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Registered number: 08384660
G Fletcher Electrical Ltd
Unaudited Financial Statements
For The Year Ended 31 January 2024
3NT Ltd
38 Arden Road
Desborough
Kettering
Northants
NN14 2WJ
Contents
Page
Accountant's Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—6
Page 1
Accountant's Report
Report to the director on the preparation of the unaudited statutory accounts of G Fletcher Electrical Ltd for the year ended 31 January 2024
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of G Fletcher Electrical Ltd for the year ended 31 January 2024 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the accounting records and from information and explanations you have given to us.
As a practising member of the Institute of Financial Accountants (IFA), we are subject to its ethical and other professional requirements which are detailed at https://www.ifa.org.uk/about-us/acting-in-the-public-interest/memberregulations.
This report is made solely to the director of G Fletcher Electrical Ltd , as a body, in accordance with the terms of our engagement letter dated 01 February 2012. Our work has been undertaken solely to prepare for your approval the accounts of G Fletcher Electrical Ltd and state those matters that we have agreed to state to the director of G Fletcher Electrical Ltd , as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than G Fletcher Electrical Ltd and its director, as a body, for our work or for this report.
It is your duty to ensure that G Fletcher Electrical Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of G Fletcher Electrical Ltd . You consider that G Fletcher Electrical Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit of the accounts of G Fletcher Electrical Ltd . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
Laurence Denton
03/09/2024
3NT Ltd
38 Arden Road
Desborough
Kettering
Northants
NN14 2WJ
Page 1
Page 2
Balance Sheet
Registered number: 08384660
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 37,994 50,439
37,994 50,439
CURRENT ASSETS
Debtors 5 81,693 84,424
Cash at bank and in hand 14,159 25,065
95,852 109,489
Creditors: Amounts Falling Due Within One Year 6 (97,994 ) (82,299 )
NET CURRENT ASSETS (LIABILITIES) (2,142 ) 27,190
TOTAL ASSETS LESS CURRENT LIABILITIES 35,852 77,629
Creditors: Amounts Falling Due After More Than One Year 7 (34,762 ) (74,210 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 8 (948 ) (2,912 )
NET ASSETS 142 507
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 42 407
SHAREHOLDERS' FUNDS 142 507
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Page 3
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has 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.
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 G S Fletcher
Director
03/09/2024
The notes on pages 4 to 6 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
G Fletcher Electrical Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08384660 . The registered office is 1 Castle Court, Rushden, Northants, NN10 9HG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. 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 25% Reducing Balance
Motor Vehicles 25% Reducing Balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and 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. Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
2.6. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account. The notes which are not included have been hidden but original note numbering has remained the same for those that are present.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2023: 7)
6 7
4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 February 2023 4,555 79,511 84,066
Additions 350 - 350
Disposals (517 ) - (517 )
As at 31 January 2024 4,388 79,511 83,899
...CONTINUED
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Depreciation
As at 1 February 2023 2,687 30,940 33,627
Provided during the period 522 12,143 12,665
Disposals (387 ) - (387 )
As at 31 January 2024 2,822 43,083 45,905
Net Book Value
As at 31 January 2024 1,566 36,428 37,994
As at 1 February 2023 1,868 48,571 50,439
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2024 2023
£ £
Motor Vehicles 18,466 24,621
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 29,430 39,405
Prepayments and accrued income 1,665 1,418
Director's loan account 50,598 43,601
81,693 84,424
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 4,681 4,681
Trade creditors 19,706 16,185
Bank loans and overdrafts 24,249 24,334
Corporation tax 5,282 2,766
Other taxes and social security 18,649 17,015
VAT 22,889 16,111
Net wages 1,169 -
Other creditors 326 133
Accruals and deferred income 1,043 1,074
97,994 82,299
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 17,554 21,315
Bank loans 17,208 52,895
34,762 74,210
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Page 6
8. Deferred Taxation
The provision for deferred taxation is made up of accelerated capital allowances
2024 2023
£ £
Other timing differences 948 2,912
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 February 2023 Amounts advanced Amounts repaid Amounts written off As at 31 January 2024
£ £ £ £ £
Mr Gary Fletcher 43,600 64,716 57,718 - 50,598
Dividends paid to directors
2024 2023
£ £
Mr G S Fletcher 1,575 5,625
11. Dividends
2024 2023
£ £
On equity shares:
Interim dividend paid 2,100 7,500
12. Controlling Party
The company's controlling party is Mr Gary Fletcher by virtue of his ownership of 75% of the issued share capital in the company.
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