IRIS Accounts Production v24.2.0.383 08920591 Board of Directors 1.4.23 31.3.24 31.3.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh089205912023-03-31089205912024-03-31089205912023-04-012024-03-31089205912022-03-31089205912022-04-012023-03-31089205912023-03-3108920591ns15:EnglandWales2023-04-012024-03-3108920591ns14:PoundSterling2023-04-012024-03-3108920591ns10:Director12023-04-012024-03-3108920591ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3108920591ns10:SmallEntities2023-04-012024-03-3108920591ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3108920591ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3108920591ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3108920591ns10:FullAccounts2023-04-012024-03-3108920591ns5:CurrentFinancialInstruments2024-03-3108920591ns5:CurrentFinancialInstruments2023-03-3108920591ns5:Non-currentFinancialInstruments2024-03-3108920591ns5:Non-currentFinancialInstruments2023-03-3108920591ns5:ShareCapital2024-03-3108920591ns5:ShareCapital2023-03-3108920591ns5:RetainedEarningsAccumulatedLosses2024-03-3108920591ns5:RetainedEarningsAccumulatedLosses2023-03-3108920591ns10:RegisteredOffice2023-04-012024-03-3108920591ns5:OwnedOrFreeholdAssetsns5:LandBuildings2023-04-012024-03-3108920591ns5:FurnitureFittings2023-04-012024-03-3108920591ns5:MotorVehicles2023-04-012024-03-3108920591ns5:ComputerEquipment2023-04-012024-03-3108920591ns5:LandBuildings2023-03-3108920591ns5:FurnitureFittings2023-03-3108920591ns5:MotorVehicles2023-03-3108920591ns5:ComputerEquipment2023-03-3108920591ns5:LandBuildings2023-04-012024-03-3108920591ns5:LandBuildings2024-03-3108920591ns5:FurnitureFittings2024-03-3108920591ns5:MotorVehicles2024-03-3108920591ns5:ComputerEquipment2024-03-3108920591ns5:LandBuildings2023-03-3108920591ns5:FurnitureFittings2023-03-3108920591ns5:MotorVehicles2023-03-3108920591ns5:ComputerEquipment2023-03-3108920591ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3108920591ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3108920591ns5:DeferredTaxation2023-03-3108920591ns5:DeferredTaxation2023-04-012024-03-3108920591ns5:DeferredTaxation2024-03-31
REGISTERED NUMBER: 08920591 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 March 2024

for

A C ELECTRICAL SUPPLIES LIMITED

A C ELECTRICAL SUPPLIES LIMITED (REGISTERED NUMBER: 08920591)






Contents of the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


A C ELECTRICAL SUPPLIES LIMITED (REGISTERED NUMBER: 08920591)

Balance Sheet
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 288,010 297,535

CURRENT ASSETS
Stocks 40,000 40,882
Debtors 5 99,776 124,424
Cash at bank and in hand 83,138 105,878
222,914 271,184
CREDITORS
Amounts falling due within one year 6 93,882 109,906
NET CURRENT ASSETS 129,032 161,278
TOTAL ASSETS LESS CURRENT
LIABILITIES

417,042

458,813

CREDITORS
Amounts falling due after more than one
year

7

(188,197

)

(192,689

)

PROVISIONS FOR LIABILITIES 9 (3,074 ) (4,999 )
NET ASSETS 225,771 261,125

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 225,671 261,025
SHAREHOLDERS' FUNDS 225,771 261,125

A C ELECTRICAL SUPPLIES LIMITED (REGISTERED NUMBER: 08920591)

Balance Sheet - continued
31 MARCH 2024


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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 September 2024 and were signed on its behalf by:





Mr A Croasdale - Director


A C ELECTRICAL SUPPLIES LIMITED (REGISTERED NUMBER: 08920591)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

A C Electrical Supplies Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 08920591

Registered office: 1st Floor Waterside House
Waterside Drive
Wigan
Lancashire
WN3 5AZ

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.
Freehold property - 2% on cost
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33.3% on cost

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 Statement of Income and Retained Earnings, 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.

A C ELECTRICAL SUPPLIES LIMITED (REGISTERED NUMBER: 08920591)

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 265,531 36,355 24,673 1,931 328,490
Additions 4,340 - - - 4,340
At 31 March 2024 269,871 36,355 24,673 1,931 332,830
DEPRECIATION
At 1 April 2023 2,212 20,644 6,168 1,931 30,955
Charge for year 5,311 3,928 4,626 - 13,865
At 31 March 2024 7,523 24,572 10,794 1,931 44,820
NET BOOK VALUE
At 31 March 2024 262,348 11,783 13,879 - 288,010
At 31 March 2023 263,319 15,711 18,505 - 297,535

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 96,467 121,115
Other debtors 3,309 3,309
99,776 124,424

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 18,551 30,520
Trade creditors 25,970 36,752
Taxation and social security 27,210 30,874
Other creditors 22,151 11,760
93,882 109,906

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans 188,197 192,689

A C ELECTRICAL SUPPLIES LIMITED (REGISTERED NUMBER: 08920591)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank loans 177,650 184,326

9. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax 3,074 4,999

Deferred
tax
£   
Balance at 1 April 2023 4,999
Provided during year (1,925 )
Balance at 31 March 2024 3,074

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid :

Number : Class : Nominal 31.3.23 31.3.22
value : £ £

25 Ordinary A £1 25 25
25 Ordinary B £1 25 25
25 Ordinary C £1 25 25
25 Ordinary D £1 25 25