Ian Collins Electrical Limited 04570882 false 2022-11-01 2023-10-31 2023-10-31 The principal activity of the company is electrical contracting. Digita Accounts Production Advanced 6.30.9574.0 true 04570882 2022-11-01 2023-10-31 04570882 2023-10-31 04570882 bus:Director2 1 2023-10-31 04570882 core:CurrentFinancialInstruments 2023-10-31 04570882 core:CurrentFinancialInstruments core:WithinOneYear 2023-10-31 04570882 core:MotorVehicles 2023-10-31 04570882 core:OfficeEquipment 2023-10-31 04570882 core:PlantMachinery 2023-10-31 04570882 bus:SmallEntities 2022-11-01 2023-10-31 04570882 bus:AuditExemptWithAccountantsReport 2022-11-01 2023-10-31 04570882 bus:FullAccounts 2022-11-01 2023-10-31 04570882 bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 04570882 bus:RegisteredOffice 2022-11-01 2023-10-31 04570882 bus:Director2 2022-11-01 2023-10-31 04570882 bus:Director2 1 2022-11-01 2023-10-31 04570882 bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 04570882 core:MotorCars 2022-11-01 2023-10-31 04570882 core:MotorVehicles 2022-11-01 2023-10-31 04570882 core:OfficeEquipment 2022-11-01 2023-10-31 04570882 core:PlantMachinery 2022-11-01 2023-10-31 04570882 countries:EnglandWales 2022-11-01 2023-10-31 04570882 2022-10-31 04570882 bus:Director2 1 2022-10-31 04570882 core:MotorVehicles 2022-10-31 04570882 core:OfficeEquipment 2022-10-31 04570882 core:PlantMachinery 2022-10-31 04570882 2021-11-01 2022-10-31 04570882 2022-10-31 04570882 bus:Director2 1 2022-10-31 04570882 core:CurrentFinancialInstruments 2022-10-31 04570882 core:CurrentFinancialInstruments core:WithinOneYear 2022-10-31 04570882 core:MotorVehicles 2022-10-31 04570882 core:OfficeEquipment 2022-10-31 04570882 core:PlantMachinery 2022-10-31 04570882 bus:Director2 1 2021-11-01 2022-10-31 04570882 bus:Director2 1 2021-10-31 iso4217:GBP xbrli:pure

Registration number: 04570882

Ian Collins Electrical Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2023

 

Ian Collins Electrical Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

Ian Collins Electrical Limited

(Registration number: 04570882)
Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

9,976

142

Current assets

 

Stocks

5

2,000

5,500

Debtors

6

5,650

1,785

Cash at bank and in hand

 

14,432

13,861

 

22,082

21,146

Creditors: Amounts falling due within one year

7

(9,721)

(15,288)

Net current assets

 

12,361

5,858

Net assets

 

22,337

6,000

Capital and reserves

 

Called up share capital

100

100

Retained earnings

22,237

5,900

Shareholders' funds

 

22,337

6,000

 

Ian Collins Electrical Limited

(Registration number: 04570882)
Balance Sheet as at 31 October 2023

For the financial 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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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.

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 Profit and Loss Account.

Approved and authorised by the director on 31 July 2024
 

.........................................
I E Collins
Director

 

Ian Collins Electrical Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
2 Old Bath Road
Newbury
Berkshire
RG14 1QL
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Revenue recognition

Turnover represents amounts chargeable, net of value added tax, in respect of electrical contracting services provided to customers.

Tax

The tax expense for the period comprises current tax payable.

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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

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

25% reducing balance

Motor vehicles

20% straight line

Office equipment

25% reducing balance

 

Ian Collins Electrical Limited

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

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

 

Ian Collins Electrical Limited

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

4

Tangible assets

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 November 2022

9,281

1,166

24,567

35,014

Additions

-

-

10,080

10,080

At 31 October 2023

9,281

1,166

34,647

45,094

Depreciation

At 1 November 2022

9,139

1,166

24,567

34,872

Charge for the year

36

-

210

246

At 31 October 2023

9,175

1,166

24,777

35,118

Carrying amount

At 31 October 2023

106

-

9,870

9,976

At 31 October 2022

142

-

-

142

5

Stocks

2023
£

2022
£

Work in progress

2,000

5,500

 

Ian Collins Electrical Limited

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

6

Debtors

Current

2023
£

2022
£

Trade debtors

5,650

1,785

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

-

3,288

Taxation and social security

1,995

615

Other creditors

7,726

11,385

9,721

15,288

8

Related party transactions

Transactions with the director

2023

At 1 November 2022
£

Advances to director
£

Repayments by director
£

At 31 October 2023
£

I E Collins

Director loan account

(11,385)

9,896

(6,238)

(7,727)

         
       

 

2022

At 1 November 2021
£

Advances to director
£

Repayments by director
£

At 31 October 2022
£

I E Collins

Director loan account

(10,413)

8,626

(9,598)

(11,385)