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REGISTERED NUMBER: 04159839 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

WADYS ELECTRICAL LIMITED

WADYS ELECTRICAL LIMITED (REGISTERED NUMBER: 04159839)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WADYS ELECTRICAL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 March 2024







DIRECTORS: D J Wady
S J Wady
D G Bishop
D Allison
S D Rennie





SECRETARY: S J Wady





REGISTERED OFFICE: 11 Monoux Road
Wootton
Bedford
Bedfordshire
MK43 9JR





REGISTERED NUMBER: 04159839 (England and Wales)





ACCOUNTANTS: GB Accounting Solutions Limited
Bedford Technology Park
Thurleigh
Bedford
Bedfordshire
MK44 2YA

WADYS ELECTRICAL LIMITED (REGISTERED NUMBER: 04159839)

BALANCE SHEET
31 March 2024

31.3.24 31.3.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 121,145 111,414

CURRENT ASSETS
Stocks 15,000 15,000
Debtors 5 985,239 368,333
Cash at bank and in hand 707,966 271,879
1,708,205 655,212
CREDITORS
Amounts falling due within one year 6 (1,164,725 ) (406,109 )
NET CURRENT ASSETS 543,480 249,103
TOTAL ASSETS LESS CURRENT
LIABILITIES

664,625

360,517

CREDITORS
Amounts falling due after more than one year 7 (45,193 ) (42,305 )

PROVISIONS FOR LIABILITIES (10,853 ) (5,722 )
NET ASSETS 608,579 312,490

CAPITAL AND RESERVES
Called up share capital 119 119
Share premium 8 20,441 20,441
Retained earnings 8 588,019 291,930
SHAREHOLDERS' FUNDS 608,579 312,490

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.

WADYS ELECTRICAL LIMITED (REGISTERED NUMBER: 04159839)

BALANCE SHEET - continued
31 March 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 18 September 2024 and were signed on its behalf by:





D J Wady - Director


WADYS ELECTRICAL LIMITED (REGISTERED NUMBER: 04159839)

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


1. STATUTORY INFORMATION

Wadys Electrical Limited 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.

Turnover
Turnover 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance and 15% 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

WADYS ELECTRICAL LIMITED (REGISTERED NUMBER: 04159839)

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


2. ACCOUNTING POLICIES - continued

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.

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

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2023 - 22 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 287,211
Additions 58,015
Disposals (24,250 )
At 31 March 2024 320,976
DEPRECIATION
At 1 April 2023 175,797
Charge for year 38,054
Eliminated on disposal (14,020 )
At 31 March 2024 199,831
NET BOOK VALUE
At 31 March 2024 121,145
At 31 March 2023 111,414

WADYS ELECTRICAL LIMITED (REGISTERED NUMBER: 04159839)

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


4. TANGIBLE FIXED ASSETS - continued

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

Plant and
machinery
etc
£   
COST
At 1 April 2023 143,355
Additions 30,015
Transfer to ownership (75,405 )
At 31 March 2024 97,965
DEPRECIATION
At 1 April 2023 67,737
Charge for year 18,457
Transfer to ownership (43,595 )
At 31 March 2024 42,599
NET BOOK VALUE
At 31 March 2024 55,366
At 31 March 2023 75,618

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 931,664 333,935
Amounts owed by group undertakings 4,650 4,811
Other debtors 48,925 29,587
985,239 368,333

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Hire purchase contracts 16,977 17,250
Trade creditors 899,848 271,791
Taxation and social security 109,720 60,242
Other creditors 138,180 56,826
1,164,725 406,109

WADYS ELECTRICAL LIMITED (REGISTERED NUMBER: 04159839)

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


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 22,419 31,667
Hire purchase contracts 22,774 10,638
45,193 42,305

8. RESERVES
Retained Share
earnings premium Totals
£    £    £   

At 1 April 2023 291,930 20,441 312,371
Profit for the year 350,801 350,801
Dividends (54,712 ) (54,712 )
At 31 March 2024 588,019 20,441 608,460

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
D J Wady and S J Wady
Balance outstanding at start of year 18,822 -
Amounts advanced 18,822 18,822
Amounts repaid (18,822 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 18,822 18,822

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is D J Wady.