Company Registration No. 10601205 (England and Wales)
S J Thompson Electrical Ltd
Unaudited accounts
for the year ended 31 March 2024
S J Thompson Electrical Ltd
Unaudited accounts
Contents
S J Thompson Electrical Ltd
Company Information
for the year ended 31 March 2024
Directors
Mr S J Thompson
Mrs A E Thompson
Company Number
10601205 (England and Wales)
Registered Office
61 Corby Park
North Ferriby
East Yorkshire
HU14 3AX
United Kingdom
Accountants
Kendall Accountancy Services Limited
2 Exeter Street
New Village Road
Cottingham
East Yorkshire
HU16 4LU
S J Thompson Electrical Ltd
Statement of financial position
as at 31 March 2024
Tangible assets
28,491
52,672
Cash at bank and in hand
5,351
24,160
Creditors: amounts falling due within one year
(79,550)
(66,089)
Net current assets
15,514
7,808
Total assets less current liabilities
44,005
60,480
Creditors: amounts falling due after more than one year
(27,380)
(23,857)
Provisions for liabilities
Deferred tax
(4,484)
(4,484)
Called up share capital
100
100
Profit and loss account
12,041
32,039
Shareholders' funds
12,141
32,139
For the year ending 31 March 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 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 21 August 2024 and were signed on its behalf by
Mr S J Thompson
Director
Company Registration No. 10601205
S J Thompson Electrical Ltd
Notes to the Accounts
for the year ended 31 March 2024
S J Thompson Electrical Ltd is a private company, limited by shares, registered in England and Wales, registration number 10601205. The registered office is 61 Corby Park, North Ferriby, East Yorkshire , HU14 3AX, United Kingdom .
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
25% cost
Computer equipment
25% cost
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.
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.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
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.
S J Thompson Electrical Ltd
Notes to the Accounts
for the year ended 31 March 2024
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.
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.
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Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2023
1,040
58,863
2,041
61,944
Disposals
-
(20,790)
-
(20,790)
At 31 March 2024
1,040
38,073
2,041
41,154
At 1 April 2023
368
8,507
397
9,272
Charge for the year
208
8,417
673
9,298
On disposals
-
(5,907)
-
(5,907)
At 31 March 2024
576
11,017
1,070
12,663
At 31 March 2024
464
27,056
971
28,491
At 31 March 2023
672
50,356
1,644
52,672
Amounts falling due within one year
Trade debtors
83,624
45,011
Accrued income and prepayments
2,639
1,726
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Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
2,778
2,778
Obligations under finance leases and hire purchase contracts
2,975
1,958
Trade creditors
52,097
47,760
Taxes and social security
11,285
6,981
Loans from directors
147
877
S J Thompson Electrical Ltd
Notes to the Accounts
for the year ended 31 March 2024
7
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
12,797
6,496
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
9
Average number of employees
During the year the average number of employees was 4 (2023: 4).