Company Registration No. 03119771 (England and Wales)
Able Electrical Inspection Limited
Unaudited accounts
for the year ended 30 November 2023
Able Electrical Inspection Limited
Unaudited accounts
Contents
Able Electrical Inspection Limited
Company Information
for the year ended 30 November 2023
Directors
D Connors
G Connors
Secretary
Karen Mary Connors
Company Number
03119771 (England and Wales)
Registered Office
12 MARK ROAD
HEMEL HEMPSTEAD INDUSTRIAL ESTATE
HEMEL HEMPSTEAD
HP2 7BN
ENGLAND
Able Electrical Inspection Limited
Statement of financial position
as at 30 November 2023
Tangible assets
22,976
1,013
Debtors
1,701,384
1,068,498
Cash at bank and in hand
13,139
101,183
Creditors: amounts falling due within one year
(1,436,099)
(861,225)
Net current assets
278,424
308,456
Total assets less current liabilities
301,400
309,469
Creditors: amounts falling due after more than one year
(17,501)
(27,500)
Provisions for liabilities
Net assets
282,235
281,730
Called up share capital
102
100
Profit and loss account
282,133
281,630
Shareholders' funds
282,235
281,730
For the year ending 30 November 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
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 of Directors and authorised for issue on 29 July 2024 and were signed on its behalf by
D Connors
Director
Company Registration No. 03119771
Able Electrical Inspection Limited
Notes to the Accounts
for the year ended 30 November 2023
Able Electrical Inspection Limited is a private company, limited by shares, registered in England and Wales, registration number 03119771. The registered office is 12 MARK ROAD, HEMEL HEMPSTEAD INDUSTRIAL ESTATE, HEMEL HEMPSTEAD, HP2 7BN, ENGLAND.
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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.
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
33% Straight Line
Motor vehicles
33% Straight Line
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.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Able Electrical Inspection Limited
Notes to the Accounts
for the year ended 30 November 2023
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 December 2022
7,663
69,735
77,398
Additions
133
33,415
33,548
Disposals
-
(24,295)
(24,295)
At 30 November 2023
7,796
78,855
86,651
At 1 December 2022
6,650
69,735
76,385
Charge for the year
558
11,027
11,585
On disposals
-
(24,295)
(24,295)
At 30 November 2023
7,208
56,467
63,675
At 30 November 2023
588
22,388
22,976
At 30 November 2022
1,013
-
1,013
Amounts falling due within one year
Trade debtors
1,100,740
536,375
Accrued income and prepayments
396,605
400,960
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Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
9,999
10,000
Trade creditors
1,332,304
720,825
Taxes and social security
88,299
87,623
Other creditors
5,497
4,109
Loans from directors
-
38,668
7
Creditors: amounts falling due after more than one year
2023
2022
Able Electrical Inspection Limited
Notes to the Accounts
for the year ended 30 November 2023
8
Operating lease commitments
2023
2022
At 30 November 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
13,000
13,000
Later than one year and not later than five years
52,000
52,000
Later than five years
-
13,000
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Average number of employees
During the year the average number of employees was 11 (2022: 10).