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Registration number: 09936261

Atkinsons Electrical Contracting Services Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Atkinsons Electrical Contracting Services Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 9

 

Atkinsons Electrical Contracting Services Limited

Company Information

Director

Mr R Atkinson

Registered office

5 Sweep Close
Market Weighton
York
YO43 3NH

Accountants

DAH Accountancy Services Limited
Chartered Management Accountants
Cedar Lodge
York Road
Shiptonthorpe
York
East Yorkshire
YO43 3PH

 

Atkinsons Electrical Contracting Services Limited

(Registration number: 09936261)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

36,840

21,216

Current assets

 

Debtors

5

74,433

95,834

Cash at bank and in hand

 

708,908

524,665

 

783,341

620,499

Creditors: Amounts falling due within one year

6

(203,634)

(174,059)

Net current assets

 

579,707

446,440

Total assets less current liabilities

 

616,547

467,656

Creditors: Amounts falling due after more than one year

6

(11,791)

(21,741)

Net assets

 

604,756

445,915

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

604,656

445,815

Shareholders' funds

 

604,756

445,915

For the financial 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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 12 September 2024
 

.........................................
Mr R Atkinson
Director

 

Atkinsons Electrical Contracting Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
5 Sweep Close
Market Weighton
York
YO43 3NH
England

The principal place of business is:
Unit 10 Halifax Way
Pocklington Industrial Estate
Pocklington
York
YO42 1NP
England

These financial statements were authorised for issue by the director on 12 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Atkinsons Electrical Contracting Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, 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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% reducing balance

Motor vehicles

25% reducing balance

Computer equipment

20% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. 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.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Atkinsons Electrical Contracting Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 9 (2023 - 4).

 

Atkinsons Electrical Contracting Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

3,588

52,330

55,918

Additions

1,667

27,320

28,987

Disposals

-

(18,620)

(18,620)

At 31 March 2024

5,255

61,030

66,285

Depreciation

At 1 April 2023

1,554

33,148

34,702

Charge for the year

704

9,351

10,055

Eliminated on disposal

-

(15,312)

(15,312)

At 31 March 2024

2,258

27,187

29,445

Carrying amount

At 31 March 2024

2,997

33,843

36,840

At 31 March 2023

2,034

19,182

21,216

5

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

45,927

46,604

Amounts owed by related parties

10

25,010

44,519

Prepayments

 

3,368

2,710

Other debtors

 

128

2,001

   

74,433

95,834

 

Atkinsons Electrical Contracting Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

10,648

10,648

Trade creditors

 

35,421

32,815

Taxation and social security

 

52,988

29,939

Accruals and deferred income

 

2,250

1,637

Other creditors

 

102,327

99,020

 

203,634

174,059

Creditors include bank loans of £10,648 (2023 - £10,648) falling due within one year.

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

11,791

21,741

Creditors include bank loans of £11,791 (2023 - £21,741) falling due after more than one year and less than five years.

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       
 

Atkinsons Electrical Contracting Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

11,791

21,741

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,648

10,648

9

Dividends

Interim dividends paid

2024
£

2023
£

Interim dividend of £228.8243 (2023 - £269.7604) per each Ordinary

22,882

26,976

 

 

10

Related party transactions

Mr R Atkinson, the director and shareholder, has a loan to the company that remained in credit throughout the year. Interest has not been charged on the loan.

The company paid rent to Mr R Atkinson, the director and shareholder of £2,400 (2023: - £2,040).

 

Atkinsons Electrical Contracting Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

14,742

13,900

Contributions paid to money purchase schemes

255

229

14,997

14,129

Dividends paid to the director

2024
£

2023
£

Mr R Atkinson

Dividends

22,882

26,976

 

 

Summary of transactions with other related parties

Robert170617 Limited is a company under the direct control of Mr R Atkinson, the director and shareholder.
 

Loans to related parties

2024

Other related parties
£

Total
£

At start of period

44,519

44,519

Repaid

(20,000)

(20,000)

Interest transactions

490

490

At end of period

25,009

25,009

2023

Other related parties
£

Total
£

At start of period

43,469

43,469

Advanced

178

178

Interest transactions

872

872

At end of period

44,519

44,519

Terms of loans to related parties

Interest is charged on the loan at the rate of 2% per annum.