Company Registration No. 10192965 (England and Wales)
SFL POWER SOLUTIONS LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
SFL POWER SOLUTIONS LIMITED
COMPANY INFORMATION
Directors
D A Hedger
T G Hedger
Secretary
D A Hedger
Company number
10192965
Registered office
3 Meadow Close
Hertford
Herts
SG13 7EH
SFL POWER SOLUTIONS LIMITED
CONTENTS
Page
Directors' report
1
Profit and loss account
2
Balance sheet
3
Notes to the financial statements
4 - 5
The following pages do not form part of the statutory accounts:
Detailed trading and profit and loss account
6 - 7
SFL POWER SOLUTIONS LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 5 APRIL 2024
- 1 -
The directors present their annual report and financial statements for the year ended 5 April 2024.
Principal activities
The principal activity of the company is that of Electrical Installation
Directors
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
D A Hedger
T G Hedger
Results and dividends
Ordinary dividends were paid amounting to £25,737.
Directors' interests
The directors' interests in the shares of the company were as stated below:
Ordinary shares of £1 each
5 April 2024
5 April 2023
D A Hedger
25
25
T G Hedger
75
75
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
On behalf of the board
T G Hedger
Director
9 September 2024
SFL POWER SOLUTIONS LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 5 APRIL 2024
- 2 -
2024
2023
Notes
£
£
Turnover
140,106
135,970
Cost of sales
(46,088)
(45,051)
Gross profit
94,018
90,919
Administrative expenses
(50,795)
(49,245)
Profit before taxation
43,223
41,674
Taxation
(8,989)
(8,954)
Profit for the financial year
34,234
32,720
SFL POWER SOLUTIONS LIMITED
BALANCE SHEET
AS AT
5 APRIL 2024
05 April 2024
- 3 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
2
12,268
16,357
Current assets
Debtors
3
2,334
3,185
Cash at bank and in hand
37,809
29,317
40,143
32,502
Creditors: amounts falling due within one year
4
(9,383)
(14,328)
Net current assets
30,760
18,174
Total assets less current liabilities
43,028
34,531
Capital and reserves
Called up share capital
5
100
100
Profit and loss reserves
42,928
34,431
Total equity
43,028
34,531
For the financial year ended 5 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
Directors' responsibilities:
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
The financial statements were approved by the board of directors and authorised for issue on 9 September 2024 and are signed on its behalf by:
T G Hedger
Director
Company Registration No. 10192965
SFL POWER SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
- 4 -
1
Accounting policies
Company information
SFL Power Solutions Limited is a private company limited by shares incorporated in England and Wales. The registered office is 3 Meadow Close, Hertford, Herts, SG13 7EH.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
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 £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and machinery
25% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
SFL POWER SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2024
- 5 -
2
Tangible fixed assets
Plant and machinery etc
£
Cost
At 6 April 2023 and 5 April 2024
65,994
Depreciation and impairment
At 6 April 2023
49,637
Depreciation charged in the year
4,089
At 5 April 2024
53,726
Carrying amount
At 05 April 2024
12,268
At 05 April 2023
16,357
3
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
2,334
3,185
4
Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
8,989
8,954
Other taxation and social security
370
537
Other creditors
24
4,837
9,383
14,328
5
Called up share capital
2024
2023
£
£
Ordinary share capital
Authorised
100 Ordinary shares of £1 each
100
100
Issued and fully paid
100 Ordinary shares of £1 each
100
100
SFL POWER SOLUTIONS LIMITED
SCHEDULE OF ADMINISTRATIVE EXPENSES
FOR THE YEAR ENDED 5 APRIL 2024
- 7 -
2024
2023
£
£
Administrative expenses
Training
470
80
Directors' remuneration
18,192
18,120
Office Rent
3,675
3,967
Repairs and renewals
2,881
2,073
Computer and internet services
100
425
Motor expenses
11,436
10,114
Travel and accomodation expenses
5,551
4,592
Subscriptions and fees
243
214
Accountancy
700
700
Bank charges
80
87
Insurances
337
147
Printing and stationery
268
255
Advertising and promotion
415
572
Telephone
1,007
1,117
Sundry expenses
692
1,206
Utilities
659
124
Depreciation
4,089
5,452
50,795
49,245