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Company Registration No. 12119035 (England and Wales)
HRC ELECTRICAL LTD Unaudited accounts for the year ended 31 July 2024
HRC ELECTRICAL LTD Unaudited accounts Contents
Page
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HRC ELECTRICAL LTD Statement of financial position as at 31 July 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
46,299 
12,273 
Current assets
Inventories
15,000 
- 
Debtors
43,508 
11,453 
Cash at bank and in hand
9,563 
19,378 
68,071 
30,831 
Creditors: amounts falling due within one year
(40,026)
(18,635)
Net current assets
28,045 
12,196 
Total assets less current liabilities
74,344 
24,469 
Creditors: amounts falling due after more than one year
(36,269)
(9,699)
Net assets
38,075 
14,770 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
37,975 
14,670 
Shareholders' funds
38,075 
14,770 
For the year ending 31 July 2024 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 2 August 2024 and were signed on its behalf by
Harry Ross Chidlow Director Company Registration No. 12119035
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HRC ELECTRICAL LTD Notes to the Accounts for the year ended 31 July 2024
1
Statutory information
HRC ELECTRICAL LTD is a private company, limited by shares, registered in England and Wales, registration number 12119035. The registered office is Unit 3C, Orchard Business Park, Hortonwood 40, Telford, TF1 7EY.
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.
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
20% straight line
Motor vehicles
20% Straight line
Computer equipment
20% Straight line
Leased assets
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.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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 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.
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HRC ELECTRICAL LTD Notes to the Accounts for the year ended 31 July 2024
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 August 2023
350 
14,300 
40 
14,690 
Additions
2,095 
37,750 
555 
40,400 
At 31 July 2024
2,445 
52,050 
595 
55,090 
Depreciation
At 1 August 2023
105 
2,292 
20 
2,417 
Charge for the year
312 
6,006 
56 
6,374 
At 31 July 2024
417 
8,298 
76 
8,791 
Net book value
At 31 July 2024
2,028 
43,752 
519 
46,299 
At 31 July 2023
245 
12,008 
20 
12,273 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
10,266 
6,572 
Accrued income and prepayments
34 
460 
Other debtors
33,208 
4,421 
43,508 
11,453 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
578 
175 
Obligations under finance leases and hire purchase contracts
8,798 
2,363 
Trade creditors
5,521 
2,592 
Taxes and social security
9,953 
4,928 
Other creditors
15,108 
8,488 
Loans from directors
8 
- 
Accruals
60 
89 
40,026 
18,635 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Obligations under finance leases and hire purchase contracts
36,269 
9,699 
8
Average number of employees
During the year the average number of employees was 3 (2023: 1).
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