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REGISTERED NUMBER: 10631868 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2024

FOR

S.R.ELECTRICAL LTD.

S.R.ELECTRICAL LTD. (REGISTERED NUMBER: 10631868)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


S.R.ELECTRICAL LTD.

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2024







DIRECTORS: Mr S R Ryan
Mrs J A Ryan





SECRETARY: Mrs J A Ryan





REGISTERED OFFICE: 100 Commercial Road
Skelmanthorpe
Huddersfield
West Yorkshire
HD8 9DS





REGISTERED NUMBER: 10631868 (England and Wales)





ACCOUNTANTS: Highdale Accounting Ltd
Highdale Cottage
217 Barnsley Road
Denby Dale
Huddersfield
West Yorkshire
HD8 8TS

S.R.ELECTRICAL LTD. (REGISTERED NUMBER: 10631868)

STATEMENT OF FINANCIAL POSITION
28 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 25,021 8,006

CURRENT ASSETS
Debtors 5 6,046 13,113

CREDITORS
Amounts falling due within one year 6 27,973 28,613
NET CURRENT LIABILITIES (21,927 ) (15,500 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,094

(7,494

)

CREDITORS
Amounts falling due after more than one
year

7

(21,660

)

(9,310

)

PROVISIONS FOR LIABILITIES (4,754 ) (1,521 )
NET LIABILITIES (23,320 ) (18,325 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (23,420 ) (18,425 )
(23,320 ) (18,325 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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.

S.R.ELECTRICAL LTD. (REGISTERED NUMBER: 10631868)

STATEMENT OF FINANCIAL POSITION - continued
28 FEBRUARY 2024


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 4 September 2024 and were signed on its behalf by:





Mr S R Ryan - Director


S.R.ELECTRICAL LTD. (REGISTERED NUMBER: 10631868)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024


1. STATUTORY INFORMATION

S.R.Electrical Ltd. 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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 20% on reducing balance
Computer equipment - 33% on cost

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.

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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Government grants
The accrual model has been adopted for grants received and are classified as revenue-based grant income.

S.R.ELECTRICAL LTD. (REGISTERED NUMBER: 10631868)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2024


2. ACCOUNTING POLICIES - continued

Going concern
These financial statements are prepared on the going concern basis. The director has a reasonable expectation that the company will continue in operational existence for the foreseeable future. The company's major liability relates to the directors' loan account. The director has given an undertaking to support the company until it returns to a net assets position.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 March 2023 16,453 1,403 17,856
Additions 25,840 - 25,840
Disposals (16,453 ) - (16,453 )
At 28 February 2024 25,840 1,403 27,243
DEPRECIATION
At 1 March 2023 8,661 1,189 9,850
Charge for year 861 172 1,033
Eliminated on disposal (8,661 ) - (8,661 )
At 28 February 2024 861 1,361 2,222
NET BOOK VALUE
At 28 February 2024 24,979 42 25,021
At 28 February 2023 7,792 214 8,006

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 5,051 10,996
Other debtors 995 2,117
6,046 13,113

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 8) 6,550 6,448
Hire purchase contracts 4,524 2,358
Trade creditors 4,679 12,210
Taxation and social security (831 ) (530 )
Other creditors 13,051 8,127
27,973 28,613

S.R.ELECTRICAL LTD. (REGISTERED NUMBER: 10631868)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2024


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 8) 5,859 9,310
Hire purchase contracts 15,801 -
21,660 9,310

8. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 2,792 2,475
Bank loans 3,758 3,973
6,550 6,448

Amounts falling due between one and two years:
Bank loans - 1-2 years 5,859 8,249

Amounts falling due between two and five years:
Bank loans - 2-5 years - 1,061

9. FINANCIAL INSTRUMENTS

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following interest free advances and credits to directors subsisted during the years ended 28 February 2024 and 28 February 2023:

2024 2023
£    £   
Mr S R Ryan and Mrs J A Ryan
Balance outstanding at start of year (7,602 ) 9,061
Amounts advanced 24,164 28,680
Amounts repaid (29,088 ) (45,343 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (12,526 ) (7,602 )

11. RELATED PARTY DISCLOSURES

At the year end the the company owed the director £12,526 (2022: £7,602) was owed from the director to the company.