Acorah Software Products - Accounts Production 15.0.600 false true 30 November 2022 1 December 2021 false 1 December 2022 30 November 2023 30 November 2023 07109967 Mr DANIEL GORDON Mr AUGUSTINE MICHEL iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07109967 2022-11-30 07109967 2023-11-30 07109967 2022-12-01 2023-11-30 07109967 frs-core:CurrentFinancialInstruments 2023-11-30 07109967 frs-core:Non-currentFinancialInstruments 2023-11-30 07109967 frs-core:BetweenOneFiveYears 2023-11-30 07109967 frs-core:ComputerEquipment 2023-11-30 07109967 frs-core:ComputerEquipment 2022-12-01 2023-11-30 07109967 frs-core:ComputerEquipment 2022-11-30 07109967 frs-core:FurnitureFittings 2022-12-01 2023-11-30 07109967 frs-core:MotorVehicles 2023-11-30 07109967 frs-core:MotorVehicles 2022-12-01 2023-11-30 07109967 frs-core:MotorVehicles 2022-11-30 07109967 frs-core:PlantMachinery 2023-11-30 07109967 frs-core:PlantMachinery 2022-12-01 2023-11-30 07109967 frs-core:PlantMachinery 2022-11-30 07109967 frs-core:ShareCapital 2023-11-30 07109967 frs-core:RetainedEarningsAccumulatedLosses 2023-11-30 07109967 frs-bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 07109967 frs-bus:FilletedAccounts 2022-12-01 2023-11-30 07109967 frs-bus:SmallEntities 2022-12-01 2023-11-30 07109967 frs-bus:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 07109967 frs-bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 07109967 frs-bus:Director1 2022-12-01 2023-11-30 07109967 frs-bus:Director2 2022-12-01 2023-11-30 07109967 frs-countries:EnglandWales 2022-12-01 2023-11-30 07109967 2021-11-30 07109967 2022-11-30 07109967 2021-12-01 2022-11-30 07109967 frs-core:CurrentFinancialInstruments 2022-11-30 07109967 frs-core:Non-currentFinancialInstruments 2022-11-30 07109967 frs-core:BetweenOneFiveYears 2022-11-30 07109967 frs-core:ShareCapital 2022-11-30 07109967 frs-core:RetainedEarningsAccumulatedLosses 2022-11-30
Registered number: 07109967
Three Ways Electrical Solutions Ltd
Unaudited Financial Statements
For The Year Ended 30 November 2023
Jeffers Accounting
Management Accountants
Suite 201 Churchill House
120 Bunns Lane
Mill Hill
London
NW7 2AS
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07109967
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 31 6,177
31 6,177
CURRENT ASSETS
Stocks 5 2,426 2,791
Debtors 6 23,190 54,555
Cash at bank and in hand 19,148 34,930
44,764 92,276
Creditors: Amounts Falling Due Within One Year 7 (23,684 ) (47,340 )
NET CURRENT ASSETS (LIABILITIES) 21,080 44,936
TOTAL ASSETS LESS CURRENT LIABILITIES 21,111 51,113
Creditors: Amounts Falling Due After More Than One Year 8 (14,297 ) (17,343 )
NET ASSETS 6,814 33,770
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 6,714 33,670
SHAREHOLDERS' FUNDS 6,814 33,770
Page 1
Page 2
For the year ending 30 November 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 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr DANIEL GORDON
Director
28/08/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Three Ways Electrical Solutions Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07109967 . The registered office is 8 Secker Crescent, Harrow, Middlesex, England, HA3 5LZ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20%
Motor Vehicles 25%
Fixtures & Fittings 20%
Computer Equipment 33%
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
Page 3
Page 4
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2022: 4)
4 4
4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 December 2022 118 40,902 3,318 44,338
Additions - - 25 25
As at 30 November 2023 118 40,902 3,343 44,363
Depreciation
As at 1 December 2022 90 34,760 3,311 38,161
Provided during the period 23 6,140 8 6,171
As at 30 November 2023 113 40,900 3,319 44,332
Net Book Value
As at 30 November 2023 5 2 24 31
As at 1 December 2022 28 6,142 7 6,177
5. Stocks
2023 2022
£ £
Materials 2,426 2,791
Page 4
Page 5
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 14,246 31,206
Other debtors 5,101 16,930
VAT 1,359 6,419
Other taxes and social security 2,484 -
23,190 54,555
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 1,769 1,831
Bank loans and overdrafts - 1,753
Corporation tax - 10,209
Other taxes and social security - 9,671
Net wages 3 -
Other creditors (2,044 ) -
Accruals and deferred income 4,300 4,300
Directors' loan accounts 19,656 19,576
23,684 47,340
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 14,297 17,343
9. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Later than one year and not later than five years 14,297 17,343
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
Page 5