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Registered number: 05496819
D J Electrical Consultants Ltd
Financial Statements
For The Year Ended 31 March 2024
Simply Accounts
1 Queen's Park Road
Handbridge
Chester
Cheshire
CH4 7AD
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05496819
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 47,430 7,855
47,430 7,855
CURRENT ASSETS
Debtors 5 1,263 13,047
1,263 13,047
Creditors: Amounts Falling Due Within One Year 6 (18,057 ) (22,443 )
NET CURRENT ASSETS (LIABILITIES) (16,794 ) (9,396 )
TOTAL ASSETS LESS CURRENT LIABILITIES 30,636 (1,541 )
Creditors: Amounts Falling Due After More Than One Year 7 (36,208 ) (11,490 )
NET LIABILITIES (5,572 ) (13,031 )
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account (5,672 ) (13,131 )
SHAREHOLDERS' FUNDS (5,572) (13,031)
Page 1
Page 2
For the year ending 31 March 2024 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 Philip Penk
Director
13/09/2024
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
D J Electrical Consultants Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 05496819 . The registered office is 2 Chatsworth Drive, Gwersyllt, Wrexham, Clwyd, LL11 4XD.
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 25% Reducing Balance
Motor Vehicles 20% Reducing Balance
Computer Equipment 33% Reducing Balance
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. 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 year 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.
...CONTINUED
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2.5. Taxation - continued
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 asset reflects 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: 3 (2023: 4)
3 4
4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 April 2023 6,920 12,428 291 19,639
Additions - 41,235 - 41,235
As at 31 March 2024 6,920 53,663 291 60,874
Depreciation
As at 1 April 2023 5,623 6,065 96 11,784
Provided during the period 324 1,272 64 1,660
As at 31 March 2024 5,947 7,337 160 13,444
Net Book Value
As at 31 March 2024 973 46,326 131 47,430
As at 1 April 2023 1,297 6,363 195 7,855
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,075 12,541
Prepayments and accrued income 188 506
1,263 13,047
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 4,211 595
Trade creditors 57 342
Bank loans and overdrafts 8,468 10,977
Corporation tax - (671 )
Other taxes and social security 457 1,346
VAT 2,189 4,623
Directors' loan accounts 2,675 5,231
18,057 22,443
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7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 16,844 -
Bank loans 19,364 11,490
36,208 11,490
8. Secured Creditors
Of the creditors the following amounts are secured.
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 21,055 595
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 4,211 595
Later than one year and not later than five years 16,844 -
21,055 595
21,055 595
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
11. Related Party Transactions
At the balance sheet date, £21,925 was owed from the company to the directors.
12. Controlling Party
The company's controlling party is Mr Philip Penk and Mr Richard Penk by virtue of their joint ownership of the issued share capital in the company.
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