IRIS Accounts Production v24.2.0.383 04725938 Board of Directors 1.4.23 31.3.24 31.3.24 false true false false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh047259382023-03-31047259382024-03-31047259382023-04-012024-03-31047259382022-03-31047259382022-04-012023-03-31047259382023-03-3104725938ns15:EnglandWales2023-04-012024-03-3104725938ns14:PoundSterling2023-04-012024-03-3104725938ns10:Director12023-04-012024-03-3104725938ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3104725938ns10:SmallEntities2023-04-012024-03-3104725938ns10:AuditExemptWithAccountantsReport2023-04-012024-03-3104725938ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3104725938ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3104725938ns10:AbridgedAccounts2023-04-012024-03-310472593812023-04-012024-03-3104725938ns10:OrdinaryShareClass12023-04-012024-03-3104725938ns10:Director22023-04-012024-03-3104725938ns10:CompanySecretary12023-04-012024-03-3104725938ns10:RegisteredOffice2023-04-012024-03-3104725938ns5:CurrentFinancialInstruments2024-03-3104725938ns5:CurrentFinancialInstruments2023-03-3104725938ns5:Non-currentFinancialInstruments2024-03-3104725938ns5:Non-currentFinancialInstruments2023-03-3104725938ns5:ShareCapital2024-03-3104725938ns5:ShareCapital2023-03-3104725938ns5:RetainedEarningsAccumulatedLosses2024-03-3104725938ns5:RetainedEarningsAccumulatedLosses2023-03-3104725938ns5:NetGoodwill2023-04-012024-03-3104725938ns5:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-3104725938ns5:PlantMachinery2023-04-012024-03-3104725938ns5:FurnitureFittings2023-04-012024-03-3104725938ns5:MotorVehicles2023-04-012024-03-3104725938ns10:OrdinaryShareClass12024-03-31
REGISTERED NUMBER: 04725938 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

SOUTH ELECTRICAL LIMITED

SOUTH ELECTRICAL LIMITED (REGISTERED NUMBER: 04725938)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4

Chartered Certified Accountants' Report 8

SOUTH ELECTRICAL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: R South
O South





SECRETARY: L J Williamson





REGISTERED OFFICE: Brunel Close
Brunel Industrial Estate
Harworth
Doncaster
South Yorkshire
DN11 8QA





REGISTERED NUMBER: 04725938 (England and Wales)





ACCOUNTANTS: Andrew Thomas Accountancy Limited
Chartered Certified Accountants
82 Oswald Road
Scunthorpe
North Lincolnshire
DN15 7PA

SOUTH ELECTRICAL LIMITED (REGISTERED NUMBER: 04725938)

ABRIDGED STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 3 - -
Tangible assets 4 412,669 373,695
412,669 373,695

CURRENT ASSETS
Stocks 160,873 177,319
Debtors 1,521,578 1,595,647
Prepayments and accrued income 25,545 21,964
Cash at bank 68,084 75,803
1,776,080 1,870,733
CREDITORS
Amounts falling due within one year 596,149 720,997
NET CURRENT ASSETS 1,179,931 1,149,736
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,592,600

1,523,431

CREDITORS
Amounts falling due after more than one
year

(14,814

)

(24,963

)

PROVISIONS FOR LIABILITIES (80,800 ) (56,425 )

ACCRUALS AND DEFERRED INCOME (78,142 ) (94,337 )
NET ASSETS 1,418,844 1,347,706

CAPITAL AND RESERVES
Called up share capital 5 100 100
Retained earnings 1,418,744 1,347,606
SHAREHOLDERS' FUNDS 1,418,844 1,347,706

SOUTH ELECTRICAL LIMITED (REGISTERED NUMBER: 04725938)

ABRIDGED STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 2024


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 12 August 2024 and were signed on its behalf by:





R South - Director


SOUTH ELECTRICAL LIMITED (REGISTERED NUMBER: 04725938)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 33% on cost
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


SOUTH ELECTRICAL LIMITED (REGISTERED NUMBER: 04725938)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

1. 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 86 (2023 - 90 ) .

3. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023
and 31 March 2024 60,000
AMORTISATION
At 1 April 2023
and 31 March 2024 60,000
NET BOOK VALUE

At 31 March 2024 -
At 31 March 2023 -

SOUTH ELECTRICAL LIMITED (REGISTERED NUMBER: 04725938)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023 743,491
Additions 171,277
Disposals (45,627 )
At 31 March 2024 869,141
DEPRECIATION
At 1 April 2023 369,796
Charge for year 107,845
Eliminated on disposal (21,169 )
At 31 March 2024 456,472
NET BOOK VALUE
At 31 March 2024 412,669
At 31 March 2023 373,695

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 April 2023 134,498
Transfer to ownership (134,498 )
At 31 March 2024 -
DEPRECIATION
At 1 April 2023 63,495
Charge for year 17,750
Transfer to ownership (81,245 )
At 31 March 2024 -
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 71,003

SOUTH ELECTRICAL LIMITED (REGISTERED NUMBER: 04725938)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

6. OTHER FINANCIAL COMMITMENTS

National Westminster Bank PLC holds fixed and floating charges over the company assets.

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
SOUTH ELECTRICAL LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of South Electrical Limited for the year ended 31 March 2024 which comprise the Income Statement, Abridged Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of South Electrical Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of South Electrical Limited and state those matters that we have agreed to state to the Board of Directors of South Electrical Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that South Electrical Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of South Electrical Limited. You consider that South Electrical Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of South Electrical Limited. 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 statutory financial statements.






Andrew Thomas Accountancy Limited
Chartered Certified Accountants
82 Oswald Road
Scunthorpe
North Lincolnshire
DN15 7PA


12 August 2024