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Company Registration No. 09901507 (England and Wales)
HCG Electricals Ltd Unaudited accounts for the year ended 31 December 2023
HCG Electricals Ltd Unaudited accounts Contents
Page
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HCG Electricals Ltd Company Information for the year ended 31 December 2023
Director
Mr H C Gabbidon
Company Number
09901507 (England and Wales)
Registered Office
214 Baker Street Enfield London EN1 3JT England
Accountants
DNG Associates 214 Baker Street Enfield London EN1 3JT
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HCG Electricals Ltd Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
10,065 
10,742 
Current assets
Cash at bank and in hand
59,953 
36,788 
Creditors: amounts falling due within one year
(21,827)
(3,470)
Net current assets
38,126 
33,318 
Total assets less current liabilities
48,191 
44,060 
Creditors: amounts falling due after more than one year
(4,553)
(4,353)
Net assets
43,638 
39,707 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
43,637 
39,706 
Shareholders' funds
43,638 
39,707 
For the year ending 31 December 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.
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 16 August 2024 and were signed on its behalf by
Mr H C Gabbidon Director Company Registration No. 09901507
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HCG Electricals Ltd Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
HCG Electricals Ltd is a private company, limited by shares, registered in England and Wales, registration number 09901507. The registered office is 214 Baker Street, Enfield, London, EN1 3JT, 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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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 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.
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
18% - reducing line method
Motor vehicles
6% - reducing line method
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 January 2023
590 
11,856 
12,446 
At 31 December 2023
590 
11,856 
12,446 
Depreciation
At 1 January 2023
324 
1,380 
1,704 
Charge for the year
48 
629 
677 
At 31 December 2023
372 
2,009 
2,381 
Net book value
At 31 December 2023
218 
9,847 
10,065 
At 31 December 2022
266 
10,476 
10,742 
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HCG Electricals Ltd Notes to the Accounts for the year ended 31 December 2023
5
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
1,800 
1,800 
Taxes and social security
1,520 
992 
Loans from directors
18,507 
678 
21,827 
3,470 
6
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
2,553 
4,353 
Deferred income
2,000 
- 
4,553 
4,353 
7
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1 
1 
8
Transactions with related parties
Included within other creditors is an amount of £18,507 (2022;£678) due to its directors. There are no terms as to interest or repayment in respect of this balance.
9
Average number of employees
During the year the average number of employees was 3 (2022: 3).
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