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REGISTERED NUMBER: 10555036 (England and Wales)







Unaudited Financial Statements

for the Year Ended 31 January 2024

for

SB Electrical (South West) Limited

SB Electrical (South West) Limited (Registered number: 10555036)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


SB Electrical (South West) Limited

Company Information
for the Year Ended 31 January 2024







DIRECTORS: S J Baker
Mrs J Baker





REGISTERED OFFICE: Suite 1
Liberty House
South Liberty Lane
Bristol
BS3 2ST





REGISTERED NUMBER: 10555036 (England and Wales)





ACCOUNTANTS: Stanley Joseph Limited
Chartered Accountants
Suite 1
Liberty House
South Liberty Lane
Bristol
BS3 2ST

SB Electrical (South West) Limited (Registered number: 10555036)

Statement of Financial Position
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Property, plant and equipment 5 12,502 5,329
12,502 5,329

CURRENT ASSETS
Debtors 6 17,340 14,032
Cash at bank 12,753 14,222
30,093 28,254
CREDITORS
Amounts falling due within one year 7 25,631 21,017
NET CURRENT ASSETS 4,462 7,237
TOTAL ASSETS LESS CURRENT
LIABILITIES

16,964

12,566

CREDITORS
Amounts falling due after more than one
year

8

(13,227

)

(10,636

)

PROVISIONS FOR LIABILITIES (2,375 ) (1,013 )
NET ASSETS 1,362 917

SB Electrical (South West) Limited (Registered number: 10555036)

Statement of Financial Position - continued
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,262 817
1,362 917

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 August 2024 and were signed on its behalf by:





S J Baker - Director


SB Electrical (South West) Limited (Registered number: 10555036)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

SB Electrical (South West) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents the amounts receivable, excluding VAT and trade discounts, by the company for goods and services provided during the year. All transactions arose in the United Kingdom.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.


SB Electrical (South West) Limited (Registered number: 10555036)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2023
and 31 January 2024 21,000
AMORTISATION
At 1 February 2023
and 31 January 2024 21,000
NET BOOK VALUE
At 31 January 2024 -
At 31 January 2023 -

SB Electrical (South West) Limited (Registered number: 10555036)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

5. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 February 2023 20,223
Additions 11,339
At 31 January 2024 31,562
DEPRECIATION
At 1 February 2023 14,894
Charge for year 4,166
At 31 January 2024 19,060
NET BOOK VALUE
At 31 January 2024 12,502
At 31 January 2023 5,329

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 12,167 5,923
Other debtors 5,173 8,109
17,340 14,032

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 6,767 4,727
Hire purchase contracts - 929
Trade creditors 8,444 3,325
Taxation and social security 9,313 10,859
Other creditors 1,107 1,177
25,631 21,017

SB Electrical (South West) Limited (Registered number: 10555036)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Bank loans 13,227 10,636

9. RELATED PARTY DISCLOSURES

Mr S & Mrs J Baker
Directors
2024 2023

Dividends 2,000 12,500

Capital introduced 2,429 -

Capital withdrawn 5,287

At the balance sheet date the amount owed by the director was £5,173 (2023 - £7,602).