Silverfin false false 31/12/2023 01/01/2023 31/12/2023 Mr A M Stevens 11/12/2007 17 September 2024 The principal activity of the Company during the financial year was the installation of electrical wiring. 06450427 2023-12-31 06450427 bus:Director1 2023-12-31 06450427 2022-12-31 06450427 core:CurrentFinancialInstruments 2023-12-31 06450427 core:CurrentFinancialInstruments 2022-12-31 06450427 core:Non-currentFinancialInstruments 2023-12-31 06450427 core:Non-currentFinancialInstruments 2022-12-31 06450427 core:ShareCapital 2023-12-31 06450427 core:ShareCapital 2022-12-31 06450427 core:RetainedEarningsAccumulatedLosses 2023-12-31 06450427 core:RetainedEarningsAccumulatedLosses 2022-12-31 06450427 core:PlantMachinery 2022-12-31 06450427 core:Vehicles 2022-12-31 06450427 core:PlantMachinery 2023-12-31 06450427 core:Vehicles 2023-12-31 06450427 2023-01-01 2023-12-31 06450427 bus:FilletedAccounts 2023-01-01 2023-12-31 06450427 bus:SmallEntities 2023-01-01 2023-12-31 06450427 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 06450427 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 06450427 bus:Director1 2023-01-01 2023-12-31 06450427 core:PlantMachinery 2023-01-01 2023-12-31 06450427 core:Vehicles 2023-01-01 2023-12-31 06450427 2022-01-01 2022-12-31 06450427 core:Non-currentFinancialInstruments 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Company No: 06450427 (England and Wales)

ANDY STEVENS ELECTRICAL LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

ANDY STEVENS ELECTRICAL LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

ANDY STEVENS ELECTRICAL LIMITED

BALANCE SHEET

As at 31 December 2023
ANDY STEVENS ELECTRICAL LIMITED

BALANCE SHEET (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 2,815 3,349
2,815 3,349
Current assets
Stocks 4 750 500
Debtors 5 71,884 119,481
Cash at bank and in hand 39,037 72,496
111,671 192,477
Creditors: amounts falling due within one year 6 ( 113,122) ( 161,398)
Net current (liabilities)/assets (1,451) 31,079
Total assets less current liabilities 1,364 34,428
Creditors: amounts falling due after more than one year 7 ( 23,273) ( 33,321)
Provision for liabilities ( 535) ( 636)
Net (liabilities)/assets ( 22,444) 471
Capital and reserves
Called-up share capital 100 100
Profit and loss account ( 22,544 ) 371
Total shareholders' (deficit)/funds ( 22,444) 471

For the financial year ending 31 December 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Andy Stevens Electrical Limited (registered number: 06450427) were approved and authorised for issue by the Director on 17 September 2024. They were signed on its behalf by:

Mr A M Stevens
Director
ANDY STEVENS ELECTRICAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
ANDY STEVENS ELECTRICAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Andy Stevens Electrical Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Leanne House, 6 Avon Close, Weymouth, DT4 9UX, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

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.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 15 % reducing balance
Vehicles 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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 creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 4 4

3. Tangible assets

Plant and machinery Vehicles Total
£ £ £
Cost
At 01 January 2023 11,902 7,459 19,361
At 31 December 2023 11,902 7,459 19,361
Accumulated depreciation
At 01 January 2023 8,867 7,145 16,012
Charge for the financial year 455 79 534
At 31 December 2023 9,322 7,224 16,546
Net book value
At 31 December 2023 2,580 235 2,815
At 31 December 2022 3,035 314 3,349

4. Stocks

2023 2022
£ £
Stocks 750 500

5. Debtors

2023 2022
£ £
Trade debtors 26,855 63,488
Other debtors 45,029 55,993
71,884 119,481

6. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 10,051 10,013
Trade creditors 18,802 45,310
Taxation and social security 77,376 103,519
Other creditors 6,893 2,556
113,122 161,398

7. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 23,273 33,321

There are no amounts included above in respect of which any security has been given by the small entity.

8. Related party transactions

Transactions with the entity's director

Advances

The Directors loan account is repayable on demand and interest is charged on overdrawn balances exceeding £10,000 at the official HMRC rates.

At 1 January 2023, the balance owed by the Director was £39,434. During the year, £35,684 was advanced and £47,508 was repaid. At 31 December 2023, the balance owed by the Director was £27,610.

At 1 January 2022, the balance owed by the Director was £20,284. During the year, £33,013 was advanced and £13,863 was repaid. At 31 December 2022, the balance owed by the Director was £39,434.