compliance

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.

3. Accounting policies

Basis of preparing the financial statements
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
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Sundry tools- 12.5% reducing balance
Fixtures and office equipment- 3 years straight line
Motor vehicles - 25% reducing balance

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 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.


H & M Electrics Limited (Registered number: 04500694)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023


3. Accounting policies - continued
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.

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.

Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

4. Employees and directors

The average number of employees during the year was 1 (2022 - 1 ) .

H & M Electrics Limited (Registered number: 04500694)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023


5. Tangible fixed assets
Fixtures
and
Sundry office Motor
Tools equipment vehicles Totals
£    £    £    £   
Cost
At 1 November 2022
and 31 October 2023 4,087 6,463 9,274 19,824
Depreciation
At 1 November 2022 2,676 6,300 8,036 17,012
Charge for year 176 158 309 643
At 31 October 2023 2,852 6,458 8,345 17,655
Net book value
At 31 October 2023 1,235 5 929 2,169
At 31 October 2022 1,411 163 1,238 2,812

6. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 22,100 15,652
Directors' current accounts 2,231 3,075
Prepayments and accrued income 73 69
24,404 18,796

7. Creditors: amounts falling due within one year
2023 2022
£    £   
Trade creditors 14,068 11,564
Other creditors 7,939 7,457
Corporation tax 4,138 3,776
Social security and other taxes 1,041 968
VAT 4,381 3,989
Accruals and deferred income 2,738 3,005
34,305 30,759

8. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary shares £1 100 100

H & M Electrics Limited (Registered number: 04500694)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023


9. Director's advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 31 October 2023 and 31 October 2022:

2023 2022
£    £   
G N Hales
Balance outstanding at start of year 3,075 1,022
Amounts advanced 28,452 30,152
Amounts repaid (29,296 ) (28,099 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 2,231 3,075