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
HRC ELECTRICAL LTD
Statement of financial position
as at 31 July 2024
Tangible assets
46,299
12,273
Cash at bank and in hand
9,563
19,378
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)
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
HRC ELECTRICAL LTD
Notes to the Accounts
for the year ended 31 July 2024
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.
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
20% straight line
Motor vehicles
20% Straight line
Computer equipment
20% Straight line
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 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 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.
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
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
At 31 July 2024
2,028
43,752
519
46,299
At 31 July 2023
245
12,008
20
12,273
Amounts falling due within one year
Trade debtors
10,266
6,572
Accrued income and prepayments
34
460
Other debtors
33,208
4,421
6
Creditors: amounts falling due within one year
2024
2023
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
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Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
36,269
9,699
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Average number of employees
During the year the average number of employees was 3 (2023: 1).